This adjustment, set to take effect on May 28, contrasts with the T+2 cycle common in most other parts of the world. It will prompt industry participants to revisit their operational strategies to mitigate transaction failures and elevated trading costs. Ben Springett from Jefferies highlighted that adapting to this new cycle could necessitate higher cash…
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Lagarde sought to temper expectations of a clear-cut path for rate cuts while acknowledging positive signs in recent wage and inflation trends. During a Frankfurt conference, she explained that "our actions will need to be informed by the latest data at each meeting without committing in advance to a fixed trajectory for future rates." Supporting…
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Under this new agreement, PayPoint has committed to a "significant investment" in Lloyds' card payments division, Cardnet. This investment is expected to bolster the capabilities and reach of Lloyds Bank's card services, enhancing the suite of payment solutions available to merchants across the UK. The partnership is designed to bring many advantages to merchants, offering…
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A Robinhood spokesperson told Reuters that margin trading was temporarily halted while ongoing discussions with regulatory authorities occur. Margin trading, which provides traders with leverage to amplify their market positions, carries a high risk due to the potential for significant losses if markets turn adverse. Initially, Robinhood had a webpage for its UK audience detailing…
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This development positions Japan as the final major central bank to move away from negative rates, signalling the end of a global trend in which economies were buoyed by inexpensive capital and novel financial strategies. "We have transitioned back to a standard monetary policy that focuses on short-term interest rates, aligning with practices of other…
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About 3,300 employees of the Bank of Kyoto are being educated on the significance of interest rates, the process of determining lending rates, and the implications of rising interest rates for both the bank and its clientele through this program. The curriculum includes insights from veteran executives familiar with handling business in a positive interest…
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The acquisition of the Type 1 license came after a thorough review of Doo Financial's operational framework, financial health, corporate governance practices, and the qualifications of its team, highlighting the firm's dedication to maintaining stringent compliance with regulatory standards. Armed with this new license, Doo Financial HK Limited is now equipped to carry out a…
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The regulatory body specifically pointed out various offerings from Bybit, such as futures contracts, options, leveraged tokens, and other cryptocurrency-related services. These offerings have been promoted to Hong Kong's investors without the necessary regulatory approval, which could subject them to considerable financial jeopardy. In Hong Kong, transactions involving crypto-related products are classified as regulated activities…
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Orcel emphasised the importance of business expansion and asserted that acquiring at the right price is preferable to merely distributing excess capital to shareholders. UniCredit stands out in the European banking landscape for its robust capital distribution strategy, incorporating share buybacks and cash dividends. This approach places the bank among the continent's most generous regarding…
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Following a period of unstable trading conditions, the bank secured a financial lifeline through a £925 million ($1.18 billion) bailout in October. In response to these challenges, Metro Bank embarked on a series of austerity measures, including workforce reductions and eliminating several customer benefits, such as its seven-day-a-week banking service. The bank's efforts appear to…
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