By Seher Dareen (Reuters) – Gold dipped on Friday in a volatile week that saw bullion prices north of the key $2,000 figure as bank contagion fears bolstered both safe-haven demand and bets on a pause in Federal Reserve rate hikes. The U.S. dollar rose about 0.5%, making the greenback-priced gold more expensive among overseas …
Gold eases from key $2,000 level as dollar firms Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower on Friday as European banking shares fell and after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years, dampening demand prospects. Brent crude settled down 92 cents, or 1.2%, to $74.99. West Texas Intermediate U.S. crude futures fell 70 …
Oil settles down on worries over European banks, U.S. crude reserve Read More »
By Hannah Lang WASHINGTON (Reuters) – The euro and sterling fell sharply against a strengthening dollar on Friday amid lingering nervousness over banks. Banking stocks plunged in Europe with heavyweights Deutsche Bank and UBS Group pummelled by worries that the worst problems to hit the sector since the 2008 financial crisis have not yet been …
Dollar outshines euro, sterling amid European bank jitters Read More »
LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs ($17.5 billion) of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS. Under the deal, holders of Credit Suisse AT1 …
Explainer-Why markets are in uproar over a risky bank bond known as AT1 Read More »
By Mohi Narayan and Neha Arora NEW DELHI (Reuters) -Five Russia-bound containers from India’s Jindal Stainless Ltd (JSL) have been stuck at the Belgian port of Antwerp for around a year, unable to enter the European Union, the company said on Friday. “The containers are carrying around 100 metric tonnes of stainless steel,” a company …
Russia-bound Jindal containers stuck at Antwerp port for year -company Read More »
By Gleb Stolyarov and Roman Churikov MOSCOW (Reuters) – As the exodus of Western carmakers narrows options for Russian consumers, Chinese automakers are filling the gap, forcing Russians to overcome their reluctance to embrace Chinese brands and stomach higher prices. Chinese brands such as Haval, Chery and Geely now account for almost 40% of Russia’s …
Russians reluctantly embrace Chinese cars after Western brands depart Read More »
By Kirstin Ridley LONDON (Reuters) – A former Barclays director, fired for sexual harassment and other misconduct, is suing the British bank for more than 584,600 pounds ($719,412), arguing that female colleagues fabricated allegations and that his dismissal was unfair. Robert Record, once a senior wealth manager overseeing assets worth 580 million pounds, was dismissed …
Banker fired over sexual harassment sues Barclays for $700,000 Read More »
By Tannur Anders JOHANNESBURG (Reuters) -South African stocks fell on Friday after a plunge in European banking shares shook up the local market, while the rand weakened against a stronger U.S. dollar. On the Johannesburg Stock Exchange, the blue chip Top 40 index closed down 1.26% and the broader all-share index fell 1.18%. Banking stocks …
South African stocks fall as banking worries spread Read More »
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition …
Block shares extend losses as Hindenburg report weighs Read More »
By Hyunsu Yim SEOUL (Reuters) -South Korean music label HYBE, manager of boy band BTS, said on Friday it aimed to sell its entire 15.8% stake in K-pop pioneer SM Entertainment for 564 billion won ($437 million) by accepting a tender offer from bidder Kakao. The decision marked a formal end to a takeover battle …
K-pop takeover battle loser HYBE to sell $437 million stake in SM Read More »
