London has no desire for a bonfire of regulations to retain its position as a top international finance centre after Brexit but it is ready to act if the European Union blocks access, the City of London's political leader said.
The Italian head of state wants both the cabinet and parliament to approve a European Union recovery plan before any eventual political showdown between the ruling coalition parties, a political source said on Monday.
London has no desire for a bonfire of regulations to retain its position as a top international finance centre after Brexit but it is ready to act if the European Union blocks access, the City of London's political leader said.
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NEW YORK (Reuters) - Stocks fell around the world on Wednesday as investors turned more cautious over stretched valuations and the economic impact of the COVID-19 pandemic, while the dollar rose on its safe-haven appeal.
FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford
Oil prices were little changed as demand concerns were mostly offset by a large drop in U.S. crude inventories.
Stocks in the United States added to losses after the Federal Reserve left its key rate near zero and made no change to its monthly bond purchases, while flagging a potential slowdown in the pace of the economic recovery.
By Reuters Staff
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WASHINGTON, Jan 14 (Reuters) - The Treasury Department announced on Thursday it was overhauling its stake in Fannie Mae and Freddie Mac, charting a course for the housing giants to slowly rebuild their capital with an eye towards eventually letting them issue public stock and escape government control.
The changes would allow the pair to retain profits in exchange for giving the Treasury a larger stake, but envisions years of rebuilding capital cushions before they could pay out dividends to investors or exit government control.
Government officials also acknowledged that a number of complicated issues must still be resolved by the incoming Biden administration. (Reporting by Pete Schroeder Editing by Chris Reese)