CAIRO (Reuters) – Sudan’s central bank on Sunday strengthened the Sudanese pound to 45 pounds to the dollar from 47.5, state news agency SUNA reported. It said the measure coincided with the sharp rise in the price of the pound against the dollar on the parall... More »
SAO PAULO (Reuters) – U.S. private equity firm Advent International Corp is preparing to launch a $2.2 billion fund to invest in Latin American companies, two people with knowledge of the matter told Reuters. The fund launched in coming days will be Advent’s s... More »
MILAN (Reuters) – Italy’s biggest lender UniCredit said it is among a group of banks accused of running a cartel in trading euro zone government bonds between 2007 and 2012, years when financial crises dragged down banks and several European countries. UniCred... More »
BUCHAREST (Reuters) – Mergers in Europe’s fragmented banking sector are necessary to make the sector more resilient as the euro zone seeks to protect itself from future crises, France’s finance minister told Reuters in an interview. Bruno Le Maire, who joined ... More »
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. Chongqing Changan Automobile s... More »
HONG KONG/SHANGHAI (Reuters) – Co-working space operators in China are shifting their focus from ambitious expansion plans to services such as customizing offices for clients, as rising vacancy rates and tighter financing slow their exponential growth of the p... More »
SINGAPORE (Reuters) – Singapore Telecommunications Ltd said on Monday it has signed a partnership to enable the use of its cross-border mobile wallet platform in Japan, as the telecom operator moves ahead with its digital payments expansion. The partnership wi... More »
NEW YORK (Reuters) – TPG Capital senior executive Bill McGlashan on Thursday left the private equity firm after he was charged in connection with a U.S. college fraud scheme that has ensnared Hollywood celebrities and corporate elite. It is the latest fallout ... More »
WASHINGTON (Reuters) – The top U.S. securities regulator said on Tuesday that BB&T Securities has agreed to return more than $5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled clients about the cost of ad... More »
HONG KONG (Reuters) – KKR & Co Inc has poached Kate Richdale, Goldman Sachs Group Inc chair of Asia investment banking ex-Japan. Richdale will be KKR’s head of strategy and business development in the Asia-Pacific region, and will also work with KKR’s Asia inv... More »
SHANGHAI (Reuters) – Chinese asset managers are rushing to set up funds targeting Shanghai’s upcoming Nasdaq-style technology board, in a race likely to fuel concern that China’s speculative trading culture could lead to more price bubbles. Applications from m... More »
BOSTON (Reuters) – Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already mad... More »
ROME (Reuters) – Italian Economy Minister Giovanni Tria said on Wednesday that European Union “bail-in” rules covering failing banks should be scrapped. Tria told parliament he agreed with comments by Antonio Patuelli, the head of Italy’s banking lobby, who ea... More »
HONG KONG/LONDON (Reuters) – Standard Chartered PLC has unveiled plans to double returns and dividends in three years by cutting $700 million in costs and boosting income, even though the bank missed its previous targets in tough market conditions. Chief Execu... More »
STOCKHOLM (Reuters) – Swedbank said on Tuesday it had hired external forensic auditors to investigate information in a media report linking the bank to a Baltic money laundering scandal, replacing recently appointed audit firm EY. Sweden’s public broadcaster a... More »
LONDON (Reuters) – Prime Minister Theresa May’s Brexit deal should be put to a second referendum if it is passed by parliament, the Brexit spokesman for the opposition Labour Party Keir Starmer said on Tuesday. On Monday, Labour said it would back calls for a ... More »
LONDON (Reuters) – Major banks are still not ready for a ‘no-deal’ Brexit as they grapple with delays in licences for new European Union businesses, staffing problems and snags in redrafting contracts. Despite thousands of staff working on preparations for mor... More »
SAN FRANCISCO (Reuters) – The U.S. Securities and Exchange Commission (SEC) is pursuing a contempt order against Tesla Inc CEO Elon Musk, saying he violated a fraud settlement by tweeting material information without preapproval, sending the firm’s shares down... More »
NEW YORK (Reuters) – Deutsche Bank has hired Bank of America Corp’s Robert Innocentin as a managing director within its financial sponsors group, according to a memo seen by Reuters on Monday. Innocentin will join Deutsche Bank in May after four years as a man... More »
LONDON (Reuters) – Bank of America Merrill Lynch has named Sanaz Zaimi as head of its new Paris-based European Union broker-dealer unit BofA Securities Europe, the U.S. bank said on Friday. “We began the relocation of roles to our new Paris office this week. T... More »
LONDON (Reuters) – Britain’s education minister Damian Hinds said on Monday he did not envisage a no-deal Brexit becoming the official policy of Prime Minister Theresa May’s government. Asked if May had told her cabinet of senior ministers she would not allow ... More »
