Britain’s Financial Conduct Authority (FCA) said on Tuesday it has closed its investigation into Odey Asset Management after the firm’s closure, but its probe into its founder Crispin Odey remains “live”.
JPMorgan Chase is set to outsource the operations of its local custody business in Hong Kong and Taiwan with Citigroup , HSBC and Standard Chartered in the race for the mandate, two sources with knowledge of the matter said.
Shares in Hargreaves Lansdown and AJ Bell were among Tuesday’s biggest losers on the London stock market after Britain’s market watchdog flagged concerns about the interest and fees charged by some investment platforms.
The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.
Britain’s Financial Conduct Authority (FCA) flagged concerns on Tuesday about the amount of interest and fees charged by some investment platforms, warning 42 companies it could intervene to ensure fair value, sending shares in some firms sharply lower.
Italy’s Banco BPM pledged on Tuesday a five-fold increase in payouts to investors through 2026 by using fee income to sustain record profits even as the boost from higher interest rates wanes.
The German reinsurer Hannover Re said on Tuesday that it expects net profit in 2024 of at least 2.1 billion euros ($2.26 billion), a 24% increase over its guidance for the current year.
Discover Financial said on Monday said it had appointed Michael Rhodes as its new chief executive officer and president, who will join in March next year.
The governing body of London’s financial district is opening offices in New York and Washington, D.C., in a push by British policymakers to forge stronger international financial ties after Brexit.
