Hints and tips:
...Virgin Money has struggled over the past 12 months and last year increased its provision for bad loans....
...Ireland did win the Grand Slam on Saturday but Kelleher was limited to enjoying a single pint of Guinness at the James Joyce pub in Zurich....
...“The world will have to relearn banking,” UBS chief executive Ralph Hamers told the Financial Times....
...“It’s too fragmented and [investors] have bandwidth which is limited,” he added....
...The consensus-beating results are the last for Mr Ermotti, who is to step down as head of the bank on November 1, to be replaced by former ING boss Ralph Hamers....
...In 2017, Prudential took a £400m provision to cover the same problem. It expects most of the provision to be used in 2019....
...But EU diplomats said such a legally binding solution would not be possible on Brexit given the limited time available before Thursday’s summit....
...The IFC has sought to alleviate risks to insurers by promising to absorb a limited amount of the losses that co-investors may encounter....
...With oil exploration companies forced by shareholders to prioritise “value over volume”, the new-build cycle upturn had been pushed back to 2019 and Weir’s pricing power would probably remain limited due...
...“This looks likely to be limited, certainly in the first instance,” he said, adding: “Expect short-term weakness.” Meanwhile, the US tax changes could trigger more shareholder unrest at Credit Suisse....
...“Visibility is still limited and our outlook remains prudently cautious,” Mr Ermotti said....
...Additional reporting by Ralph Atkins...
...Additional reporting by Oliver Ralph, Madison Marriage and Alex Barker...
...Some original features, particularly the provision for the anonymity of investors, have gone. But cross-border issuance of corporate bonds has become ubiquitous....
...A sovereign bond-buying programme launched by Jean-Claude Trichet, his predecessor, would be strictly limited....
...Since May last year, the ECB has been buying eurozone government bonds – a move opposed by the Bundesbank – but sees its role as limited and aimed only at ensuring functioning markets....
...oliver.ralph@ft.com...
...Unlimited liquidity provision replaced pre-crisis auctions in which banks bid for limited ECB funds. As a result, the ECB lost control over short- term market interest rates....
...The ECB’s role was deliberately limited, unlike those of “activist” central banks such as those of the US and UK, Prof Wyplosz argues....
...eurozone debt crisis, reports Ralph Atkins, our Frankfurt bureau chief....
...In 2009, the level of provisions made by the ECB to cover foreign exchange, interest rate and credit risks exceeded €4bn....
...Ralph writes that with “the threat of a eurozone banking crisis rising, a precautionary extension of unlimited liquidity provision seems inevitable“. 9.20: The main news event of today takes place in Frankfurt...
...” … Given his insistence that the initiative lies with governments, it is little surprise that Mr Draghi sees only a limited role for the ECB....
...The programme should be “tightly limited”, Mr Weber added in a speech in Mainz. The ECB said eurozone banks were expected to suffer writedowns totalling €515bn in the period from 2007 to 2010....
...Reports this morning that the 15-page document contained no legislative timetable for a long list of provisions sparked a chorus of concerns at the EU and prompted Mario Draghi, outgoing governor of the...
International Edition