The ties between Britain’s banks and its economy have always been close, but they seem to have become even tighter in the post-banking bailout era.» Read More
LONDON, July 28- The Bank of England won backing from the International Monetary Fund on Monday for keeping interest rates low, even as the IMF welcomed signs that Britain's surprisingly strong economic recovery is broadening.
HONG KONG— A popular Hong Kong pro-democracy website has closed, citing political pressure, the latest sign of mounting tensions as the semiautonomous Chinese city braces for a possible shutdown of its financial center by activists fighting Beijing's desire to limit democratic reforms.
HONG KONG— As skyscrapers around Hong Kong harbor erupted into a reverie of laser beams and giant digital displays during their synchronized nightly light show, one innocuous 28- story building near the water's edge had stayed dark for months, clad in bamboo scaffolding for a face-lift.
HONG KONG— As activists vow to shut down Hong Kong's financial district in protest at China's attempt to hobble democratic elections in the city, businessman Bernard Chan is preparing for the worst. The former British colony came back under China's control in 1997 but retains its own legal and financial systems and a high degree of control over its affairs.
*Economists say Germany's fundamentals still solid. BERLIN/ FRANKFURT, July 21- The German economy probably stagnated in the second quarter in the face of political tensions abroad, the Bundesbank said on Monday, but chances are its recovery will not be held up for long by conflicts on the rim of Europe.
*Gulf banks reducing loan fees, easing terms. *Eager to deploy cash supplies amid high oil prices. DUBAI, July 21- Cash-rich Gulf banks are grabbing a growing share of the region's loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.
*Economists say Germany's fundamentals still solid. FRANKFURT, July 21- The German economy probably stagnated in the second quarter in the face of political tensions abroad, the Bundesbank said on Monday, but chances are its recovery will not be held up for long by conflicts on the rim of Europe.
NEW YORK, July 18- Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the center of a probe into possible fraud, a senior executive said on Friday, becoming the first U.S. bank to disclose its potential exposure.
LONDON, July 18- World markets remained under pressure on Friday after the downing of a Malaysian airlines jet at the Ukraine- Russia border, new sanctions on Moscow and unrest in Gaza had sent investors scurrying into defensive assets.
A proposed merger in Malaysia will create the first Islamic bank that will have enough clout to challenge conventional, often Western, banks.
MUMBAI, July 16- Indian budget airline IndiGo has picked six lead managers for its initial public offering, which could be worth up to $400 million, three people involved in the deal said.
China's economy grew 7.5 percent in the second quarter from the year-ago period, beating a broad consensus estimate of 7.4 percent and coming after the 7.4 percent expansion in the first quarter.
*Tencent, JD.com tie-up sharpens e-commerce challenge. SHANGHAI, March 17- Alibaba's dominance of online retail in China faces its biggest-ever challenge as the firm founded by Jack Ma in an apartment 15 years ago lines up a U.S. initial public offering that could value the firm at around $140 billion.
Burberry shareholders rejected a 20 million pound remuneration package for its new chief executive, Christopher Bailey. The Financial Times reports.
As World Cup fever spread, the usually sober investment banks-turned-pundits offered their predictions. Here's how they did.
"We believe that freedom of expression, including of the press, has played an important part in Hong Kong's success," the report, made available by the British Consulate General in Hong Kong, said.
"As such we take seriously concerns about press freedom, including fears about self-censorship," it adds, saying London would monitor the situation closely and noting Hong Kong leader Leung Chun- ying's "clear statements on press freedom".
HONG KONG, July 10- Chinese pork producer WH Group Ltd is seeking to raise up to $3 billion as early as this month in a revived Hong Kong initial public offering which saw the deal size cut by nearly two-thirds, Thomson Reuters publication IFR reported on Thursday.
Commerzbank may pay between $600 and $800 million to resolve investigations into its dealings with countries under U.S. sanctions, sources said.
NEW YORK, July 9- German lender Commerzbank AG is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said.