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The Basel Committee of banking regulators from G20 and other economies proposed climate-related disclosures by banks to make it easier for investors to also compare climate exposures at lenders, and ensure banks hold enough capital to remain stable. The proposals provide more detailed banking sector climate-related disclosures to supplement broader corporate disclosures agreed at the global level by the International Sustainability Standards Board. Not all countries will apply ISSB disclosures, however, and it is unclear how Basel's disclosures would dovetail with corporate climate disclosures the European Union has finalised. Draft U.S. corporate climate disclosures from the Securities and Exchange Commission face heavy pushback from companies which want to ditch the inclusion of so-called Scope 3 greenhouse gas emissions produced by a company's customers. "For banks, financed emissions are often the most significant part of their total GHG emissions."
Persons: Amanda Perobelli, Huw Jones, Tomasz Janowski Organizations: Committee, International Sustainability, Union, Securities and Exchange Commission, Thomson Locations: Amazonia, Nova Xavantina, Mato Grosso, Brazil, Basel
Daniel Pinto, President and chief operating officer of JPMorgan Chase & Co, speaks during the Global Financial Leaders' Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone Siu Acquire Licensing RightsNEW YORK, Nov 28 (Reuters) - JPMorgan Chase (JPM.N) President and Chief Operating Officer Daniel Pinto said he expects its Chase UK consumer bank to break even in the next 12 to 18 months. The largest U.S. lender opened the digital bank in the UK in 2021, its first foray into international retail business. Chase UK is doing better than expected, Pinto said, and the company plans to grow in other global consumer markets over time. Brazilian digital bank C6, in which JPMorgan has 46% stake, is expected to break even "very soon," Pinto said.
Persons: Daniel Pinto, Tyrone Siu, JPMorgan Chase, Pinto, Jamie Dimon, Nupur Anand, Lananh Nguyen, Sharon Singleton Organizations: JPMorgan Chase &, Global Financial, Investment, REUTERS, Tyrone, JPMorgan, Chase, Financial, Thomson Locations: Hong Kong, China, United Kingdom, U.S, Basel, New York
The logo of Swiss drugmaker Novartis is pictured at the company's French headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsCompanies Novartis AG FollowSandoz GmbH FollowFRANKFURT, Nov 28 (Reuters) - Novartis (NOVN.S) has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after it sold off its generic-drugs business. The medium-term target, which excludes any foreign exchange effects, is mainly driven by six drugs, led by Kisqali, it said in a presentation on Tuesday. The sales forecast, up from a previous revenue growth target of 4% through 2027, is also underpinned by demand for Pluvicto, a precision radiotherapy against prostate cancer, and self-administered multiple sclerosis (MS) shot Kesimpta. Reporting by Ludwig Burger; Editing by Miranda Murray and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Charles Platiau, Kisqali, Vas, Kesimpta, drugmaker, Sandoz, Ludwig Burger, Miranda Murray, Miral Organizations: Swiss, Novartis, REUTERS, Companies Novartis, Sandoz, FRANKFURT, Thomson Locations: Rueil, Malmaison, Paris, France, Basel, Swiss
Betty Rollin, a network news correspondent who described intensely personal life passages in two memoirs — “First, You Cry,” about being diagnosed with breast cancer and having a mastectomy, and “Last Wish,” in which she revealed that she had helped her pain-ravaged mother end her life — died on Nov. 14 in Basel, Switzerland. She was 87. The cause was voluntary assisted suicide, at Pegasos, an assisted dying service, said Ellen Marson, a close friend, who disclosed the death to The New York Times on Thursday. Ms. Rollin had been dealing with pain from arthritis and a gastrointestinal condition, she said, and had been brokenhearted since the death of her husband, Harold Edwards, a mathematician, in 2020. “Betty recently told a few close friends she was going to do this,” Ms. Marson wrote in an email.
