George Hay coordinates European financial coverage and writes about macroeconomics, the euro zone and UK/European financial policy. He covered European banks for Breakingviews during the financial crisis, and has also worked as a correspondent for AFX News and at United Business Media. He attended Edinburgh University and his work has been recognised at the UK’s Business Journalist of the Year Awards. Follow George on Twitter @gfhay
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The German bank has parted company with the head of its integrity committee, following criticism of his “overzealous” approach. Deutsche has new executives and says it is committed to addressing past scandals. If so, there should be a place at the table for such ardour.
The UK bank’s payout growth hinges on keeping its capital ratio at 13 percent - which it barely managed in the first quarter. Lloyds’ potential to generate lots of capital is undimmed. But if Britons vote to quit the EU, those earnings may have to be diverted to running repairs.
A Dutch court has overturned an order for Moscow to compensate shareholders in the oil group that lost out from its seizure. Russia could use the money, and the positive PR. But the legal battle isn’t over, and the new ruling doesn’t address whether Yukos was fairly treated.
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- AXA stalwart would be partial fix for HSBC
- Osborne clings to misguided surplus fetish