Chinese Premier Li Keqiang speaks during a joint news conference with Portuguese Prime Minister Antonio Costa (not pictured) at the Great Hall of the People in Beijing, China, October 9, 2016. REUTERS/Naohiko Hatta/Pool China’s economy performed better than ex... More »
Nobel Prize-winning economist Joseph Stiglitz attends a keynote presentation during CLSA investors conference in Hong Kong, China September 19, 2016. REUTERS/Bobby Yip Nobel Prize-winning economist Joseph Stiglitz predicted in a interview out on Wednesday that... More »
A man stands next to an electronic board showing stock prices in Tokyo, Japan, August 18, 2016. REUTERS/Kim Kyung-Hoon Major U.S. stock indexes gained on Wednesday, boosted by financial shares amid encouraging economic data and by the energy sector as oil pric... More »
Jeroen Dijsselbloem participates in a discussion on the global economy during the World Bank/IMF Annual Meeting in Washington October 9, 2014. REUTERS/Joshua Roberts The fine proposed by the United States for Deutsche Bank is too big and undermines financial s... More »
Greek and EU flags flutter at an open air kiosk in Athens, Greece, June 22, 2015. REUTERS/Yannis Behrakis Euro zone finance ministers are likely to approve on Monday the disbursement of much or all of the money from the 2.8 billion euro ($3.14 billion) tranche... More »
European Central Bank (ECB) President Mario Draghi addresses the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium September 26, 2016. REUTERS/Yves Herman European Central Bank interest rates will stay low until euro zone econo... More »
European Central Bank (ECB) President Mario Draghi leaves an elevator after a meeting with German lawmakers in Berlin, Germany, September 28, 2016. REUTERS/Axel Schmidt Euro zone inflation could approach the ECB’s target by late 2018 or early 2019 and so far t... More »
Euro coins are seen in front of a displayed Greece flag in this picture illustration, June 29, 2015. REUTERS/Dado Ruvic/File Photo Euro zone finance ministers gave Greece a positive review of its reforms on Monday but divided up the latest tranche of aid to At... More »
U.S. fund manager Franklin Templeton said on Monday it was launching a new global currency fund headed by its star bond investor Michael Hasenstab and one of his chief lieutenants. More »
Models of residential buildings are seen at a sales center in Zhengzhou, Henan province, China, September 23, 2016. Picture taken September 23, 2016. REUTERS/Yawen Chen/File Photo Four Chinese cities have announced new restrictions on property purchases as the... More »
Benoit Coeure, member of the Executive Board of the European Central Bank (ECB), attends a Lamfalussy Lectures Conference in Budapest, Hungary, February 1, 2016. REUTERS/Laszlo Balogh The euro zone risks falling into a trap of low growth and low interest rates... More »
European Central Bank (ECB) President Mario Draghi waits to address the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium, June 21, 2016. REUTERS/Francois Lenoir/File Photo Economic imbalances within the euro zone risk destabil... More »
Marines patrol a polling station during municipal elections in Sao Luis, Brazil, October 2, 2016. REUTERS/Ueslei Marcelino Brazilian political parties implicated in the massive Petrobras corruption scandal, including that of President Michel Temer, suffered ma... More »
The BlackRock logo is seen outside of its offices in New York January 18, 2012. B REUTERS/Shannon Stapleton/File Photo BlackRock Inc (BLK.N), the world’s largest asset manager, will offer infrastructure funds for the first time through independent financial ad... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Thursday that investors sh... More »
Wells Fargo CEO John Stumpf testifies before the House Financial Services Committee on Capitol Hill in Washington, DC, U.S. September 29, 2016. REUTERS/Gary Cameron U.S. lawmakers called on Thursday for Wells Fargo & Co chief John Stumpf to resign and a top Ho... More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking Wells Fargo & Co was fined about $24 million on Thursday by federal regulators for alleged violations of the Servicemembers Civil Relief Act, piling more pressu... More »
Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, September 21, 2016. REUTERS/Staff/Remote European and Asian shares retreated on Monday as investors waited to see how Donald Trump wou... More »
Yves Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014. REUTERS/Ralph Orlowski European regulators must tel... More »
A man walks on a logo of the Monte Dei Paschi Di Siena bank in Rome, Italy September 24, 2013. REUTERS/Alessandro Bianchi/File Photo European regulators expect Italian bank Monte dei Paschi di Siena will have to turn to the government for support, three euro z... More »
