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#Financials (Legacy)

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Deutsche Bank drags European shares into worst week since August

The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, February 1, 2018. REUTERS/Staff/Remote MILAN (Reuters) – European shares fell on Friday and were set for their biggest weekly loss in six months as a slump in Deutsch... More »

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Police launch criminal investigation into tire maker Nokian

FILE PHOTO: Nokian tyres are on display at the “Krepost” Toyota dealership in the Siberian city of Krasnoyarsk, Russia August 8, 2014. REUTERS/Ilya Naymushin/File Photo HELSINKI (Reuters) – Finnish police plan to launch a criminal investigation into options tr... More »

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U.S. fund investors ‘buy the dip’ in stock, bond markets

NEW YORK (Reuters) – U.S. fund investors cashed out of cash funds and stocked up on stocks in the latest week, ignoring a setback in markets and taking on more risk, Lipper data showed on Thursday. Relatively low-risk money-market funds recorded $26 billion in... More »

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No daylight between Trump, Mnuchin on dollar: official

DAVOS, Switzerland (Reuters) – There is no difference between President Donald Trump’s attitude to the strength of the U.S. dollar and that of Treasury Secretary Steven Mnuchin, a senior administration official said on Friday. “I don’t think there’s any daylig... More »

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U.S. wage growth, tax-bonuses spark shopping in retail stocks

A woman shops at a Macy’s department store in Roosevelt Field shopping mall in Garden City, New York, U.S., November 24, 2017. REUTERS/Shannon Stapleton NEW YORK (Reuters) – U.S. fund managers are betting that rising wages and the effects of the Republican-led... More »

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Growth at UBS’s U.S. investment lags boss’s ambitions

The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland January 22, 2018. REUTERS/Arnd Wiegmann ZURICH (Reuters) – UBS’s investment banking business in the United States is doing well but lags its boss’s ambitions, he said on Friday. “In o... More »

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U.S. tech stock funds attract most cash since 2000: Lipper

NEW YORK (Reuters) – U.S. technology stock funds took in more cash in the week ended Jan. 24 than in any week since the turn-of-the-century bubble, Lipper said on Thursday, offering further evidence that investors’ wariness about markets has given way to exube... More »

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Exclusive: Commodities fund Jamison Capital to shut – source

NEW YORK/LONDON (Reuters) – Jamison Capital Partners LP, a New York-based macro commodity hedge fund run by former Morgan Stanley trader Stephen Jamison, will shut its nearly $1.5 billion fund by the end of the month, according to a source familiar and an inve... More »

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Two-year race for top ECB jobs start next week

FILE PHOTO: Jens Weidmann, President of German Bundesbank attends the Generation Euro Students’ Award ceremony at the European Central Bank (ECB) headquarters in Frankfurt June 20, 2012. REUTERS/Alex Domanski/File Photo FRANKFURT/BRUSSELS (Reuters) – Euro zone... More »

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Lloyd’s of London to open Brussels unit in early 2019: CEO

Lloyd’s Chief Executive Officer Inga Beale attends an interview in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip HONG KONG (Reuters) – Insurance market Lloyd’s of London [SOLYD.UL], an integral part of the British business scene since the 17th century, ... More »

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New Vanguard CEO Buckley says indexing fosters competition

Vanguard Group CEO Mortimer “Tim” Buckley is pictured in this undated handout photo obtained by Reuters January 11, 2018. Vanguard Group/Handout via REUTERS BOSTON (Reuters) – Vanguard Group Inc’s vast scale helps it promote efficient markets, its new chief ex... More »

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BlackRock CEO Fink shows no signs of entering bitcoin ETF race

FILE PHOTO – Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas Jackson/File Photo NEW YORK (Reuters) – BlackRock Inc (BLK.N) has profited by being beating its... More »

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German property developer Instone targets March IPO: sources

FRANKFURT (Reuters) – German residential property developer Instone Real Estate is targeting a flotation on the Frankfurt stock exchange in March, adding to a growing pipeline of spring listings in Germany, people close to the matter said. The company is worki... More »

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PNC Financial fourth quarter profit more than doubles

(Reuters) – PNC Financial Services Group Inc reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth and the U.S. regional lender also forecast mid-single digit loan and revenue growth for 2018. The... More »

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Uproar over crackdown on cryptocurrencies divides South Korea

A man walks past an electric board showing exchange rates of various cryptocurrencies at Bithumb cryptocurrencies exchange in Seoul, South Korea, January 11, 2018. REUTERS/Kim Hong-Ji SEOUL (Reuters) – With a tech-savvy population quick to adopt the latest gad... More »

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JPMorgan profit beats on higher interest rates- debt trading down

FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky (Reuters) – JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, reported a higher-than-expecte... More »

