Finance

TRAI gets record public submissions for net neutrality rules

A picture illustration shows a Facebook logo reflected in a person’s eye, in Zenica, March 13, 2015. REUTERS/DADO RUVIC/FILES The Telecom Regulatory Authority of India (TRAI) said it had received record submissions on a consultation paper for framing differential pricing rules that will decide the fate of Facebook Inc’s (FB.O) free Internet in India. The telecommunications regulator said it will ... Read More »

New year, same old story as FCA lets bankers off hook by dropping review

The Financial Conduct Authority building in Canary Wharf, London. The scrapping of the investigation even left some Conservative MPs disappointed. Photograph: David Levene for the Guardian Thursday 31 December 2015 12.35 GMTLast modified on Thursday 31 December 201512.51 GMT The last serious scandal to squeeze into the news in 2015 doesn’t turn out to be Lynton “dog whistle” Crosby’s knighthood or other ... Read More »

Stocks slip, close year mixed; oil ends ugly 2015 with slight gain

The trading floor of Frankfurt’s stock exchange is pictured after the last trading day in Frankfurt, Germany December 30, 2015. REUTERS/RALPH ORLOWSKI Stock and bond markets in major economies closed 2015 with a mixed performance, while oil prices and emerging markets cemented big losses during a year that provided few safe places for investors. While equity markets in Japan and ... Read More »

Almost 900 UK bankers paid €1m plus by US banks in 2014

Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch and JP Morgan disclose payments to comply with EU rules The Bank of America Merrill Lynch building in Canary Wharf, London. Photograph: Mo Peerbacus/Alamy More than 800 bankers in the UK were paid at least €1m (£736,000) by four major US investment banks in 2014. The regulatory disclosures by four US ... Read More »

India to tighten rules for credit cooperatives to protect investors – official

A man walks past Sahara India Complex building in Noida on the outskirts of New Delhi February 25, 2015. REUTERS/ADNAN ABIDI/FILES India will crack down on errant financial firms that raise funds, mainly from millions of rural poor customers, through loosely regulated credit cooperative societies, a senior official in the agriculture ministry said. This follows a Reuters investigation that revealed ... Read More »

Markets Yearahead – Spotlight to be on India in 2016

As 2015 draws to a close, markets in India are heading towards their worst annual returns in four years. The year saw domestic investors take centrestage, ending a nearly two-decade dependence on foreign portfolio investors for market direction. A 6 percent fall in the Nifty index so far this year proves the markets had run ahead of themselves with returns ... Read More »

Banking culture review: Treasury defends FCA decision to scrap study

Government denies it was involved in a move that MPs say will be seen as a softening of stance towards bankers George Osborne should order the FCA to relaunch its inquiry into banking culture, says shadow chancellor. Photograph: Stefan Rousseau/PA The Treasury has defended the City regulator’s decision to ditch a review into banking culture as the chancellor came under ... Read More »

Investors look to January effect at start of 2016

Wall Street is written on a building in New York’s financial district, March 4, 2013. REUTERS/BRENDAN MCDERMID As Wall Street wraps up its flattest year since 2011, investors will have to deal with many of the same issues next year as they attempt to gauge market direction. While many market participants have a host of worries heading into 2016 that ... Read More »

Labour calls for renationalisation after ‘staggering’ rail fare rises

Prices set to rise by average of 1.1%, meaning cost of some commuters’ tickets have increased by £2,000 since Tories took office A Virgin Trains season ticket between Birmingham and London Euston will cost more than £10,000 for the first time. Photograph: Matt Dunham/AP Commuters will be paying an average of 25% more for rail season tickets since David Cameron ... Read More »

India’s end-Sept external debt at $483.2 billion – govt

A money lender counts Indian rupee notes at his shop in Ahmedabad, India, May 6, 2015. REUTERS/AMIT DAVE/FILES India’s external debt was at $483.2 billion at end-September, down $291 million from end-June, the finance ministry said in a release on Thursday. Long-term debt accounted for 82.2 percent of the total external debt. India’s forex reserves were sufficient to cover 72.5 ... Read More »