Persons: Betty Rollin, — “, , Ellen Marson, Ms, Rollin, Harold Edwards, “ Betty, Marson, Betty Organizations: New York Times Locations: Basel, Switzerland, Pegasos, Manhattan
Canada financial regulator seeks feedback on crypto disclosures
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +1 min
Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Canada's financial watchdog said on Monday it was seeking feedback on the public disclosure of cryptocurrency assets by federally regulated financial institutions, joining global regulators in ramping up scrutiny on the volatile sector. The consultation by Canada's Office of the Superintendent of Financial Institutions (OSFI) comes after the agency in July proposed new guidelines for crypto assets citing a risky environment. The OSFI's consultation will be running alongside another from the Basel Committee on Banking Supervision (BCBS), a global supervisory body which has also sought feedback from internationally active banks on the disclosure of crypto-asset exposures. Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Arasu Kannagi Basil, Devika Organizations: REUTERS, Canada's Office, Banking, Thomson Locations: Basel, Bengaluru
During Art Basel Miami next month, St. Fleur said that he intended to visit the art fairs with former N.B.A. players like Deron Williams, Courtney Lee and Amar’e Stoudemire, and that he was arranging a private dinner for some of his athlete clients at a collector’s home on Star Island. There are other signs that the influence of athletes who collect art has been growing in recent years. He served on the board of advisers of the Hammer Museum in Los Angeles and now serves on the board of the Hirshhorn in Washington. “I wanted to think outside the box and give our players #athletes an opportunity to engage with ART done by African American Artists and respond to the cultural richness of these artists, as well as draw their own interpretation of the works.”
Persons: Kevin Love, Cindy Sherman, Cy Twombly, Ernie Barnes, Fleur, Deron Williams, Courtney Lee, Amar’e Stoudemire, Keith Rivers, Kerry James Marshall, Sonia Gomes, Thaddeus Mosley, Elliot Perry, , Organizations: Miami Heat, Art Basel Miami, Star, Art Foundation, Hammer Museum, Hirshhorn, Memphis Grizzlies, American Artists Locations: New York, Manhattan, Los Angeles, Washington
REUTERS/Evelyn Hockstein Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - The Federal Reserve's top bank watchdog defended its push to overhaul capital requirements, saying they would have a minimal impact on borrowing costs and make the industry more stable. Michael Barr, the Fed's vice chair for supervision, told a conference in New York on Friday that the so-called "Basel endgame" proposal is mainly focused on raising capital requirements for activities like trading, rather than lending. "Normally, we issue a proposal and then we get very detailed commentary, and we take those comment letters into account." Banks have loudly complained about the proposal, which overhauls how banks gauge their risk and require them to set aside more capital. Industry executives said the draft rules would force them to raise costs and potentially curb lending.
Persons: Michael Barr, Evelyn Hockstein, Banks, Barr, Pete Schroeder, Lananh Nguyen, Chizu Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Federal, Bank, National Football League, Industry, Thomson Locations: Washington , U.S, New York
James Gorman, chairman and chief executive of Morgan Stanley, speaks during the Global Financial Leader's Investment Summit in Hong Kong, China, on Tuesday, Nov. 7, 2023. The de-facto central bank of the Chinese territory is this week holding its global finance summit for a second year in a row. Photographer: Lam Yik/Bloomberg via Getty ImagesSINGAPORE — Morgan Stanley Chairman and CEO James Gorman said his firm will be able to cope with "any form" that new banking regulations end up taking, but added he expects some watering down before the final rules are confirmed. U.S. regulators on Tuesday defended their plans for a sweeping set of proposed changes to banks' capital requirements, speaking in front of the U.S. Senate Banking Committee. These proposed changes in the U.S. seek to incorporate parts of international banking regulations known as Basel III, which was agreed to after the 2008 crisis and has taken years to roll out.
Persons: James Gorman, Morgan Stanley, Lam Yik, Getty Images SINGAPORE — Morgan Stanley, it's, Gorman, Morgan, I've Organizations: Financial, Investment, Bloomberg, Getty Images SINGAPORE, U.S . Senate Banking Committee, Basel III, CNBC, Pacific, Federal Reserve, Fed Locations: Hong Kong, China, U.S, Basel, , Morgan Stanley's, Asia, Singapore, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley CEO and chairman James Gorman on Basel III readinessMorgan Stanley will be able to cope with "any form" of the Basel III "end game," says chairman and chief executive James Gorman.
Persons: Morgan Stanley, James Gorman Organizations: Basel III Locations: Basel
A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsFRANKFURT, Nov 16 (Reuters) - The European Central Bank's chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS (UBSG.S) earlier this year. The Basel Committee said in a report last month it would review the features of AT1 bonds, including the "loss-absorbing hierarchy". But Credit Suisse's bonds contained a clause allowing authorities the write down those bonds without winding down the bank. This clause is not a feature in bonds issued by European Union banks and the ECB has made clear that it would impose losses on shareholders first.
