UK

European banks have taken full advantage of a window for issuance after second quarter results, with Lloyds Banking Group becoming the latest name to test the depth of the dollar market in the middle of summer.

US sports tycoon Stan Kroenke will use a bridge loan facility to buy metals magnate Alisher Usmanov’s 30% stake in Arsenal, to claim full ownership of the London football club.

Rainbow Rare Earths Ltd, the rare earth element mining company, has priced a £1.6m capital increase to finance a new mining development in Murambi, a remote town in Northern Rwanda.

The need to offer healthy new issue premiums is not holding back additional tier one bond issuers this summer. Barclays reopened the market for the product in dollars on Tuesday, to be quickly followed by BNP Paribas.

Credit Suisse and Standard Chartered are providing a $1.1bn loan to back the delisting of Indian metal and mining company Vedanta Resources from the London Stock Exchange.

Barclays has opened books on a long-awaited additional tier one bond, with four of its outstanding deals set to hit their first call dates in the next year.

Interdealer broker TP ICAP revealed on Tuesday that it had chosen Paris as its post-Brexit hub in the European Union, as new CEO Nicolas Breteau called for the flexibility to pay company brokers the "market rate".

Charles Rolls and Tim Warrillow, the co-founders of Fever-Tree Drinks, the London-based maker of premium tonic water and other mixers for spirits, sold £103m of shares in the company on Monday, monetising some of their gains since the IPO and strengthening the shareholder register.

Dee Blake, the head of regulation at ICE Futures Europe, has left the company according to sources.

A research note by the Financial Conduct Authority (FCA) has concluded that the phase-in of initial margin requirements for non-cleared derivatives trades will largely fail to make the process “gradual” and easier to stomach for UK counterparties.

On Monday, asset managers holding HSBC’s discount perpetual bonds (discos) again pressed the bank to clarify why it classified the securities as fully eligible regulatory capital. A recent Bank of England policy update has not persuaded HSBC to reverse its decision.

Victoria, the UK flooring firm, has completed a £60.5m ($77.77m) sale of new shares to fund its takeover of Saloni, a Spanish producer of high-end tiles.