London Court Revives $35 Billion Forex Lawsuit Against Banks
In a significant legal development, a London court has revived a $35 billion lawsuit against major banks accused of manipulating the foreign exchange (forex) market. The decision comes as a major blow to the banking industry and could have far-reaching implications for the implicated financial institutions. The court’s ruling reflects a renewed effort to hold […]
London should remain top financial centre
Lloyds Bank‘s annual sentiment survey of financial firms showed that, despite uncertainty over regulation due to Brexit, London will remain a leading global financial centre. Britain fully left the European Union, with thousands of jobs and billions of euros in daily trading moving from London to the continent. On the other hand, the survey of more […]
EU can take months on euro clearing
The European Union will take months for deciding if banks can continue clearing derivatives in London. The EU’s financial services chief said that in a sign of how Brussels is keeping up pressure to shift business to Frankfurt. A European Commission working group looked at how trillions of euros in interest rate swaps could be shifted from London […]