France plans to double in December the amount of capital reserves banks have to keep on hand for a downturn in the economic cycle, the financial stability council said on Thursday.
The Bank of England (BOE) never supported a cap on bankers' bonuses and thinks there are more effective ways to ensure banks account properly for risks, a spokesperson for the central bank said on Thursday.
Barclays said investors have submitted claims for $7 billion out of $17.7 billion worth of securities it sold in error, under the terms of a so-called rescission offer by which the bank had to buy back the notes and compensate buyers.
The U.S. Consumer Financial Protection Bureau (CFPB) plans to start regulating "buy-now, pay-later" (BNPL) companies like Klarna and Affirm Holdings due to worries their fast-growing financing products are harming consumers, the agency said on Thursday.
U.S. hedge funds that focus broadly on technology investments are bracing for heavy losses this year as gloomier economic data sparked a fresh selloff this week, shrinking hopes of clawing back any significant ground in coming months.
The Spanish government is open to modifying its proposed bill on a windfall tax on banks and large energy companies to ensure that it does not hurt the country's financial stability and is in line with European proposals, ministers said on Thursday.
British finance minister Kwasi Kwarteng is considering scrapping caps on bankers' bonuses to boost London's post-Brexit competitiveness against financial capitals like New York and Hong Kong, a source familiar with Kwarteng's thinking said.
Brazil's Economy Ministry is studying a target for the country's substantial foreign exchange reserves, two sources told Reuters, as inflation remains the top concern of voters ahead of a presidential election.
Wall Street banks look set to report better efficiency ratios in the second half of the year, a key metric that deteriorated as global economic gloom sapped income from traditional profit centers and costs surged amid a battle for talent, analysts say.
