Category: Business

The Swiss National Bank and the Bank of France will trial Europe’s first cross-border central bank digital currency payments, the banks said on Thursday, a move that will be a first for two of the world’s top currencies. The experiment will focus on the bank-to-bank ‘wholesale’ lending market rather than everyday public transactions but will […]

Banks must set aside enough capital to cover losses on any bitcoin holdings in full, global regulators proposed on Thursday, in a “conservative” step that could prevent widescale use of the cryptocurrency by big lenders. The Basel Committee on Banking Supervision, made up of regulators from the world’s leading financial centres, proposed a twin approach […]

General Electric Co said on Thursday it would freeze pension benefits for about 2,700 employees in the United Kingdom from January and take a related charge. GE’s pension benefit obligation in the U.K. was about $14 billion at the end of 2020. The company’s pension plan has been closed to new entrants in the UK […]

The European Central Bank said on Thursday it would continue to run its emergency bond purchases at a higher pace than at the beginning of the year, fearing that any retreat could sharply raise borrowing costs and smother a long delayed recovery. Just emerging from a pandemic-induced double-dip recession, the euro zone economy has relied […]

These high costs may persist for a sustained period as nearly all agricultural commodities have become more expensive, while a rally in energy markets could raise farmers’ production costs, the Food and Agriculture Organization said. “The problem is not the world facing higher prices,” Josef Schmidhuber, deputy director of the FAO’s trade and markets division, […]

Most airliners will rely on traditional jet engines until at least 2050, Airbus told European Union officials in a briefing released on Thursday on its research into creating zero-emissions hydrogen fuelled planes. The planemaker says it plans to develop the world’s first zero-emission commercial aircraft by 2035, but has not publicly said whether the technology […]

British online trading group CMC Markets on Thursday set out plans to launch a wealth management platform, going head to head with existing players such as Hargreaves and AJ Bell , after reporting a doubling in annual profits. Peter Cruddas, Chief Executive of the London-listed company, told Reuters he expects the new platform to be […]