European Central Bank (ECB) President Mario Draghi attends a news conference at the ECB headquarters in Frankfurt, Germany September 8, 2016. REUTERS/Ralph Orlowski Financial services are shifting away from banks in the euro zone to the so-called ‘shadow banki... More »
U.S. Democratic presidential candidate Hillary Clinton speaks during a campaign event at the Frontline Outreach and Youth Center in Orlando, U.S. September 21, 2016. REUTERS/Carlos Barria Democratic U.S. presidential nominee Hillary Clinton on Thursday propose... More »
The offices of Pacific Investment Management Co (PIMCO) (R) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Global bond yields will rise modestly and spikes in volatility could be more commonplace in the coming years as loose central ... More »
A Hanjin Shipping Co ship is seen stranded outside the Port of Long Beach, California, September 8, 2016. REUTERS/Lucy Nicholson/File Photo All Hanjin Shipping Co Ltd (117930.KS) chartered vessels that have completed unloading their cargo have been told to can... More »
A staff member is seen at Alibaba Group’s new data centre in Zhangbei, Hebei province, China September 11, 2016. China Daily/via REUTERS Strong comments from China’s top state planner that the economy needed more support was most likely aimed at persuading the... More »
Bank of England Deputy Governor Minouche Shafik speaks during the bank’s quarterly inflation report news conference at the Bank of England in London August 13, 2014. REUTERS/Suzanne Plunkett Bank of England deputy governor Minouche Shafik will step down at the... More »
Passersby walk past in front of electronic boards showing Japan’s Nikkei share average (L), the Japanese yen’s exchange rate against the U.S. dollar (C), British pound (R) and Euro (2nd R) outside a brokerage in Tokyo, Japan, July 6, 2016. REUTERS/Issei Kato –... More »
A Hanjin Shipping Co ship is seen stranded outside the Port of Long Beach, California, September 8, 2016. REUTERS/Lucy Nicholson A Hanjin Shipping Co Ltd (117930.KS) vessel is finishing unloading in California and scheduled to leave port on Monday, shipping in... More »
The GlaxoSmithKline building is pictured in Hounslow, west London June 18, 2013. REUTERS/Luke MacGregor/File Photo GlaxoSmithKline is to sell its portfolio of anesthetic drugs to South Africa’s Aspen Pharmacare for up to 280 million pounds ($372 million) as pa... More »
Container vessel Hanjin Rome sits in the eastern anchorage area in Singapore September 9, 2016. REUTERS/Edgar Su The collapse of South Korea’s Hanjin Shipping (117930.KS), the world’s seventh-largest container carrier, has disrupted global trade networks and d... More »
Former Hanjin Shipping (117930.KS) chairwoman Choi Eun-young plans to provide 10 billion won ($9 million) in private funds to Hanjin Shipping, a spokeswoman for Choi said on Monday. More »
A cashier counts Indian rupee currency notes inside a bank in Mumbai August 5, 2013. REUTERS/Danish Siddiqui Eleven of India’s banks will likely be in danger of breaching capital triggers with the coming increases in minimum requirements under new global banki... More »
The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Bond fund manager Bill Gross on Friday said Pacific Investment Management Co and its lawyers should be punished for unfairly imped... More »
A general view shows a construction site in London, Britain July 7, 2016. REUTERS/Neil Hall There is significant money to be made in Europe by investing and lending where local banks cannot, two prominent private fund managers told attendees of a U.S. hedge fu... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 25, 2016. REUTERS/Brendan McDermid U.S. fund investors are bolstering their bets that the Federal Reserve will bypass an interest-rate increase later this month by p... More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem gestures during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir Fighting tax avoidance should be a cornerstone of a push by EU authoritie... More »
Russian President Vladimir Putin and U.S. President Barack Obama discussed the conflicts in Syria and Ukraine at their meeting on the sidelines of the Group of 20 summit in China’s Hangzhou, Russian media cited the Kremlin spokesman as saying on Monday. More »
Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan, July 29, 2016. REUTERS/Kim Kyung-Hoon Bank of Japan Governor Haruhiko Kuroda signaled his readiness to ease monetary policy further using existing o... More »
A crane carries a container from a ship of Hanjin Shipping at Hanjin container terminal at the Busan New Port in Busan, about 420 km (261 miles) southeast of Seoul in this August 8, 2013 file photo. REUTERS/Lee Jae-Won/File Photo Troubled container shipper Han... More »
A Greek flag flutters in the wind as tourists visit the archaeological site of the Acropolis hill in Athens, Greece July 26, 2015. REUTERS/Ronen Zvulun/File Photo The euro zone will not release additional bailout money for Greece at a meeting in Bratislava thi... More »
