StanChart cheers investors with $500 mln share buyback, 19% profit…

By Anshuman Daga and Lawrence White SINGAPORE/LONDON, July 29 (Reuters) — Standard Chartered’s first-half pre-tax profit rose 19% and beat market expectations, job as the emerging markets-focused lender benefitted from rising interest rates and issued an upbeat post-COVID outlook, pushing its shares 3.7% higher. The strong performance unveiled on Friday showed how some banks with…

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'FCA's new Consumer Duty will force firms to treat customers better'

The FCA’s Sheldon Mills says too many firms aren’t considering their customers’ needs when designing and selling products This week, City regulator the Financial Conduct Authority announced its new Consumer Duty — a set of rules which it says will force companies to provide a better and fairer service to customers. Sheldon Mills, executive director…

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Crypto Crackdown: SEC, Treasury Reportedly Investigate Exchanges

id=»article-body» class=»row » section=»article-body» data-component=»trackCWV»> Other than volatility, crypto has over the past decade perhaps been best known for lawlessness. Mysterious cryptocurrency founders have vanished after pocketing millions from initial coin offerings, while hackers and scammers have taken refuge in a financial Wild West enabled by the blockchain.  The US government is working to change…

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Exchange operator Cboe writes down bulk of ErisX acquisition

July 29 (Reuters) — Cboe Global Markets Inc on Friday reported second-quarter profit slightly below Wall Street expectations as compensation costs rose, and also said it took a $460 million writedown on its recent purchase of digital asset exchange ErisX. The global exchange operator’s net income, excluding one-time items, rose to $1.67 per share, in…

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'FCA's new Consumer Duty will force firms to treat customers better'

The FCA’s Sheldon Mills says too many firms aren’t considering their customers’ needs when designing and selling products This week, City regulator the Financial Conduct Authority announced its new Consumer Duty — a set of rules which it says will force companies to provide a better and fairer service to customers. Sheldon Mills, executive director…

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