Edition:
United States

Huw Jones

Bank of England sees UK current account risk from Brexit

11:05am EST

LONDON The Bank of England warned on Wednesday that Britain's large current account deficit remained a big risk ahead of Brexit, and that a jump in sterling after parliament crushed Prime Minister Theresa May's Brexit plan should not give too much comfort.

Leveraged loans echo pre-crisis subprime crash - BoE's Carney

11:05am EST

LONDON Bank of England Governor Mark Carney on Wednesday likened the $2 trillion (£1.55 trillion) leveraged loan market to subprime mortgages that defaulted 10 years ago and triggered a global financial crisis, in a warning to MPs.

Leveraged loans echo pre-crisis subprime crash: BoE's Carney

8:43am EST

LONDON Bank of England Governor Mark Carney on Wednesday likened the $2 trillion leveraged loan market to subprime mortgages that defaulted 10 years ago and triggered a global financial crisis, in a warning to British lawmakers.

RPT-City unites in call for urgent Brexit transition deal

3:35am EST

LONDON, Jan 15 Britain must urgently come up with a new plan to avoid leaving the European Union without a deal in just over 70 days' time and destabilise markets, finance leaders said on Tuesday.

City unites in call for urgent Brexit transition deal

2:11am EST

LONDON Britain must urgently come up with a new plan to avoid leaving the European Union without a deal in just over 70 days' time and destabilise markets, finance leaders said on Tuesday.

City unites in call for urgent Brexit transition deal

Jan 15 2019

LONDON Britain must urgently come up with a new plan to avoid leaving the European Union without a deal in just over 70 days' time and destabilize markets, finance leaders said on Tuesday.

UK watchdog says has downgraded probe into Credit Suisse over Mozambique loans

Jan 15 2019

LONDON Britain's financial watchdog has dropped a criminal probe into Credit Suisse related to an alleged fraud in Mozambique, but is still checking the bank and individuals for any breaches of conduct rules, the watchdog said on Tuesday.

UK watchdog says has downgraded probe into Credit Suisse over Mozambique loans

Jan 15 2019

LONDON, Jan 15 Britain's financial watchdog has dropped a criminal probe into Credit Suisse related to an alleged fraud in Mozambique, but is still checking the bank and individuals for any breaches of conduct rules, the watchdog said on Tuesday.

Basel eases capital hit from new trading book rules for banks

Jan 14 2019

LONDON Revisions to global rules for bank trading books will result in a halving of the extra capital needed from January 2022 to cover risks from market price swings, the Basel Committee said on Monday.

Brexit takes toll on Britain's financial sector, outlook weak

Jan 13 2019

LONDON Uncertainty over Brexit and the economy have led demand for Britain's financial services to shrink for the first time in five years, with no immediate sign of an improvement, a survey by business group CBI and PwC showed.

World News

Search on for Brexit consensus after May's crushing defeat

Prime Minister Theresa May was trying to forge consensus in parliament on a Brexit divorce agreement on Wednesday after the crushing defeat of her own deal left Britain's exit from the European Union in disarray 10 weeks before it is due to leave.