The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Light touch financial regulation after the U.K. leaves the European Union will not help the British financial sector, according to a deputy governor at the Bank of England.
Speaking to CNBC's Joumanna Bercetche at the Innovate Finance Global Summit in London, Deputy Governor for Markets and Banking Dave Ramsden indicated that adopting light touch regulation to gain a competitive advantage for the U.K. financial sector after Brexit was not on the agenda.
Ramsden said it was important that the Bank of England retained focus in its core mission of ensuring the soundness of individual banks and the overall financial system, especially 11 years on from the start of the financial crisis.
"The lessons we have learned from that are that it's incredibly important to always maintain the right regulation and certainly not think of reducing the regulatory stance for some kind of competitiveness reason," said Ramsden.
"That won't actually be good for the U.K. financial sector and won't be good for the burgeoning fintech sector in the U.K.," he added.
Ramsden also discussed the importance of the central bank keeping up with technological developments in banking and insurance by using artificial intelligence and the vast amount of data it gathers from companies "to make parts of the regulatory process more straightforward."
"Given that we take a judgment-based approach to regulation, it will enable us to focus our efforts more on making those appropriate judgments so that we get the stance of regulation right."