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Europe’s self-proclaimed investment banking champions are playing to their strengths, but remain far behind US peers
After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Deal raises questions about whether transaction was done at arm's length
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
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The renminbi suffered a setback and was overtaken by the Canadian dollar as the fifth most used currency for payments globally, according to the Society for Worldwide Interbank Financial Telecommunication’s (Swift) RMB tracker for June. -
The Indian government is setting aside Rp229.15bn ($3.42bn) in additional funds for the 2016-2017 fiscal year to recapitalise its state-owned banks, according to a Ministry of Finance announcement.
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China gave the first sign that it has started phase two of the renminbi cross-border interbank payment system (CIPS) with Bank of China Hong Kong (BOCHK) becoming the first offshore direct participant last week.
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The City of Bristol Pension Fund has joined the Boston Retirement System in filing a lawsuit against a group of banks and traders for alleged manipulation of SSA debt in the secondary market.
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UK Asset Resolution (UKAR) suspended its policy of preventing its sellside advisers from taking on buyside roles in portfolio sales, allowing Credit Suisse to work for both sides during the £13.3bn sale of the Northern Rock Granite portfolio, according to a report from the National Audit Office released on Tuesday.
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Persistent dislocations between the CDS and cash bond markets are only likely to continue, because of the increased cost of regulations, limited balance sheet capacity at banks, and relative illiquidity in the cash bond markets, according to a staff report from the New York Federal Reserve.
