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EU proposals for UK mustn't distort banking rules - watchdog

Fri, 05/02/2016 - 09:45
LONDON (Reuters) - If different banking rules are introduced in countries inside and outside the euro zone, it must be done in an integrated way to avoid distorting competition, the European Union's banking watchdog said on Friday.

EU's Hill says will alter global bank capital rules to suit Europe

Fri, 05/02/2016 - 09:32
LONDON (Reuters) - The European Union will adapt global bank capital rules to ease the burden on smaller lenders and encourage more investment in companies and infrastructure, the bloc's financial services chief said on Friday.

CMC Markets dips in London debut

Fri, 05/02/2016 - 08:56
LONDON (Reuters) - Shares in British financial spreadbetting company CMC Markets slipped below the firm's 240 pence flotation price on Friday after the firm listed on the London stock market with a valuation of 691 million pounds.

Halma buys healthcare sensors maker CenTrak for about $140 million

Fri, 05/02/2016 - 08:21
(Reuters) - Healthcare devices maker Halma Plc said it had bought CenTrak Inc, a privately owned maker of sensors, for about $140 million (95.9 million pounds), expanding its footprint in the U.S. healthcare market.

Centrica, EIG sell UK wind farms to Green Investment Bank, BlackRock

Fri, 05/02/2016 - 07:52
LONDON (Reuters) - Gas and power utility Centrica and its joint venture partner EIG Global Energy Partners have sold three UK wind farms for 423 million pounds to a consortium that includes Britain's state-owned Green Investment Bank and U.S. investment group BlackRock , the company said.

BG profits slip as weak prices eat into revenue

Fri, 05/02/2016 - 07:51
LONDON (Reuters) - Britain's BG Group , in its final results update ahead of its takeover by Shell , said on Friday core earnings fell 22 percent in the fourth quarter as low energy prices ate into profits.

BoE's Broadbent says UK inflation to stay below 1 percent in 2016 - BBC

Fri, 05/02/2016 - 07:41
LONDON (Reuters) - Bank of England Deputy Governor Ben Broadbent said on Friday the recent drop in oil prices is likely to keep British inflation below 1 percent throughout this year.

Banker in 1MDB-linked Singapore case withdraws request to unfreeze accounts

Fri, 05/02/2016 - 06:18
SINGAPORE (Reuters) - A banker at Swiss wealth manager BSI Singapore withdrew a request to the Singapore High Court on Friday to release his bank accounts, frozen by authorities here as part of an investigation into money laundering related to the embattled 1Malaysia Development Berhad (1MDB) fund.

BoE's Broadbent: UK's EU vote not hitting business investment - BBC

Fri, 05/02/2016 - 06:14
LONDON (Reuters) - The Bank of England has not yet seen signs that British companies are curbing investment plans because of uncertainty around Britain's referendum on European Union membership, a top Bank of England official said on Friday.

Exclusive: State Street nears deal for GE's asset management arm - sources

Fri, 05/02/2016 - 02:27
(Reuters) - State Street Corp is nearing a deal to acquire General Electric Co's $115 billion asset management business, according to people familiar with the matter, as the U.S. industrial conglomerate continues to shed unloved assets.

Chinese shoppers in South Korea shun luxury for local brands

Fri, 05/02/2016 - 01:20
SEOUL (Reuters) - Chinese visitors to South Korea are buying less from global luxury mainstays like Louis Vuitton and Chanel in favour of cheaper homegrown brands, as young, independent travellers make up a bigger share of tourists.

World Bank says wars, cheap oil hurting Middle East growth

Fri, 05/02/2016 - 01:14
WASHINGTON (Reuters) - The World Bank said on Thursday that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 percent, falling short of a 2.8 percent forecast in October as war, terrorism and cheap oil took their toll.

LinkedIn forecasts weak first-quarter profit, shares plunge

Fri, 05/02/2016 - 00:45
(Reuters) - LinkedIn Corp forecast first-quarter revenue and profit below Wall Street estimates as growth slows in its ads business and its hiring services face pressure outside North America, dragging its shares down 28 percent after the bell.

RWE CEO Peter Terium to switch jobs to head new entity - report

Fri, 05/02/2016 - 00:44
FRANKFURT (Reuters) - The chief executive of struggling German utility RWE, Peter Terium, will switch jobs to become the head of RWE's renewables, networks and retail division which will be split off, leaving the top job at RWE to his deputy and Chief Operating Officer Rolf Martin Schmitz, newspaper Rheinische Post reported.

UK starting salaries rise in January at slowest pace since 2013 - REC

Fri, 05/02/2016 - 00:05
LONDON (Reuters) - British starting salaries for new permanent and temporary jobs rose last month at the slowest pace since October 2013, according to a survey on Friday which will do little to quell the Bank of England's unease about a slowdown in wage growth.

Payment delays, stock build bleed cash from corporate China

Fri, 05/02/2016 - 00:01
DONGGUAN/HONG KONG (Reuters) - If, as the adage has it, turnover is vanity, profit is sanity, but cash is reality, a Reuters analysis of working capital at 1,200 Chinese firms shows much of corporate China is hurtling towards a reality check.

No room on the plane - Antipodean food producers struggle to meet Lunar New Year demand

Thu, 04/02/2016 - 23:09
SYDNEY/WELLINGTON (Reuters) - As Asian appetite for delicacies such as lobster and cherries soars for the Lunar New Year, some producers in Australia and New Zealand have been facing problems getting their lucrative cargo to consumers on time.

Analysis: European carmakers survive politicians' backlash - for now

Thu, 04/02/2016 - 23:04
BRUSSELS (Reuters) - Intense lobbying by Europe's car manufacturers helped to save a compromise that will let them exceed EU pollution targets for now, but the narrowness of their victory in the European parliament shows that politicians are running out of patience.

Stocks rise as weak dollar, U.S. rate outlook keep oil strong

Thu, 04/02/2016 - 09:52
LONDON (Reuters) - Stocks advanced in Europe and Asia on Thursday, with the focus on energy companies as speculation U.S. interest rates may not rise at all this year left the dollar nursing hefty losses and oil held most of the previous day's big gains.

Shell vows more cuts as annual profit sinks on weak oil prices

Thu, 04/02/2016 - 09:47
LONDON (Reuters) - Royal Dutch Shell , Europe's largest oil company, reported its lowest annual income in at least 13 years on Thursday, vowing to take further steps to weather the worst downturn in over a decade.