EU finance ministers set to agree measures to lower uncertainty in bank wind-downs

By Francesco Guarascio LUXEMBOURG, Jun 16 : European Union finance ministers are set to agree on Friday on rules setting the order in which bank creditors would be hit in case of wind-downs, in a bid to accelerate the build-up of banks’ capital buffers to reduce the chances of public-funded bailouts. Under new rules adopted […]

Saudi foreign assets keep falling in April amid heavy overseas borrowing

By Andrew Torchia DUBAI, May 28 : The Saudi Arabian central bank’s foreign assets fell in April as the government borrowed heavily abroad, according to official data that suggested Riyadh was bringing money into the country to refill state coffers depleted by low oil prices. Net foreign assets at the central bank shrank by $8.5 […]

Barclays to hire 100 staff in private banking push

By Lawrence White LONDON, May 22 : Barclays will hire 100 new staff in its private bank as it launches its second attempt in the last seven years to win more business from wealthy clients, a source with direct knowledge of the plans told Reuters. The hires will be a mixture of relationship managers – […]

SoftBank boss follows Trump to Saudi to launch $100 bln fund

By Makiko Yamazaki TOKYO, May 19 : Some six months after his visit to Donald Trump’s Manhattan mansion cheered investors, Masayoshi Son, Japan’s richest man, is set to follow his friend to Saudi Arabia as the new U.S. president makes his first overseas trip since taking office. Son, head of Japan’s SoftBank Group Corp, travels […]

US Treasury’s Mnuchin: ‘We do not support breaking up banks’

By Pete Schroeder WASHINGTON, May 19 : US Treasury Secretary Steven Mnuchin told lawmakers on Thursday that the Trump administration does not support separating investment and commercial banks. The administration has previously expressed support for some return of the Glass-Steagall Act, which established a firewall between investment and commercial banking. But Mnuchin was explicit before […]