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PNC Financial profit more than doubles in fourth quarter

(Reuters) – U.S. regional lender PNC Financial Services reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth. The Pittsburgh, Pennsylvania-based bank said on Friday that net income attributable t... More »

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BlackRock profit beats as ETFs attract more investment

FILE PHOTO: A woman walks next to a BlackRock sign pictured in the Manhattan borough of New York, October 11, 2015. REUTERS/Eduardo Munoz (Reuters) – BlackRock Inc (BLK.N) on Friday reported a better-than-expected quarterly profit, as investors flooded into th... More »

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Swiss mountain town Davos relishes its turn in Trump spotlight

The logo of the town is seen in the Swiss mountain resort of Davos, Switzerland, January 11, 2018 REUTERS/Arnd Wiegmann DAVOS, Switzerland (Reuters) – The Swiss Alpine town of Davos is used to celebrities and high-rollers, but even it is relishing the new chal... More »

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India sends its 100th satellite into space to watch borders

NEW DELHI (Reuters) – India launched its 100th satellite on Friday as Prime Minister Narendra Modi seeks to project the country as a global low-cost provider of services in space. A total of 31 small satellites were launched into space on Friday. More than hal... More »

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China’s top developers poised for strong sales as debt woes linger

FILE PHOTO: Apartment blocks are pictured in Beijing, China December 16, 2017. REUTERS/Jason Lee/File Photo HONG KONG (Reuters) – China’s large developers are tightening their hold on the country’s real estate market, capturing an ever-larger share even as sal... More »

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SEC mixes message on Apple shareholder proposals, activists say

FILE PHOTO: A customer looks at her Apple iPhone X at an Apple store in New York, U.S., November 3, 2017. REUTERS/Lucas Jackson/File Photo BOSTON (Reuters) – Apple Inc was allowed to disregard one activist shareholder proposal on greenhouse gas emissions but t... More »

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RBS to pay $125 million to settle California mortgage bond claims

People walk past a branch of the Royal Bank of Scotland in London, Britain December 1, 2017. REUTERS/Peter Nicholls (Reuters) – Royal Bank of Scotland Group Plc will pay $125 million to resolve claims that it made misrepresentations while selling mortgage-back... More »

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Cryptocurrency stocks holding gains despite bitcoin pullback

FILE PHOTO: Sparks glow from broken Bitcoin (virtual currency) coins in this illustration picture, December 8, 2017. REUTERS/Dado Ruvic/Illustration/File Photo NEW YORK (Reuters) – Stocks that surged in recent weeks because of the cryptocurrency mania have man... More »

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Britain’s digital banks: profitable or just popular?

A Monzo card in an undated photo. Courtesy Monzo/via Reuters LONDON (Reuters) – British app-based bank Monzo and others like it want to make money by allowing other firms access to their customers rather than lending to them, but this is an untested path to pr... More »

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FANGtastic stocks top vintage year for global markets

Czech crown banknotes are seen in this picture illustration taken in Prague January 18, 2013. REUTERS/David W Cerny LONDON (Reuters) – A 40 percent surge in world tech stocks, a jump of almost a third in emerging markets and double-digit percentage gains for t... More »

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Bitcoin slips below $14,000, down 30 percent from record peak

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo TOKYO (Reuters) – Cryptocurrency bitcoin tumbled below $14,000 briefly on the Bitstamp exchange BTC=BTSP on Friday, d... More »

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Chilled music: performer makes instruments out of ice

LONDON (Reuters) – While most musicians seek to avoid a frosty reception at concerts, for Norwegian composer and performer Terje Isungset a chilly feeling is nothing to fear: he performs with instruments he makes himself out of ice. A recent performance at Lon... More »

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Hurricane-hit catastrophe bond managers plan new funds

LONDON (Reuters) – Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record for insurance losses fro... More »

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Buwog agrees to be taken over by Vonovia in $6.1 billion deal

The logo of German real estate company Vonovia SE, a member of the German DAX-30 stock market index, is seen at a Vonovia building in Essen, western Germany May 10, 2016. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – Germany’s Vonovia (VNAn.DE) has ... More »

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U.S. taxpayers rush to claim deductions under threat from tax bill

Copies of tax legislation are seen during a markup on the “Tax Cuts and Jobs Act” on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein NEW YORK (Reuters) – Financial advisers and accountants are working overtime as many U.S. taxpa... More »

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Finland lets stores sell stronger drinks, health chiefs complain

HELSINKI (Reuters) – Finnish lawmakers narrowly voted on Friday to let grocery stores sell stronger alcoholic drinks, after months of public debate pitting supporters of drinker’s rights against health campaigners. Shops will be able to sell drinks with an alc... More »

