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Illiquid assets held by Woodford’s UK fund pose hurdle to reopening

LONDON (Reuters) – Trading in Neil Woodford’s 3.7 billion pound Equity Income Fund may not be reopened swiftly after it was suspended on June 3 because of the illiquid assets it holds. Neil Woodford, founder and fund manager at Woodford Read more ›

Illiquid assets held by Woodford’s UK fund pose hurdle to reopening

LONDON (Reuters) – Trading in Neil Woodford’s 3.7 billion pound ($4.69 billion) Equity Income Fund may not be reopened swiftly after it was suspended on June 3 because of the illiquid assets it holds. Neil Woodford, founder and fund manager Read more ›

Equity funds better off sticking with blue chips – BoE

LONDON (Reuters) – Equity funds that stick to blue-chip shares cope best with calls from investors for their money back, a senior Bank of England official said on Thursday as fallout from the suspension of top UK fund Woodford continued. Read more ›

UK watchdog shakes up ‘dysfunctional’ bank overdraft market

LONDON (Reuters) – Britain’s banks and building societies will have to charge the same amount for all overdrafts from April 2020, the Financial Conduct Authority (FCA) said on Friday, in a radical change that will raise questions about the future Read more ›

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 ›

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 ›

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 ›

Britain starts search for next Bank of England governor

LONDON (Reuters) – Britain’s finance minister Philip Hammond said on Wednesday he was starting the process of finding a replacement for Mark Carney as governor of the Bank of England. FILE PHOTO: Workers emerge from Bank underground station with the Read more ›

UK regulator agrees water bill price cuts with three firms

(Reuters) – Britain’s water industry regulator said on Thursday it agreed reductions in bills of between 5 percent and 15 percent with three of the country’s main utilities in its draft approvals of their pricing and investment plans for the Read more ›

UPDATE 1-Creditors approve Avianca Brasil plan as antitrust concerns loom

(Adds creditors’ vote results) By Marcelo Rochabrun SAO PAULO, April 5 (Reuters) – Creditors led by hedge fund Elliott Management approved on Friday a restructuring plan for bankrupt airline Avianca Brasil, hours after the country’s antitrust regulator announced preemptively that Read more ›