|Bid||0.00 x 1000000|
|Ask||0.00 x 1000000|
|Day's range||138.75 - 138.75|
|52-week range||100.00 - 170.00|
|Beta (3Y monthly)||-1.00|
|PE ratio (TTM)||N/A|
|Earnings date||4 Jul 2019 - 8 Jul 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.30|
The European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown on money laundering after several scandals at EU banks, but it has been criticised by several EU countries, including Britain, that are worried about their economic relations with the listed states, notably Saudi Arabia.
Britain's Labour party would halt the privatisation of Royal Bank of Scotland (RBS) if it came to power but would not seek to exert day-to-day control, the opposition party's shadow banking minister told Reuters. RBS remains 62 percent owned by British taxpayers after a 45 billion pound ($58.3 billion) bailout in the 2008 financial crisis, although the Conservative government has conducted two share sales as it looks to return it to private ownership.
Britain's opposition Labour party would halt privatisation of state-rescued Royal Bank of Scotland (RBS) if it came to power but refrain from day-to-day meddling, the party's shadow banking minister told Reuters. RBS remains 62 percent owned by British taxpayers after a 45 billion pound ($58.3 billion) bailout in the 2008 financial crisis, though the Conservative government has conducted two share sales as it looks to return the bank to private ownership.
A few miles down the River Thames from the British parliament at Westminster, months of political tremors over Brexit have still barely registered on a monitor of London's financial services. Reuters' fourth Brexit tracker of five indicators gauging the City of London (LSE: CIN.L - news) 's fortunes -- spanning jobs, commercial property prices, bar and restaurant openings and public transport usage -- shows that while some have seen a slight slowdown, others are steady or even buoyant. One area in rude health is City office lettings, data from property agent Savills (Stuttgart: 1YZ.SG - news) shows.
Britain would have "fully functional" rules to remain a top global financial centre even if it left the European Union without a Brexit deal, its lawmakers said on Tuesday. Lawmakers vote on Tuesday in a bid to end a deadlock over Britain's divorce settlement with the EU and prevent it leaving with no deal on March 29. EU financial rules are being embedded into British law, but changes are needed to make them work properly as Britain falls outside the purview of EU regulators.
British lawmakers launched an inquiry on Friday to plot the best way forward for finance after Brexit as Goldman Sachs (NYSE: GS-PB - news) warned it could cut jobs if the United (Shenzhen: 000925.SZ - news) Kingdom crashes out of the bloc without an agreement in two months' time. The inquiry will determine if the country should track European Union rules or cut loose to best serve its financial sector after Brexit.
British lawmakers launched an inquiry on Friday to determine if the country should track European Union rules or cut loose to best serve its financial sector after Brexit. Finance is Britain's biggest tax raising sector, earning government coffers more than 70 billion pounds ($91 billion) each year, and the EU is the sector's largest single customer. "London is the world's premier financial centre, and many of us want to keep it that way," Treasury Select Committee chair Nicky Morgan said in a statement.
Santander UK is to shut 140 branches placing 1,270 jobs at risk - the latest bank to blame changing consumer habits for a wave of closures. The lender said its decision was the result of more customers ...
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. "Time (Frankfurt: A11312 - news) is running out to avoid a chaotic ‘no-deal’ Brexit that would be catastrophic for the UK economy," said Stephen Jones, chief executive of UK Finance, a banking industry body. The settlement included a transition period to December 2020 which European banking body AFME said on Tuesday was vital to ensure an orderly exit from the bloc.
Big British banks have been criticised by lawmakers for pressing ahead with plans for a new complaints service for small firms wronged by lenders, which they argue is too soft. UK Finance, a City of London (LSE: CIN.L - news) trade body, is setting up and funding the new service which be capable of resolving disputes and paying awards of up to 600,000 pounds ($765,600). The banks’ proposal has won the backing of the British government, according to correspondence between Britain's finance ministry and lawmakers published on Friday.
LONDON, Dec (Shanghai: 600875.SS - news) 24 (Reuters) - Fresh meat was selling like hot cakes at Smithfield Market's Christmas Eve public auction on Monday, with auctioneers running up and down makeshift catwalks and handing over turkeys and huge cuts of beef and pork in return for 20-pound notes. More recently it has morphed into a popular annual event, with members of the public snapping up premium cuts of meat that would otherwise be bought by the city's top hotels and restaurants. "This is a jewel in the City of London (LSE: CIN.L - news) , it doesn't happen anywhere else in the UK now, and we hope to carry it on in the foreseeable future," said Smithfield Market Tenants' Association chairman Greg Lawrence, who has worked at the market since he was 16 years old.
The Bank of England has welcomed a "crucial and positive" move by the EU to help keep a key part of the financial system functioning in the event of a "no-deal" Brexit. EU officials said they were taking action so that European firms could continue clearing derivatives transactions at UK operators such as LCH for a year from the UK's departure. The rules relate to trillions of pounds worth of contracts, such as interest rate swaps, that underpin the financial system.
LONDON, Dec (Shanghai: 600875.SS - news) 19 (Reuters) - Most banking, insurance and other financial firms in Britain would be cut off from the European Union if there is a no-deal Brexit, the bloc's executive body said on Wednesday. Financial services are Britain's most important tax-earning sector, with the EU its biggest customer. The European Commission set out its contingency plans in the event of Britain crashing out of the bloc next March without securing a divorce settlement and transition period.
