20 April

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Pound hits over 6-week high on weak dollar, supported by jobs data By Reuters

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By Ritvik Carvalho LONDON (Reuters) - Sterling hit its highest in more than six weeks against the dollar on Tuesday with the greenback's continuing decline and a positive surprise from labour market data out of Britain lending support to the currency. The pound crossed the $1.40 mark for the first time in nearly a month on Monday, rising 1% as it benefited from a broadly weakening dollar that took a hit as risk sentiment returned and volatility slumped in global markets. It extended gains to touch its highest since March 4 at $1.4009 early on Tuesday...

20 April

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China to require financial institutions to move towards green finance – central bank governor By Reuters

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BOAO, China (Reuters) - There are still some problems in China's green finance development and the central bank will require financial institutions to make transitions towards green finance, central bank governor Yi Gang told the Boao Forum on Tuesday. China will expand financial sector opening and expand business scopes for foreign financial institutions, Yi said. ...

20 April

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British parliament committee to summon Sunak, Cameron over Greensill By Reuters

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LONDON (Reuters) -A British parliamentary committee will summon finance minister Rishi Sunak and former Prime Minister David Cameron to appear before it to answer questions about the ex-leader's lobbying for the now failed supply-chain finance firm Greensill Capital. Greensill's founder, Lex Greensill, Bank of England Governor Andrew Bailey and the chief executive of the Financial Conduct Authority, Nihkil Rathi, will also face questions about the collapse of the company and Cameron's actions. A series of inquiries have been launched into what access lobbyists have had to Prime Minister Boris Johnson's government after questions were raised...

20 April

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UK regulator says Issa’s purchase of Asda raises some competition concerns By Reuters

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LONDON (Reuters) - Britain's competition regulator said on Tuesday it was concerned the Issa brothers and private equity group TDR Capital's 6.8 billion pound ($9.5 billion) takeover of the Asda supermarket chain could lead to higher fuel prices for UK motorists. The Competition and Markets Authority (CMA) said it has given the buyers five working days to offer legally binding proposals to address the competition concerns identified to avoid an in-depth phase 2 investigation. ($1 = 0.7153 pounds) ...

20 April

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EU commission fines railway companies for violating antitrust rules By Reuters

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(Reuters) - The European Commission has imposed fines of 48 million euros in total on three railway companies in Germany, Austria and Belgium for breaching antitrust rules, according to a statement. Oesterreichische Bundesbahnen, Deutsche Bahn (DB) and Belgian SNCB participated in a customer allocation cartel that concerned cross-border rail cargo transport services on key rail corridors in the EU, the Commission said on Tuesday. The three companies admitted their involvement in the cartel and agreed to settle the case, according to the statement. ...

20 April

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Gambling firm William Hill’s takeover by Caesars sanctioned by UK court By Reuters

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(Corrects headline to say takeover "by" Caesars, not "of" Caesars and adds dropped words "after a hearing" in the first paragraph) (Reuters) - British bookmaker William Hill said on Tuesday a court had sanctioned its takeover by U.S.-casino operator Caesars Entertainment after a hearing last month, despite concerns raised by minority shareholder HBK about disclosures around the deal. HBK had opposed the scheme of arrangement for the 2.9 billion pounds ($4 billion) deal, saying terms of the joint venture between the two firms were not adequately disclosed by William Hill last year. ($1 = 0.7293...

20 April

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Britain must respect Northern Ireland protocol, Germany says By Reuters

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BERLIN (Reuters) - Germany on Tuesday urged Britain to adhere to the entire Brexit divorce agreement after the European Union started legal action over London's unilateral actions in Northern Ireland. "It remains crucial that all parts of the withdrawal agreement are fully implemented, including the protocol on Northern Ireland," German Europe Minister Michael Roth said ahead of a meeting with his EU counterparts. The rules agreed in the protocol are key to preserving the achievements of the peace process in Northern Ireland, he told reporters. "Now we need to agree on a binding timeline...

20 April

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Euro zone banks to tighten access to credit in Q2: ECB survey By Reuters

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FRANKFURT (Reuters) - Euro zone banks expect to tighten access to credit further in the second quarter, a European Central Bank lending survey showed on Tuesday, as the bloc's pandemic-induced recession drags on and now threatens to disrupt the coming holiday season. Weighted down by over a year of lockdowns, much of Europe's services sector is surviving on emergency cash and the ECB fears that banks will turn off the money taps, forcing firms out of business and leaving the economy scarred. Credit standards, or loan approval criteria, already tightened for firms in the first...

20 April

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BOJ warns of risks to Japan banks from Archegos-type overseas funds By Reuters

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By Leika Kihara TOKYO (Reuters) - Japanese financial institutions have become more exposed to market risks triggered by non-bank and overseas funds, the central bank warned on Tuesday, in the wake of losses caused by the collapse of family office Archegos Capital Management. Since the global financial crisis in 2018, Japan's financial sector has become increasingly linked to global market moves as foreign investment funds pile into the country and domestic banks invest more in overseas securities, the BOJ said. That has increased overlaps in portfolios between domestic and foreign financial institutions, the central bank said...

20 April

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Exclusive: DBS, StanChart among potential bidders for Citi’s Asia consumer business – sources By Reuters

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By Anshuman Daga, Sumeet Chatterjee and Nupur Anand SINGAPORE/HONG KONG (Reuters) - Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered (LON:STAN) are set to bid for parts of Citigroup (NYSE:C)'s consumer business in Asia, people with direct knowledge of the matter told Reuters. The sale process will start within a couple of weeks, the people added, declining to be named as they were not authorised to speak to media. The move comes after Citi said that it would exit from its consumer franchises in 13 markets,...

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News

Pound hits over 6-week high on weak dollar, supported by jobs data By Reuters

China to require financial institutions to move towards green finance – central bank governor By Reuters

British parliament committee to summon Sunak, Cameron over Greensill By Reuters

UK regulator says Issa’s purchase of Asda raises some competition concerns By Reuters

EU commission fines railway companies for violating antitrust rules By Reuters

Gambling firm William Hill’s takeover by Caesars sanctioned by UK court By Reuters

Britain must respect Northern Ireland protocol, Germany says By Reuters

Euro zone banks to tighten access to credit in Q2: ECB survey By Reuters

BOJ warns of risks to Japan banks from Archegos-type overseas funds By Reuters

Exclusive: DBS, StanChart among potential bidders for Citi’s Asia consumer business – sources By Reuters

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