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  • HONG KONG, Dec 3- Standard Chartered PLC has shut its renminbi solutions group in the United States and Europe, according to a person with knowledge of the matter, as part of major restructuring that has forced the lender to take an axe to one of the industry's fast-growing businesses. "RMB business is one of the top priorities for Standard Chartered as recently...

  • HONG KONG, Dec 3- Standard Chartered has shut its renminbi solutions group in the United States and Europe, according to a source with direct knowledge of the matter, as part of a major restructuring that has forced the lender to take an axe to a fast-growing business in the industry. In a landmark move this week, The International Monetary Fund admitted China's...

  • NEW YORK/ LONDON Dec 2- New Barclays Plc Chief Executive Jes Staley has approached his former JPMorgan colleague Blythe Masters to run the British bank's investment bank division, a person familiar with the matter said on Wednesday. A spokesman for Barclays declined to comment. Barclays is shrinking its investment banking business and its current boss, Tom...

  • WASHINGTON, Dec 2- U.S. private employers boosted hiring in November and wage growth appeared to pick up in the third quarter, signs of labor market strength that could support the first Federal Reserve interest rate increase in nearly a decade later this month. "The data indicate a steady improvement in the labor market that should support the Fed's confidence...

  • Chinese stocks rally on mortgage tax break rumors Wednesday, 2 Dec 2015 | 3:17 AM ET

    Chinese markets closed higher on Wednesday on the back of rumors of an upcoming incentive to boost China's property market.

  • LONDON, Dec 1- British banks including HSBC and Lloyds have almost completed the job of building up their defences against a future financial crisis, Bank of England Governor Mark Carney said on Tuesday as he set out details of new capital requirements. "With today's announcement, the basic amount of capital our system requires is settled," he said, setting out...

  • Banks and miners help European shares edge higher Tuesday, 1 Dec 2015 | 4:11 AM ET

    *UK banks gain after stress test results. LONDON, Dec 1- European shares edged higher on Tuesday, with UK- listed banks gaining after none failed the latest Bank of England "stress tests" on the sector. Standard Chartered, Lloyds Group, Royal Bank of Scotland, HSBC and Barclays rose 1.4 to 2.7 percent, helping the European banking index gain more than 1 percent, after the...

  • *BoE says UK credit conditions largely back to normal. LONDON, Dec 1- The Bank of England set out plans on Tuesday to require banks to hold a total of up to 10 billion pounds more capital as they start to lend more freely in a recovering economy, but stopped short of demanding immediate action. "With today's announcement, the basic amount of capital our system requires...

  • LONDON, Dec 1- European shares edged higher on Tuesday, with UK- listed banks gaining after the Bank of England announced the results of its bank "stress tests" and said credit conditions in the country had largely recovered from the financial crisis. Shares in Standard Chartered Bank, Lloyds Group, Royal Bank of Scotland, HSBC and Barclays rose 1.2 to 2.7 percent,...

  • UK bank stress tests: RBS and StanChart near-misses Tuesday, 1 Dec 2015 | 2:24 AM ET
    The Bank of England

    Royal Bank of Scotland and Standard Chartered, the U.K.-based banks, scraped through the country's bank stress tests.

  • LONDON, Dec 1- The Bank of England set out plans on Tuesday to require banks to hold as much as 10 billion pounds extra capital as the credit cycle moves into a more normal phase, but stopped short of immediate action. The central bank said credit conditions in Britain had largely recovered from the financial crisis as banks began to lend more freely, and warned that...

  • Last month, solar producer Baoding Tianwei Group became China's first ever state-owned company to default on a bond coupon payment, showing Beijing's increasing willingness to let companies go bust in a bid to reform its corporate market. Although onshore and offshore bondholders have equal standing in China's bankruptcy law, lawyers and investors who...

  • LONDON, Nov 24- Once dubbed "masters of the universe", it seemed the party would never end for a profession often associated with a champagne lifestyle of fast cars and faster living. But those days are over for London's financial market traders. In third-quarter earnings updates, banks took another scythe to costs, with expensive traders and trading desks in...

  • Several market participants involved in the sale said offshore units of Nomura, Standard Chartered and Bank of America Merrill Lynch bought about 30 billion rupees of the 35 billion rupees on offer in October, the first window for foreigners to buy in. India has been one of the most resilient emerging markets, with foreign buyers taking up about $9.7 billion of...

  • MELBOURNE, Nov 24- London copper on Tuesday teetered near six-year lows hit the previous session as the dollar gave up some gains, but the outlook for prices stayed poor given weakening Chinese demand growth for metals. Copper, aluminium and lead all hit their lowest in more than six years on Monday and nickel skidded to its weakest since 2003, as a firmer dollar...

  • *Pfizer set to buy Allergan for $160 bln. Copper fell to its cheapest in six months before recovering, while London nickel slid to its lowest since 2003. Gold fell nearly one percent towards last week's near-six-year low. "In the context of a market waiting for supply-side cuts, a stronger dollar is only going to weigh on the cost curve and constrain the pace at which...

  • LONDON, Nov 23- Base metals fell to multi-year lows on Monday on worries that the surge higher in the dollar will deter producers from making supply cuts in a market battling poor demand, especially in top user China. "In the metals sector in China downstream conditions have continued to deteriorate and with the Lunar holiday period approaching that would...

  • SHANGHAI, Nov 20- Even with copper prices reeling from their biggest rout in six years, there were few signs at China's biggest copper conference this week of manufacturers being tempted back to buy more of the metal. At the Shanghai meeting, big copper users, ranging from wire manufacturers to plumbing material makers, in the world's top consumer told a similar...

  • Weak currency undermines Singapore's safe-haven bonds Wednesday, 18 Nov 2015 | 4:00 PM ET

    SINGAPORE, Nov 19- Singapore is one of the world's few sovereign states with a triple-A credit rating on its debt, but its sliding currency is causing the country's government bonds to behave more like those from riskier emerging markets. While Singapore is Asia's only country with a Triple-A or top rating from all the three major ratings agencies, and is in the...

  • LONDON, Nov 18- British bank Standard Chartered will pay about 55 million pounds to banks underwriting its $5.1 billion rights issue, according to details released on Wednesday. Standard Chartered's rights issue prospectus said it would pay banks underwriting the deal a 1.8 percent commission for most of the shares issued. Standard Chartered earlier this...