The banking sector has demanded a "rethink" of tax policies, saying it is "important to consider the UK's competitiveness" as the government steps up its preparations for a possible no-deal Brexit. UK Finance, which represents major lenders, issued the broadside alongside figures to help make its case, which suggested the sector currently pays £1 in every £8 of corporation tax in the UK. UK Finance said the industry's contribution to the public finances was £5.4bn up since 2014, with banks now paying the equivalent of 50.4% of their total profits in taxes.
LONDON, Dec (Shanghai: 600875.SS - news) 19 (Reuters) - Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday. Banks in London have already begun to make plans to move staff abroad ahead of Brexit, which will make it more difficult for them to do business in the European Union from Britain. UK Finance, which represents the country’s finance sector, has published research showing a typical bank in London has a higher tax burden than in rival international financial centres.
UK officials have been warning EU27 nations that a "no-deal" Brexit places a high risk of financial disruption to their banks, Sky News understands. Dozens of banks, including some of Europe's biggest in Germany and France, have complex outstanding financial contracts, known as derivatives, notionally worth tens of trillions of pounds, operated through the City of London (LSE: CIN.L - news) . Sky (Frankfurt: 893517 - news) sources say that the names of specific EU mega-banks especially exposed to and reliant on UK cleared derivatives have been mentioned in discussions.
LONDON, Dec (Shanghai: 600875.SS - news) 4 (Reuters) - Financial services firms in Britain paid a record 75 billion pounds ($95.5 billion) in taxes in the last financial year, but City bosses warned a chaotic Brexit could blow a hole in the industry's tax receipts in future years. The total tax haul in the year to the end of March was up 4 percent on the previous year's 72.1 billion pounds, according to research from consultancy PwC and the City of London (LSE: CIN.L - news) Corporation, the local government for the capital's financial district.
If Britain faced a no-deal Brexit it would have to rely on the support of the European Central Bank to keep the country's financial system afloat, Sky News has learned. According to multiple insiders, the Bank of England would have to activate crisis-era swap lines from other major central banks to ensure the City of London (LSE: CIN.L - news) can keep trading international currencies. Swap lines are the little-known quasi-bailout scheme that kept key financial systems functioning during the financial crisis.
After towers called the Gherkin, the Cheese Grater and the Walkie Talkie, plans have been unveiled for a new 1,000ft skyscraper in London dubbed the Tulip. If it gets the go-ahead, the building will be the tallest in the City of London (LSE: CIN.L - news) and feature eight floors of attractions including a bar, restaurants and a "classroom in the sky". There will also be viewing galleries featuring sky bridges and internal glass slides.
A senior executive at one of the world's largest financial data businesses has been picked to spearhead the City's interests in Brussels amid protracted uncertainty about the future of Europe's biggest financial centre. Sky News has learnt that Nick Collier, global head of government relations at Refinitiv - until recently part of Thomson Reuters (Dusseldorf: TOC.DU - news) - is to become the City of London Corporation's Brussels-based managing director. Mr Collier is expected to take up the role in the new year, less than three months before the UK's exit from the EU threatens to undermine London's status as the dominant hub for the continent's wholesale financial services sector.
Britain and the European Union have agreed a deal that will give London's financial centre the same basic level of access to the bloc's markets after Brexit that is already offered to countries including the United (Shenzhen: 000925.SZ - news) States, Japan and Singapore. WHAT IS EQUIVALENCE? The deal is based around the EU's existing system of financial market access known as equivalence.
Business will be one of the key allies Theresa May seeks to enlist as she seeks to build support for the draft Brexit deal she has negotiated with the EU. Put very crudely, big businesses and multinationals supported the Remain cause during the referendum, while most support for Brexit in the world of commerce came largely from the ranks of smaller business and privately and family-owned firms. Many businesses, particularly in the manufacturing sector, have been vocal since the referendum about the need for any Brexit deal to keep trade as frictionless as possible.
British education publisher Pearson (Xetra: 858266 - news) is selling its property at One Southwark Bridge in London, the current home of the Financial Times newspaper, to M&G Real Estate for 115 million pounds ($149 million), it said on Wednesday. Pearson and M&G (Shanghai: 603899.SS - news) have exchanged contracts with a target of completing the deal by the end of 2018. The terms of the deal will not impact the Financial Times' current lease obligations, with the newspaper returning to its former headquarters at Bracken House in the City of London (LSE: CIN.L - news) in mid-2019.
The United Kingdom is confident that it is on the verge of reaching an agreement with the European Union to give London's vast financial centre access to EU markets after Brexit, Britain's financial services minister John Glen said on Monday. Home to the world’s highest number of banks and largest commercial insurance market, the City of London (LSE: CIN.L - news) and its sister district in Canary Wharf are scrambling to prepare for Britain’s departure from the European Union, the biggest challenge the UK financial sector has faced since the 2007-2009 financial crisis.
LONDON, Oct (Shenzhen: 000069.SZ - news) 25 (Reuters) - Banks in Britain must hold enough cash to withstand any disorderly Brexit hitting financial markets next March, Bank of England Deputy Governor Sam Woods said on Thursday. Woods said he was making sure that Britain's departure from the European Union is as smooth as possible for markets, even if there is no exit deal between London and Brussels. "Just in case things go badly we have been working with firms to ensure they have in place liquidity sufficient to accommodate a severe dislocation in financial markets," Woods told an audience of bankers.