UPDATE 2-EXPLAINER-A vote reversed: What is the path back from Brexit?

LONDON () – To leave, or not to leave: Two and a half years since the United Kingdom voted to exit the EU, that is still the question. An anti-Brexit demonstrator hold placards opposite the Houses of Parliament, in London, Britain, November 13, 2018. /Simon DawsonThe crisis in Prime Minister Theresa May’s government over her draft Brexit divorce deal has stirred interest in the possibility that the United Kingdom could change its mind, or ‘regrexit’. In the June 23, 2016 referendum, 17.4 million voters, or 52 percent, backed Brexit while…

UPDATE 2-Britain’s Johnston Press to transfer to bondholders

() – Britain’s Johnston Press (JPR.L), publisher of The Scotsman, The Yorkshire Post and “I” newspapers, said on Friday it would file for administration, a form of creditor protection, and then be sold to its bondholders, allowing it to continue to trade. Last month Johnston Press put itself up for sale after it reviewed its finiancial situation, which included a large debt repayment due next year. The group has struggled with tough conditions in the publishing market. That sale process ended on Friday with the company concluding its equity had…

REFILE-TREASURIES-U.S. yields fall as Fed comments spark talk of rate hike end

(In 6th paragraph, corrects name to Fox Business Network, not Fox Business News) * Fed’s Clarida says interest rates nearing neutral level * Fed’s Kaplan warns about slowing global growth-Fox interview * U.S. 30-year, 10-year, 2-year yields fall to 2-week lows By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 () – U.S. Treasury yields retreated on Friday after a top Federal Reserve official said U.S. interest rates are nearing the central bank’s estimates of a neutral level, suggesting that the current tightening cycle may soon end. U.S. benchmark 10-year, 30-year, and…

UPDATE 1-EXPLAINER-A vote reversed: What is the path back from Brexit?

LONDON () – To leave, or not to leave: More than two and a half years since the United Kingdom voted to exit the EU, that is still the question. An anti-Brexit demonstrator hold placards opposite the Houses of Parliament, in London, Britain, November 13, 2018. /Simon DawsonThe crisis in Prime Minister Theresa May’s government over her draft Brexit divorce deal has stirred interest in the possibility that the United Kingdom could change its mind, or ‘regrexit’. In the June 23, 2016 referendum, 17.4 million voters, or 52 percent, backed…

Ex-Trump campaign aide Papadopoulos asks to put off prison pending Mueller appeal

() – George Papadopoulos, a former aide to Donald Trump’s 2016 presidential campaign who pleaded guilty to lying to federal agents probing ties between the campaign and Russia, filed a motion on Friday seeking to postpone his sentence pending a separate case he hoped would lead to his conviction being overturned. FILE PHOTO: Former Trump campaign aide George Papadopoulos leaves after his sentencing hearing at U.S. District Court in Washington, U.S., September 7, 2018. /Yuri Gripas/File PhotoThe motion was submitted by a new team of lawyers hired by Papadopoulos after…

GLOBAL MARKETS-Dollar, U.S. yields slide on Fed official rate talk

NEW YORK () – The U.S. dollar weakened and Treasury yields slid on Friday after a top Federal Reserve official said U.S. interest rates were near a neutral rate, while the S&P 500 ended positive after a seesaw session helped by optimism over U.S.-China trade ties. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 8, 2018. /Brendan McDermidOil prices steadied but still posted their sixth straight week of losses. Uncertainty over Britain’s exit from the European Union clouded currency and other…

Fidelity names tech executive Neff to run asset management

BOSTON () – Fidelity Investments on Friday named technology executive Steve Neff to run its big asset management division, a move that shows the growing importance of data systems for fund companies. Neff, a 22-year Fidelity veteran, replaces Charlie Morrison, whose pending retirement the privately held Boston firm announced in October. “It’s an opportune time for Steve to lead Asset Management, as technology is becoming increasingly important in our efforts to deliver outstanding investment performance and solutions for our customers,” Fidelity Chief Executive Abigail Johnson wrote in a memo to…