Persons: Heiko Becker, Andrea Enria, Enria, Pablo Hernández de Cos, Francesco Canepa, Balazs Koranyi, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, Central Bank's, UBS, ECB, Banking Supervision, Basel, Committee, European Union, Thomson Locations: Frankfurt, Germany, Swiss, Basel
Late Israel equaliser puts Swiss Euro 2024 qualification on ice
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
The unbeaten Swiss moved top of Group I, with 16 points from eight matches, but only ahead of Romania on goal difference. Israel are third on 12 points with all three countries having two games left. Vargas came within inches of doubling his tally five minutes after his goal when he thundered a shot off the crossbar. As a result, Israel play four games in the space of nine days to complete their qualifying campaign. The Swiss face Kosovo in Basel on Saturday and then complete their campaign away in Romania on Tuesday.
Persons: Israel, Shon Weissman's, Ruben Vargas, Edimilson Fernandes, Weisman’s, Fernandes, Noah Okafor, Vargas, Sean Goldberg, Dor Turgeman’s, Turgeman, Yann Sommer, Mark Gleeson, Toby Davis Organizations: European Championship, Kosovo, Swiss, Palestinian, Hamas, Romania, Puskas Academy Arena, Thomson Locations: FELCSUT, Hungary, Switzerland, Germany, Swiss, Romania, Israel, Kosovo, Budapest, Andorra, Basel, Cape Town
CNN —Carlos Alcaraz suffered defeat on his ATP Finals debut on Monday, as Alexander Zverev battled back from a set down to win 6-7 (3-7) 6-3 6-4. “It’s the only tournament where a loss does not knock you out,” Alcaraz said, per the ATP. At the end of the second set and the start of the third, I hit three or four shots out straight away. “I watch Novak, for example, and he doesn’t give anything away straight away. My consistency was really lacking against Zverev.”Alcaraz hadn’t played since that shock defeat Safiullin on October 31 after being forced to withdraw from an ATP tournament in Basel with foot and back injuries.
Persons: CNN — Carlos Alcaraz, Alexander Zverev, Grigor Dimitrov, Roman Safiullin, Alcaraz, Andrey Rublev, , ” Alcaraz, Novak, Alcaraz hadn’t, Safiullin, Clive Brunskill, he’s, “ It’s, , ” Zverev, Zverev, Daniil Medvedev Organizations: CNN, ATP, Shanghai, Paris, Zverev Locations: Turin, Italy, Basel, China, Germany, Paris
He warned the EU's framework placed banks' activity as a 'crypto-asset service provider' -- such as acting as a custodian for customer wallets, exchanging tokens or managing crypto portfolios -- outside of the ECB's purview as a banking supervisor. "In fact, if crypto-asset service providers controlled by banks are not within the scope of their prudential consolidation, the BCBS standard and especially the exposure limit may become ineffective." He added crypto asset service providers should be added "as a matter of urgency" to the list of financial institutions that the ECB supervises under EU rules. MiCAR entered into force at the end of June and will take full effect by the end of next year. The Basel Committee's global standards on exposures to crypto assets are due to be transposed into EU law by Jan. 1, 2025.
Persons: Dado Ruvic, Andrea Enria, Enria, MiCAR, Jan, Claudia Buch, Francesco Canepa, Susan Fenton Organizations: REUTERS, Rights, Central Bank's, Banking, ECB, prudential, EU, Thomson Locations: EU, Venice, Basel
REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts. The proposal would overhaul how banks gauge risk and, in turn, how much capital they must hold against potential losses. Regulators say stronger cash cushions will make the financial system safer and are especially crucial after three banks failed earlier this year. As part of their campaign to kill the Basel proposal, banks have been lobbying lawmakers to put pressure on the regulators. On Monday, 39 Senate Republicans stepped up the pressure, asking the regulators to scrap the proposal, citing economic harm.
