25

Nov

ECB’s Lagarde urges governments to boost public investment

Christine Lagarde has called on European governments to boost public investment and increase harmonisation in services, banking and capital markets to rebalance the region’s economy away from exports to domestic demand. Giving her first big policy speech since replacing Mario Draghi as European Central Bank president on November 1, Ms Lagarde said Europe had a “moment of […]

25

Nov

Labour warns UK banks: trim bankers’ bonuses or we will

Bankers’ bonuses could be banned in Britain in order to tackle high levels of inequality across the country, John McDonnell has said. The shadow chancellor warned the City of London that a culture of excessive bonus payouts remained a decade on from the financial crisis and said Labour would introduce rules to curtail such awards – including[…]

25

Nov

Deutsche Bank to pay $16m to settle US ‘princelings’ case

Deutsche Bank has agreed to pay a $16m (£13m) fine to US authorities overallegations that it hired unqualified relatives of powerful Russian and Chinese government officials to win business. The Securities and Exchange Commission (SEC) alleged that Germany’s largest lender had used false books to record the hirings, which meant the relatives – known in China as[…]

23

Oct

Why China isn’t cutting lending rates like the rest of the world

BEIJING — The People’s Bank of China is choosing not to follow many other major central banks in cutting interest rates as it tries to navigate a challenging economic environment. China’s central bank must manage an economy structured in many ways quite differently from that of other major regions, such as Japan or the European Union. But[…]

23

Oct

WeWork boss to walk away with $1.7bn after SoftBank rescue deal

WeWork’s co-founder Adam Neumann is in line for a $1.7bn (£1.3bn) payout as investors seize control of the troubled office rentals empire he co-founded and thousands of employees wait to hear if they will lose their jobs. Neumann, 40, used to describe WeWork as “largest physical social network in the world” and a company so important it[…]

07

Oct

Labour warns UK banks: trim bankers’ bonuses or we will

Bankers’ bonuses could be banned in Britain in order to tackle high levels of inequality across the country, John McDonnell has said. The shadow chancellor warned the City of London that a culture of excessive bonus payouts remained a decade on from the financial crisis and said Labour would introduce rules to curtail such awards – including[…]

07

Oct

EU could fine Italy £3bn for breaking spending and borrowing rules

The EU is poised to punish Italy over its “snowballing” spending and borrowing, putting Brussels on a collision course with the populist government in Rome. In a move expected to raise tensions with Italy, the European commission paved the way for an initial fine of as much as €3.5bn (£3.1bn) on Wednesday after advising the country had[…]