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Global stocks up, formal Brexit start casts shadow over sterling

LONDON European shares rose on Wednesday, following Wall Street's late surge, while sterling was the biggest loser on major currency markets ahead of the formal triggering of Britain's exit process from the European Union later in the day.

Recent Business News

Ford warns Brexit deal must include tariff-free access to customs union

LONDON U.S. carmaker Ford said on Wednesday that Britain must secure a Brexit deal which includes full tariff-free access to the entire customs union of European countries, not just the 27 other members of the European Union.

5:57am EDT

Other Akzo shareholders also want talks with PPG: Elliott Advisors

AMSTERDAM Elliott Advisors, the activist investor with a 3.25 percent stake in Akzo Nobel , said on Wednesday other shareholders owning almost a quarter of the Dutch paints and chemicals group want it to enter into talks with spurned U.S. suitor PPG Industries .

5:45am EDT

Abu Dhabi fund loses crisis-related arbitration against Citigroup

Citigroup Inc has prevailed in the latest arbitration pursued by Abu Dhabi Investment Authority over the sovereign wealth fund's $7.5 billion investment in 2007 to shore up the then-struggling bank during the subprime mortgage meltdown.

5:54am EDT

GM rebuffs two-class share plan from Einhorn's Greenlight Capital

General Motors Co on Tuesday rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price.

Mar 28 2017

UK-based banks already knocking on Germany's door: Bundesbank

FRANKFURT Banks seeking to leave London because of Brexit are already holding talks about moving to Frankfurt but they will not be offered any special exemption from the regulations, a senior board member of Germany's central bank told Reuters.

6:31am EDT

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