Economy & Finance

Asia stocks edge up on optimism over global growth, dollar soft

Asia stocks edge up on optimism over global growth, dollar soft

Published 26/06/2017

FILE PHOTO: Passersby walk past in front of stock quotation board outside a brokerage in Tokyo, Japan, September 29, 2015. REUTERS/Issei Kato

Asian shares edged up on Monday on optimism for global growth, while the dollar was on the defensive as a subdued U.S. inflation outlook capped U.S. bond yields and raised questions about the Federal Reserve's plans to tighten policy.

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Oil rises one percent on weaker dollar, but U.S. drilling drags

Oil rises one percent on weaker dollar, but U.S. drilling drags

Published 26/06/2017

An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas, U.S., May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder

Oil prices rose 1 percent early on Monday on a weaker dollar, but an increase in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC-led effort to curb output.

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Intesa sees closure of 600 branches, exit of 3,900 staff in Veneto banks deal

Intesa sees closure of 600 branches, exit of 3,900 staff in Veneto banks deal

Published 26/06/2017

FILE PHOTO: Intesa Sanpaolo bank logo is seen at the headquarters during shareholders' meeting in Turin, Italy, April 27, 2017. REUTERS/Giorgio Perottino/File Photo

Intesa Sanpaolo (ISP.MI) said on Monday its planned acquisition of the good assets of Banca Popolare di Vicenza and Veneto Banca could lead to the closure of around 600 branches and the departure, on a voluntary basis, of around 3,900 staff.

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China court hands jail terms to Australians in Crown Resorts trial

China court hands jail terms to Australians in Crown Resorts trial

Published 26/06/2017

The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017. REUTERS/Jason Reed

A Chinese court handed short jail terms to three Australian employees of Crown Resorts Ltd (CWN.AX) in a quick-fire trial following a lengthy probe into how the firm lured Chinese high-rollers to its casinos.

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Australia`s Crown says fined by Chinese court over gaming offences

Australia`s Crown says fined by Chinese court over gaming offences

Published 26/06/2017

Australia's Crown Resorts Ltd (CWN.AX) said on Monday that 16 of its employees were fined a total of A$1.67 million ($1.27 million) by a Chinese court for breaching the country's gaming marketing laws.

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Australian banks warn surprise taxes scaring away investors

Australian banks warn surprise taxes scaring away investors

Published 26/06/2017

FILE PHOTO: The logo of the Commonwealth Bank of Australia (CBA) is displayed outside a branch in Sydney, Australia, March 21, 2016. REUTERS/David Gray/File Photo

Surprise taxes levied on Australia's banking sector are frightening off potential foreign investors by creating a less stable business environment, two of the country's major banks warned.

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Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

Published 26/06/2017

Takata Corp. Chairman and CEO Shigehisa Takada bows as he attends a news conference after its decision to file for bankruptcy protection in Tokyo, Japan, June 26, 2017. REUTERS/Toru Hanai

Japan's Takata Corp (7312.T), the firm at the centre of the auto industry's biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems.

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U.S. home lenders see leaner times ahead: Fannie Mae survey

U.S. home lenders see leaner times ahead: Fannie Mae survey

Published 26/06/2017

FILE PHOTO: New home construction is seen in San Diego, California, U.S. on August 21, 2015. REUTERS/Mike Blake/File Photo

U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry intensifies, Fannie Mae's latest quarterly survey released on Monday showed.

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Tradeweb to be main offshore trading platform for China `Bond Connect`

Tradeweb to be main offshore trading platform for China `Bond Connect`

Published 26/06/2017

Tradeweb, a fixed-income trading platform, will connect with China Foreign Exchange Trading System (CFETS) to be the main interface for offshore investors trading in China's bond market through the country's upcoming "Bond Connect" scheme, the company said on Monday.

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