‘ Germany, France usher Greece back to negotiating table ‘

#AceFinanceReport – Greece:May.22: RIGA (Reuters) – European leaders told Greece on Friday to return to the negotiating table for “intensive work” to wrap up a reform agreement before cash runs out, sidestepping Athens’ demand for a comprehensive, long-term solution to its troubles.

With his country risking default in as little as two weeks, Greek Prime Minister Alexis Tsipras flew to Riga to press German Chancellor Angela Merkel and French President Francois Hollande for a political push to break the impasse in technical-level talks with European Union and International Monetary Fund creditors.

Germany, France usher Greece back to negotiating table


Ace Worldwide News Group

LONDON: ‘ UK watchdog for first time to investigate wether firms are offering fair deal ‘

#AceFinanceReport – May.22: LONDON (Reuters) – Britain’s financial markets watchdog will for the first time investigate whether banks are offering firms a fair and transparent service for the billions they earn in fees for arranging mergers and bond and share sales.

After four years of scandal over manipulation in the currency market and of Libor interest rates, the Financial Conduct Authority’s competition review turns the spotlight on primary markets which are crucial to funding of corporate investment.

The FCA had voiced concern in February that customers may not be getting value for money from wholesale banking services – a 10 billion pound sector in Britain.

UK watchdog probes bank competition in bond, share


Ace Worldwide News Group

LONDON: ‘ Misconduct bill tops $235 billion as banks struggle to shake off past sins ‘

#AceFinanceReport – May.22: LONDON (Reuters) – Twenty of the world’s biggest banks have paid more than $235 billion (150 billion pounds) in fines and compensation in the last seven years for a litany of misdeeds that has scarred the industry and is delaying its rehabilitation.

The scale of the payouts, equivalent to the annual economy of Greece or Portugal, has hampered banks’ efforts to rebuild capital, reduced dividends for investors and cut the amount firms are able to lend.

The misconduct bill is expected to rise by tens of billions more dollars, and many politicians, regulators and industry observers said more needs to be done to deter wrongdoing.

Misconduct bill tops $235 billion as banks struggle to shake off past sins


Ace Worldwide News Group