Friday 06:00 GMT Overview Asian markets were broadly positive on Friday as South Korea’s president was formally impeached, while Treasuries remained under pressure ahead of the US jobs report that could fuel expectations the Federal Reserve will raise interest rates next week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 20 points to 7,335 and Germany’s Dax to climb […]
The cost of shorting shares of Snap has fallen sharply as bets against the owner of the messaging app slowed and the share price rallied. Snap’s stock has rebounded in recent sessions after selling off earlier in the week as several analysts’ reports expressed scepticism about the group’s valuation, which had surged above $30bn in the initial euphoria following its high-profile listing last week. At midday in […]
By Jonathan Stempel | NEW YORK NEW YORK Former New Jersey Governor Jon Corzine defended his big bet on European sovereign debt that was a major factor in the collapse of his company MF Global Holdings Ltd, and said the auditor of the futures and commodities brokerage should have flagged any accounting problems. Corzine, also a former New Jersey senator and Goldman Sachs Group Inc (GS.N) co-chairman, […]
Dutch paints and coatings maker Akzo Nobel has rejected an unsolicited €20.9bn takeover bid by US industrial chemicals rival PPG Industries and said it is instead looking at spinning off its specialty chemicals business. Akzo Nobel said on Thursday that the PPG bid substantially undervalued its prospects and it made a broader appeal to its stakeholders by saying the takeover was not in the interests of customers […]
Oil prices were under intensifying pressure on Thursday, with the US West Texas Intermediate benchmark dipping below $49 a barrel for the first time since late November. The falls came after oil prices fell the most in more than a year over the previous session when US crude inventories climbed for a ninth straight week to a record high. Renewed concerns about a supply glut sent ripples […]
Thursday 14:30 GMT Overview The euro is firmer and Bund yields are trundling higher with Treasuries after the European Central Bank stood pat on interest rates and indicated it was not looking to ease policy further. Oil prices tried to rally but have resumed their sell-off, putting energy stocks under pressure and weighing on equity benchmarks. Hot topic (1) After a period when politicians seemed to rule […]
By Jibran Ahmad | Peshawar, Pakistan Peshawar, Pakistan Pakistan has indefinitely closed two border crossings with Afghanistan after opening them for two days to let through Afghans with visas, officials said on Thursday. The official border crossings were abruptly ordered closed last month after a series of attacks Pakistan blames on militants sheltered in Afghanistan, heightening tension between the neighbours. But Pakistan temporarily reopened the crossings on […]
We have just lived through the most spectacular global bullmarket run for the fixed income markets. This bull market rallied the bond market tothe lowest yields ever! Over a third ofall global fixed income was trading with a negative yield. The most accommodative central bank policiesmade heroes out of bond fund managers. Bond investors that stayed fullyinvested with fingers crossed, hoping for the greater fool theory to […]
By Gertrude Chavez-Dreyfuss and Trevor Hunnicutt | NEW YORK NEW YORK Investors are betting market regulators will approve what would be the first U.S. exchange-traded fund to track the price of bitcoin. From investment funds to wealthy individuals and even a Las Vegas strip club, the bitcoin ETF is generating a lot of buzz for a financial product. The surge in interest in the digital currency is […]
By Susan Cornwell and Yasmeen Abutaleb | WASHINGTON WASHINGTON Democrats mounted a fierce uphill battle on Wednesday to thwart a Republican plan backed by President Donald Trump to overhaul the U.S. healthcare system, even as the legislation also drew fire from a top medical group and dissatisfied conservatives. Two House of Representatives committees began debating the bill and considering amendments two days after it was unveiled by […]
For many, South Korea’s decision to host a missile shield to defend against its hostile northern neighbour should not be controversial. In the past month alone, North Korea has fired six ballistic missiles, with a barrage of four successful launches on Monday trumpeted by Pyongyang as being a drill targeting US bases in Japan. But in a region riven by simmering historical grievances, Seoul’s move has sparked a bitter […]
Here are the big questions set to frame a new trading week for markets. How frothy are equity and junk bond valuations looking?Another record-breaking week for equities and a red hot reception for the Snap initial public offering is not the only sign of investor optimism running wild. Junk bond spreads — the premium investors demand to hold the bonds over Treasury yields — are heading towards […]