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Bitcoin hits new record high as warnings grow louder

FILE PHOTO: Bitcoin (virtual currency) coins placed on Dollar banknotes, next to computer keyboard, are seen in this illustration picture, November 6, 2017. REUTERS/Dado Ruvic/Illustration/File Photo LONDON (Reuters) – Bitcoin blasted to another all-time high ... More »

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As Republican tax vote nears, more senators waver

FILE PHOTO: Sen. Marco Rubio (R-FL) speaks at a press conference at the Capitol Building in Washington, U.S., September 26, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – President Donald Trump’s drive to win passage of a sweeping Republican tax bill ... More »

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European stocks rally after Brexit, banking rules deals

The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, December 6, 2017. REUTERS/Staff/Remote/File Photo LONDON (Reuters) – European stocks rallied to a week’s high on Friday as Britain and the European Union announced a ... More »

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HSBC beefs up Asia research team with 15 new hires in China

A logo of HSBC is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip HONG KONG (Reuters) – HSBC (0005.HK)(HSBA.L) said on Friday that it had expanded its Asian research team by hiring 15 analysts following the ... More »

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Uber joins forces with global public transport association

People walk past an Uber advertisement outside the Uber main office in Mandaluyong city, metro Manila, Philippines August 15, 2017. REUTERS/Dondi Tawatao BRUSSELS (Reuters) – Ride-hailing app Uber [UBER.UL] said on Monday it was joining a global public transpo... More »

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Advisory firms split on Deckers’ proxy contest vote

(Reuters) – Two proxy advisory firms on Friday weighed in on one of the year’s most bitter proxy battles with one backing UGG boot maker Deckers’ management and the other giving partial support to activist hedge fund Marcato Capital Management. Shareholders wi... More »

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Political risk on Wall Street? Buy the dip!

Traders watch, as a television displays the news about former U.S. national security adviser Michael Flynn, at the New York Stock Exchange, (NYSE) in New York, U.S., December 1, 2017. REUTERS/Brendan McDermid SAN FRANCISCO (Reuters) – An abrupt stock selloff o... More »

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China cracks down on online micro-lending firms with new rules

BEIJING (Reuters) – China’s financial regulators on Friday circulated new rules to local governments targeting a rampantly growing online micro-lending sector, part of a campaign to rein in its rapidly developing financial sector. A top-level multi-ministry bo... More »

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U.S.-listed Chinese financial firms drop as China sets new rules

The Qudian app logo is seen on a smartphone in an illustration photo taken in Beijing, China December 1, 2017. REUTERS/Jason Lee/Illustration (Reuters) – U.S.-listed shares of Chinese financial firms slipped in premarket trade on Friday after Reuters reported ... More »

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Bodenholm and Westray reveal media stock shorts on changing viewers

LONDON (Reuters) – European hedge funds Bodenholm Capital and Westray Capital Management revealed they had taken short selling positions on some media companies, bets that their stock prices will fall, on the back of changing consumer habits. Online services l... More »

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New U.S. tax law could curb charitable donations

FILE PHOTO – Volunteers sort donated clothes for Caribbean refugees whose homes were destroyed by Hurricane Irma, at a convention centre in San Juan, Puerto Rico September 14, 2017. The hashtag on the sign reads “Puerto Rico embraces you.” REUTERS/Alvin Baez N... More »

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Factbox: What is the U.S. Consumer Financial Protection Bureau?

(Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) has been thrown into disarray by a battle between the White House and Obama-era officials over who gets to run the federal watchdog on an interim basis after its director resigned. Outgoing direc... More »

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U.S. consumer watchdog agency official sues to block Trump’s pick

Office of Management and Budget Director Mick Mulvaney attends the daily briefing at the White House in Washington, U.S., July 20, 2017. REUTERS/Carlos Barria WASHINGTON (Reuters) – A senior U.S. Consumer Financial Protection Bureau official filed suit late on... More »

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U.S. consumer finance agency official sues to stop Trump appointment

File Photo – Office of Management and Budget Director Mick Mulvaney waits to testify before a Senate Budget Committee hearing on FY2018 Budget Proposals on Capitol Hill in Washington, U.S., May 25, 2017. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The deputy di... More »

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Bottas makes Hamilton settle for second in F1 finale

Formula One – Abu Dhabi Grand Prix – Yas Marina circuit, Abu Dhabi, United Arab Emirates – November 26, 2017 Mercedes’ Valtteri Bottas celebrates with the trophy after winning the race REUTERS/Hamad I Mohammed ABU DHABI (Reuters) – Valtteri Bottas won the Abu ... More »

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Hamilton recognizes title affected his performance

