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Search resuls for: "City of London"


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London shares gained 0.7%, helped by a 2.3% jump for the mining sector, while Paris climbed 0.8%. The MSCI world equity index, which tracks shares in almost 50 countries, gained 0.1%. “Markets seem to be taking the Fed at its word but when we talk to clients there is concern about long-term inflation.”Euro area bond yields followed suit. “We still think consumers are going to help prices higher, when these economies reopen properly, that people can start travelling again, spending again,” said Jeremy Gatto, investment manager at Unigestion. “We are going to get a further boost from the consumption side, and we therefore expect bond yields to move higher.”The U.S. dollar slipped as yields dipped before edging back up.
Persons: Toby Melville, , Kiran Ganesh, , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, London, European Central Bank, Wall, Federal, . Labor Department, Treasury, UBS Global Wealth Management, , Japan, Investors, U.S, Brent Locations: United States, City, City of London, Britain, Paris, Europe, U.S, London, Asia, Pacific, coronavirus, Unigestion, China
Stocks hover near record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +3 min
The ECB’s projections pushed the pan-regional STOXX Europe 600 index up 0.68% to an intraday high and record close at 457.64. Investors are leaning into tech stocks because they don’t use raw materials and productivity rate is higher than other sectors, he said. “There is a concern that eventually you could get some migration out of stocks into bonds. But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks,” Meckler said. The dollar index rose 0.57%, with the euro down 0.61% to $1.2095.
Persons: Toby Melville, Rick Meckler, ” Meckler, , , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, European Central Bank, Cherry Lane Investments, Investors, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: City, City of London, Britain, Europe, breakeven, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
G7 finance ministers agreed a global corporate minimum tax of 15% at the UK summit on Saturday. Switzerland is discussing how it will mitigate the tax and The City of London wants an exemption. The City London and Switzerland are aiming to mitigate the effects of the global minimum tax plan agreed by the G7 group of nations. The central Swiss government has discussed ways to offset the G7's minimum tax rate with the 26 Swiss cantons, according to the Financial Times. Sunak is attempting to get the City of London an exemption to any minimum tax rate, according to reports.
Persons: Janet Yellen, Ernst Stocker, Rishi Sunak, they're Organizations: City, US, Google, Facebook, of, Financial Times, City of, Guardian Locations: Switzerland, City, London, City London, Cornwall, UK, Ireland, of London, Zurich, City of London
Stocks rally, dollar stable after jump in U.S. CPI data
  + stars: | 2021-06-10 | by ( Herbert Lash | Simon Jessop | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File PhotoMSCI’s all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data’s release, while the dollar index was essentially flat, down 0.08%. A surprisingly strong U.S. inflation print in April spooked some investors, leading to a cautious run into the release on Thursday of the May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, Atlantic, European Central Bank, Morgan Locations: City, City of London, Britain, New York, Natixis, COVID, U.S, Treasuries
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
Bank of England's Haldane sees 'dangerous' inflation risk in UK
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018. "In my view this is the most ­dangerous moment for monetary policy since inflation-targeting was first introduced into the UK in 1992 after the European Exchange Rate Mechanism debacle," Haldane said. Haldane, who is due to leave the BoE after its monetary policy meeting later this month, cast a lone Monetary Policy Committee vote in May to reduce the size of the central bank's bond-buying programme. In an interview with LBC radio earlier on Wednesday, Haldane said inflation pressure in Britain was looking "pretty punchy". "And that may mean that at some stage we need to start turning off the tap when it comes to the monetary policy support we have been providing over the period of the COVID crisis."
Persons: Andy Haldane, Toby Melville, Haldane, BoE, Andrew Bailey, we've Organizations: Bank of England, City of, REUTERS, New Statesman, LBC, Thomson Locations: City, City of London, London, Britain
Slideshow ( 2 images )(Reuters) - British finance minister Rishi Sunak is pushing for the City of London to be exempt from a new global minimum corporation tax system championed by the Group of Seven (G7) economies, the Financial Times reported on Tuesday. Sunak raised the issue at the G7 talks in London, the report added, citing people briefed on the talks. Sunak is expected to make the case that the City of London should be exempt from the plan when talks move to the G-20 next month, the report added. “Our position is we want financial services companies to be exempt and EU countries are in the same position,” the report quoted one British official as saying. “The global tax agreement backed by G7 finance ministers reforms the global tax system to make it fit for the global digital age, achieving a level playing field for all types of companies”, a Treasury spokesperson said.
