Bank of England splits over rate hike for first time in three years

LONDON - Bank of England policymakers broke ranks over interest rates for the first time in three years this month, when two unexpectedly voted to tighten policy and revived speculation about a 2014 rate hike.

Recent Business News

Exclusive - Bain Capital to invest in shoemaker TOMS: sources

NEW YORK - Private equity firm Bain Capital LLC has agreed to acquire a 50 percent stake in TOMS Shoes Inc in a deal that values the company, which makes casual footwear known as alpargatas, at about $625 million (376.55 million pounds)including debt, according to people familiar with the matter.

7:23pm BST

Mining giant Glencore makes good on pledge with $1 billion buyback

LONDON - Commodities group Glencore became the first of the large miners to honour promises to return cash to shareholders, announcing a share buyback programme of up to $1 billion (601 million pounds) as it reported forecast-beating first-half profit.

2:17pm BST

StanChart's $300 million fine raises heat on board

NEW YORK/LONDON - A $300 million (180.23 million pounds) fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had prompted calls for change at the top. | Video

5:49pm BST

Argentina bonds, peso reel on country's debt swap plan

BUENOS AIRES - Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, the economy minister said on Wednesday as the local peso currency weakened to a new historic low.

7:16pm BST

Banks, funds agree on wider window for FX fix

WARSAW/LONDON - Banks and asset managers are ready to support an extension of the one-minute window used to set currency market benchmarks, documents showed on Wednesday, but most are concerned by the risks involved and divided on how much of an extension.

G20 3:55pm BST
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