With new development finance agency, the US matches China's ante

With new development finance agency, the US matches China's ante

On Oct. 5, President Trump signed the Better Utilization of Investments Leading to Development (BUILD) Act, establishing a new $60 billion development finance agency to invest in less developed countries. The United States International Development Finance Corporation (USDFC) will replace the Overseas Private Investment Corporation (OPIC), and in doing so will double its funding and […]

The High Cost of High Finance

The High Cost of High Finance

There is a ring of plausibility to the argument that with finance, as with luxury goods, you can have too much of a good thing. Recent research suggests that a high degree of financialization of the economy may impede growth. LONDON – As the United Kingdom’s Brexit negotiations stumble on, other European countries are using […]

Finance Ireland to enter mortgage market with Pepper purchase

Finance Ireland to enter mortgage market with Pepper purchase

Finance Ireland is getting into the Irish residential mortgage market, buying Pepper Money’s €200 million loan portfolio. The value of the deal was not disclosed. The lender, which is led by former Permanent TSB chief Billy Kane, plans to expand its mortgage offering early next year to compete with the main retail banks. The deal […]

Finance Ireland buys Pepper Money's Irish mortgage business

Finance Ireland buys Pepper Money's Irish mortgage business

Finance Ireland has accelerated its plans to enter the residential mortgage market, agreeing a deal to buy the mortgage origination business of Pepper Money in Ireland for an undisclosed sum.  Finance Ireland’s backers include the Ireland Strategic Investment Fund and it has been focused on the likes of motor finance and SME loans up to […]

Blame the bank: How finance caused today's housing crisis

Blame the bank: How finance caused today's housing crisis

Home ownership is increasingly out of the reach of younger adults in the UK. The share of those aged 25-34 who own their home fell from 55 per cent in 1997 to 35 per cent in 2017, according the Institute of Fiscal Studies. A decade of stagnant wage growth means that the gradual house price […]

France open to extending Brexit transition period: finance minister

France open to extending Brexit transition period: finance minister

PARIS (Reuters) – Finance Minister Bruno Le Maire on Thursday left the door open for France to support the European Union negotiator’s offer of a one-year extension to Britain’s post-Brexit transition period. French Economy Minister Bruno le Maire arrives at the Elysee Palace for the weekly cabinet meeting in Paris, France October 17, 2018. Francois […]

French finance minister pulls out of Saudi conference

French finance minister pulls out of Saudi conference

France’s finance minister will not attend the Future Investment Initiative conference in Saudi Arabia, following increasing pressure relating to the disappearance of journalist Jamal Khashoggi. Bruno Le Maire told the Senate on Thursday morning, “I will not go to Riyadh next week.” “For the moment there are serious facts here, the full light must be […]

French finance minister to shun Saudi conference over missing journalist

French finance minister to shun Saudi conference over missing journalist

PARIS (Reuters) – French Finance Minister Bruno Le Maire added his name to a growing list of government ministers and prominent business executives cancelling their attendance at a Saudi Arabia investment conference over the fate of a Saudi journalist. French Finance Minister Bruno Le Maire leaves following the weekly cabinet meeting at the Elysee Palace […]

Major banks target $1.5tn coverage gap with trade finance platform

Major banks target $1.5tn coverage gap with trade finance platform

Several of the world’s largest banks plan to build a digital platform that aims to grab an unaddressed $1.5tn gap in the coverage of global trade finance. ANZ, Banco Santander, BNP Paribas, Citi, Deutsche Bank, HSBC and Standard Chartered will co-operate on the project, the Trade Information Network, by the end of the year. The […]

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