WASHINGTON (Reuters) – President Donald Trump expressed skepticism on Sunday that U.S. lawmakers seeking to avoid another government shutdown could reach a deal on border security that he would accept, as he renewed his vow to build a wall on the southern bord... More »
CARACAS (Reuters) – Venezuelan opposition leader and self-declared president Juan Guaido has asked British authorities to stop President Nicolas Maduro gaining access to gold reserves held in the Bank of England, according to letters released by his party on S... More »
SHANGHAI (Reuters) – U.S. payments card company Mastercard Inc said on Friday it still plans to apply for a bankcard clearing license in China and was in “active discussions” to explore solutions. Mastercard “continues to make every effort to secure the requis... More »
NEW YORK (Reuters) – Mark Mitchell, the co-founder of Starboard Value LP who helped turn it into one of Wall Street’s most high-profile activist hedge funds, retired from the New York-based firm earlier this month, people familiar with the matter said on Frida... More »
NEW YORK (Reuters) – U.S. pension funds are projected to shift $12 billion into bonds from stocks in a rebalancing of their investments at the end of January, amid a rebound in the stock market following a sharp sell-off in late 2018, Wells Fargo Securities an... More »
LONDON (Reuters) – European Council President Donald Tusk and European Commission President Jean-Claude Juncker have written a letter to British Prime Minister Theresa May setting out assurances about the so-called Northern Ireland backstop. Below is a copy to... More »
(Reuters) – Investment bank Perella Weinberg Partners plans to name Peter Weinberg as its chief executive officer with current CEO Robert Steel set to become the company’s chairman, a person familiar with the matter told Reuters on Thursday. Weinberg founded t... More »
BOSTON (Reuters) – Saba Capital’s Tail Hedge Master Fund, which promises a sort of doomsday insurance through bets that perform well when markets spiral, ended 2018 with a 25 percent gain, a person familiar with the fund’s returns said on Tuesday. For years, B... More »
NEW YORK (Reuters) – Investors pulled $98 billion from U.S.-based stock funds in December, a calendar-month record that emphasizes the diminishing goodwill in financial markets, preliminary Lipper estimates showed on Thursday. Fund investors trimmed their risk... More »
LONDON (Reuters) – Prime Minister Theresa May’s Brexit deal can be passed by the British parliament if the European Union provides clarification that the Northern Irish “backstop” will be temporary, foreign minister Jeremy Hunt said on Friday. The backstop is ... More »
NEW DELHI (Reuters) – India’s Prime Minister Narendra Modi is considering three options for a relief package to help farmers suffering because of low crop prices at a cost of as much as 3 trillion rupees ($42.82 billion), according to three government sources.... More »
BEIJING (Reuters) – China’s internet regulator said on Friday the recently published rules governing financial information providers are aimed at firms supplying information to an institutional audience and to specific investors, rather than the general public... More »
WASHINGTON (Reuters) – Most financial market credit officers surveyed by the Federal Reserve in November said their big clients were exposed to emerging markets but were scaling back bets emerging market assets would rise in value, the U.S. central bank said o... More »
NEW YORK (Reuters) – U.S. fund investors eased into wild stock markets during the latest week, adding $5.2 billion, according to Lipper data on Thursday that reflected the first net positive flows for funds since December’s selloff began. Stock exchange-traded... More »
WILMINGTON, Del (Reuters) – As Venezuela collapses, one little-known U.S. investment fund is poised to win big from litigation against its socialist government: Tenor Capital Management. Since 2012, the New York firm has invested $76 million in Canadian mining... More »
NEW YORK (Reuters) – Greg Jensen, co-chief investment officer of Bridgewater Associates, the largest hedge fund in the world, is forecasting “significantly weaker, near-recession-level growth” next year. In a telephone interview on Thursday, Jensen said Bridge... More »
LUXEMBOURG (Reuters) – The European Union’s top court ruled on Monday that the British government may reverse its decision to leave the bloc without consulting other member states in a decision welcomed by those campaigning to stop Brexit. In an emergency judg... More »
TORONTO/BEIJING (Reuters) – A top executive of Chinese tech giant Huawei Technologies is due back in a Canadian court on Monday where she’ll fight for her freedom with the help of pressure from Beijing against prosecutors’ claims she cannot be trusted. Huawei ... More »
TORONTO (Reuters) – A top executive of China’s Huawei Technologies Co Ltd [HWT.UL] argued that she should be let out on bail while awaiting an extradition hearing due to severe hypertension and fears for her health while incarcerated in Canada, court documents... More »
