Younger crypto investors do it for ‘thrills’, UK financial watchdog says

2/2 © Reuters. FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on motherboard in this illustration picture 2/2 By Huw Jones LONDON (Reuters) – Thrill-seeking younger people are turning to online apps to invest in high-risk crypto-assets and foreign exchange even though most are unable to absorb big losses, […]

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Fed’s Evans calls for possible revamp of U.S. financial regulation

© Reuters. FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City (Reuters) – Chicago Federal Reserve President Charles Evans on Tuesday raised the possibility that U.S. financial regulation and supervision may be due for an overhaul, given the new reality that interest […]

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China financial regulators urges Ant Group to set ‘rectification’ plan swiftly

© Reuters. FILE PHOTO: A thermal imaging camera is seen in front of a logo of Ant Group at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou BEIJING (Reuters) -China’s financial regulators urged Ant Group on Sunday to outline a concrete plan as soon as possible to meet regulatory demands and fully […]

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Brexit offers Britain chance to do financial services differently -minister

2/2 © Reuters. Canary Wharf business district in London 2/2 LONDON (Reuters) – Brexit offers Britain a chance to do things differently in financial services, finance minister Rishi Sunak said on Sunday, but it will co-operate with the European Union on an approach to the sector despite little detail on the topic in its trade […]

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EU proposes new post-Trump alliance with U.S. in face of China threat: Financial Times

© Reuters. U.S. and EU flags are pictured during the visit of Vice President Pence to the European Commission headquarters in Brussels (Reuters) – The European Union is seeking to forge a new alliance with the United States to bury the tensions of the Trump era and meet the challenges posed by China, the Financial […]

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UK should tweak financial rules to stay competitive after Brexit, says study

© Reuters. FILE PHOTO: The Canary Wharf financial district is seen from the construction site of 22 Bishopsgate in London By Huw Jones LONDON (Reuters) – Britain should tweak financial rules after full Brexit to keep London’s financial hub competitive and deepen ties with growth markets in Asia, a think tank said in a study […]

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How Ruth Bader Ginsburg’s death will move financial markets

The effect will be felt through Presidential polls 87-year-old US Supreme Court Justice Ruth Bader Ginsburg died from cancer on Friday. It was well-known she was receiving treatment for pancreatic cancer but there were no recent indications she was near death. Her death gives Trump and the Republican-controlled Senate an opportunity to replace her with […]

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Britain’s financial watchdog sets out rules for cannabis listings

© Reuters. LONDON (Reuters) – Britain’s markets watchdog opened the door to cannabis company listings on Friday by setting out how it would navigate laws to prevent pocketing proceeds from criminal use of the drug. The Financial Conduct Authority set out its “approach” to cannabis-related companies interested in a UK listing, pending public consultation on […]

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Global dividend plunge to be worst since financial crisis

© Reuters. FILE PHOTO: Passersby wearing protective face masks are reflected on a screen displaying stock prices outside a brokerage in Tokyo By Marc Jones LONDON (Reuters) – The coronavirus crisis will see the world’s biggest firms slash dividend payouts between 17%-23% this year or what could be as much $ 400 billion, a new […]

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Turkey exempts non-resident financial institutions from FX tax

© Reuters. ISTANBUL (Reuters) – Turkey has exempted non-resident financial institutions from paying a foreign currency purchase tax, the country’s Official Gazette said on Saturday. The Bank Insurance and Transaction Tax (BSMV) was raised in May to 1% from 0.2% in a move to discourage a so-called dollarization trend among Turks buying dollars and other […]

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