Persons: Michael Barr, Evelyn Hockstein, Barr, Federal Deposit Insurance Corporation's Martin Gruenberg, Mike Hsu, Mark Warner of Virginia, Jon Tester, Isaac Boltansky, Gruenberg, Michelle Price, Pete Schroeder, Jonathan Oatis Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, Federal Deposit Insurance, Financial, Democrat, Senate, Republicans, Journal, Industrial, Commercial Bank of China, Treasury, Thomson Locations: Washington , U.S, U.S, Basel, Montana
Companies United States Senate FollowWASHINGTON, Nov 13 (Reuters) - A group of 39 Senate Republicans in a letter on Monday called on major U.S. banking regulators to withdraw a contentious proposal to significantly raise bank capital requirements, warning it could hinder lending and harm the economy. Regulators said stronger cushions will guard against future unforeseen risks, and cited the failures earlier this year of three large U.S. lenders as a warning. * Regulators have said they are continuing to gather data for the proposal, and have given firms more time to provide feedback. * Senator Tim Scott, the top Republican on the Senate Banking Committee and a former presidential candidate, and Senate Minority Leader Mitch McConnell were among the senior Republicans in the chamber to sign Monday's letter. WHAT'S NEXTU.S. banking regulators are due to testify before the Senate Banking Committee on Tuesday, when they are expected to be pressed on the proposal by Republicans.
Persons: Banks, Tim Scott, Mitch McConnell, Pete Schroeder, Paul Simao, Jonathan Oatis Organizations: United States, WASHINGTON, Republicans, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Republican, Senate Banking Committee, Fed, OCC, NEXT, Thomson Locations: Basel
The top Christmas markets for 2024
  + stars: | 2023-11-12 | by ( Tamara Hardingham-Gill | ) edition.cnn.com   time to read: +22 min
Basel Christmas Market, SwitzerlandBasel Christmas Market is made up of decorated stalls selling Christmas spices, decorations and candles. Strasbourg Christmas Market, FranceOne of Europe’s oldest Christmas markets, Strasbourg began back in 1570, but it’s evolved considerably since then. Old Town Square and Wenceslas Square Christmas markets, Prague, Czech RepublicTo say the city of Prague goes all out at Christmas is something of an understatement. Skansen’s Christmas Market, StockholmStockholm isn’t exactly lacking when it comes to Christmas markets, but none are more traditional than Skansen. St. Stephen’s Basilica and Vörösmarty Square markets, Budapest, HungaryBudapest has two main festive markets: St. Stephen’s Basilica Christmas market, or Advent Bazilika, and Vörösmarty Square Christmas market.
Persons: Wiener, Wiener Christkindlmarkt, it’s, Kleber, Laia Ros, Wenceslas, Santa Llucia, Mercati Natale, Piazza Santa, there’s, you’ll, Walt Disney, Lucia’s, Tuomaan, Emperor Alexander II, Santa Claus, Bazilika, Germany Gendarmenmarkt, Massimo Borchi, Dom, Deutscher Dom, Bavaria’s, Gendarmenmarkt, Jeff J Mitchell, Scott, Dominika, Glowny, Adam Mickiewicz, Steve Russell, Colin Miller, Manhattan’s, Josephine Shaw Lowell Fountain Organizations: CNN, City Hall, Basel, Switzerland Basel Christmas, Getty, Belgium’s, Bourse, Monnaie, Sainte, Marche aux Poissons, Fira, Barcelona Cathedral, Santa, Cisco Pelay, Piazza Santa Croce, Santa Croce, Tivoli Gardens, Estonia Estonia's, Markkinat, Vörösmarty, Nuremberg, Hyde, London Hyde, Food, Edinburgh, Scotland Scottish, Street Gardens, Scottish, Street, Edinburgh Castle, Andrew, George, East, Poland Krakow Christmas, Bratislava, Slovakian, Distillery, Toronto Star, Toronto, Distillery District, , New York Skaters, Bank of America, The Bank of America, Christkindlmarket Chicago, Daley, RiverEdge, Christkindlmarket Locations: Vienna, Germany, Switzerland, Singapore, New York, Austria, Barfüsserplatz, St, Basel, Strasbourg, France, Belgium, Brussels, Sainte Catherine, Marche, Belgian, Place, Prague, Czech Republic, Czech, Old, Santa Llucia, Barcelona, Santa, Florence, Italy, Heidelberg, Piazza del, Zagreb, Croatia, Advent, Tivoli , Copenhagen, Denmark, Danish, Tivoli, Tallinn, Estonia, Estonia Estonia's Tallinn, Estonian, Stockholm Stockholm, Djurgarden, Skansen’s, Tuomaan Markkinat, Helsinki, Ryhor, Helsinki’s, Stephen’s, Budapest, Hungary Budapest, Gendarmenmarkt, Capital, Berlin, Nuremberg, London, United Kingdom, Christmas, Edinburgh, Krakow, Poland Krakow, Polish, Europe, Mary’s, Slovakia, Bratislava, Bay, Toronto, Distillery, Bryant, , New, Manhattan’s Bryant, Chicago, Windy City, Aurora
Israeli strikes hit near hospitals in Gaza City as the military pushed deeper into dense urban neighborhoods in its battle with Hamas militants. The number of Palestinians killed in the war has risen to over 10,800, including more than 4,400 children, the Hamas-run Health Ministry in Gaza said. In the occupied West Bank, more than 160 Palestinians have been killed in the violence and Israeli raids. Basel Zalabani, Mohammed’s father, said that Israeli forces had arrested him and his other 18-year-old son Yazan ahead of the demolition. Since the Hamas attack on Israel on Oct. 7, at least five Romanian citizens have been confirmed killed.
