16 March

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NatWest faces criminal action over money laundering offences By Reuters

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LONDON (Reuters) - Britain's financial regulator said on Tuesday it had launched criminal action against a unit of NatWest over money laundering offences. The Financial Conduct Authority said in a statement that National Westminster Bank Plc's systems and controls failed to adequately monitor and scrutinise activity over an account held by a UK customer between October 2011 and 2016. The...

16 March

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Softer pound, positive earnings lift FTSE 100 By Reuters

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(Reuters) - London's FTSE 100 inched higher on Tuesday, as a weaker pound boosted shares of exporters and a set of positive earnings updates helped lift confidence in the economy's recovery. The blue-chip FTSE 100 index rose 0.4%, with healthcare, financials and consumer staples stocks among the top boost. A softer pound lifted shares of large, dollar-earning companies such as AstraZeneca (NASDAQ:AZN)...

16 March

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UK’s GDP to fall 4% in first quarter: Bank of England head to paper By Reuters

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MILAN (Reuters) - Economic growth in the United Kingdom will fall by 4% in the first quarter from the same period last year and by 19% compared to the first three months of 2019, the governor of the Bank of England said on Tuesday. In an interview with Italian daily Il Sole 24 Ore Andrew Bailey said the bank would continue buying...

16 March

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Exclusive: Global investors value China’s Ant Group at over $200 billion – sources By Reuters

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By Julie Zhu and Kane Wu HONG KONG (Reuters) - Some of Ant Group's global investors have valued the Chinese fintech firm at over $200 billion based on its 2020 performance, said people with knowledge of the matter, offering a more sober estimate after the shelving of its IPO and forced restructuring. The number is at least a third above Ant's valuation...

16 March

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UK’s Greggs reports first ever annual loss after COVID sales slump By Reuters

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LONDON (Reuters) - British baker and fast food retailer Greggs reported its first annual loss since listing on the stock exchange in 1984 after the COVID-19 pandemic hammered shopper numbers. Greggs, best known for its sausage rolls, steak bakes and vegan snacks, said on Tuesday it made a year to Jan. 2 pretax loss of 13.7 million pounds ($19 million), having...

16 March

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Credit Suisse recovers portion of Greensill loan, sees possible charge By Reuters

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ZURICH (Reuters) - Credit Suisse (SIX:CSGN) said on Tuesday it had recovered some $50 million from a $140 million bridge loan it made to Greensill Capital last year, and would be announcing further cash distributions from its liquidated supply chain finance funds over coming months. The lender has been facing the...

16 March

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Volkswagen targets operating margin of 7%-8% By Reuters

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FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p) targets an operating margin of 7%-8% in the years after 2021, it said on Tuesday, adding 2 billion euros ($2.39 billion) in fixed cost cuts would help achieve it. ...

16 March

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RBA Says Economy Recovering Firmly, Watching Fiscal Tapering By Bloomberg

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(Bloomberg) -- The Reserve Bank of Australia said the nation’s economy is recovering strongly and it’s watching for the impact of the looming withdrawal of some government programs, according to minutes if its March meeting. “An important near-term issue was how households and businesses would adjust to the tapering of some fiscal support measures,”...

16 March

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Encrypted messaging app Signal stops working in China By Reuters

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SHENZHEN, China (Reuters) - Encrypted messaging app Signal appeared to no longer be working in China without the use of a virtual private network (VPN) on Tuesday morning, users in the country said. China's cyber authorities have become increasingly strict in recent years, widening the scope of apps, media outlets and social media sites banned in the country. Signal's website was...

16 March

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China Mobile Considers A-Share Listing After U.S. Removal By Bloomberg

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(Bloomberg) -- China Mobile (NYSE:CHL) Ltd. is considering an A-share listing after the country’s largest wireless carrier was removed from the New York Stock Exchange under a Donald Trump-era investment ban, according to people familiar with the matter. The state-owned firm has discussed the potential offering with advisers as it looks for new avenues...

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News

NatWest faces criminal action over money laundering offences By Reuters

Softer pound, positive earnings lift FTSE 100 By Reuters

UK’s GDP to fall 4% in first quarter: Bank of England head to paper By Reuters

Exclusive: Global investors value China’s Ant Group at over $200 billion – sources By Reuters

UK’s Greggs reports first ever annual loss after COVID sales slump By Reuters

Credit Suisse recovers portion of Greensill loan, sees possible charge By Reuters

Volkswagen targets operating margin of 7%-8% By Reuters

RBA Says Economy Recovering Firmly, Watching Fiscal Tapering By Bloomberg

Encrypted messaging app Signal stops working in China By Reuters

China Mobile Considers A-Share Listing After U.S. Removal By Bloomberg

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