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Updated: 1 hour 14 min ago

S&P raises BP to stable on oil spill settlement, cost cutting

Thu, 23/07/2015 - 12:49
(Reuters) - BP Plc's settlement of the Deepwater Horizon blowout and its cost reduction efforts should support its credit ratios to the end of 2016, ratings agency Standard & Poor's said, revising its outlook on the oil and gas major to stable from negative.

HSBC's Simoes to chair UK regulation practitioners panel

Thu, 23/07/2015 - 12:35
LONDON (Reuters) - The head of HSBC's British business, Antonio Simoes, will chair the independent panel that represents the banking industry on rule-making and other regulatory issues, Britain's financial regulator said on Thursday.

Oil flat as weaker dollar offsets rising U.S. stocks

Thu, 23/07/2015 - 11:42
LONDON (Reuters) - The opposing forces of a weaker dollar and evidence of rising U.S. crude stockpiles in an already oversupplied market kept oil prices steady on Thursday.

Aberdeen sticks to strategy after heavy outflows, shares dive

Thu, 23/07/2015 - 11:40
LONDON (Reuters) - Aberdeen Asset Management will retain its emerging markets focus after investors withdrew almost 10 billion pounds over the past three months, Chief Executive Martin Gilbert said on Thursday.

TSB urges rethink of banking surcharge

Thu, 23/07/2015 - 11:00
(Reuters) - TSB Banking Group , being bought by Spain's Banco Sabadell for $2.5 billion (£1.60 billion), has urged British finance minister George Osborne to rethink his banking surcharge if he wants to encourage the growth of smaller "challenger" banks.

Europe buoyed by results, data dents Asia

Thu, 23/07/2015 - 09:47
LONDON (Reuters) - A raft of forecast-beating corporate results kept European equities afloat on Thursday, shrugging off declines in Asia on the back of mixed regional data.

Greek bailout vote puts Syriza party rebellion to the test

Wed, 22/07/2015 - 16:32
ATHENS (Reuters) - Greece's leftist government tried on Wednesday to contain a rebellion in Prime Minister Alexis Tsipras' Syriza party ahead of a vote in the evening on reforms required to start talks on a rescue deal.

Exclusive - RBS hires advisers for new probe of turnaround unit

Wed, 22/07/2015 - 16:24
LONDON (Reuters) - Royal Bank of Scotland has appointed external advisers to launch a fresh investigation into its treatment of small business customers, sources familiar with the matter said.

Iran deal offers faint hope for Iranian-American banking woes

Wed, 22/07/2015 - 16:19
NEW YORK (Reuters) - The Iran nuclear pact could eventually help thousands of Iranian-Americans who have struggled with red tape, shuttered accounts, and even criminal prosecution to conduct bank transactions, although relief seems unlikely anytime soon.

FTSE hits one-week low as miners and tech stocks slump

Wed, 22/07/2015 - 16:10
LONDON (Reuters) - Britain's top share index dropped to a one-week low on Wednesday after a poorly received earnings report from Apple hit technology stocks and weaker metals prices and an update from BHP Billiton dragged down miners.

Beach holiday demand helps lift clouds for easyJet

Wed, 22/07/2015 - 16:06
LONDON (Reuters) - British low-cost airline easyJet forecast annual profit growth of up to 14 percent, helped by higher demand for beach holidays which calmed fears it had raised over its outlook.

UK watchdog says up to courts to decide on rate swaps spats

Wed, 22/07/2015 - 16:06
LONDON (Reuters) - Britain's financial regulator has rejected criticism of how small firms are compensated for mis-sold interest rate hedging products, saying it was now up to the courts to rule on disagreements over payouts.

Volkswagen in advanced talks to sell LeasePlan - sources

Wed, 22/07/2015 - 16:04
FRANKFURT (Reuters) - Volkswagen is in advanced talks to sell its 50 percent stake in financing arm LeasePlan as the carmaker cuts costs and refocuses its business, and a decision may be announced this week, people familiar with the matter said.

Exclusive: HSBC to agree sale of Turkish unit to ING for around $750 million - sources

Wed, 22/07/2015 - 15:26
ISTANBUL (Reuters) - HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700 million-$750 million (480.06 million pounds) in the next few days, two people familiar with the matter told Reuters on Wednesday.

Early departure leaves UK regulator with a sense of 'unfinished business'

Wed, 22/07/2015 - 15:24
LONDON (Reuters) - Martin Wheatley, the chief executive of Britain's Financial Conduct Authority, said his early departure from his job leaves him with a sense of unfinished business.

Analysts as upbeat as ever on Apple; Investors not so much

Wed, 22/07/2015 - 14:46
(Reuters) - Forget that iPhone unit sales were not as strong as many had expected; that the revenue forecast fell short of the average estimate, and that there was no clarity on Apple Watch sales.

UK watchdog says can't give date for HBOS bank failure report

Wed, 22/07/2015 - 14:42
LONDON (Reuters) - The long delayed report into the failure of HBOS bank during the financial crisis will come out as "soon as practicable", Britain's Financial Conduct Authority (FCA) said on Wednesday.

Special Report: Blackstone champions hedge funds for the little guy

Wed, 22/07/2015 - 14:24
NEW YORK (Reuters) - John McCormick has been on a mission for the past five years: to bring hedge funds to the masses.

Glencore to cut 380 jobs at South African coal mine

Wed, 22/07/2015 - 13:35
JOHANNESBURG (Reuters) - Global mining firm Glencore said on Wednesday it will cut about 380 jobs at its Optimum Coal subsidiary in South Africa after the closure of some operations at the mine.

'Brexit' fears haunt London's roaring trade in euros

Wed, 22/07/2015 - 12:52
LONDON (Reuters) - If there is a symbol of British ambivalence to Europe then it may be the euro itself.