UK

The City of London is "vanishing from the Union’s conversations", according to an MEP from the group of 12 who are scrutinising Brexit negotiations. That suggests preserving London as the financial centre of Europe will not be on the agenda for the EU side in the talks. UK ministers met City representatives this week, but what they offered was "of little use", according to sources at the meeting.

UK housing company Places for People (PfP) sped its sterling offering towards a Friday close with an impressive book this week, while the London Stock Exchange’s Order book for Retail Bonds (ORB) has signalled it is ready for more action early next year.

The UK Debt Management Office has picked a conventional Gilt with a tenor in the 40 year area for a syndication it added to its 2016-17 funding programme after November’s autumn statement.

Ensco, the London-headquartered offshore oil drilling contractor, has raised $750m with a popular convertible bond issue to finance a tender offer for high yield bonds due 2019 and 2020.

JP Morgan was hit hardest as the European Commission on Wednesday fined three banks a total of €485m for manipulating markets in a euro interest rate derivatives cartel.

All central counterparties, by their nature, are systemically important. But some are more systemic than others. Regulators should adopt a more tiered, and more technological approach to CCP recovery and resolution.

A former managing director at Deutsche Bank has joined Houlihan Lokey in newly established position leading the expansion of its European capital markets group.

Royal Bank of Scotland was looking to settle a series of litigation claims for up to £800m this week, shortly after being heavily penalised by potential misconduct fines in the Bank of England’s 2016 stress tests.

Volume figures released by major derivative exchanges for November show a marked rise over October's numbers, with some exchanges reporting record volume days in the aftermath of the US election.

The UK Debt Management Office has picked a conventional Gilt with a tenor in the 40 year area for a syndication it added to its 2016-17 funding programme after November’s autumn statement.

The Tanker FFA Brokers Association has elected a new chairman.

Shares in Laird, the UK supplier of mobile phone parts to Apple and Samsung, fell by as much as 18% on Friday morning after it announced its intention to launch a £185m rights issue to reduce its leverage after a profit warning in October.