Formula One – F1 – Abu Dhabi Grand Prix – Yas Marina Circuit, Abu Dhabi, United Arab Emirates – November 26, 2017. British Formula One driver Lewis Hamilton of Mercedes AMG GP crosses the finish line. REUTERS/Valdrin Xhemaj/Pool ABU DHABI (Reuters) – Lewis Ham... More »

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Succession battle at U.S. financial agency seen headed to courts

Office of Management and Budget Director Mick Mulvaney attends the daily briefing at the White House in Washington, U.S., July 20, 2017. REUTERS/Carlos Barria WEST PALM BEACH, Fla./WASHINGTON (Reuters) – A battle between the White House and Democrats over warr... More »

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Justice Department says White House may name new consumer watchdog

WASHINGTON (Reuters) – The White House may name an acting director of the Consumer Financial Protection Bureau, the Justice Department said in a memo on Saturday that endorsed an action by the Trump administration. “The President may designate an Acting Direct... More »

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Uber to disclose price on SoftBank deal early next week: sources

FILE PHOTO: A man arrives at the Uber offices in Queens, New York, U.S., February 2, 2017. REUTERS/Brendan McDermid/File Photo SAN FRANCISCO/NEW YORK (Reuters) – Uber Technologies Inc [UBER.UL] plans to move ahead with a deal to bring in Japanese technology co... More »

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France cuts cost of sacking traders to lure banks post-Brexit

A general view shows the Arc de Triomphe and the financial and business district in La Defense, west of Paris, France November 22, 2017. REUTERS/Gonzalo Fuentes PARIS (Reuters) – The French parliament has approved measures to cut the cost of sacking traders by... More »

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Finland baker launches bread made from crushed crickets

The first mass-delivered bread made of insects are seen at the Finnish food company Fazer bakery in Helsinki, Finland November 23, 2017. REUTERS/Attila Cser HELSINKI (Reuters) – Finnish bakery and food service company Fazer launched on Thursday what it said wa... More »

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Lyft raises another $500 million in additional round of funding

(Reuters) – Uber rival Lyft Inc is raising an additional $500 million in funding, according to a U.S. share authorization document filed in Delaware news website Axios said. (bit.ly/2BhebbU) The additional funding round, led by Alphabet Inc’s CapitalG, is an e... More »

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Flat profit gives Angry Birds maker’s shares the blues

An employee works inside an office of Rovio, the company which created the video game Angry Birds, in Shanghai June 20, 2012. REUTERS/Aly Song/Files HELSINKI (Reuters) – Angry Birds maker Rovio Entertainment (ROVIO.HE) fell short of market expectations for qua... More »

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Vanguard’s Davis makes case for index funds even in tough times

BOSTON (Reuters) – The rush of money into big index funds has raised concerns about whether they would still prove attractive in a downturn, an issue taking on more importance especially for industry leader Vanguard Group Inc as its passive products soar in sc... More »

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Paris watchdog win bolsters its fight for Brexit banks

A general view shows the aerial subway and the city rooftops in Paris February 24, 2015. REUTERS/Gonzalo Fuentes PARIS/LONDON (Reuters) – The surprise decision to move the European Banking Authority to Paris will boost its chances of attracting London banks af... More »

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As many Venezuela bondholders stampede, some joust for advantage

NEW YORK/LONDON/CARACAS (Reuters) – Venezuela’s efforts to restructure its debt may have triggered an initial stampede for the exits, but some investment funds are maintaining their portfolios or even beefing them up, betting that other investors’ distress cou... More »

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Factbox: From tax to budget, what’s on U.S. Congress to-do list

(Reuters) – The U.S. Congress is hurtling toward some major tax, budget and other policy deadlines. Some are hard and some are flexible, with the end of 2017 approaching. Here is the Capitol Hill outlook for what promises to be a turbulent November-December. W... More »

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Top EU lawmaker tells ECB to drop bad loans plan

The European Central Bank should scrap plans for industry-wide rules to force banks to clean up bad loans, the head of the European Parliament's influential economic affairs committee said on Friday, as lawmakers dug in their heels in a dispute. More »

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Dueling Republican tax plans advance in Congress

U.S. Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives' version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax. More »

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LSE to hold vote on investor`s call to oust chairman

London Stock Exchange Group (LSE.L) will fix a date within three weeks for a shareholder vote on the removal of Chairman Donald Brydon and retention of CEO Xavier Rolet at the behest of activist investor TCI Fund Management, it said on Friday. More »

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Proxy advisers back Vanguard, smoothing path in fund votes

Proxy advisers Institutional Shareholder Services and Glass Lewis & Co each recently backed Vanguard Group Inc's management on fund trustee nominees and administrative items set for a rare shareholder vote next week, according to recommendations seen by Reuter... More »