By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks edged lower on Wednesday after a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a U.S. policy meeting next week that may see interest rates rising for the second time in three months. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent in early trade, a […]
Canadian financial services group Canaccord Genuity’s aims to double the contributions to its investment banking business from the Middle East and India in the next five years, its regional head told Reuters. It recently helped broker a C$5 billion ($3.7 billion) investment partnership between Dubai ports operator DP World and Caisse de depot et placement du Quebec, Canada’s second-largest public pension fund. “We think this could be […]
By Jonathan Stempel | NEW YORK NEW YORK PricewaterhouseCoopers LLP [PWC.UL] pinned the blame for MF Global Holdings Ltd’s collapse squarely on the commodity brokerage and its former chief executive, Jon Corzine, at the start on Tuesday of a trial over whether the auditor should pay about $3 billion for its alleged negligence. Jurors are considering a demand by MF Global’s bankruptcy plan administrator that PwC be […]
Snap Inc’s shares fell as much as 10.4 percent on Tuesday, opening at their lowest since a blockbuster market debut last week. Snap’s shares hit a low of $21.30 in early trading on Tuesday, wiping out more than $9 billion of the company’s market capitalization from Friday’s high. Shares surged 44 percent in a hotly anticipated listing on Thursday, valuing the parent of Snapchat, an app popular […]
How do you solve a problem like China’s excess corn stocks? Use it to make translucent film for greenhouses is one answer, its most influential agricultural expert said on Monday, as Beijing casts about for ways to rid itself of unwanted stores of corn and other agricultural commodities built up in recent years. The end of China’s failed minimum price policy for corn has forced a restructuring of […]
Etihad Aviation Group employs nearly 10,000 women as it marks International Women’s Day 07 March 2017 Her Highness Dr. Sheikha Shamma bint Mohammed Al Nahyan has made a special visit to Etihad’s Global Business Service Solutions (GBSS) facility in Al Ain. Today’s visit was part of Etihad Aviation Group’s (EAG) activities to mark International Women’s Day, recognised internationally on 8 March each year to celebrate the achievements […]
GoldenEye ransomware targets human resources departments because they’re used to opening emails and attachments from unknown sources. Image: Ali Donzanti What is a ransomware attack? Cybercriminals didn’t use to be so obvious. If hackers infiltrated your corporate network, they would do everything possible to avoid detection. It was in their best interests not to alert a victim that they’d fallen victim to cybercrime. But now, if you […]
CYBERJAYA, Mar 7 (Bernama) — The Cabinet is likely to discuss Malaysia’s trade relations with North Korea at its meeting this Friday following rising tension between the two countries, said Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan. Ong, when met after opening the T-Sytems Malaysia Innovation Centre T-Hub here today, said: “I think it (the Cabinet) will make a decision on this (trade).” […]
Tuesday 02:00 GMT Overview Markets were in wait-and-see mode in Asia trading with investors in Australia awaiting an interest rates decision from the country’s central bank. Hot topic Tokyo’s Topix index was flat, while the Nikkei 225 index was off 0.1 per cent. Nintendo was a bright spot with its shares climbing just over 2 per cent, on track for a third straight day of gains following […]
Snap has fallen below Thursday’s opening price, losing 12 per cent on Monday as analysts issued ‘sell’ ratings on the owner of messaging app Snapchat. Shares in Snap, which went public three days ago, closed at $23.77, below its $24 opening price on the New York Stock Exchange. The broader market closed down 0.3 per cent. However, Snap is still 40 per cent above the $17 at […]
Monday 21:56 GMT Overview Global equities sold off on Monday, encouraging flows into sovereign debt, after Asian markets were rattled by North Korea firing missiles into the Sea of Japan and the Federal Reserve’s interest rate meeting drew nearer. US President Donald Trump’s latest spat with the country’s security services may also be damping the mood somewhat as markets continue to price in a rate rise by […]
By David Lawder | WASHINGTON WASHINGTON Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was “one of the most difficult” trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions. Navarro, the director of the new White House National Trade Council, said at an economic conference in Washington that Germany has used the […]