FILE PHOTO — The logo of Brazil’s largest fixed-line telecoms group Oi is seen inside a shop in Sao Paulo October 2, 2013. REUTERS/Nacho Doce/File Photo Brazilian telecom provider Oi SA is set to file its bankruptcy reorganization plan with a Rio de Janeiro co... More »
New Jersey Governor Chris Christie poses for a photo with convention goers at the Republican National Convention in Cleveland, Ohio, U.S. July 19, 2016. REUTERS/Mario Anzuoni New Jersey Governor Christie said on Friday the state would begin taxing income earne... More »
Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., August 30, 2016. REUTERS/Lucas Jackson The party looked to be waning for some popular investments in the latest week, with investors trimming expo... More »
Japan’s Prime Minister Shinzo Abe (L) and Kenya’s President Uhuru Kenyatta attend a news conference following bilateral talks at State House in Kenya’s capital Nairobi, August 28, 2016. REUTERS/Thomas Mukoya Japan will give Kenya 1 billion yen ($9.78 million) ... More »
A woman walks past an advertisement promoting an apartment complex which is currently under construction in Yongin, South Korea, August 24, 2016. REUTERS/Kim Hong-Ji In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gle... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 23, 2016. REUTERS/Brendan McDermid Investors trimmed risk assets before a gathering of central bankers on Friday, pulling $6.4 billion from U.S.-based stock funds in... More »
A graduate wears a houndstooth ribbon on her graduation cap during the University of Alabama commencement ceremony at Coleman Coliseum in Tuscaloosa, Alabama, August 6, 2011, in honor of fellow students who were killed in a devastating April 27, 2011 tornado. ... More »
FRANKFURT Britain’s vote to leave the European Union should have limited immediate economic impact on Germany, the country’s central bank said on Monday, noting the mood among enterpreneurs remained positive. The Bundesbank expects the German economy to have c... More »
TOKYO Japan’s Ministry of Finance is negotiating with the country’s major banks to lend to the government at a zero interest rate in auctions beginning in October or November, a government official familiar with the procedure said on Monday. The government has... More »
By Marc Jones | LONDON LONDON World shares set up camp at one-year peaks on Monday as a rally in Chinese stocks helped offset news that Japan’s economic growth had ground to a halt last quarter, while oil prices extended their latest rally. Europe’s main bours... More »
By Anthony Boadle | RIO DE JANEIRO RIO DE JANEIRO Forget beach volleyball, soccer or tennis, not to mention the steeplechase or discus. Pokemon Go is challenging the Olympics for most popular game among some young Brazilians. Hundreds of them turned out in a R... More »
NEW YORK The U.S. economy is on track to grow at a 3.5 percent annualized rate in the third quarter following weaker-than-expected data on retail sales in July, the Atlanta Federal Reserve’s GDP Now forecast model showed on Friday. The latest third-quarter GDP... More »
By Trevor Hunnicutt | NEW YORK NEW YORK Investors reversed course and poured money into even the riskiest bonds in the latest week, for inflows into U.S.-based high-yield bond funds of $1.7 billion after two straight weeks of outflows, Lipper data showed on Th... More »
LONDON World shares hovered close to one-year highs on Thursday as oil prices dropped for a third straight day and the latest interest rate cut in a developed market – this time New Zealand – got a lukewarm reaction from investors. The slip in crude markets le... More »
CAIRO Egypt has reached a preliminary agreement with the International Monetary Fund after nearly two weeks of talks to secure a $12 billion lending program and will make an announcement on Thursday, two government sources said. The sources said no deal had be... More »
BERLIN The German economy lost some growth momentum in the second quarter after a strong performance in the first three months of the year, the Economy Ministry said on Thursday, citing weaker private consumption and weaker-than-expected construction. It added... More »
LONDON Economists from the International Monetary Fund have urged the European Central Bank to concentrate on asset purchases rather than cutting its already negative interest rates again, if it needs to stimulate the euro zone economy again. A blog published ... More »
DOVER, Del. Embattled investor Lynn Tilton defended herself in a Delaware court on Wednesday against allegations that she had not disclosed the complex holdings of $2.5 billion distressed debt funds that she lost control of this year. The flamboyant Tilton tes... More »
NEW YORK A federal appeals court on Wednesday rejected a new bid by five former employees of Bernard Madoff’s firm to overturn their convictions for helping their boss conceal his Ponzi scheme, which cost customers more than $17 billion. The order by the 2nd U... More »