Persons: Gaza’s, Marine Le, JERUSALEM, Mohammed’s, Yazan, , Australia — Francesca Albanese, Israel, ” Albanese, , they'll, ” CloudFlare, NETANYAHU, ISRAEL, Benjamin Netanyahu, Netanyahu, “ Writers Bloc ” Organizations: Hamas, Nations, Ministry, West Bank, , United States Office, Palestinian Affairs, Bank, Basel, UN, won’t, Romania — Romania’s Ministry of Foreign Affairs, United Arab Emirates, UNITED, . Development, Social Commission, West, Fox News, The New York Times, “ Writers Bloc, New York Times, The Associated Press, of Liberty and Grand Locations: Gaza City, Gaza’s, Israel, Gaza, Hungary, israel, ISRAEL, Jerusalem, West, Jenin, ADELAIDE, Australia, Adelaide, GAZA BUCHAREST, Romania, Egypt, Rafah, Cairo, Bucharest, YEMEN, DUBAI, United Arab, Yemen, YemenNet, Saudi, Red City, Hodeida, Syria, Ukraine, West Asia, Palestinian, GAZA Israeli, deradicalized, Manhattan, New York
A logo is seen at the headquarters of agricultural chemical maker Syngenta in Basel, Switzerland January 30, 2020. "Given weak market conditions we expect that the company will IPO by the end of next year," a company spokesman said on Thursday after Syngenta reported its Q3 earnings. The IPO update came as Syngenta, which competes with U.S. company Corteva (CTVA.N) and German firms BASF (BASFn.DE) and Bayer (BAYGn.DE), reported its latest earnings. Syngenta, which recently announced a change of chief executive and chief financial officer, has been pursuing an IPO for nearly two and half years. Syngenta was bought by ChemChina in 2017 for $43 billion and folded it into Sinochem Holdings Corp in 2021.
Persons: Arnd, Syngenta, John Revill, Kirsti Knolle, Robert Birsel Organizations: Syngenta, REUTERS, Rights, U.S, BASF, Bayer, Shanghai Stock Exchange, ChemChina, Sinochem Holdings Corp, Thomson Locations: Basel, Switzerland, Swiss, Brazil
ATP roundup: Alexander Shevchenko advances to Metz semifinals
  + stars: | 2023-11-09 | by ( ) www.reuters.com   time to read: +1 min
Shevchenko overcame a 10-3 disadvantage in aces by converting two of three break points, to 0-for-3 for Khachanov. Shevchenko advanced to the semifinals Friday against wild card Pierre-Hugues Herbert, who outlasted fellow Frenchman Luca Van Assche 4-6, 6-3, 7-5 on Thursday. Sofia OpenSecond seed Adrian Mannarino and third seed Jan-Lennard Struff avoided upsets with three-set victories Thursday in the quarterfinals in Bulgaria. Mannarino of France eliminated seventh seed Sebastian Ofner of Austria 6-7 (7), 6-4, 6-3. Mannarino advanced to the semifinals Friday against Russia's Pavel Kotov, who defeated eighth seed Marton Fucsovics of Hungary 6-3, 7-6 (3).
