11 Aug
Two earthquakes kill at least 153 in Iran
|
Original post by Reuters and software by Elliott Back Not What You Needed? Check Out These Related Sites... |
Breaking News- Futures slip, Wall Street set for weekly declineNEW YORK (Reuters) - Stock futures fell on Friday, setting up Wall Street for its first weekly decline since mid April, amid concern the central bank may scale back its support to the economy. Trading has been choppy in the second half of the week as market participants assess the Federal Reserve's evolving stance towards markets. Fed support has been instrumental in a rally that has boosted U.S. stocks to record highs this year. Procter & Gamble shares rose 2.9 percent in premarket trading, a day after the world's largest household products maker brought back A.G. ...
- Market turbulence poses first serious test for AbenomicsBy William Mallard TOKYO (Reuters) - This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide. On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range between positive and negative territory before ending up 0.9 percent. The violent moves kept investors on edge after a 7. ...
- Academics back BP's fight to cap oil spill payoutsBy Andrew Callus LONDON (Reuters) - A group of accountancy professors is backing BP's fight to cap the U.S. oil spill compensation payouts it has to fund as the cash outflow threatens to add billions of dollars to its bill for the disaster. The news comes after the payouts administrator, Patrick Juneau, predicted that over 200,000 claims may be made in total by businesses and individuals under a settlement BP agreed last year - a level that could result in a charge against the oil company's profits as early as next year. ...
- HSBC urges acceleration of banking reformLONDON (Reuters) - HSBC's Chairman Douglas Flint said on Friday the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being undermined. "We have a once-in-a-generation opportunity to reform banking and the broader financial industry," Flint told shareholders at the bank's annual general meeting. "As a first priority we need to speed up the reform process. Otherwise investor confidence in the sector will continue to be undermined," he added. (Reporting by Matt Scuffham, editing by Sinead Cruise)
- Analysis: German economy to pick up but fall short of traditional paceBy Sarah Marsh BERLIN (Reuters) - Germany's economy will recover from a bout of winter weakness but fall well short of the dynamic growth rates of previous years as euro zone recession and global slowdown stunt exports and investment. There are homegrown problems too. What hue of government will result from September elections is injecting uncertainty and foreign investors cite worries about over-regulation and Germany's future energy mix after Chancellor Angela Merkel turned her back on nuclear power. ...
- Three mainland Chinese charged in HK mercantile exchange probeBy James Pomfret HONG KONG (Reuters) - Three men were charged on Friday in a Hong Kong court with possessing false documents including a check for $460 million in connection with an investigation into the city's shuttered Hong Kong Mercantile Exchange. The exchange, which operated a trading platform for gold and silver futures, surrendered its license to the Securities and Futures Commission at the weekend, saying it did not have enough trading revenues to support its operating expenses. ...
- EU risks "too big to cooperate" bank supervisionBy Martin Santa and Huw Jones BRUSSELS/LONDON (Reuters) - The role of the European Banking Authority must be beefed up beyond current plans to ensure that regulation of Europe's banks does not fragment into two competing systems, one of the architects of the reforms told a public hearing on Friday. Jacques de Larosiere, former head of the Bank of France and IMF, said the European Central Bank's role in a European Banking Union to supervise euro zone lenders risked creating a "duopoly" that would split the bloc's single market next year. ...
- Exclusive: Malaysia tycoon plans IPO of football club Cardiff City - sourcesBy Yantoultra Ngui KUALA LUMPUR (Reuters) - Malaysian billionaire Vincent Tan is exploring an IPO of British soccer team Cardiff City for as early as this year, people with knowledge of the matter told Reuters, in a deal that would follow the team's recent promotion to the Premier League. The process is in its early stages, the people said, with details on the timing, size and listing venue subject to change. A listing would come after Manchester United Plc's debut on the New York Stock Exchange last year, which raised $233.2 million in the largest sports team IPO ever. ...
- Bank of England's Fisher says does not want U.S.-style QE pledgeBy William Schomberg CARDIFF (Reuters) - A Bank of England policymaker said on Friday he favored small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal Reserve. "I don't think I want to get into the American position of saying it is indefinite and then stopping," said Paul Fisher, one of the British bank's rate-setters. "I think the Americans are finding it a bit hard - as we have seen recently - to get out, because they have got this indefinite horizon. ...
- StanChart's Sands says Muddy Waters' debt bet misplacedBy Janeman Latul and Kanupriya Kapoor JAKARTA (Reuters) - Standard Chartered PLC's chief executive Peter Sands denied U.S. activist investor Muddy Waters' claim that the bank has taken on too much risk, saying its loan book was in a good condition and there is no change in risk appetite for lending. Sands' comments came after Carson Block, the founder of Muddy Waters, told a conference earlier this month that he had bet against Standard Chartered's debt because he thought the market was underestimating the risk in the bank's loan portfolio. ...
- Futures slip, Wall Street set for weekly decline