Persons: Rishi Sunak, 3zdHqtV, Sunak Organizations: City, Group, Financial Times, Ministers, Central Bank Governors Locations: British, London, United States, Britain,
UK pushes for City of London to be exempt from G7 global tax plan -FT
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A general view of the Canary Wharf financial district in London, Britain April 25, 2021. REUTERS/Kevin CoombsBritish finance minister Rishi Sunak is pushing for the City of London to be exempt from a new global minimum corporation tax system championed by the Group of Seven (G7) economies, the Financial Times reported on Tuesday. Sunak raised the issue at the G7 talks in London, the report added, citing people briefed on the talks. Sunak is expected to make the case that the City of London should be exempt from the plan when talks move to the G-20 next month, the report added. "Our position is we want financial services companies to be exempt and EU countries are in the same position," the report quoted one British official as saying.
Persons: Kevin Coombs, Rishi Sunak, Sunak Organizations: City, Group, Financial Times, Thomson Locations: London, Britain, Kevin Coombs British, United States
Bank of England's Haldane says UK housing market is on fire
  + stars: | 2021-06-08 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018. REUTERS/Toby Melville/File PhotoLONDON (Reuters) - Britain’s housing market is “on fire” thanks to a combination of government incentives for buyers, more demand from households with more savings after the COVID lockdowns, and a lack of homes for sale, Bank of England Chief Economist Andy Haldane said. “As things stand, the housing market in the UK is on fire,” Haldane said in remarks to a webinar on inequality organised by the University of Glasgow on Tuesday. He said the recent rise in house prices - which topped 10% over the 12 months to March, according to official data - was very likely to worsen pre-existing wealth inequalities.
Persons: Andy Haldane, Toby Melville, ” Haldane Organizations: Bank of England, City of, REUTERS, University of Glasgow Locations: City, City of London, London, Britain
Stocks touch new highs as volatility eases
  + stars: | 2021-06-08 | by ( Herbert Lash | Marc Jones | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. MSCI’s benchmark for global equity markets fell 0.07% to 716.48 after earlier scaling a fresh intraday high. In Europe, the pan FTSEurofirst 300 index added 0.08% to close at a new record high, while the STOXX 600 index rose 0.15% to also set a new closing high. The equity market’s so-called “fear gauge,” the VIX, fell to as low as 15.15, a level not seen since February 2018. The dollar index rose 0.109%, with the euro down 0.08% to $1.2179.
Persons: Toby Melville, don’t, Sterling, We’ve, , Simon Maughan, Lombard Organizations: Equity, London Stock Exchange Group, City of, REUTERS, Treasury, European Central Bank, Dow Jones, Nasdaq, ECB, Nikkei, drugmakers, Brent Locations: City, City of London, Britain, Europe, Beijing, Asia
Forced relocation of swaps clearing to EU would harm bloc, says LSE
  + stars: | 2021-06-07 | by ( Huw Jones | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Britain’s access to the EU financial market was largely severed after Brexit fully took effect on Dec. 31, 2020 and LCH has permission to serve EU customers only until June 2022. Some industry officials fear mandatory relocation could push euro clearing to New York in the same way as EU curbs has done to trading in euro derivatives. EU companies accounted for only 27.1% of euro-denominated interest rate derivatives clearing volumes at LCH in London in 2020, with 72.9% coming from non-EU firms, LSEG said. This illustrated the international use of the euro and the need for EU firms to access international clearers to hedge their risks in euros as well as in other non-euro currencies, it added.
