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Bank of England says it is watching mortgage price war ‘like a hawk’

LONDON (Reuters) – Regulators are watching a price war in mortgages “like a hawk” and may need to impose stricter minimum capital requirements on lenders, Bank of England Deputy Governor Sam Woods said on Friday. FILE PHOTO: A man walks Read more ›

UPDATE 1-S.Africa’s Old Mutual suspends CEO after ‘breakdown in trust’

(Adds more details) JOHANNESBURG, May 24 (Reuters) – South Africa’s No.2 insurer Old Mutual Ltd said on Friday Chief Executive Peter Moyo had been suspended following a “material breakdown in trust” between him and the board. “As a result, the Read more ›

Banks in Britain face fines over arbitrary fraud compensation – regulator

LONDON (Reuters) – Banks in Britain could face fines if they make selective and arbitrary decisions about compensating customers who have fallen victim to fraud, the Financial Conduct Authority’s head of enforcement said on Wednesday. FILE PHOTO: The Canary Wharf Read more ›

Italy central bank to spurn firms that don’t go green

FILE PHOTO: Banca D’Italia (Bank of Italy) sign is seen in downtown Rome, Italy, October 19, 2018. REUTERS/Alessandro Bianchi ROME (Reuters) – The Bank of Italy plans to adopt investment criteria which reward companies that take action on climate change, Read more ›

MPs square up to regulator over duty of care for banks

LONDON (Reuters) – A legal duty for banks to act in the best interests of their customers may be needed, British lawmakers said on Monday, piling pressure on regulators to step up protection of consumers after a string of mis-selling Read more ›

Lithuanian presidential hopefuls vow to tackle inequality

VILNIUS (Reuters) – Lithuanians started voting in a tightly contested presidential election on Sunday to replace outgoing Dalia Grybauskaite, the Baltic nation’s “Iron Lady” who was one of the European Union’s most outspoken critics of Russia. FILE PHOTO: Lithuanian presidential Read more ›

Bank of England’s Carney tells investors they are too relaxed on rates

LONDON (Reuters) – Bank of England Governor Mark Carney said on Thursday investors were underestimating how much interest rates could rise, even as the British central bank kept borrowing costs on hold due to Brexit uncertainty. Sounding more hawkish than Read more ›