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Leaders of the other 27 European Union member states have rejected British Prime Minister Theresa May's requests for further concessions, Council President Donald Tusk said. (AP)

EU Refuses To Reopen Brexit Deal, Putting Passage In Doubt

The European Council has formally told the U.K. that its Brexit withdrawal agreement is not open to renegotiation even though a majority of British lawmakers rejected the package, increasing the odds of a no-deal departure from the bloc or a postponement.

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Watchdog Toughens Complaint Process For Payment Fraud

Victims of "push-payment" fraud will be able to complain to the payment services provider that received their money under new rules published by the Financial Conduct Authority on Friday.

Iranian Insurer Denied Compensation Over EU Nuke Sanctions

The European Union’s General Court has refused to grant millions of euros in damages to a state-owned Iranian insurer after its assets were frozen under nuclear sanctions against Tehran, handing victory to the European Council.

Watchdog Warns Of Growing Cyberthreat For EU Banks

Cyber and data security breaches are one of the main challenges faced by Europe’s banks, the European Banking Authority said on Friday, amid recent concern among regulators that businesses are failing to manage IT risks.

ECB To Supervise Irish Units Of Barclays, Bank Of America

The European Central Bank said Friday that it will assume direct supervision of the Irish subsidiaries of Barclays Bank and Bank of America Merrill Lynch to reflect expectations of their growing size and importance after Brexit.

BoE Acts On Travel Expenses After Pressure From MPs

The Bank of England said Friday it has tightened its expenses regime after two senior regulatory experts, one of them a former vice chairman of the U.S. Federal Reserve, angered MPs by racking up £390,000 ($490,000) on travel costs over two and a half years.

UK Top Court To Determine Churchill's Liability For £2M Blaze

The U.K. Supreme Court is considering whether a leading motor insurer must pay for extensive damage caused to buildings after a mechanic sparked a fire while welding his car, in a case that could widen the industry’s exposure to third-party claims.

UK Antitrust Watchdog Sets New Investment Adviser Rules

Britain’s antitrust watchdog said Wednesday that it will introduce reforms to the sector responsible for managing £1.6 trillion ($2 trillion) worth of pensions after it identified problems with competition during an extensive probe.

US To Sign Deal With UK On Post-Brexit Insurance Trade

The U.S. government said Wednesday that it intends to sign a sweeping agreement with the U.K. that will help American firms keep pushing into the world’s fourth-largest insurance market after Britain exits the European Union.

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