S.Korea stocks shed 3% on coronavirus fears, won hits 3-week low

* KOSPI plunges 3%, foreigners net sellers * Korean won hits 3-week low vs dollar * South Korea benchmark bond yield falls SEOUL, Jan 28 () – South Korean shares fell more than 3% on Tuesday as investors worried about the impact of the fast-spreading coronavirus on the Chinese economy. More than 100 people have

FEATURE-Tension heats up between church and villagers amid land ownership debate

MOKHE, Georgia (Thomson Foundation) – On a snow-covered plateau in southern Georgia, a wooden cross marks the construction site of a monastery that has triggered a bitter land dispute between local Muslim villagers and the Christian Orthodox Church. The quarrel revolves around property registration issues that have haunted the Caucasian nation since the collapse of

UK markets watchdog fined for compliance issues in pension plan

() – Britain’s markets watchdog was fined by The Pensions Regulator for failing to provide complete details to the members of its pension plan, the regulators said on Monday. The Financial Conduct Authority (FCA) has been fined 2,000 pounds ($2,628.80) for not including all necessary information in a 2018 governance statement, the country’s pensions watchdog

Britain’s bankers told more sleep could improve behaviour

LONDON () – With little progress to report in efforts to improve professional conduct at Britain’s banks, the body charged with raising standards has suggested that getting a better night’s sleep might help bankers behave better. FILE PHOTO: The Canary Wharf financial district is seen from an aerial view in London, Britain, August 8, 2019.

Finance calls for new UK body to boost recruitment

LONDON, Jan 28 () – Britain needs a new body dedicated to filling skill shortages in financial services as tech lures away talent and Brexit increases uncertainty, a government-commissioned report said on Tuesday. The review, commissioned by the UK finance ministry, said Britain will lose out to rival financial centres and other economic sectors unless

UPDATE 2-ISS recommends against Instructure’s proposed sale to Thoma Bravo -note

BOSTON () – Four investment firms opposing the sale of U.S. educational software company Instructure Inc (INST.N) to private equity firm Thoma Bravo picked up support on Monday when an influential proxy advisory firm came out against the planned all-cash deal of roughly $2 billion. Institutional Shareholder Services Inc (ISS) recommended that Instructure shareholders vote

Australian shares set to drop on virus fears

Jan 28 () – Australian shares are set for a sharp drop at the open on Tuesday as growing fears surrounding the economic impact of the coronavirus jolted global markets. Lower oil and metal prices are expected to drag energy and mining stocks. The local share price index futures fell 1.2%, a 174.5-point discount to

Judge dismisses Wall Street ‘fear gauge’ lawsuit against Cboe

() – A federal judge on Monday dismissed an antitrust lawsuit by investors who accused the parent of the Chicago Board Options Exchange of letting anonymous traders rig the “fear gauge,” Wall Street’s main gauge of future stock market volatility, at their expense. FILE PHOTO: People walk by the Chicago Board Options Exchange (CBOE) Global

Russia’s A-Property requests purchase of Elga coal project – RIA

MOSCOW, Jan 27 () – A-Property, a firm owned by Russian businessman Albert Avdolyan, has filed a request with Russia’s anti-monopoly service for the purchase of the Elga project from steel and coal producer Mechel and Gazprombank, the RIA news agency reported on Monday, citing a source. The anti-monopoly service said it had no immediate

Wary of Iran, Gulf Arab states seen shrugging off new Lebanese government

RIYADH, Jan 27 () – Gulf Arab states have long channelled funds into Lebanon’s fragile economy but its rich neighbours, alarmed by the rising influence of their arch-rival Iran’s ally Hezbollah, now appear loath to help ease Beirut’s worst financial crisis in decades. Prime Minister Hassan Diab, whose cabinet took office last week with the

