Oct. 10 (Reuters) – Below is the top story from the Financial Times. Reuters has not verified these articles and does not guarantee their accuracy.
heading
– Clydesdale Bank charged unreasonable fees to small businesses, High Court says
– Israel’s central bank to sell $30 billion of foreign exchange reserves to support shekels
– Metro Bank supports branch model after loan agreement is signed
– EU regulator orders Illumina to sell $8 billion cancer drug group
overview
– Four companies representing a broader group of 900 small and medium-sized businesses are suing National Australia Bank and Clydesdale Bank for charging unfair penalties on small business loans.
– The Bank of Israel announced on Monday that it plans to sell up to $30 billion in dollar reserves to support the shekel following market fallout from Hamas attacks, despite the central bank’s announcement. The shekel has fallen to a seven-year low against the dollar. , the weakest level since 2016.
– Britain’s Metro Bank insisted its branch-based model was the right one after striking a loan deal to fill a capital hole that gave Britain’s challenger banks some breathing room and prompted talks with regulators.
– EU regulators will order US biotech company Illumina to sell cancer test developer Grail after acquiring the company for $8 billion without Brussels approval. This is a move aimed at increasing penalties for Illumina after Brussels imposed a €432 million fine on the world’s largest genetic sequencing company ($456.8 million). In July, regulators charged it with defying what it called the “fundamentals” of its authority. ($1 = 0.9457 euro) (Created by Bangalore Newsroom)