The Bank of England is planning to ease capital rules for UK lenders with the stated objective of boosting lending activity and supporting financial markets during crisis periods.
Runway, an AI video company, is expanding its global presence by establishing new hubs in London, Tokyo, and Paris. The company plans to invest approximately $300 million over the coming years to support business scaling and AI research initiatives.
Lloyd’s of London and other insurers have been spared a potential €580 million payout after a court ruled that war exclusion clauses in insurance policies apply to the Nord Stream pipeline blasts, determining that the incident falls under war-related exclusions.
Citibank has been approved to join the London Bullion Market Association as a clearing member, marking the first addition to the exclusive club of clearing banks in approximately a decade. The bank joins JPMorgan, UBS, ICBC, and HSBC in controlling the world’s largest physical gold market.
Citigroup has been approved as a new clearing member of the London gold market, making it the first new member to join in approximately ten years. The bank will join an exclusive group of five clearing banks: JPMorgan, UBS, ICBC, and HSBC.
Max Kettner, chief multi-asset strategist at HSBC, has commented on a ‘melt-up’ moment in tech stocks and expects this market movement to boost momentum in hyperscaler companies. His remarks were made on Bloomberg Television’s Surveillance program.
UK budget carrier EasyJet agreed in principle to a takeover offer of more than £5 billion from US firm Castlelake. The bid was Castlelake’s fifth attempt after weeks of negotiations between the two parties.
Baillie Gifford, a UK-based asset manager, is implementing a voluntary exit scheme for its UK staff as part of a strategic refocus. The firm is redirecting its efforts toward family offices and financial advisers in the US and Asian markets, suggesting a shift in geographic and client focus away from its traditional UK base.
British asset manager Hayfin completed one of Europe’s largest fundraisings, raising over 15 billion euros for credit funds despite recent turbulence in US markets. The firm emphasized conservative fund structures in its approach.
Robinhood announced the rollout of its public blockchain mainnet following months of testing, alongside the introduction of DeFi products and plans to expand crypto trading services to UK residents.