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The director of Zurich‑based private bank Julius Baer has said Switzerland should maintain a public register of bankers who have violated their professional duties. "Registering financial market participants has clear advantages," Stefan Bollinger told Neue Zürcher Zeitung. "This prevents bad actors from simply crossing to the other side of the street and carrying on as if nothing had happened."

 

Reuters

NatWest has announced its acquisition of wealth manager Evelyn Partners for £2.7bn, marking its first significant purchase since returning to private ownership. The merger combines Evelyn's £69bn in assets under management with NatWest's £59bn. The acquisition is projected to increase NatWest's fee income by approximately 20% and generate annual cost savings of around £100m. The deal brings 2,400 Evelyn employees into NatWest and positions the bank to attract affluent clients. Shares in the lender fell 6%, or 39.4p, to 620p as markets reacted cautiously - though the bank insisted it had not overpaid.

 

Daily Mail

The Daily Telegraph

The Guardian

The Times

Israel's N12 News has reported that multinational fashion retailer Primark is preparing to enter the Israeli market, through a partnership with either Electra Consumer Network, Max Stock, or the Inditex Group's Israeli franchise. Electra Consumer Network, a source said, "has extensive experience with international brands and is constantly examining the arrival of super brands to Israel, including Primark".

 

The Jerusalem Post

A consortium led by Advent International and FedEx has agreed to acquire Polish parcel-locker operator InPost in a deal valuing the company at €7.8bn. The buyers will launch a cash offer of €15.60 per share, a 50% premium to InPost’s price before takeover talks emerged, with the transaction expected to complete in the second half of the year.

 

Bloomberg

Financial Times

The UK's Financial Conduct Authority (FCA) is set to collect and publish comprehensive data on share trading to counter perceptions of low liquidity in UK public markets. Interim director Simon Walls said: "The truth is we have way more liquidity here than is often reported." Current liquidity estimates, based solely on the London Stock Exchange's central limit order book, overlook significant trading activities, including those in dark pools. The FCA's efforts aim to dispel myths and demonstrate that UK liquidity is comparable to that of major US indices.

 

City AM

The EU is preparing to recalibrate its Emissions Trading System under industry and government pressure, with reforms due from the European Commission in the third quarter. Options under discussion include slowing the pace of emissions-cap reductions, adjusting free-allowance rules, and measures to reduce price volatility. Policymakers argue changes are needed to protect competitiveness while maintaining climate goals.

 

Bloomberg

Global securities regulators are set to probe the risks of private equity investments in audit firms, as buyout groups attracted by cash flows and potential market consolidation acquire mid-tier accountants.

 

Financial Times

Novo Nordisk has filed a lawsuit against Hims and Hers Health for patent infringement after Hims attempted to launch a $49 version of Novo's weight-loss drug, Wegovy. The lawsuit addresses both pill and injectable forms of Novo's drugs, reflecting tensions between drug manufacturers and compounding pharmacies. Analysts suggest this legal action may signal a broader crackdown on compounded GLP-1 drugs.

 

Bloomberg

CNBC

The Independent UK

UK tax office HMRC is seeking to block embattled oil and gas company Waldorf Production from restructuring its liabilities in a London court. Waldorf owes HMRC an estimated $72.4m and is seeking to write off liabilities including around $117m of outstanding bonds. The tax office is challenging the firm's attempt to rid itself of debts, arguing that it is not an ordinary commercial creditor and that the court has no authority to impose a "compromise."

 

Bloomberg

The European Commission proposed a new Russia sanctions package that would replace an oil price cap with a full ban on maritime services, plus restrictions on imports of certain metals, chemicals, and critical minerals. Commission President Ursula von der Leyen urged approval ahead of the Ukraine war’s fourth anniversary and said: “We propose to enact this full ban in coordination with like-minded partners after a decision of the G7.” The plan would blacklist 43 additional “shadow fleet” vessels, tighten export bans, add penalties on 20 regional banks, and expand measures targeting crypto-based circumvention.

 

Bloomberg

The US embassy in London is preventing top-level business executives from travelling to America over minor criminal offences, as President Donald Trump’s clampdown on immigration extends to the UK.

 

Financial Times

A three-day rail union national strike in Spain over safety concerns which was set to last until Wednesday has now been called off after authorities agreed to boost investments and reinforce staffing following a number of high-profile train accidents. The government will invest €1.8bn ($2.15bn) in railroad maintenance until 2030 and will hire 3,650 additional workers for the public-funded rail administrator and operator, Spain's Transport Ministry said.

 

Euronews

Reuters

Germany’s carnival season is expected to generate almost €2bn in revenue this year, according to the German Economic Institute, benefiting sectors such as hospitality, retail and transport. However, takings are forecast to be around €100m lower than in 2025 due to the season being 15 days shorter, as Easter falls earlier. Hotels, bars and restaurants are set to earn about €900m, retail around €400m, transport €290m and overnight stays roughly €210m.

 

Reuters