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Global banks sharpen focus on yuan offerings as China's Silk Road fuels demand

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HONG KONG Global banks including Citigroup and HSBC are boosting their staff and presence for offerings in yuan -- from capital market solutions to hedging -- as China's drive to build a modern Silk Road fuels demand.

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Ex-HSBC currency chief's motives debated as U.S. fraud trial starts 25 Sep 2017

NEW YORK A former top HSBC Holdings Plc executive threw his Scottish client "under the bus" by using his knowledge of its large planned currency transaction to do his own trading first, a U.S. prosecutor said on Monday at the start of a closely-watched trial.

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FINRA orders Morgan Stanley to pay $13 million in fines, restitution 25 Sep 2017

NEW YORK The Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million (9.61 million pounds) in fines and restitution to clients for inadequately supervising certain short-term trades.

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Citigroup targets Belt and Road to boost China revenue 22 Sep 2017

BEIJING Citigroup Inc expects to boost its revenue growth in China by tapping into opportunities presented by Beijing's Belt & Road initiative, the bank's China chief said.

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UniCredit proposes to remove 5 percent cap on voting rights 21 Sep 2017

MILAN UniCredit has called a shareholder meeting for Dec. 4 to put new governance proposals to the vote, including removing a 5 percent cap on voting rights and allowing the board to select its own candidates to be directors.

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Banks boost European shares after Fed signals December hike 21 Sep 2017

LONDON Banking shares drove European bourses higher on Thursday after the U.S. Federal Reserve signalled a likely December rate hike and announced it would begin trimming its balance sheet in October.

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Exclusive - Macquarie leapfrogs Goldman to join top tier of commodity banks 21 Sep 2017

LONDON Australia's Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in recent years while rivals cut back.

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Australia's CBA to sell insurance unit to AIA Group for $3 billion 21 Sep 2017

SYDNEY Commonwealth Bank of Australia has agreed to sell its life insurance unit to Hong Kong-based AIA Group for $3.1 billion (2.3 billion pounds), in the biggest Asian buyout of an Australian financial firm.

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Exclusive - Italy's UniCredit signals interest in deal with Germany's Commerzbank: sources 20 Sep 2017

FRANKFURT Italy's UniCredit has recently told Berlin it is interested in eventually merging with state-backed Commerzbank , two people familiar with the matter said, a combination that would create one of Europe's biggest banks.

Switzerland's SIX looks at potential $2 billion sale of payments unit - sources 20 Sep 2017

FRANKFURT/LONDON Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs (1.53 billion pounds), sources familiar with the plans told Reuters.