Persons: Toby Melville, Brexit, LCH, ” LSEG, LSEG, “ LCH Organizations: European Union, London Stock Exchange Group, City of, REUTERS, Deutsche Boerse’s Eurex, EU, European Central Bank Locations: London, City, City of London, Britain, Frankfurt, New York, LCH
BoE's Cunliffe says UK is seeing strong post-COVID bounceback
  + stars: | 2021-06-04 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
FILE PHOTO: Britain's Deputy Governor of the Bank of England Jon Cunliffe speaks during the Bank of England's financial stability report at the Bank of England in the City of London, Britain June 27, 2017. REUTERS/ Jonathan Brady/Pool/File PhotoLONDON (Reuters) - Britain is enjoying a strong economic bounce-back as COVID restrictions lift, though pubs and restaurants are recovering faster than town-centre retail, Bank of England Deputy Governor Jon Cunliffe said on Friday. “What we’re seeing is a strong bounce back of activity,” Cunliffe told BBC Radio Suffolk after speaking to businesses in that region of eastern England. “People have accumulated a lot of savings, they’re going out and they’re spending, particularly in those areas we couldn’t go out in the last year or so,” he added.
Persons: Bank of England Jon Cunliffe, Jonathan Brady, Jon Cunliffe, ” Cunliffe Organizations: Bank of England, Bank of, City of, REUTERS, BBC Radio Suffolk, Locations: City, City of London, Britain, England
British shares muted ahead of economic data; airlines skid
  + stars: | 2021-06-04 | by ( Devik Jain | ) www.reuters.com sentiment -1.00   time to read: +2 min
The blue-chip FTSE 100 index (.FTSE) edged 0.1% lower, with British airways owner IAG (ICAG.L) shedding 1.2% after Britain removed Portugal from its quarantine-free travel list and added seven more countries to its red list. read moreOther airlines including Ryanair Holdings , Wizz Air (WIZZ.L) and EasyJet fell between 1% and 2.6%. Asian shares tracked Wall Street lower as signs of a firming U.S. economy stoked worries about higher inflation and an earlier withdrawal of Federal Reserve stimulus. "I don't think tapering of asset prices is anything to be worried about, it's a natural consequence of an economic rebound. Software company Sage Group (SGE.L) fell 1.5% after Goldman Sachs offered to sell about 16 million shares at a discounted price.
Persons: Toby Melville, EasyJet, Michael Hewson, Hewson, brokerages, Goldman Sachs Organizations: London Stock Exchange Group, City of, REUTERS, Ryanair Holdings, Wizz, CMC Markets, U.S ., Software, Sage Group, Thomson Locations: City, City of London, Britain, Portugal, London, U.S
REUTERS/Toby Melville/File PhotoBanks and industrial stocks weighed on London's FTSE 100 on Friday, while airline stocks came under pressure as Britain tightened travel restrictions again. The blue-chip FTSE 100 index (.FTSE) edged 0.1% lower, with HSBC (HSBA.L), Prudential (PRU.L), Barclays (BARC.L) and Lloyds banking group (LLOY.L) down between 0.7% and 1.2% after weaker than expected U.S. jobs data pushed bond yields lower. British airways owner IAG (ICAG.L) lost 0.9% after Britain removed Portugal from its quarantine-free travel list and added seven more countries to its red list. The domestically focused mid-cap FTSE 250 index (.FTMC) was also little changed, nudging up 0.1%. After breaking above the 7,000 mark in mid-April, the FTSE 100 index has oscillated in a narrow range on worries that rapid economic growth could lead to higher inflation and faster tightening of ultra-loose monetary policies.
Persons: Toby Melville, EasyJet, Danni Hewson, AJ Bell, brokerages Organizations: London Stock Exchange Group, City of, REUTERS, HSBC, Prudential, Barclays, Lloyds, BHP Group, Rio Tinto, Ryanair Holdings, Wizz, Federal Reserve, Thomson Locations: City, City of London, Britain, Rio, Portugal, England
Stocks up, dollar down as U.S. jobs data soothe rate hike fears
  + stars: | 2021-06-04 | by ( Lawrence White | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Market whispers had been for a higher number, he added, that would somewhat counterintuitively have driven stocks down on fears the Fed would tighten policy earlier than expected. The dollar index fell 0.47% after the data release, down from a multi-week high hit earlier on Friday. Last month, much-lower-than-expected non-farm payrolls numbers knocked back those expectations, weakening Treasury yields and the dollar, and the pattern repeated on Friday. Brent futures rose 71 cents to $72.00 a barrel, after reaching the highest since May 2019 in Thursday’s session.