LONDON Alternative investments such as a Ferrari 335 S Scaglietti, a rare blue diamond or a case of Romanee-Conti Grand Cru wine from Burgundy are going mainstream as investors grapple with ultra-low interest rates and volatile stocks. Spooked by the end of a ... More »
LONDON The Bank of England looks ready to cut interest rates for the first time since 2009 on Thursday, seeking to stop Britain’s vote to leave the European Union from kicking the country into recession. It may even go a step further and pump billions of pound... More »
NUSA DUA, Indonesia The Federal Reserve should be cautious on interest rate increases due to lingering risks to the U.S. economy, one of its most influential policymakers said on Monday, appearing to signal the chance of a hike by the end of the year was fadin... More »
NEW YORK Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Friday that many asset classes look frothy and his firm continues to hold gold, a traditional safe-haven, along with gold miner stocks. Noting the recent run-up in the benchmark Stan... More »
MILAN Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s... More »
BRUSSELS Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth. Gross domestic product (GD... More »
FRANKFURT Central banks from Washington to Tokyo take center stage next week, although policymakers are likely to remain cautious as they wait for the dust to settle from Britain’s shock vote to leave the EU. As they wait for political reassurances and greater... More »
SYDNEY Australian inflation likely braked to all-time lows in the second quarter, if analyst forecasts prove right, cementing the case for another cut in interest rates as early as next month. When underlying inflation slowed surprisingly sharply to a record l... More »
BEIJING Borrowing costs and access to funding are the key obstacles to private investment in China, a senior official at the top economic planning agency said on Monday, after private investment growth shrank to a record low. A government spending spree and ho... More »
MADRID Spain’s economy may grow around 2.9 percent in 2016, up from the current official target of 2.7 percent, although 2017 could come under pressure due to lower global growth, acting Economy Minister Luis de Guindos said on Sunday. “New macroeconomic proje... More »
NEW YORK U.S. interest rates futures fell on Friday but traders still saw less than a 50 percent probability the Federal Reserve would raise interest policy rates by year-end amid concerns about the global economy and possible stimuli from overseas central ban... More »
FRANKFURT The European Central Bank kept interest rates unchanged on Thursday but left the door open to more policy stimulus, highlighting “great” uncertainty and abundant risks to the economic outlook. Signalling a readiness to act, ECB President Mario Draghi... More »
FRANKFURT European Central Bank President Mario Draghi said on Thursday events in Turkey since the coup attempt may impact economic sentiment in the euro zone. “It is very difficult to see how these geopolitical events will affect the (euro zone) economy,” he ... More »
ANKARA The Turkish economy will not suffer permanently from Friday’s failed coup attempt despite a short-lived, downward impact on growth, Deputy Prime Minister Mehmet Simsek said on Monday. Simsek said Turkey’s macroeconomic fundamentals were solid and the go... More »
BEIJING China has room to increase its fiscal deficit ratio to between 4 and 5 percent to more effectively boost the economy, official media quoted a central bank official as saying. China’s current fiscal deficit target is 3 percent of gross domestic product ... More »
NEW YORK Just as mortgage bankers were preparing for the end of a historic boom driven by low interest rates, borrowers have begun knocking at their doors again. In earnings reports last week, JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and Citigroup... More »
JAKARTA The Indonesian government will start the implementation of its tax amnesty program on Monday, more than two weeks after parliament passed the law in an effort to bring home funds stashed abroad, a tax official said. The country’s finance minister will ... More »
FRANKFURT European Central Bank President Mario Draghi is likely to plead for governments to do more to boost the euro zone’s economy in the coming week as the fallout of Britain’s vote to leave the EU and weaker global growth threaten the bloc’s fragile recov... More »
NEW YORK A BlackRock exchange-traded fund that tracks long-dated U.S. Treasuries was poised for its biggest weekly loss in 13 months as a rebound in stock markets worldwide stoked a sharp sell-off in U.S. government debt. BlackRock’s iShares 20-Plus Year Treas... More »
