Ukraine Bonds Soar

Ukraine Bonds Soar

Ukraine’s sovereign bonds have risen 12 per cent in value following the election of Donald Trump. The markets are hoping that he will bring a speedy ceasefire leading to the growth of the economy. The bonds were recently restructured and are now trading at a price of 49 cents on the dollar.

FCA Backtracks

In a submission to the Treasury Select Committee, Nikhil Rathi, CEO of the Financial Conduct Authority, has said the regulator will fundamentally re-shape its plan to name and shame more of the companies it investigates. The proposals had created a backlash in the City. Revised proposals will be presented in the next week or so. It is understood that a far smaller of cases will qualify for early disclosure.

FCA Delays

The FCA has announced that firms caught up in the motor finance debacle will be given more time to process claims. The Court of Appeal last week ruled that it was illegal for banks to pay commission to a car dealer with getting the customer’s informed consent. Given that this failure probably applies to most loans, the industry faces a £16 billion compensation bill! The banks involved are appealing.