TREASURIES OUTLOOK-U.S. yields fall as Fed comments spark talk of rate hike end

* Fed’s Clarida says interest rates nearing neutral level * Fed’s Kaplan warns about slowing global growth -Fox interview * U.S. 30-year, 10-year, 2-year yields fall to 2-week lows (Repeats to additional subscribers without any changes to text) By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 () – U.S. Treasury yields retreated on Friday after a top Federal Reserve official said U.S. interest rates are nearing the central bank’s estimates of a neutral level, suggesting that the current tightening cycle may soon end. U.S. benchmark 10-year, 30-year, and two-year yields dropped…

Argentina’s cenbank could drop key rate floor as early as Dec. 3 – sources

BUENOS AIRES, Nov 16 () – Argentina’s central bank could eliminate its benchmark interest rate floor as soon as Dec. 3 if it sees inflation expectations dip for two months in a row, two sources at the central bank said on Friday. The bank had previously said it would keep its benchmark rate at 60 percent until December but had not set a date or terms for adjusting the rate, currently the highest in the world. The sources said the central bank would eliminate the rate floor if economists lowered…

UPDATE 2-U.S. regulator settles with tech startups over token sale violations

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. /Jonathan Ernst/File PhotoWASHINGTON () – The U.S. Securities and Exchange Commission settled charges on Friday with two technology companies for improperly offering digital tokens, mandating that they register their offerings as securities and reimburse investors. The action marked the first time the SEC has imposed penalties against tech startups that skirt the regulator’s rules through “initial coin offerings.” It also marks a ramping up of the SEC’s vigorous…

Eaton Vance’s Gaffney sees opportunity in emerging market-denominated bonds

NEW YORK () – There are untapped opportunities in corporate debt securities denominated in emerging-market currencies, Eaton Vance’s director of diversified fixed-income said at the Global Investment 2019 Outlook Summit on Friday. Kathleen Gaffney, vice president, director of diversified fixed income and lead portfolio manager for Eaton Vance Management, speaks during the Global Investment 2019 Outlook Summit in New York, U.S., November 16, 2018. /Brendan McDermidKathleen Gaffney has put 30 percent of her fund’s $850 million in assets under management in non-dollar denominated debt. “Most fixed income investors don’t think…

Trying to make Yemen child smile ‘like tickling a ghost’ -U.N. food chief

UNITED NATIONS, Nov 16 () – United Nations food chief David Beasley spotted a tiny foot sticking out from under a blanket in a hospital in Yemen that has been overwhelmed with malnourished children, so he tried to bring a smile to the face of the small patient. “It was just like tickling a ghost,” Beasley, executive director of the World Food Programme, told reporters in New York on Friday after returning from a three-day visit to the war-torn, impoverished Arabian Peninsula country. Beasley recounted a conversation he had with…

UPDATE 2-Airbnb had ‘substantially more’ than $1 bln in quarterly revenue

SAN FRANCISCO () – Home-renting company Airbnb Inc said on Friday it had “substantially more” than $1 billion in revenue for the third quarter, marking its strongest quarter yet ahead of a widely anticipated initial public offering next year. The logo of Airbnb is displayed at an Airbnb event in Tokyo, Japan, June 14, 2018. /Issei KatoThe quarter was the first time it “substantially” exceeded $1 billion in revenue, Airbnb said in a statement, citing growth in key overseas markets, as well as in the smaller towns and suburban areas…

Brazil markets cheered by pro-business make-up of Bolsonaro team

SAO PAULO () – Investors on Friday welcomed the appointment of Santander executive Roberto Campos to head Brazil’s central bank as a sign President-elect Jair Bolsonaro will entrust economic and monetary policy to a market-friendly team of economists. Brazil’s President-elect Jair Bolsonaro attends a meeting with governors-elect in Brasilia, Brazil November 14, 2018. /Adriano MachadoSao Paulo’s Bovespa stock index surged as much as 2.65 percent on Friday and Brazil’s real currency strengthened 1.2 percent against the dollar following Thursday’s announcement by incoming finance minister Paulo Guedes. Analysts said Bolsonaro, a…

UPDATE 1-U.S. regulator settles with tech startups over token sale violations

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. /Jonathan Ernst/File PhotoWASHINGTON () – The U.S. Securities and Exchange Commission settled charges on Friday with two technology companies for improperly offering digital tokens, mandating that they register their offerings as securities and reimburse investors. The action marked the first time the SEC has imposed penalties against tech startups that skirt the regulator’s rules through “initial coin offerings.” It also marks a ramping up of the SEC’s vigorous…

GLOBAL MARKETS-Dollar, U.S. yields slide on Fed official’s rate comments

NEW YORK () – The U.S. dollar weakened and Treasury yields pulled back on Friday after a top Federal Reserve official said U.S. interest rates were near a neutral rate, while uncertainty over Britain’s exit from the European Union clouded currency and other markets. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 8, 2018. /Brendan McDermidOil prices climbed for a third day in a volatile session as it clawed back from steep recent losses. [O/R] Markets were shaken by comments from…

EXPLAINER-A vote reversed: What is the path back from Brexit?

