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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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Pemex CFO, Mario Beauregard has resigned from the state-owned Mexican oil giant and will be replaced by a peer from a fellow government enterprise.
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London Stock Exchange Group (LSEG) and India’s Yes Bank have signed a memorandum of understanding to work together on bond and equity issuance, with a special focus on green infrastructure finance. -
Korea Exchange (KRX) is looking to introduce a market maker system to boost trading in stocks with low liquidity, while also bringing in measures to prevent large losses caused by erroneous trades.
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ICAP’s agreement to sell its voice broking business to Tullett Prebon, signed on Wednesday, will free the former's profitable electronic trading, post-trade and indexing businesses from the regulatory capital pain that comes from being part of a broker. Meanwhile, Tullett Prebon will become the largest player in hybrid voice broking, taking over ICAP’s voice and information business.
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RBS’s plan for its investment bank assumes no revenue attrition in the division, despite further ambitious cost-cutting plans that will take out £2bn of costs in the next three years.
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The European Union has hit a big setback in its drive to overhaul financial market rules, with its chief markets regulator demanding a delay of as much as a year before implementing its flagship regulation, Markets in Financial Instruments Directive (MiFID II). But market participants greeted the reprieve as a welcome and necessary delay.
