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U.S. presidential hopeful Biden says he would not ban fracking

PITTSBURGH (Reuters) – Democratic presidential candidate Joe Biden said on Monday he would not ban hydraulic fracturing, a controversial method of drilling for crude oil and natural gas, if elected and called Republican assertions that he supports such a ban a... More »

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EU watchdog flags harder line on cross-border funds management

LONDON (Reuters) – Brexit safeguards to stop asset managers in Britain running “shell” investment funds in the European Union to retain access to its markets should be hardwired into EU law, the bloc’s securities watchdog said on Wednesday. After Britain voted... More »

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German watchdog launches Amazon investigation: report

BERLIN (Reuters) – Germany’s anti-trust authority has launched an investigation into Amazon’s relationship with third-party traders selling on its site, its head was quoted as saying on Sunday. “We are currently investigating whether and how Amazon influences ... More »

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Russia fines Google for not blocking banned content – Ifax

MOSCOW (Reuters) – A Russian court on Monday fined Google 1.5 million roubles ($20,350) after finding it guilty of failing to block content banned in Russia, the Interfax news agency reported. Source: https://www.reuters.com/article/us-russia-alphabet-lawsuit/... More »

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China ex-regulator warns on bank funding risk as NCD issues boom

SHANGHAI (Reuters) – The former head of China’s securities regulator has raised concern about banks addressing funding shortages by ramping up issues of short-term interbank debt instruments that have in the past attracted regulatory scrutiny. Xiao Gang, forme... More »

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Russia to scrap Cyprus tax deal after talks fail: finance ministry

MOSCOW (Reuters) – Russia’s finance ministry said on Monday it would scrap an agreement with Cyprus aimed at avoiding double taxation after talks to modify the deal failed, and that legal changes would make it more profitable for people to transfer money back ... More »

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UK proposes cash back breathing space for property funds

LONDON (Reuters) – Investors in property funds should wait up to 180 days before they can get their money back to avoid widespread suspensions in rocky markets, Britain’s Financial Conduct Authority proposed on Monday. UK-regulated open-ended property funds of... More »

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Under Armour executives receive Wells notice from SEC

(Reuters) – Under Armour Inc disclosed on Monday that its top executives had received a Wells notice from the U.S. Securities and Exchange Commission related to an investigation about the sportswear maker’s accounting practices. Last year, the company said it ... More »

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Malaysia considers making face masks compulsory in public

KUALA LUMPUR (Reuters) – Malaysia is considering making face masks compulsory in public following the emergence of 13 new coronavirus clusters since the government relaxed broad curbs on movement and businesses last month, Prime Minister Muhyiddin Yassin said ... More »

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Big Four told to ring fence auditing in Britain by June 2024

LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »

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EU banks to take on Visa, Mastercard with new payments system

LONDON/PARIS (Reuters) – Sixteen banks from Germany, France and three other euro zone countries on Thursday said a “truly European” payments system was expected to be up and running in 2022 to fully digitalise a region where half of all retail payments are sti... More »

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Wirecard’s former boss faces criminal complaint in Austria

VIENNA (Reuters) – An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek at a court in Vienna, accusing them of market manipulation and serious fraud. The Vie... More »

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More Britons take a bet on bitcoin

LONDON (Reuters) – The number of people in Britain buying cryptoassets like bitcoin BTC=BTSP and ether has more than doubled over the past year, but many are still unaware they have no protection against mis-selling, the Financial Conduct Authority said on Tue... More »

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Cineworld delays U.S., UK cinema reopenings to end of July

LONDON (Reuters) – Cineworld (CINE.L) on Tuesday delayed the reopening of its cinemas in the United States and Britain until the end of July, citing changes to the release schedules for some of the big summer movies. The UK-based company had previously expecte... More »

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London Stock Exchange’s Rathi to head UK financial watchdog

LONDON (Reuters) – Nikhil Rathi, head of the London Stock Exchange’s UK division, has been appointed chief executive of the Financial Conduct Authority (FCA), Britain’s finance ministry said on Monday. Rathi, a former finance ministry official, will play a key... More »

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White House adviser Kevin Hassett to leave this summer: Axios

