Reuters UK/EU

(Reuters) -The British Treasury is discussing with insurance companies how to execute a two-stage implementation of EU-inherited Solvency II regime, the Financial Times reported on Friday, citing people familiar with the matter. The British government was in “active discussions with the Prudential Regulation Authority, which supervises the insurance sector, and insurers as to how we …

Britain’s Treasury in discussions to speed up Solvency II reforms – FT Read More »

LONDON (Reuters) -Britain’s financial regulator is investigating Barclays PLC for suspected failings in its compliance and anti-money laundering systems, the Financial Times reported on Friday. The Financial Conduct Authority (FCA) requested an independent review of Barclays’ systems last year after noting the number of anti-money laundering incidents, the newspaper reported, citing people familiar with the …

UK watchdog probes Barclays over anti-money laundering systems -FT Read More »

SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday it was not currently evaluating an offer for Britain’s Standard Chartered, the second time it has quashed reports of an imminent bid. News of the potential offer first came on Jan. 5, when FAB said it had considered …

First Abu Dhabi Bank reiterates not eyeing offer for Standard Chartered Read More »

LONDON (Reuters) – Finance minister Jeremy Hunt said on Friday the British economy was not yet clear of difficulty, reacting to data which showed zero growth in the final quarter of 2022, but that Britain had avoided entering a recession. “The fact the UK was the fastest growing economy in the G7 last year, as …

UK’s Hunt says economy is resilient after avoiding recession Read More »

By Philip Blenkinsop BRUSSELS (Reuters) – European Union leaders agreed on Friday they should allow “targeted, temporary and proportionate” support to ensure Europe’s future as a manufacturing base for green tech products and counter U.S. and Chinese competition. The European Commission has proposed loosening rules on state aid for investments in renewable energy, decarbonising industry, …

EU leaders agree targeted, temporary support for green industry Read More »

By Renju Jose SYDNEY (Reuters) – Residents in Australia’s Norfolk Island and in New Zealand braced for heavy rain and gales over the weekend from Cyclone Gabrielle, with authorities also warning of hazardous surf conditions and strong winds along Australia’s east coast. Australia’s weather bureau on Friday upgraded the tropical cyclone to a category 3 …

Cyclone Gabrielle heads toward Australia’s Norfolk Island, New Zealand Read More »

By Tommy Wilkes LONDON (Reuters) – European banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday. ShareAction said on Friday it had made the demand in …

Investors call on five European banks to end new oil and gas finance Read More »