Persons: Toby Melville, “ It’s, , Gennadiy Goldberg, Joe Biden, IAG, WTI Organizations: Federal Reserve, London Stock Exchange Group, City of, REUTERS, Securities, greenback, Treasury, U.S, British Airways, Wizz, Britain, Stock Locations: City, City of London, Britain, U.S, New York, U.S . Federal, Egypt, Sri Lanka, England, Brent, Thursday’s
Bank of England aims for net-zero emissions before 2050
  + stars: | 2021-06-03 | by ( David Milliken | ) www.reuters.com sentiment -1.00   time to read: +1 min
A man walks past the Bank of England in the City of London, Britain June 28, 2016. REUTERS/Paul Hackett/File PhotoBank of England Governor Andrew Bailey said on Thursday that the central bank would cut the carbon emissions from printing banknotes and running its buildings to net zero by 2050 at the very latest. British finance minister Rishi Sunak changed the BoE's mandate in March to require it to support the government's goal of reducing greenhouse gas emissions to net zero. "I can confirm today that the Bank is committing to reduce emissions from our physical operations so they will be consistent with net-zero by 2050 at the latest," Bailey said in a speech hosted by the Bank for International Settlements. read moreInstead, a better approach was to require businesses to disclose their climate impact clearly to investors, Bailey said.
Persons: Paul Hackett, Andrew Bailey, Rishi Sunak, Bailey, BoE, Sunak Organizations: Bank of England, City of, REUTERS, Bank for International, Thomson Locations: City, City of London, Britain, British, London
With eye on UK housing boom, BOE weighs inflation risk - Deputy Governor Ramsden
  + stars: | 2021-06-01 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Bank of England Deputy Governor for Markets and Banking, Dave Ramsden attends a Bank of England news conference, in the City of London, Britain November 1, 2018. Kirsty O'Connor/Pool via REUTERS/File PhotoThe Bank of England is carefully monitoring Britain's booming housing market as it weighs chances that a rapid recovery from the COVID-19 pandemic will lead to a broader pick-up in inflation, Deputy Governor Dave Ramsden said. The BoE would guard carefully against the risk of a generalised pick-up in inflationary pressure. "We are looking carefully at the housing market and a raft of real-term indicators," Ramsden was quoted as saying. We can push bank rate up from its historically low level (of 0.1%) and we know what that will do to demand."
Persons: Dave Ramsden, Kirsty O'Connor, Ramsden, BoE Organizations: of England, Markets, Banking, Bank of England, City of, Guardian, Nationwide, Thomson Locations: City, City of London, Britain
Europe's bourse share trading claims inaccurate, says industry body
  + stars: | 2021-05-31 | by ( Huw Jones | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Ralph OrlowskiThe bulk of share trading in the European Union takes place on exchanges with relatively little inside banks, an industry body said on Tuesday in a bid to stop what it called bourses seeking to "perpetuate their dominance". Oxera said it stripped out "technical trades", which represent a significant part of off-exchange trading but do not determine prices generally, to give a true picture of underlying activity. AFME Chief Executive Adam Farkas said the report showed how raw data from ESMA can be used to inaccurately represent the trading landscape and influence policymaking, with the risk of perpetuating the dominance of exchanges in share trading. Much of Europe's off-exchange trading has been based in Britain, which left the EU on Dec. 30, leading to chunks of trading leaving to City of London for Amsterdam, turning the Dutch capital into Europe's biggest share trading centre. The UK-venue share of overall European trading activity fell from around 40% from the first quarter of 2020 to around 20% in the same quarter this year, Oxera said.