(Reuters) – White House adviser Kevin Hassett will leave the administration of U.S. President Donald Trump this summer, Axios reported bit.ly/2Npsi61 on Monday, citing two officials. Hassett had returned as an adviser earlier this year to help the Trump admini... More »

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U.S. Federal Reserve resumes normal bank exams

WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it was resuming its normal bank examination activities, after easing back at the outset of the coronavirus pandemic. The Fed announced in March it was reducing some exam activities and focusing o... More »

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Amazon CEO Bezos willing to testify before U.S. Congress: letter

WASHINGTON (Reuters) – Amazon.com Inc (AMZN.O) Chief Executive Jeff Bezos is willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies, according to a letter from an attorney representing A... More »

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Amazon says CEO Bezos willing to testify before Congress: NYT

(Reuters) – Amazon.com Inc Chief Executive Officer Jeff Bezos is willing to testify before a House antitrust investigation into the market power of major tech companies, the New York Times reported here on Monday, citing a lawyer for Amazon who wrote to lawmak... More »

ECB contemplating dividend moratorium extension, Enria says

FRANKFURT (Reuters) – The European Central Bank is contemplating whether to extend a request to banks to hold off on dividend payments and share buybacks, and hopes to provide more clarity in July, Andrea Enria, its chief bank supervisor said on Tuesday. The E... More »

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U.S. bank regulator finalizes new community lending rule

WASHINGTON (Reuters) – A U.S. banking regulator announced on Wednesday it had finalized work on a long-running effort to change community lending standards for banks. The new rule from the Office of the Comptroller of the Currency (OCC) is an update to require... More »

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China announces new tariff waivers for some U.S. imports

BEIJING (Reuters) – China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States. China’s fi... More »

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Vodacom launches commercial 5G mobile network in South Africa

JOHANNESBURG (Reuters) – Mobile operator Vodacom Group said on Monday it had switched on Africa’s first live 5G mobile network in three cities in South Africa, with further rollouts planned in other parts of the country. Vodacom was recently assigned temporary... More »

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NMC Health to delist from London Stock Exchange

(Reuters) – Troubled hospital operator NMC Health (NMC.L) on Monday said it requested London Stock Exchange to delist its shares after they remained suspended for two months. The UAE-based company was placed into administration earlier this month, on the appli... More »

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China eases restrictions on exports of some coronavirus equipment

(This April 26 story has been refiled to correct spelling of commerce ministry official’s first name in paragraph four) BEIJING (Reuters) – China is dropping a requirement that a number of key virus care products get domestic regulatory approval before export,... More »

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China seeks fast-track travel arrangements with some countries

BEIJING (Reuters) – China is in talks with some countries to establish fast-track procedures to allow travel by business and technical personnel to ensure the smooth operation of global supply chains, the foreign ministry said on Tuesday. Foreign ministry spok... More »

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FCC approves Ligado plan to deploy mobile broadband network

WASHINGTON (Reuters) – The five-member Federal Communications Commission voted unanimously to approve an order to allow Ligado Networks[MOSAV.UL] to deploy a low-power nationwide 5G network despite objections from the U.S. Defense Department, other federal age... More »

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China says there is no discrimination against ‘African brothers’

BEIJING (Reuters) – China said on Monday there was no discrimination against “African brothers” in the country and rejected U.S. accusations of mistreatment of Africans in Guangzhou as an attempt to harm Beijing’s relations with African nations. Foreign minist... More »

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UK car sector slashes 2020 sales forecast by 23% due to coronavirus

LONDON (Reuters) – A group representing Britain’s car industry cut its sales forecast for this year by 23% to 1.73 million vehicles because of the impact of the coronavirus crisis. The figure represented a 25% fall from the number of new car registrations in 2... More »

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European insurer shares fall as row breaks out over dividends

MUNICH/LONDON (Reuters) – Shares in Europe’s insurers fell sharply on Friday after the EU regulator said they should temporarily halt payouts to shareholders during the coronavirus epidemic, although Germany backed Allianz’s decision to go ahead with a dividen... More »

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U.S. SEC delays ruling on controversial NYSE high-speed data plan

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said it needs more time to decide whether to allow a plan by the New York Stock Exchange to offer a new high-speed wireless connection to the exchange that some brokers have blasted as anti-compe... More »

