Headlines - UK watchdog orders publication of 'synthetic' dollar Libor rate - European Central Bank calls for clampdown on commercial property funds
- Canada's Teck Resources rejects hostile approach by Glencore
- UK extends timeline on plan to reduce public stake in NatWest
Overview
- UK financial watchdog Financial Conduct Authority (FCA)has ordered that some synthetic U.S. dollar Libor rates continue to be published beyond the original June deadline.
- European Central Bank (ECB) has called for restraint on commercial property funds to tackle the risk that a downturn in the sector could trigger a liquidity crisis if investors rushed to withdraw their money.
- Canada's Teck Resources rejected a hostile approach from Glencore PLC that would have created a natural resources giant valued at more than $90 billion.
- The UK government has extended a deadline for reducing its stake in NatWest Group PLC by two years, after bank stocks were affected worldwide by the fallout from Silicon Valley Bank's collapse and a $3.25 billion rescue deal for Credit Suisse. (Compiled by Bengaluru newsroom)
