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Wednesday's headlines, Financials edition

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Wednesday's headlines, Financials edition

Mutualfunds suffer worst outflows in a year due to Brexit fears Financial Times
EUwatchdog backs 'passport' for US hedge funds in Europe Reuters
EUcourt says bail-in legal but bank rescues need not hit investors Reuters
ECBbalance sheet expanded by €11.26 billion last week Reuters
Politicallysensitive tweaks to ECB bond scheme would only buy weeks Reuters
IMFrevises growth forecasts downwards and says global outlook has worsened afterBrexit vote City A.M.
IMFslashes UK growth forecasts after Brexit - but Britain will still outstripGermany, France and Italy The DailyTelegraph
Insurancetechnology startups blooming: PwC Reactions
J.P.Morgan: Q2 catastrophe losses likely to exceed reinsurer budgets Artemis
Only1 in 10 insurers is prepared for arrival of driverless cars Post

UK AND IRELAND

UKwatchdog says banks must still apply EU rules Reuters

Britain'sbig banks call for upstart rivals to share burden of free accounts Reuters
UKmarkets watchdog rethinks approach to consumer protection Reuters
Britishpolitician urges investors to curb bank chiefs' pay Reuters
Fidelitychief backs May's pay crackdown Sky News
NewUK Finance Minister Hammond says BoE to move first on Brexit responseReuters
BrexitArticle 50 challenge to quickly move to Supreme Court Bloomberg News
Cityof London's brokers put brave face on fallout from Brexit Financial Times
BoE'sWoods says no 'sweeping solution' for banks after Brexit Reuters
Britishfinancial watchdog calls for access to EU single market Financial Times
UKhedge-fund Brexit concerns eased by EU access opinion Bloomberg News
WithoutLondon Europe would have no finance center, Osborne says Bloomberg News
EUCommission sees possible UK recession next year after Brexit Reuters
Irelandto hit jobs target set by EU four years early Irish Independent

Arbuthnot Banking Group
Arbuthnotprofits soar after disposals as Secure Trust eyes acquisitions The Daily Telegraph
Arbuthnot,Secure Trust see bright spots after Brexit turmoil Reuters

AXA
AXAcreates new role as part of claims transformation program Insurance Times

Co-operative Bank
StrugglingCo-op Bank shakes up city advisers Sky News

IG Group
IGGroup reaps benefit of trading volatility as profits rise by a quarter The Daily Telegraph

Legal & General Group
L&Gbigs up bulk annuity deal to calm post-Brexit anxieties Financial Times

Lloyd's of London
ManyLloyd's contracts woefully inadequate on cyber wording Intelligent Insurer

GERMANY, SWITZERLAND AND AUSTRIA

ECBlending helping bank lending in Austria DerStandard
Germanyis the main economic victim of Brexit, says IMF Le Figaro

Allied World Assurance
AlliedWorld Assurance reports Q2 EPS of $1.70 Reuters

Deutsche Bank
S&Plowers Deutsche Bank outlook to negative from stable The Wall Street Journal
Deutschenames Germany, Austria corporate finance co-heads Reuters
DeutscheBank names co-heads in corporate finance finews.ch

Julius Bär Gruppe
JuliusBär rejigs regional set-up, Swiss head leaves Reuters
JuliusBär adopts new structure Handelsblatt

UBS
Greekprosecutors raid former UBS manager's home in tax probe Reuters

FRANCE AND BENELUX

Francekeeps Livret A savings rate at 0.75% Reuters

ABN AMRO Group
ABNAMRO CEO Zalm to leave early, in 2017 – report Reuters
Zalm setto quit early Het Financieele Dagblad

BNP Paribas
BNPParibas aims for 25% women members in executive committees by 2020 L'Agefi

SPAIN AND PORTUGAL

IMFlowers growth forecast for Spain and warns about Brexit El País
IMF:Portuguese banking among the main weaknesses of the world economy Jornal De Negócios

ABANCA
AbancaH1earnings rise 2.2% YOY to €186 million Europa Press

Banco Santander
Santanderdoubles investment in fintech fund to $200 million Reuters

Caixa Geral de Depósitos
Portugesefinance ministry expects solution to Caixa Geral de Depósitos 'in theshort-term' Diário Económico

ITALY AND GREECE

Italybank lending to households, non-financial firms down 0.04% YOY in JuneReuters
TheseSicilian mortgages show how difficult it is to rescue Italian banksBloomberg News
IMFcuts Italy's GDP to under 1%
AGI

NORDIC COUNTRIES

Norwaysees a YOY decline in H1 tax payments E24

Nordea Bank
Nordea'sinterest income expected to remain under pressure Børsen

EASTERN EUROPE

Afterfailed coup, Turkey's central bank cuts rates again Reuters
Turkishcentral bank cuts benchmark interest rate to 8.75% Jornal De Negócios
Turkishlira crashes following Ministry of Education purge - as powerful explosion isreported in Ankara City A.M.
IMFsees Turkish markets calming after central bank adds liquidity Reuters
Moody'sreviews for downgrade the ratings of 17 Turkish banks Reuters
Fitchaffirms Bulgaria at 'BBB-'; outlook stable Reuters
Russiancentral bank warns that hackers are interested in POS-terminals Vedomosti

Alior Bank
AliorBank gets regulatory green light to take over BPH operations PAP
KNFapproves takeover of Bank BPH by Alior WarsawBusiness Journal

PKO Bank Polski
PKO BP toopen branch in the Czech Republic WarsawBusiness Journal

VTB Bank
RussianDeposit Insurance Agency to ask VTB for shares with interim dividendsReuters

Yapi ve Kredi Bankasi
YapiKredi cancels $550 million 4.5% July 2023 bond ahead of settlement Reuters

The Daily Dose Europe"Headlines" edition aggregates banking, financial services andinsurance headlines from the websites of a limited number of major Europeanpublication titles and newswires, with an editorial deadline of 6 a.m. Londontime. Language translations to English are provided by an automated service andmay not be entirely accurate.