WASHINGTON/NEW YORK (Reuters) – U.S. prosecutors said on Friday President Donald Trump directed his personal lawyer to make illegal hush payments to two women ahead of the 2016 election, and also detailed a previously unknown attempt by a Russian to help the T... More »
NEW YORK/SAN FRANCISCO, (Reuters) – Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial ... More »
VANCOUVER/LONDON (Reuters) – Huawei Technologies Co Ltd’s chief financial officer faces U.S. accusations that she covered up her company’s links to a firm that tried to sell equipment to Iran despite sanctions, a Canadian prosecutor said on Friday, arguing aga... More »
(Reuters) – A union-backed bank employee rights group is complaining after Wells Fargo & Co declined to meet with members last week, according to a letter sent to Chief Executive Tim Sloan viewed exclusively by Reuters. Members of the group, Committee for Bett... More »
NEW YORK (Reuters) – BlackRock Inc’s (BLK.N) Rick Rieder is buying longer-term bonds because softening inflation could force the U.S. Federal Reserve to pause interest rate hikes, the top fixed-income investor told Reuters this week. Rieder, who is chief inves... More »
WASHINGTON (Reuters) – U.S. Supreme Court justices on Monday appeared reluctant to further limit the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who h... More »
(Reuters) – U.S. chipmaker Qualcomm Inc (QCOM.O) rejected a suggestion by the White House that its collapsed $44 billion acquisition of Dutch peer NXP Semiconductors (NXPI.O) could be revived, saying the deal had been terminated as the deadline had expired. Qu... More »
LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years... More »
LONDON (Reuters) – British Prime Minister Theresa May said she would still be in her job in two weeks time, downplaying speculation that she might resign if she loses a key Brexit vote in parliament which is scheduled for Dec. 11. “I will still have a job in t... More »
(Reuters) – Investment bank Moelis & Co said on Monday it has hired an executive from the world’s largest index fund manager, BlackRock Inc, as well as a hedge fund professional, for its team advising companies facing activist shareholders. Ted Moon, who had b... More »
MIT NAMA (Reuters) – When Houaida Mabrouk heard about a government campaign that offers free hepatitis C screenings, she hesitated, afraid of testing positive. But after many from her community started visiting health clinics to get checked, she changed her mi... More »
HONG KONG/NEW YORK (Reuters) – Tencent Music Entertainment launched its hotly-anticipated U.S. initial public offering (IPO) of up to $1.2 billion on Monday after global stock markets were boosted by a truce brokered by U.S. and Chinese leaders in their trade ... More »
JOHANNESBURG (Reuters) – Thousands turned out on Sunday for a concert in Johannesburg to honor the life of Nelson Mandela, with Beyonce leading an all-star line-up. The event, held to mark 100 years since the birth of South Africa’s first black president, was ... More »
MILAN/NEW YORK (Reuters) – U.S. fund Pacific Investment Management Co (Pimco) has bought all of a $3 billion, five-year bond offered with a hefty return by Italy’s top bank UniCredit (CRDI.MI) to comply with capital buffer rules, two sources familiar with the ... More »
BRUSSELS (Reuters) – Euro zone banks which issued large amounts of loss-absorbing debt under English law could have more time to meet requirements after Britain leaves the European Union, the bloc’s agency responsible to winding down failing lenders said on Th... More »
NEW YORK (Reuters) – Facebook Inc (FB.O) and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareho... More »
(Reuters) – Wells Fargo & Co (WFC.N) is exploring a sale of its Eastdil Secured real-estate division, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The U.S. bank has been weighing a sale of Eastdil, which provides financ... More »
SHANGHAI (Reuters) – China’s five state-backed mutual funds, launched during the 2015 crash to rescue the market, sat on their hands last quarter when shares slumped roughly a tenth amid trade war concerns, analysts said on Monday. The apathy, captured in thei... More »
(Reuters) – French IT services company Atos (ATOS.PA) is boosting its North American operations with a $3.4 billion cash deal to buy Michigan-based IT services provider Syntel Inc (SYNT.O). Atos’ shares traded 7 percent lower by 1020 GMT on Monday on disappoin... More »
BOSTON (Reuters) – Top asset manager BlackRock Inc (BLK.N) has hired Ray Cameron as head of the Americas within its investment stewardship arm, according to a memo seen by Reuters on Thursday, turning to an outsider to fill the role left vacant since last year... More »
NEW YORK (Reuters) – Erik Cetrulo, a former portfolio manager at Steven Cohen’s Point72 Asset Management, is raising funds for a global macro discretionary hedge fund and is targeting a launch in the first quarter of 2019, two sources familiar with the situati... More »