PARIS European Commissioner Pierre Moscovici said on Wednesday Spain and Portugal could see possible fines for breaching budget deficit rules set at zero if they provide sufficient guarantees that they are reining in spending. “It’s possible that these sanctio... More »
SYDNEY A change in interest rates will be on the table at every meeting of the Federal Reserve, but the timing of any move will depend on how the economy performs, a top Fed official said on Wednesday. Answering questions after a speech in Sydney, Federal Rese... More »
WASHINGTON Puerto Rico, the U.S. commonwealth that recently declared a historic default, could be shut out of debt markets for two more years as it battles with fiscal challenges, the island’s governor said on Tuesday. Governor Alejandro Garcia Padilla said em... More »
NEW YORK Availability of U.S. home loans fell in June as some investors stopped making certain type of adjustable-rate mortgages, the Mortgage Bankers Association said on Monday. The Washington-based group’s mortgage credit available index fell 1.3 percent to ... More »
AMSTERDAM Britain will not be able to dictate the terms of a new trade deal to the European Union after it leaves the bloc, the chair of the euro zone finance ministers’ council said, accusing leave campaigner Nigel Farage of “living in his own world.” Farage,... More »
HONG KONG Years of breakneck growth for China’s top insurers has been partly fueled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing economy triggers heavy debt defaults. Industry prem... More »
BEIJING The Asian Infrastructure Investment Bank (AIIB) stressed its independence from China at its first annual meeting on Saturday, saying it plans to cooperate with other development banks and add new members, including Hong Kong. Chinese President Xi Jinpi... More »
NEW YORK Former professional wrestler Hulk Hogan, whose lawsuit against Gawker Media LLC precipitated its bankruptcy, will serve on the committee of unsecured creditors, according to a court filing. The U.S. Trustee, a bankruptcy watchdog, appointed Hogan to t... More »
LONDON Britain’s 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, an upheaval that threatens London’s dominance of finance. The ‘Vote Leave’ campaign fron... More »
NEW YORK Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday his firm sold all of its European equities holdings before the market closed on Thursday, following a strong rally in global stocks. Gundlach, who oversees $100 billion at Los Ang... More »
NEW YORK The British pound could weaken further in the next six months even if it enjoys a temporary rebound, a top BlackRock Inc investment strategist said on Friday after Britain voted to exit the European Union. “Sterling will weaken from here over the next... More »
AMSTERDAM The chair of the council of euro zone finance ministers said on Friday there was no reason to call a meeting of the body following Britain’s vote to leave the European Union. Speaking after a meeting of the Dutch cabinet, Jeroen Dijsselbloem said it ... More »
THE HAGUE The lesson of Britain’s vote to leave the European Union is that the bloc cannot continue along a path of deepened integration or further enlargement, the chair of the council of euro zone finance ministers said on Friday. Speaking before a cabinet m... More »
FRANKFURT The European Central Bank is planning to give euro zone banks non-binding guidance by the end of 2016 or early 2017 to cut their bad debt pile, raising the heat on lenders but not forcing their hand, sources said. The ECB, which supervises 129 of the... More »
ATHENS Greece got more than 7 billion euros in bailout funds on Tuesday after a review of the country’s progress in implementing economic reforms, the head of the euro zone’s bailout fund told reporters in Athens. Greece needs the money to pay off growing stat... More »
LONDON Britain’s Daily Telegraph newspaper came out in favor of quitting the European Union on Monday, urging voters to tick the “Leave” box in a referendum on Thursday. The Telegraph, which has a daily circulation of nearly 500,000, joins The Sun, The Sunday ... More »
LONDON Support for Britain remaining in the European Union stood at 53 percent with support for quitting the bloc at 46 percent, according to a poll by ORB for the Daily Telegraph newspaper. The newspaper said this represented an eight-point net reversal from ... More »
ATHENS Greece could lift most or all capital controls imposed at the height of the euro zone crisis by the end of the year, the head of the country’s banking association said on Saturday. The controls, which restricted the amount of cash that can be withdrawn ... More »
LONDON Britain’s “Leave” campaign opened up a 7-point lead over “Remain” ahead of a referendum on membership of the European Union an opinion poll showed late Monday, while the nation’s biggest-selling newspaper urged readers to vote to quit the bloc. The resu... More »
