By Huw Jones LONDON (Reuters) – Britain’s role as a leading financial centre is at stake unless it comes up with a roadmap for digital representations of stocks, bonds, loans and real estate, trade association UK Finance said in a report on Thursday. So-called tokenised assets can be exchanged on distributed ledger technology (DLT), also…
By Steve Gorman LOS ANGELES (Reuters) – Thousands of Los Angeles-area hotel staffers returned to work on Wednesday from a three-day strike without a contract, but union leaders threatened further walkouts to come as they push for improved wages, benefits and working conditions. Chief among their demands are pay hikes that would allow the union’s…
By Lewis Jackson SYDNEY (Reuters) -PwC Australia provided Google confidential information about the start date of a new tax law leaked from Australian government tax briefings, according to two sources familiar with the matter. This is the first time a company has been directly linked to the national scandal involving the “big four” accounting firm…
By Shariq Khan BENGALURU (Reuters) – U.S. crude oil gained about 3% on Wednesday, narrowing the price gap with global benchmark Brent in a post-holiday response to supply cuts announced on Monday by Saudi Arabia and Russia. U.S. West Texas Intermediate crude (WTI) rose $2 from Monday’s close, or 2.9%, to settle at $71.79 a…
By Sinéad Carew and Tom Wilson NEW YORK/LONDON (Reuters) – MSCI’s global equities index lost ground on Wednesday after weaker-than-expected overseas data and as investors monitored a heating up of American-Chinese trade tensions while they awaited upcoming U.S. economic data and second-quarter earnings. Investors shrugged off U.S. Federal Reserve meeting minutes released on Wednesday that…
By Naomi Rovnick and Chiara Elisei LONDON (Reuters) – A financial stream that helped fund the world’s riskiest companies and grew into a market estimated at $1.5 trillion in the low interest rate years is drying up, as aggressive rate hikes bring tougher borrowing conditions and uncertainty. The pace of issuance of so-called collateralised loan…
LONDON (Reuters) – Cyber insurance rates dropped around 10% in June compared with a year earlier, reversing recent sharp rate rises, as claims proved smaller than expected, broker Howden said in a report on Wednesday. Cyber insurance rates more than doubled in 2021 during the COVID-19 pandemic, driven by a rise in so-called ransomware attacks,…
By Foo Yun Chee BRUSSELS (Reuters) -Seven companies including Amazon, Apple, Google, Facebook-owner Meta and Microsoft say they meet the EU’s new criteria of “gatekeeper” that means they have to meet tougher rules, EU industry chief Thierry Breton said on Tuesday. Samsung and TikTok owner ByteDance also unexpectedly said they would meet the criteria, although…
By Huw Jones LONDON (Reuters) -Britain’s financial watchdog proposed a real-time record of stock and bond prices on Wednesday to help investors spot the best deals and improve the capital markets’ attraction. It is the latest in a welter of reforms, many contained in a new law approved last week, to bolster the City of…
(Reuters) – Swedish Prime Minister Ulf Kristersson said on Wednesday after meeting U.S. President Joe Biden that the two leaders agreed that the upcoming NATO summit in Vilnius was a “natural time” to finalise the Nordic country’s bid to join the alliance. “We both realize that the NATO summit in Vilnius in a week is…
