Articles by Andrea Shalal and Jan Strupczewski

G7 Leaders Vow to Combat Surging Ransomware Attacks Against Financial Services

Financial leaders of the world’s seven biggest economies on Tuesday vowed to fight rising ransomware attacks amid the COVID-19 pandemic, and said no stablecoin operation should start until it is properly regulated. In a joint statement, the finance officials of …

SoftBank May Sue Wirecard Accountant EY; EU Probes Germany’s Regulator

The European Union is investigating Germany’s financial regulator over the collapse of payments company Wirecard in a rare move that heaps embarrassment on Berlin days before it is due to take over the EU’s rotating presidency. Wirecard’s implosion on Thursday, …

EU Will Not Offer Post-Brexit Passporting for UK Insurers, Banks: Diplomats

European Union negotiators see no room for discussion with Britain on maintaining “passport” access to EU financial markets for its banks after Brexit, but they are willing to look at free trade in the sector, diplomats said. Speaking after EU …

G20 Puts ‘Brexit’ on List of Top Global Risks After Push by UK Government

British finance minister George Osborne pushed financial leaders from the top 20 economies to include the risk of Britain leaving the European Union in their list of dangers to the world economy on Saturday, gaining explicit support from the United …

G20 Wrangles over Currencies, Borrowing, Deficits at Moscow Talks

The Group of 20 major economies struggled on Friday to find common ground on currencies and borrowing, exposing rifts between advocates of a dash for growth and supporters of more austerity to revive the world economy. A meeting in Moscow …

Euro Zone, IMF Secure Deal on Cutting Greek Debt

Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece’s debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat. After 12 hours of talks at their third meeting …

EU, IMF Clash over Greece Revives Debt Crisis Fears

A public clash between Greece’s international lenders over how Athens can bring its debts down to a sustainable level has reignited fears that the crisis could flare up anew. Euro zone finance ministers suggested that Greece, where the euro zone …

World Economies Prepare for Panic after Greek Elections

Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro …

Euro Zone Ministers Reject Private Bondholders’ Offer on Greek Bonds

Euro zone finance ministers on Monday rejected as insufficient an offer made by private bondholders to help restructure Greece’s debts, sending negotiators back to the drawing board and raising the threat of Greek default. At a meeting in Brussels, ministers …

France to Seek G20 Overhaul of Global Monetary System

France will start talks on overhauling the global monetary system during its G20 presidency to improve policy coordination and stem capital flows distorting exchange rates, Economy Minister Christine Lagarde said Thursday. France will take over the chair of the Group …