LONDON () – To leave, or not to leave: More than two and a half years since the United Kingdom voted to exit the EU, that is still the question. An anti-Brexit demonstrator hold placards opposite the Houses of Parliament, in London, Britain, November 13, 2018. /Simon DawsonThe crisis in Prime Minister Theresa May’s government over her draft Brexit divorce deal has stirred interest in the possibility that the United Kingdom could change its mind, or ‘regrexit’. In the June 23, 2016 referendum, 17.4 million voters, or 52 percent, backed…

Airbnb had ‘substantially more’ than $1 billion in quarterly revenue

The logo of Airbnb is displayed at an Airbnb event in Tokyo, Japan, June 14, 2018. /Issei KatoSAN FRANCISCO () – Home-renting company Airbnb said on Friday it had “substantially more” than $1 billion in revenue for the third quarter, marking its strongest quarter yet ahead of a widely anticipated initial public offering expected next year. San Francisco-based Airbnb said in a statement that the third quarter was the first time the company exceeded $1 billion in revenue, with growth in key overseas markets, including Beijing and Mexico City, as…

UPDATE 1-Student delinquencies up as U.S. household debt hits another record

NEW YORK () – The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal that the U.S. economic expansion is growing old. FILE PHOTO: Students walk through the campus of the University of North Carolina at Chapel Hill, North Carolina, U.S., September 20, 2018. an unusual jump in student-loan delinquencies could provide another signal that the U.S. economic expansion is growing old. /Jonathan Drake/File PhotoFlows of student debt into serious…

UPDATE 1-U.S. Senate Judiciary chair Grassley’s move to leave key opening

FILE PHOTO – U.S. Senate Judiciary Committee Chairman Senator Chuck Grassley (R-IA) speaks during a news conference to discuss the FBI background investigation into the assault allegations against U.S. Supreme Court nominee Judge Brett Kavanaugh on Capitol Hill in Washington, U.S., October 4, 2018. /Yuri GripasWASHINGTON () – U.S. Senate Judiciary Committee Chairman Chuck Grassley on Friday said he planned to relinquish the position next year, leaving a vacancy at the top of the panel, which is among those investigating alleged Russian political interference. In a statement, the Iowa Republican…

Gin-tasting is just the tonic for charity fundraisers

Gin lovers helped raise almost £1,000 for Cancer Research UK. A charity gin-tasting evening took place at Farmers Fayre in Stoneleigh Park near Kenilworth and raised £985 for the charity. The event at the farm shop and kitchen was billed as a Gin Talk, Tipple and a Nibble – and was a total sell-out. Connoisseurs from award-winning regional gin producers Cotswolds Distillery, based at Shipston-on-Stour, and Nelson’s Gin Distillery, from Uttoxeter, were on hand to share their expertise with the 90-strong audience. From left, Richard Chamberlain, Nicola Reece, Sam Ballantyne,…

Gadget show star revealed as presenter for our inaugural West Midlands Tech Awards

Gadget show star Ortis Deley has been revealed as the presenter for this years West Midlands Tech Awards. Ortis, who has co-presented the Channel 5 hit show for seven years, will be revealing the winners at the ICC ceremony. The inaugural awards, to be held on December 13, will be celebrating the top technology and digital businesses, investors and innovators across the region. The shortlist of finalists were revealed after a panel of judges spent hours deliberating the scores of nominations they received. West Midlands Tech Award 2018 judging day…

UK PM May appoints Stephen Barclay as new Brexit Secretary

LONDON, Nov 16 () – British Prime Minister Theresa May appointed Stephen Barclay, a junior health minister who voted to leave the European Union in a 2016 referendum, as her new Brexit Secretary on Friday, her spokesman said. The spokesman said that May herself would personally oversee the last 10 days of negotiations with the EU on the future framework, and that Barclay would focus on the domestic preparedness for Brexit and getting May’s draft withdrawal agreement through parliament. Barclay replaced Dominic Raab who quit as Brexit minister on Thursday…