Persons: Russia's Alexander Shevchenko, Canada's Felix Auger Aliassime, Pierre Albouy, Alexander Shevchenko, Karen Khachanov, Shevchenko, Pierre, Hugues Herbert, Frenchman Luca Van Assche, Ugo Humbert, Frenchman Harold Mayot, Lorenzo Sonego, Fabio Fognini, Adrian Mannarino, Lennard Struff, France, Sebastian Ofner, Germany's Struff, Hungary's Fabian Marozsan, Struff, Great, Jack Draper, Lorenzo Musetti, Cem Ilkel, Mannarino, Russia's Pavel Kotov, Marton Organizations: Swiss, Basel, Canada's Felix Auger Aliassime REUTERS, Khachanov, Sofia, Thomson Locations: Jakobshalle, Basel, Switzerland, Metz, France, Italy, Bulgaria, Mannarino, Austria, Turkey, Marton Fucsovics, Hungary
"Liquidity assistance alone would not have resolved thecrisis," he said, adding that other measures like the eventual state-brokered takeover by rival Swiss bank UBS (UBSG.S) were needed. This limited the level of cash that could be offered via the Emergency Liquidity Assistance scheme (ELA), the SNB's usual tool as lender of last resort. Additional money was provided for Credit Suisse via the Emergency Liquidity Assistance (ELA+), which provided cash secured only by preferential rights if Credit Suisse went bankrupt rather than against collateral. In future, Schlegel said improved preparation of collateral was needed by banks to allow them to better access emergency funding through existing schemes. "ELA+ was necessary in the specific case of Credit Suisse, but it is not a model for managing future crises," Schlegel said.
Persons: Banks, Martin Schlegel, Schlegel, ELA, John Revill, Sharon Singleton Organizations: Credit, Credit Suisse, Reuters, Swiss National Bank, UBS, Thomson Locations: ZURICH, Basel, Swiss
[1/3] UBS Chairman Colm Kelleher looks on during the Global Financial Leaders' Investment Summit, in Hong Kong, China November 7, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Nov 7 (Reuters) - Top global banking chiefs on Tuesday said they are concerned the financial sector's next crisis may come from rising geopolitical uncertainty which could test financial market resiliency, while the industry remains vulnerable to regulatory tightening. The trigger for the next global financial crisis is likely to come from the geopolitical or political space, said Morgan Stanley (MS.N) Chairman and CEO James Gorman. Gorman was among more than a dozen top executives of international firms speaking at the Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority. REGULATION "WAY TOO FAR"The global banking bosses also took the stage of the Asia summit to voice their concerns in an unusually aggressive joint effort to push back on a set of stricter banking rules.
Persons: Colm Kelleher, Tyrone Siu, Morgan Stanley, MS.N, James Gorman, Gorman, " Gorman, Christian, Goldman Sachs, David Solomon, Solomon, Morgan Stanley's Gorman, Selena Li , Kane Wu, Xie Yu, Scott Murdoch, Summer, Tom Hogue, Christopher Cushing, Lincoln Organizations: UBS, Global Financial, Investment, REUTERS, Tyrone, Investment Summit, Hong Kong Monetary Authority, Deutsche Bank, Christian Sewing, UBS Group, Thomson Locations: Hong Kong, China, HONG KONG, Israel, Gaza, Russia, Ukraine, Asia, U.S
No goal of month winner for Basel after horror-show October
  + stars: | 2023-10-31 | by ( ) www.reuters.com   time to read: +1 min
Oct 31 (Reuters) - Swiss club Basel's season has gone from bad to worse since it began in July, and with no goals scored in October, they were unable to announce a goal of the month winner on Tuesday. With four defeats from four games in October, Basel conceded 10 goals and scored none, which led to the club posting a photo of a goal net and a caption which read "No goals in October = No goal of the month" on their social media accounts. The club are currently bottom of the Swiss league, with just one win in 11 games, and were also knocked out of the Europa Conference League in the second qualifying round by FC Tobol of Kazakhstan. The game should, they will hope, give them a decent chance of at least having some goals to choose from for November's goal of the month award. Reporting by Trevor Stynes Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.