U.S. stock rally faces major test as China virus spreads

NEW YORK () – The latest rally in U.S. stocks is facing a serious test, as the S&P 500 heads toward its worst loss in months on concerns over how the coronavirus will impact the global economy. FILE PHOTO: A traveller wearing a mask arrives on a direct flight from China, after a spokesman from

UPDATE 1-ECB may be fuelling bubbles, risking fresh crisis: Mersch

FRANKFURT () – The European Central Bank’s ultra easy monetary policy may be fuelling asset bubbles, which may in turn trigger future crises, ECB board member Yves Mersch said on Monday, providing an unusually stark warning about the risks of ultra low rates. FILE PHOTO: Yves Mersch, Member of the Executive Board of the European

Angola’s dos Santos says to sue reporters’ consortium behind Luanda Leaks

FILE PHOTO: Isabel Dos Santos, daughter of Angola’s former President and Africa’s richest woman, sits for a portrait during a interview in London, Britain, January 9, 2020. /Toby Melville/File PhotoLISBON () – Angolan billionaire Isabel dos Santos said on Monday she was launching legal action against the International Consortium of Investigative Journalists (ICIJ) and its

UPDATE 3-Coronavirus fears wipe billions from European stocks

() – Potential damage to business from China’s fast-spreading coronavirus knocked more than 2% off European stocks on Monday, after the world’s second biggest economy ramped up travel bans and extended the Lunar New Year holidays. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January

UPDATE 1-ISS recommends against Instructure’s proposed sale to Thoma Bravo -note

BOSTON () – Four investment firms opposing the sale of U.S. educational software company Instructure Inc (INST.N) to private equity firm Thoma Bravo picked up support on Monday when an influential proxy advisory firm came out against the planned all-cash deal of roughly $2 billion. Institutional Shareholder Services Inc (ISS) recommended that Instructure shareholders vote

UPDATE 3-Lebanon’s parliament passes 2020 budget amid financial crisis

BEIRUT () – Lebanon’s parliament passed the 2020 budget on Monday although its finance committee chief said the forecast revenues might be unrealistic as the country wrestles with a major economic and financial crisis. A protestor throws a stone at the riot police during a protest against the political elite in Beirut, Lebanon January 27,

Valaris settles with Luminus, hands board seat to hedge fund

BOSTON () – Oil drilling firm Valaris PLC reached a settlement with Luminus Management and said on Monday that it has appointed one of the hedge fund’s partners to its board. Luminus’ Adam Weitzman, an expert in offshore oil drilling who has experience in debt and equity capital markets and risk management, will join Valaris’

UPDATE 2-Casper IPO valuation dwindles from peak of $1 bln

() – Casper Sleep Inc, the online mattress retailer whose investors include actor Leonardo DiCaprio and rapper 50 Cent, expects its initial public offering valuation to be well below the roughly $1 billion it commanded in the last funding round. The logo of a Casper mattress store is pictured in New York, New York, U.S.

Shareholder Krupa urges GAM to form panel to attract strategic investor

ZURICH, Jan 27 () – Prague-based Krupa Global Investments (KGI) urged GAM Holding on Monday to create a shareholder committee that would explore attracting a strategic investor for the embattled Swiss asset manager. Krupa, which says it controls around 3% of GAM via direct stock holdings and derivatives, said it would propose a candidate for

UPDATE 2-Lebanon parliament passes 2020 budget amidst financial crisis

BEIRUT () – Lebanon’s parliament passed the 2020 budget on Monday although its finance committee chief said the forecast revenues might be unrealistic as the country wrestles with a major economic and financial crisis. A protestor throws a stone at the riot police during a protest against the political elite in Beirut, Lebanon January 27,

100 jobs up for grabs at Coventry Building Society

Coventry Building Society has launched a huge recruitment drive to fill 100 new roles.And that is just the start of an expansion that will see more jobs created throughout 2020. The Coventry, one of the city’s largest employers, is recruiting around 100 roles in its IT and change teams. The roles range from business analysts