Persons: DAX, Ralph Orlowski, ESMA, bourses, Oxera, Adam Farkas Organizations: REUTERS, European Union, Association for Financial Markets, European Commission, EU, Thomson Locations: Frankfurt, Germany, Europe, Europe's, Britain, City of London, Amsterdam
BoE's Haldane sees faint echo of 1970s in inflation spiral risk
  + stars: | 2021-05-28 | by ( Andy Bruce | ) www.reuters.com sentiment -0.97   time to read: +2 min
Most other rate-setters are more relaxed about the outlook for inflation than Haldane, and they stress that the coming rise in inflation is likely to be temporary. The BoE forecasts headline consumer price inflation will exceed its 2% target and touch 2.5% by the end of the year due to a range of one-off effects related to the pandemic. But it thinks price pressures will be muted in the longer-term, reflecting a return of subdued wage growth that was present before the pandemic. Earlier on Friday U.S. bank Citi and polling company YouGov said public inflation expectations for the year ahead had cooled slightly this month to 2.7%, down from 2.8% in April. “Household inflation expectations remain well anchored in our view.
Persons: Andy Haldane, Toby Melville LONDON, Haldane, There's, Gertjan Vlieghe, BoE, YouGov, Organizations: Bank of England, City of, REUTERS, Monetary, Centre, Financial, U.S, Citi Locations: City, City of London, London, Britain
Whilst employing a relatively small number of people, euro clearing is a central cog in European financial markets so EU policymakers argue they should have full oversight of it. LCH accounts for over 90% of global clearing in euro interest rate swaps and says it is already supervised by the EU. The global euro swaps market totals 100 trillion euros in notional outstanding, with LCH making up 80% and Eurex 20%. “We are in favour of a market-driven alternative for clearing euro swaps within the EU,” Eurex Clearing board member Matthias Graulich said. Eurex clears swaps and other products in euro, while LCH clears swaps in multiple currencies, making relocation harder.
Persons: Eric Thayer, Britain, don’t, , Bruce Savage, Albert Menkveld, Banks, LCH, Matthias Graulich, Eurex, ” Graulich, ESMA, FIA’s Savage, Scott O’Malia, It’s, Katharine Braddick Organizations: European, New York Stock Exchange, REUTERS, EU, London Stock, Boerse’s Eurex, LSE, European Commission, Futures Industry Association, Vrije Universiteit Amsterdam, International, Association, CME Locations: London, Frankfurt, New York, City of London, Germany, United States, Brussels, EU, Europe
Whilst employing a relatively small number of people, euro clearing is a central cog in European financial markets so EU policymakers argue they should have full oversight of it. LCH accounts for over 90% of global clearing in euro interest rate swaps and says it is already supervised by the EU. The global euro swaps market totals 100 trillion euros in notional outstanding, with LCH making up 80% and Eurex 20%. “We are in favour of a market-driven alternative for clearing euro swaps within the EU,” Eurex Clearing board member Matthias Graulich said. Eurex clears swaps and other products in euro, while LCH clears swaps in multiple currencies, making relocation harder.
Persons: Britain, don’t, , Bruce Savage, Albert Menkveld, Banks, LCH, Matthias Graulich, Eurex, ” Graulich, ESMA, FIA’s Savage, Scott O’Malia, It’s, Katharine Braddick Organizations: Industry, LSE, CME, European, EU, London Stock, Boerse’s Eurex, European Commission, Futures Industry Association, Vrije Universiteit Amsterdam, International, Association Locations: United States, London, Frankfurt, New York, City of London, Germany, Brussels, EU, Europe
Meggitt, real estate stocks lead FTSE 250 higher; Equiniti Group shines
  + stars: | 2021-05-27 | by ( Devik Jain | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) -British midcaps edged higher on Thursday, outperforming the blue-chip index for a third straight session led by gains in Meggitt and real estate stocks, while Equiniti Group jumped after agreeing to a take private deal. FILE PHOTO: A woman walks past the London Stock Exchange building in the City of London, Britain, January 16 , 2017. REUTERS/Toby MelvilleThe domestically focused FTSE 250 index rose 0.1%, with aero and defence stocks adding 1.5%. The FTSE 100 traded flat, with base metal miners adding 2% and offsetting losses in oil majors BP and Royal Dutch Shell. Johnson Matthey slipped 2.3% after the chemicals maker warned that rising metal prices could hit its cash flow.