Persons: Heiko Vogel, Fabio Celestini, Trevor Stynes, Christian Radnedge Organizations: Swiss, Europa Conference League, FC Tobol, Conference League, Basel, SC Kriens, Thomson Locations: Basel, Kazakhstan, It's
LONDON, Oct 30 (Reuters) - The European Central Bank has made "disappointingly slow" progress in tackling core issues at some banks it supervises, while too little integration in the sector remains a "dangerous fault line," ECB top banking supervisor Andrea Enria said on Monday. "But a failure to tackle weaknesses that have been identified could lead to existential threats for banks, as we saw at Credit Suisse and some US regional banks in the Spring of 2023," he added. More cross-border consolidation among banks would put the sector on a stronger footing, but there is a lack of support for this from EU states, he said. But if the system breaks down again, repairing it could prove to be very difficult and expensive." Reporting by Huw Jones; Editing by Chris Reese and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrea Enria, Enria, Huw Jones, Chris Reese, Hugh Lawson Organizations: European Central Bank, ECB, Credit Suisse, Silicon Valley Bank, Federal Reserve, Basel Committee, London School of Economics, Thomson Locations: Silicon, Basel
ATP roundup: Andrey Rublev wins in Vienna, lands Finals spot
  + stars: | 2023-10-27 | by ( ) www.reuters.com   time to read: +2 min
Rublev had 21 winners against six unforced errors while reaching the Finals for the fourth straight year. Arnaldi had 19 winners and 11 unforced errors. Croatian wild card Borna Gojo had 22 winners and five unforced errors while upsetting sixth-seeded Tommy Paul 6-3, 6-4. Shevchenko, from Russia, had 40 winners and just eight unforced errors while outlasting third-seeded Taylor Fritz 6-7 (7), 7-6 (6), 7-6 (5). Griekspoor of the Netherlands need just 84 minutes to complete a 6-4, 6-3 win over Australia's Alex de Minaur, the No.
Persons: Andrey Rublev, Russia's Daniil Medvedev, Brendan Mcdermid, Italy's Matteo Arnaldi, Rublev, Arnaldi, Daniil Medvedev, Medvedev, Bulgaria's Grigor Dimitrov, Sinner, Lorenzo Sonego, Gojo, Tommy Paul, Tsitsipas, Tomas Machac, Frances Tiafoe, France's Gael Monfils, Basel Dominic Stricker, Alexander Shevchenko, Tallon Griekspoor, Ugo Humbert, Casper Ruud of Norway, Taylor Fritz, Alex de Minaur, France's Humbert, Nicolas Jarry of, Holger Rune, Argentina's Sebastian Baez, Felix Auger, Botic van de Zandschulp Organizations: Russia's, Russia's Daniil Medvedev REUTERS, Erste Bank, France's Gael, Swiss, Basel, Shevchenko, Denmark, Thomson Locations: Flushing Meadows , New York, United States, Vienna, Croatian, Czech Republic, Switzerland, Stricker, Russia, Netherlands, Nicolas Jarry of Chile, Canada
ATP roundup: Top seed Holger Rune squeaks into Basel semis
  + stars: | 2023-10-27 | by ( ) www.reuters.com   time to read: +1 min
1 seed Holger Rune of Denmark got past Argentina's Tomas Martin Etcheverry 6-1, 3-6, 7-6 (6) Friday to reach the semifinals of the Swiss Indoors Basel. But on the 13th point, Rune hit a dead netcord for a flukey, if fortunate, point. Hurkacz rallied past Dutch opponent Tallon Griekspoor 6-7 (6), 6-4, 6-4, while Humbert beat Swiss wild card Dominic Stricker 6-4, 2-6, 6-2. 1 seed Daniil Medvedev of Russia needing three sets to beat countryman and eighth seed Karen Khachanov 6-3, 3-6, 6-3 in the quarters. 2 seed Jannik Sinner of Italy won 32 of 38 first-service points (84.2 percent) to beat seventh-seeded American Frances Tiafoe 6-3, 6-4.
Persons: Holger Rune, Denmark, Argentina's Tomas Martin Etcheverry, Rune, Felix Auger, Alexander Shevchenko, Hubert Hurkacz, Ugo Humbert of France, Hurkacz, Tallon Griekspoor, Humbert, Dominic Stricker, Daniil Medvedev, Karen Khachanov, Medvedev, Stefanos Tsitsipas, Croatia's, Italy, Frances Tiafoe, Andrey Rublev, Alexander Zverev Organizations: Swiss Indoors Basel, Russian, Swiss, Erste Bank, Thomson Locations: Canadian, Poland, Vienna
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