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☆ FTSE 100 slips at open ahead of Fed, BoE monetary policy decisions
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.1%, FTSE 250 off 0.2%Sept 18 (Reuters) - UK's FTSE 100 slipped at open on Monday as investors await interest rate decisions from the U.S. Federal Reserve and the Bank of England (BoE), while Britain's main manufacturing trade body cut its forecast for the sector's growth for this year. The exporter-heavy FTSE 100 (.FTSE) slipped 0.1% by 0712 GMT, while the mid-cap FTSE 250 (.FTMC) was down 0.2%. Britain's main manufacturing trade body cut its forecast for the sector's growth for this year and next, citing a sharp fall in factory output and economic uncertainty. Reporting by Siddarth S in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, BoE, Siddarth, Savio D'Souza Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Federal Reserve, Bank of England, Phoenix Group, Mondi, Sezar, Thomson Locations: City, City of London, Britain, Russia, Moscow, Bengaluru

☆ Sale of control in Israel's Phoenix to ADQ-led group falls through
▼ + stars: | 2023-07-23 | by ( Emily Rose | ) www.reuters.com time to read: +1 min

JERUSALEM, July 23 (Reuters) - A deal for two shareholders in Israeli financial firm Phoenix Group (PHOE1.TA) to sell control of the group to a consortium led by Abu Dhabi state holding company ADQ has fallen through, a regulatory filing showed on Sunday. However a non-binding agreement was "mutually terminated", the sellers said in a letter to Phoenix that was posted on the Tel Aviv Stock Exchange. The letter cited regulatory limitations that would prevent members of the UAE consortium from making other "material investments in Israel". A spokesperson for ADQ told Reuters the group had no comment on the matter. Phoenix Group, one of Israel's largest financial companies, has a market capitalisation of around 9.85 billion shekels.

Persons: Abu, ADQ, Abraham, Emily Rose, Jan Harvey Organizations: Phoenix Group, Centerbridge Partners, Gallatin Point Capital, UAE, Tel Aviv Stock Exchange, Reuters, Abraham Accords, Thomson Locations: Abu Dhabi, ., Gallatin Point, Phoenix, UAE, Israel, Gallatin, U.S

☆ UK set to ease stock market listing rules
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +2 min

Hunt will also seek to roll back a European Union-era securities law, Treasury said. UK is set to approve recommendations in Rachel Kent's Independent Research Report, paving the way for a new "Research Platform" to provide a one-stop-shop for firms looking for research experts, the statement added. UK had last year announced the launch of the Investment Research Review - an independent review of financial services investment research and its contribution to UK capital markets competitiveness, headed by Kent. The approval also sets the way for potentially removing unbundling rules – an inherited EU law that requires brokers to charge a separate fee for research. "We will not countenance tax cuts if they make the battle against inflation harder," the newspaper quoted Hunt as saying.

Persons: Jeremy Hunt, UK's, Hunt, Rachel, Hogan Lovells, Rishi Sunak's, Nilutpal, Chris Reese, David Gregorio, Shri Organizations: Finance, UK's Treasury, Treasury, Investment Research, Financial Times, Aviva Plc, Phoenix Group Holdings, City of London Corporation, FT, Thomson Locations: Union, Kent, Bengaluru

☆ Factbox: What is embattled British business group the CBI?
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +5 min

Below is some information about the CBI and its role:WHAT IS THE CBI? Founded in 1965, the CBI is Britain's top business lobby group. A not-for-profit organisation, the CBI says it represents 190,000 businesses employing nearly 7 million people, including many of Britain's biggest companies. In his speech, Sunak called the CBI "a valued institution in this country and a powerful voice for business". A spokesperson for NatWest said the bank had no confidence in the CBI's capacity to be a strong representative voice for British business at present.

[1/2] A Confederation of British Industry (CBI) logo is seen during their annual conference in London, Britain November 9, 2015. "While the CBI was not previously aware of the most serious allegations, it is vital that they are thoroughly investigated now and we are liaising closely with the police," CBI President Brian McBride said. Virgin Media O2 criticised how the CBI had dealt with the allegations. Aviva (AV.L) and two other insurers, Phoenix Group and Zurich Insurance Group (ZURN.S), also quit on Friday along with asset manager Schroders. Accountancy firm PWC suspended activity with the CBI, as has telecoms company BT Group, while bank Santander said it was reviewing its membership.

☆ RBC names 5 global financial stocks to buy right now as banks sell off
▼ + stars: | 2023-03-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The recent falls in the stock of European financial stocks have presented a buying opportunity, according to RBC Capital Markets. However, RBC analysts say insurers are fundamentally different from banks, and the circumstances that led to SVB's collapse could not occur at an insurance company. Shares of Just Group in particular are expected to double over the next 12 months to £1.60 ($1.96) from its current share price of £0.79, according to RBC. "While bank customers can choose to withdraw their deposits there is no ability for an annuitant to withdraw." While the insurance firms only hold high-quality investments, as required by law, RBC analysts concede that there is a small risk if the underlying assets fail or if people live longer than anticipated.

☆ Britain's electric grid transformation was sparked by political cooperation
▼ + stars: | 2022-11-15 | by ( James O'Malley | ) www.businessinsider.com time to read: +7 min

Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. That didn't happen by accident: They are the result of a profound transformation of Britain's national grid. "The revenues you got as a wind generator were still tied to the market price, which is set by gas," Lord said. "The risk does not go away," Rahmat Poudineh, the director of research at the Oxford Institute for Energy Studies' electricity program, said. "Cornerstone of decarbonization"In any case, Britain's national grid today is in a much greener position than it once was, and the scale of the transformation is striking.

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