Persons: Toby Melville, , Jeffrey Halley, Johnson Matthey Organizations: Reuters, Equiniti, London Stock Exchange, City of, REUTERS, Meggitt, UBS, FTSE, Royal, Shell, OANDA, Aviva Locations: Meggitt, City, City of London, Britain, U.S
Meggitt, real estate stocks lead FTSE 250 higher; Equiniti shines
  + stars: | 2021-05-27 | by ( Shivani Kumaresan | Devik Jain | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: A woman walks past the London Stock Exchange building in the City of London, Britain, January 16 , 2017. REUTERS/Toby Melville(Reuters) -British midcaps edged higher on Thursday, outperforming the blue-chip index for a third straight session led by gains in Meggitt and real estate stocks, while Equiniti Group jumped after agreeing to a take-private deal. The domestically focused FTSE 250 index rose 0.1%, with aero and defence stocks adding 1.7%. The FTSE 100 traded flat, with base metal miners adding 2.9% and offsetting losses in oil majors BP and Royal Dutch Shell. Johnson Matthey slipped 3.6% after the chemicals maker warned that rising metal prices could hit its cash flow.
Persons: Toby Melville, BoE policymaker Gertjan Vlieghe, , Russ Mould, AJ Bell, Johnson Matthey Organizations: London Stock Exchange, City of, REUTERS, Reuters, Equiniti, Meggitt, UBS, FTSE, Royal, Shell, Bank of England, Aviva Locations: City, City of London, Britain, Meggitt
Whilst employing a relatively small number of people, euro clearing is a central cog in European financial markets so EU policymakers argue they should have full oversight of it. LCH accounts for over 90% of global clearing in euro interest rate swaps and says it is already supervised by the EU. The global euro swaps market totals 100 trillion euros in notional outstanding, with LCH making up 80% and Eurex 20%. "We are in favour of a market-driven alternative for clearing euro swaps within the EU," Eurex Clearing board member Matthias Graulich said. Eurex clears swaps and other products in euro, while LCH clears swaps in multiple currencies, making relocation harder.
Persons: Eric Thayer, Britain, Bruce Savage, Albert Menkveld, Banks, LCH, Matthias Graulich, Eurex, Graulich, ESMA, FIA's Savage, Scott O'Malia, It's, Katharine Braddick Organizations: New York Stock Exchange, REUTERS, European, EU, London Stock, Deutsche, LSE, European Commission, Futures Industry Association, Vrije Universiteit Amsterdam, International, Association, CME, Thomson Locations: New York, London, Frankfurt, City of London, Eurex, Germany, United States, Brussels, EU, Europe
Refinitiv boss Craig to leave parent LSEG at end of year
  + stars: | 2021-05-26 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Toby Melville/File Photo/File PhotoCraig would serve in an advisory capacity from July and leave the company at the end of the year, the LSEG said in a statement. The takeover came into sharp focus on March 5 when LSEG shares tumbled more than 12% on higher-than-expected costs for improving the resilience of Refinitiv’s legacy platform. Craig became CEO of Refinitiv in 2018, having led the team that founded the company out of the financial and risk division of Thomson Reuters. “With credit to David, he took a long-term view when he first recruited Andrea,” LSEG CEO David Schwimmer said in the statement. (Graphic: LSEG shares - )
Persons: David Craig, Andrea Remyn Stone, Toby Melville, Craig, Blackstone, LSEG, Stone, , ” Stone, David, Andrea, , David Schwimmer, Schwimmer, Refinitiv Organizations: London Stock Exchange, Bloomberg, London Stock Exchange Group, City of, REUTERS, London bourse, Refinitiv, Thomson Reuters, Reuters News, Reuters Locations: City, City of London, Britain, London, Dealogic, Refinitiv, LSEG
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