LONDON (Reuters) – British Prime Minister Theresa May moved to reassert her authority on Tuesday after two top cabinet members quit and launched broadsides against her Brexit plans, winning support from many of her ministers including a leading eurosceptic. Ma... More »
ZURICH (Reuters) – Credit Suisse has carved out a new role to lead its handling of sexual harassment claims and examine group-wide policies, as Switzerland’s second-biggest bank seeks to boost equal opportunities and create a fair treatment environment. The ap... More »
SHANGHAI (Reuters) – Renowned global hedge fund managers Bridgewater Associates LP and Winton Group Ltd have had registrations to launch products in China accepted at a time of turbulence in capital markets, reflecting a change in the government’s stance towar... More »
PARIS (Reuters) – Societe Generale (SOGN.PA) will buy Commerzbank’s (CBKG.DE) derivatives and asset management businesses in a move the French bank said will boost its Lyxor funds division and raise its profile in Germany, the euro zone’s biggest economy. Stil... More »
(Reuters) – London-based investment firm Centricus has partnered with Chinese firms China Merchants Group and SPF Group to launch a 100 billion Chinese yuan ($15.11 billion) fund to invest in technology companies, the three companies said on Sunday. The fund w... More »
SOFIA (Reuters) – Bulgaria aims to join the EU’s banking union on the same day it enters the “waiting room” for euro zone membership, where it must spend at least two years before joining the single currency, its prime minister said on Friday. Boyko Borissov s... More »
BRUSSELS (Reuters) – The following is the text agreed on by EU leaders on euro zone economic integration:In line with the Leaders’ Agenda and the outcome of its December 2017 meeting, welcoming national contributions, including the one presented by France and ... More »
SYDNEY (Reuters) – The ongoing public inquiry into the scandal-ridden Australian finance sector is too narrow in scope, a politician who had campaigned for the so-called Royal Commission said during hearings on Tuesday. The complaint from Bob Katter, a lower h... More »
LONDON (Reuters) – European Union regulators are “very wide of the mark” in judging that banks in Britain are unprepared for the risk of Britain leaving the EU without a transition deal, the head of Britain’s Financial Conduct Authority said on Tuesday. Speaki... More »
BERLIN (Reuters) – Chancellor Angela Merkel’s agreement with French President Emmanuel Macron on euro zone reforms does not violate the coalition agreement, as some Bavarian conservatives have suggested, an aide to the German leader said. Chancellery Minister ... More »
BOSTON (Reuters) – Some small investors who want to give a piece of their minds to big tech company directors are losing their only chance: many board members are skipping annual shareholder meetings. Companies that hold meetings online have some of the worst ... More »
HONG KONG (Reuters/IFR) – Chinese smartphone and connected device maker Xiaomi plans to raise up to 30 percent of its blockbuster $10 billion IPO by selling shares in mainland China while offering the remainder in Hong Kong, said people with knowledge of the m... More »
LONDON/PARIS (Reuters) – Carmakers including Renault, Jaguar Land Rover and Peugeot have boosted revenues by over $1 billion in the past decade by using sophisticated pricing software, according to sales presentations prepared by the software vendor, Accenture... More »
LONDON (Reuters) – Hedge funds are split on how to position billions of dollars in bets they have taken on Italian banks as the country’s political tumult takes its toll on bonds, shares and the euro. Although hedge funds have a combined 1 billion euro ($1.2 b... More »
BEIJING (Reuters) – A publicity stunt featuring a Mao Zedong lookalike at a conference on blockchain in China on Monday sparked an uproar on social media, with some users saying the “shameful” disrespect to the founding leader could hurt the industry’s image. ... More »
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, a person with knowledge of the matter said on Wednesday. The German bank’s supervisory board met on Wednesday... More »
SINGAPORE (Reuters) – Ride-hailing firm Grab will partner with Malayan Banking Bhd (Maybank), Malaysia’s biggest bank, to drive the usage and adoption of its GrabPay mobile wallet, the companies said in a statement on Monday. Grab, which received its e-money l... More »
KUALA LUMPUR (Reuters) – Amid mounting suspense in Malaysia, former leader Najib Razak is expected to give a statement to an anti-graft agency on Tuesday explaining what he knew about $10.6 million transferred into his bank account from a unit of a state fund ... More »
SAO PAULO (Reuters) – Rampant corruption scandals and a deep recession soured many foreign investors on Brazil in recent years, but one Canadian group saw opportunity. Brookfield Asset Management Inc and its subsidiaries have made nearly a dozen major acquisit... More »
NEW YORK (Reuters) – U.S. small-cap stocks look poised to extend a breakout rally, especially if oil prices advance deeper into levels last seen in 2014 to drive further gains in the small energy companies that have provided leadership in recent week, analysts... More »
BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) recommended on Friday that investors vote against Tesla Inc (TSLA.O) directors Antonio Gracias and James Murdoch, increasing pressure on the car maker over their roles on its board. ISS ... More »
BOSTON (Reuters) – Several socially conscious investment firms are selling or rethinking their Facebook Inc holdings, unsatisfied by the company’s moves to strengthen personal data protection and online safety after scandals involving the improper sharing of u... More »
BEIJING (Reuters) – China’s property investment growth slowed in April while sales marked their biggest fall in six months as higher borrowing costs and increased curbs on buyers weighed on demand, backing views that a key driver of the economy is losing some ... More »
LONDON (Reuters) – The shipping industry has long been criticized by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. Now, it is being called to account from a quarter that may have a bit more clo... More »
SYDNEY (Reuters) – Damaging revelations of widespread misconduct in Australia’s banking sector could hurt house price growth and household spending, the country’s central bank said on Tuesday in a fresh signal that rates will stay at record lows for some time.... More »
WASHINGTON/NEW YORK (Reuters) – The Trump administration is considering expanding Medicare’s ability to negotiate the cost of drugs by giving private payers a role in setting the price of medicines administered in hospitals and doctors’ offices, Health and Hum... More »
(Reuters) – (This May 9 story has been refiled to correct name of organization to “Catholic Health Initiatives” from “Catholic Health Services” in thirteenth paragraph.) A majority of Sturm Ruger & Co investors on Wednesday voted to support a call for the gun ... More »
BOSTON (Reuters) – Wells Fargo & Co on Thursday said a cap on the bank’s growth imposed by regulators after sales practices scandals would hurt earnings less than it thought this year, and forecast 2019 expenses below Wall Street expectations. Analysts were up... More »
SEOUL (Reuters) – Samsung Securities Co Ltd (016360.KS) said on Monday it would file criminal complaints against its employees who sold shares that they received by mistake. The brokerage’s accidental issuance of 2.8 billion shares to employees – more than 30 ... More »
OMAHA, Neb. (Reuters) – Billionaire Warren Buffett has been buying a boatload of Apple Inc shares and on Saturday suggested he would buy even more shares at the right price. At Berkshire Hathaway Inc’s annual shareholder meeting, Buffett credited Apple with de... More »
(Reuters) – Apple Inc’s stock hit an all-time high on Friday after Warren Buffett’s Berkshire Hathaway Inc disclosed it bought an additional 75 million shares of the iPhone maker in the first three months of the year. Buffett’s increased stake, which was confi... More »
(Reuters) – Wells Fargo & Co said on Friday it will pay $480 million to resolve a securities fraud lawsuit related to a sales scandal that surfaced in 2016. The class action lawsuit in the District Court for the Northern District of California alleged that the... More »
(Reuters) – Deutsche Bank AG will shift its New York headquarters from Wall Street to a location midtown, at a time when Germany’s largest bank is scaling back its U.S. operations. The bank will relocate to One Columbus Circle from 60 Wall Street, according to... More »
HONG KONG/LONDON (Reuters) – HSBC Holdings PLC’s (HSBA.L) new chief executive sought to cheer investors with a share buyback of up to $2 billion, even as the bank reported on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in... More »
PARIS (Reuters) – BNP Paribas (BNPP.PA), France’s biggest bank, reported a 17 percent decline in quarterly net profit, in line with expectations, as a weaker dollar and sluggish fixed income trading impacted investment banking revenues. First-quarter net incom... More »
(Reuters) – Berkshire Hathaway Inc bought 75 million additional Apple Inc shares in the first three months of the year, CEO Warren Buffett told CNBC on Thursday, aggressively ramping up its bets on the iPhone maker. Buffett’s Apple commitment over the past two... More »
BEIJING (Reuters) – Chinese billionaire Jack Ma’s financial technology unicorn Ant Financial Services Group [ANTFIN.UL] is adding two new money market funds to its online wealth management platform Yu’e Bao, which is already the world’s biggest money market fu... More »
LONDON (Reuters) – Prime Minister Theresa May has asked experts to look into options for a British satellite navigation system to rival the European Union’s Galileo project amid a row over attempts to restrict Britain’s access to sensitive information after Br... More »
NEW YORK (Reuters) – Former New York State Assembly Speaker Sheldon Silver is expected to go to trial on federal corruption charges for the second time on Monday, seven months after an appeals court threw out his earlier conviction and 12-year prison sentence.... More »
