Archive October 2016

Oceanwide to buy U.S. insurer Genworth for $2.7 billion, extends Chinese M&A push

Oceanwide to buy U.S. insurer Genworth for $2.7 billion, extends Chinese M&A push

Published 24/10/2016

George Twopointoh, brand ambassador for Genworth, speaks with Ugo Dumont, a volunteer for the Genworth R70i Aging Experience, during a demonstration at the Liberty Science Center in Jersey City, New Jersey in this file photo dated April 5, 2016. REUTERS/Shannon Stapleton

China Oceanwide Holdings Group Co has agreed to buy U.S. insurer Genworth Financial Inc (GNW.N) for $2.7 billion in cash, the latest in a series of moves by Chinese firms to buy overseas assets as their domestic economy slows and the yuan weakens.

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Regulators taking another look at costs of Wall Street safety rule

Regulators taking another look at costs of Wall Street safety rule

Published 24/10/2016

People sit outside the New York Stock Exchange (NYSE) during the morning commute in New York City, U.S., September 15, 2016. REUTERS/Brendan McDermid - RTSNWHN

Just as memories of the financial crisis are fading and tough new banking regulations are beginning to bite, some current and former regulators wonder whether one of the rules is too much of a burden for markets and taxpayers.

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Boeing takes on peers, partners in bid for replacement parts business

Boeing takes on peers, partners in bid for replacement parts business

Published 24/10/2016

Mechanic Andrew Newingham uses a wireless headset and voice-controlled computer to quickly input details about an auxiliary power unit engine needing repairs at a Honeywell Aerospace service center in Phoenix, Arizona September 6, 2016. REUTERS/Alwyn Scott

In search of higher profits margins, Boeing Co (BA.N) is aiming to win more of the lucrative market for replacement parts and repair services, pitting the plane maker against major suppliers who view that growing $62 billion a year market as their turf.

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U.S. government, MetLife set for rematch over `too big to fail`

U.S. government, MetLife set for rematch over `too big to fail`

Published 24/10/2016

The MetLife building is seen in New York, March 8, 2010. REUTERS/Shannon Stapleton/File Photo

The U.S. government and the country's largest life insurer are set for a rematch in a U.S. appeals court on Monday over how federal regulators decide a company is "too big to fail," one of the most significant reforms to come out of the financial crisis.

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Dollar index at eight-month highs as Fed rate hike looks ever more likely

Dollar index at eight-month highs as Fed rate hike looks ever more likely

Published 24/10/2016

Euro and Dollar banknotes are seen in a picture illustration taken October 19, 2016. REUTERS/Leonhard Foeger

The dollar edged up to a fresh eight-month high against a basket of currencies in Asian trade on Monday, buoyed by expectations that the U.S. Federal Reserve will raise interest rates this year.

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Oil prices drop as Iraq says doesn`t want to join OPEC cut

Oil prices drop as Iraq says doesn`t want to join OPEC cut

Published 24/10/2016

Flames emerge from a pipeline at the oil fields in Basra, southeast of Baghdad, Iraq October 14, 2016. REUTERS/Essam Al-Sudani

Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and as U.S. drillers stepped up work.

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Outlook dims for Singapore Inc as economy moonwalks

Outlook dims for Singapore Inc as economy moonwalks

Published 24/10/2016

A man carrying an umbrella passes as storm clouds gather over Shell's Pulau Bukom oil refinery in Singapore, December 17, 2014. REUTERS/Edgar Su/File Photo

During Singapore's full moon festival last month, employer John Kong was focused more on cost-cutting than celebrating.

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BOJ frets about real estate lending boom, watchful of bubble risk

BOJ frets about real estate lending boom, watchful of bubble risk

Published 24/10/2016

A Japanese flag flutters atop the Bank of Japan building in Tokyo, Japan, September 21, 2016. REUTERS/Toru Hanai/File Photo - RTX2P8PK

The Bank of Japan said on Monday it is closely monitoring bank lending to the real estate sector to guard against excessive credit that could lead to overheating and pose risks to financial stability.

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