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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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Two of the five US subsidiaries of European banks under the Federal Reserve’s supervision failed the regulator’s stress test this week, despite having some of the highest common equity tier one ratios under the Fed’s worst case scenario. The banks, mostly with US headquarters, that passed largely plan to increase dividends and buybacks
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Germany’s financial regulator this week cast further doubt on the planned merger between Deutsche Börse and the London Stock Exchange by objecting to a London headquarters for the group in the wake of the United Kingdom’s vote to leave the European Union.
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Clearing looks set to be one the first areas of London’s dominance as a financial centre to be challenged, following last week’s vote to leave the European Union, with uncertainty over the future of euro business putting pressure on central counterparties based in the UK to relocate their clearing operations elsewhere.
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Hong Kong’s Securities and Futures Commission (SFC) has censured units of Bank of America Merrill Lynch for failing to disclose dealings in relevant securities in two transactions last year.
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The Singapore Exchange (SGX) has extended the period of exclusive discussions with the Baltic Exchange for a proposed cash offer to acquire 100% of the shipping-based bourse.
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The United Kingdom's vote to leave the European Union sent traders, lawyers and trade associations into overdrive this week as they sought clarity on whether contractual changes for derivatives will be required, what form they would take and how they could be modelled.