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Short-selling bans achieve nothing useful: exchanges body

LONDON (Reuters) – Banning short-selling of shares gives the impression of responding decisively to events without achieving any useful result, the World Federation of Exchanges (WFE) said on Monday. In an unusually blunt statement, the global umbrella group f... More »

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ECB tells euro zone banks to skip payouts as virus hits economy

LONDON/FRANKFURT (Reuters) – The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic. With large p... More »

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White House not considering three-month tariff deferral: Navarro

(Reuters) – The White House’s top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic shutdown caused by the coronavirus pandemic. Industry g... More »

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Bank of England cancels stress test of banks over coronavirus

LONDON (Reuters) – The Bank of England canceled this year’s stress test of major banks on Friday and said it may be hard to implement new global capital rules on time given the focus now on supporting lending to customers hit by the coronavirus epidemic. The d... More »

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Google exploring using location info to slow coronavirus spread

WASHINGTON (Reuters) – Alphabet Inc’s Google is exploring ways to use location information to slow the spread of the coronavirus by, for example, determining the effectiveness of social distancing. U.S. Senator Ed Markey, who has long championed consumer priva... More »

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Trump says he will enter Saudi-Russia oil fray at appropriate time

WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for U.S. consumers even as they were hurting the indust... More »

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Georgia bans all foreigners from entering country over coronavirus

TBILISI (Reuters) – Georgia on Monday banned all foreigners from entering the country over coronavirus concerns the prime minister’s spokesman, Irakli Chikovani, told a briefing. Georgia has reported 33 confirmed cases of coronavirus. Source: https://www.reute... More »

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ECB ready for further action if needed: Holzmann

VIENNA (Reuters) – If the European Central Bank sees the need for further stimulus in the area of government bonds to help countries tackle the coronavirus impact, it is ready to do so, European Central Bank policymaker Robert Holzmann said on Monday. “If ther... More »

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China repeats call for dialogue after North Korea missile launch

BEIJING (Reuters) – China on Monday reiterated a call for dialogue in response to North Korea’s latest missile launch and said all sides involved in efforts to rid the Korean Peninsula of nuclear weapons should reconcile conflicts through discussion. Foreign m... More »

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UK employers urge Johnson not to sacrifice services in EU deal

LONDON (Reuters) – Britain must not exclude its huge services industry from a planned trade deal with the European Union as the price for reclaiming control over its economy, a group representing British employers said on Monday. The Confederation of British I... More »

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Euro zone to cautiously pave the way for more fiscal stimulus

BRUSSELS (Reuters) – Euro zone finance ministers are set to discuss on Monday a document that calls for a more growth-friendly fiscal policy, a move that could lead to Germany’s spending more amid fears of a downturn. The 19-country euro zone has for years stu... More »

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CPPCC studying possibility of postponing annual meeting: state media

BEIJING (Reuters) – The Chinese People’s Political Consultative Conference (CPPCC), China’s top political consultative body, is studying whether to postpone its annual meeting, state-run CCTV reported on Monday. The possible postponement of the meeting, which ... More »

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Timeline: NMC Health’s expansion and ailments

(Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as joint non-executive chairman, months after the UAE healthcare group was thrown into turmoil by doubts over its finances. NMC is the largest private healthcare company in the Un... More »

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China parliament may delay key annual March session: Xinhua

BEIJING (Reuters) – The Chinese parliament’s top committee will meet on Feb. 24 to discuss whether to delay the annual March meeting of the full parliament, the official Xinhua news agency reported on Monday, amid the country’s coronavirus outbreak. The standi... More »

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Thailand raises $3.2 billion at 5G license auctions

BANGKOK (Reuters) – Thailand’s telecoms regulator raised 100.52 billion baht ($3.2 billion) in 5G spectrum auctions on Sunday, with operators snapping up 48 licenses ahead of an expected commercial rollout later this year. Thailand’s top mobile operator, Advan... More »

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Novacyt biotech company says winning race for high-speed virus test

PARIS (Reuters) – Franco-British biotech company Novacyt says it can offer a coronavirus test that is faster than rival methods by focusing on a narrow sequence of DNA coding, as it fights stiff competition to turn the outbreak into a business opportunity. In ... More »