The bank expects large-scale benchmark rate cuts by central banks around the world to hurt its income by a further $600 million in 2020

Standard Chartered PLC’s first-quarter pretax underlying profit fell despite higher income, as credit impairments rose significantly due to the rapid spread of the coronavirus pandemic.

Pretax underlying profit fell 12% to $1.22 billion, the Asia-focused bank said Wednesday.

Standard Chartered hit by surge in impairments

Yifan Wang

Standard Chartered

Goldman Sachs holds top spot as equities trading buoys Wall Street earnings

FCA’s plan to ease market-maker rules is a new threat to banks

BlackRock faces big challenges over private markets index fund ambitions

Former Goldman Sachs executive Amar Kuchinad joins crypto firm Copper as CEO 

https://images.fnlondon.com/im-88462949?size=1.5

Former Goldman Sachs MD Amar Kuchinad joins crypto firm Copper as CEO

Dmitry Tokarev has stepped back from his role as chief executive after seven years

Kirkland loses regulatory partner to Paul Weiss 

https://images.fnlondon.com/im-68429219?size=1.5

Kirkland has been raided by Paul Weiss since it kicked off its English law offering last summer

BNP Paribas dealmaker McNaught departs in UK advisory shake-up

https://images.fnlondon.com/im-93271833?size=1.5

The French bank has added a further two managing directors amid reshuffle in UK deals team

The regulator’s former enforcement director becomes a partner at Milbank after three years pushing fines higher at the SEC.

SEC’s Grewal Moves to Wall Street After Turning Tough as Its Overseer

Inflation in the U.K. fell below the Bank of England’s 2% target in September for the first time in more than three years, making an interest-rate cut next month more likely.

U.K. Inflation Falls to Below BOE Target, Setting Up Rate Cut

The regulator said it is concerned that the part of the market that allows people to pay for insurance in installments might not be providing fair value to more than 20 million customers.

U.K. Regulator Starts Review Into Motor and Home Insurance Market

Fate of Lina Khan’s Bid to Reshape Antitrust Comes Down to Election

Chinese stocks have gone from ice-cold to red-hot in a matter of weeks, but it might be driven by momentum rather than enough stimulus to solve China’s economic woes.

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Financial News

SEC’s Grewal Moves to Wall Street After Turning Tough as Its Overseer

U.K. Inflation Falls to Below BOE Target, Setting Up Rate Cut

U.K. Regulator Starts Review Into Motor and Home Insurance Market

Don’t Chase China’s FOMO Rally