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...In contrast to central banks in North America and Europe, China has cut key borrowing rates over recent years....
...“Bank tellers are not having their pay cut.” Average pay for all employees at three of the brokerages, CICC, Shenwan Hongyuan and Huatai, edged higher in 2023....
...Lloyds Banking Group pushed the Telegraph newspaper group into administration last year over unpaid debts by the Barclays of about £1.1bn, leaving the UK bank to conduct a sale of the right-leaning broadsheet...
...It is something to watch for as the European reporting season for banks kicks off in earnest next week....
...The diminishing influence of banks in capital allocations explains the greater dynamism in the US economy, argued Fink, and the country’s faster recovery since the financial crisis....
...“The Bank Council and the Governing Board greatly regret Thomas Jordan’s decision,” the central bank said in a statement....
...Thomas Jordan, the long-standing chair of the Swiss National Bank, announced his resignation on Friday, bringing to an end a turbulent tenure of unorthodox policymaking....
...Helen Thomas will be back next week. Have a great week, Nathalie ThomasLex writer nathalie.thomas@ft.com...
...Thomas Timberg Bethesda, MD, US...
...During the show, Sunak was quizzed by an audience in County Durham about policies including immigration, the NHS and his views on Covid-19 vaccines....
...Have a great week, Helen ThomasHead of Lexhelen.thomas@ft.com...
...“We would never accept that with the banks, why accept it with the audit firms?” he added....
...China Construction Bank did not immediately respond to a request for comment. Additional reporting by Cheng Leng in Hong Kong...
...Cutting Edge Group (CEG), a music financier, publisher and record label based in London, has secured $500mn from a syndicate of four banks, led by US lender Fifth Third Bank and Northleaf Capital....
...The boss of independent investment bank Peel Hunt warned about a hollowing out of London, amid a dearth of listings: “If we carry along this trajectory we will end up just like the Irish market, which is...
...The Bank of England apparently approves of these so-called capital relief trades. From a Lex column last year: Some [banks] try to reduce their risk-weighted assets....
...“BNP Paribas welcomes this decision from the China regulators and remains committed to exploring opportunities for growth in the China market, where the Bank has had a long-standing presence,” the bank said...
...On Monday, the People’s Bank of China held its key medium-term lending rate at 2.5 per cent....
...But Lex looked at another concern for the country’s state-owned banks: Russia....
...Its larger customers want to keep holdings at independent banks....
...There is certainly a sense of gloom about, with almost daily bouts of uncertainty around how quickly central banks can or will cut rates, combined with a slow drip of stories about job losses, notably in...
...Email me: helen.thomas@ft.com. 1) It’s been freezing in London....
...Last week, I wrote about banks’ significant risk transfer deals....
...The US has had its latest bank panic and emergency rescue in the form of New York Community Bancorp....
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