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Financial Conduct Authority's compensation scheme looks set to hit Blue Motor Finance hard, although there is still confidence in the market
Equity market bodies try to pre-empt regulator's July consultation and consolidated tape decision
Artificial intelligence is changing the investment banking game. But banks are divided on whether to cut costs or try and win more deals
Tej Singh leaves firm suddenly
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A Dutch court has ruled that Royal Dutch Shell is partly responsible for climate change and must reduce its global carbon emissions — including those caused when customers burn its products — by 45% from 2019 levels by 2030. If the ruling is sustained on appeal it would cause a seismic shift in the balance of power on climate change, with huge implications for financial markets. -
Greece has overtaken Italy as the biggest source of non-performing-loan ABS issuance in Europe, with banks stepping up issuance with a slew of transactions in 2021 as Italian institutions wind down their post-financial crisis backlog of bad debt.
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Deutsche Bank held a three hour “deepdive” into its sustainability actions for clients, investors, the press and NGOs last week, with its CEO Christian Sewing and all its business heads. It coincided with an array of announcements, which even earned a favourable comment from Moody’s, including that Deutsche is accelerating its €200bn sustainable financing target. But those hoping for more detail on how Deutsche will decarbonise its financing were disappointed.
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Partners Group is marketing Penta CLO 9, a new CLO with a score related to environmental, sustainable and governance factors, following three similar transactions. But market participants question whether ESG scores are likely to turn the CLO market green.
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In this round-up, Chinese president Xi Jinping has promised $3bn in additional support to developing countries fighting the pandemic, the State Council explicitly bans bitcoin mining and trading as part of an intense crackdown on cryptocurrencies, and Liaoning province is set to welcome a new city commercial bank.
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International Finance Corp has bolstered its annual questionnaire to underwriters, which formally integrates environmental, social and governance considerations into the selection of its bookrunners.