GLOBAL MARKETS-Dollar, U.S. yields fall on Fed comments; Brexit casts shadow

NEW YORK () – The U.S. dollar weakened and Treasury yields pulled back on Friday after a top Federal Reserve official said U.S. interest rates are near a neutral rate, while continued uncertainty over Brexit clouded currency and other markets. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 8, 2018. /Brendan McDermidOil climbed for a third session as it clawed back from steep recent losses. Wall Street’s main indexes were little changed in initial trading. Disappointing forecasts by chip companies Nvidia…

UPDATE 1-UK competition watchdog opens investigation into financial services

(Adds details) LONDON, Nov 16 () – Britain’s competition watchdog has opened an investigation into “suspected anti-competitive arrangements” in the financial services sector. “The case is at an early stage and no assumption should be made at this point that competition law has been infringed,” the Competition and Markets Authority (CMA) said in a statement on Friday. The CMA declined to give further detail on the investigation that is looking at conduct in relation to certain types of financial products. The CMA declined to say if the investigation is focusing…

UPDATE 1-Germany must prepare for a no-deal Brexit -finance minister

German Finance Minister Olaf Scholz attends a press conference after the federal cabinet meeting in Potsdam, Germany November 15, 2018. /Axel SchmidtFRANKFURT () – Germany must prepare for a hard Brexit but will do everything possible to avoid it, Finance Minister Olaf Scholz said on Friday. He said he hoped the draft agreement on the table would be approved. Asked about the possibility of a no-deal Brexit, Scholz said: “One has to prepare for this variant…But we will do everything we can to avoid it.” Speaking at a banking conference…

Saudi Arabia defies US pressure to end Qatar row after Khashoggi killing

DUBAI () – Saudi Arabia is defying U.S. calls to mend ties with Qatar despite signs that pressure to end another regional crisis, the Yemen war, has had an impact on Riyadh since the killing of a prominent journalist. FILE PHOTO: U.S. Secretary of State Mike Pompeo walks with Saudi Foreign Minister Adel al-Jubeir in Riyadh, Saudi Arabia, October 16, 2018. /Leah Millis/Pool/File PhotoJamal Khashoggi’s murder at the Saudi consulate in Istanbul on Oct. 2 caused a global outcry, opened Saudi Arabia to the possibility of sanctions and damaged the…

UBS lures more money from U.S. super rich to Switzerland

ZURICH () – A decade after a U.S. crackdown ended Swiss banking secrecy, rich Americans are flocking back to UBS (UBSG.S) as they look to diversify their investments in a volatile U.S. political landscape, a senior executive at the Swiss group told . FILE PHOTO: The logo of Swiss bank UBS is seen in St. Moritz, Switzerland, February 10, 2017. /Stefano Rellandini/File Photo“The interest has increased, for political reasons and for reasons of diversification,” Juergen Wegner said in an interview, without elaborating. Wegner is in charge of Swiss Financial Advisers…

TREASURIES-Yields on 2-year, 10-year notes slide to 2-week lows after Fed comments

NEW YORK, Nov 16 () – U.S. benchmark Treasury 10-year and two-year yields fell to two week lows on Friday after a top Federal Reserve official said U.S. interest rates are nearing the central bank’s estimates of a neutral rate. In a CNBC interview at the U.S. central bank’s Washington headquarters, Fed vice chair Richard Clarida said he does not believe the Fed has raised rates too far or too fast. But he noted that the Fed needs to be particularly data-dependent as rates near the 2.5 percent to 3.5…

UPDATE 3-ECB can change rate path if inflation slows: Draghi

FRANKFURT () – The European Central Bank can change its plans to start raising interest rates late next year if borrowing costs rise too far or inflation slows, ECB President Mario Draghi said on Friday. FILE PHOTO: European Central Bank (ECB) President Mario Draghi arrives at the 28th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 16, 2018. /Ralph OrlowskiHaving pumped 2.6 trillion euro ($2.95 trillion) into the euro zone’s financial system since 2015 in a bid to revive inflation, the ECB expects to…