NEW YORK () – U.S. fund investors returned in force to bonds during the latest week, putting the most cash in debt markets in almost a year, Investment Company Institute (ICI) data showed on Wednesday. Bond mutual funds and exchange-traded funds (ETFs) snagged $9.3 billion in new cash during the week ended Jan 16, the
PARIS () – French spirits group Pernod Ricard (PERP.PA) named business veteran Patricia Barbizet to the newly created role of lead independent director on Wednesday as it faces pressure from activist investor Elliott to improve its governance. FILE PHOTO – A logo is seen on a bottle of the Ricard aniseed-flavoured beverage displayed during French
FILE PHOTO – The logo of Barclays is seen on the top of one of its branch in Madrid, Spain, March 22, 2016. /Sergio Perez/File PhotoNEW YORK () – Barclays economists said on Wednesday they reduced their outlook on U.S. economic growth in the first quarter to an annualized rate of 2.5 percent from an
MILAN/DAVOS () – Popolare di Bari is studying a possible tie-up with other local mutual banks, two sources said, as the Rome government said it was keeping an eye on the situation at the troubled southern Italian lender. Popolare di Bari, which had 350 branches and 14.5 billion euros ($16.5 billion) in assets as of
FILE PHOTO – The logo of Barclays is seen on the top of one of its branch in Madrid, Spain, March 22, 2016. /Sergio Perez/File PhotoNEW YORK () – Barclays economists said on Wednesday they reduced their outlook on U.S. economic growth in the first quarter to an annualized rate of 2.5 percent from an
FILE PHOTO – The logo of Barclays is seen on the top of one of its branch in Madrid, Spain, March 22, 2016. /Sergio Perez/File PhotoNEW YORK () – Barclays economists said on Wednesday they reduced their outlook on U.S. economic growth in the first quarter to an annualized rate of 2.5 percent from an
() – Apollo Global Management is to buy packaging products maker RPC Group (RPC.L) for 3.3 billion pounds ($4.28 billion) in cash after months of negotiations, marking the latest M&A deal for an industry in the midst of a consolidation phase. FILE PHOTO: Leon Black, Chairman, CEO and Director, Apollo Global Management, LLC, May 1,
* FTSE 100 down 0.9 pct * FTSE 250 down 0.5 pct * Metro Bank tanks after profit miss * Burberry rebounds from early losses * RPC outshines markets on Apollo bid (Adds company news items, adds closing prices) By Muvija M and Shashwat Awasthi Jan 23 () – UK shares slipped on Wednesday as
LONDON () – European shares were sluggish on Wednesday as a batch of poor corporate updates added to worries about a global growth slowdown and China-U.S. trade negotiations. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 23, 2019. /StaffThe STOXX 600 ended down 0.1 percent, having
CHICAGO () – With the partial U.S. government shutdown about a month old, a student showed up at the College of Southern Maryland’s financial aid office with two preschool children in tow to request emergency help paying her $3,000 in tuition and fees. She is one of the 800,000 workers not getting paid. “It was
() – Guggenheim Partners Global Chief Investment Officer Scott Minerd said on Wednesday that worries about a global recession are inflated, and pessimism expressed by political and business leaders at the World Economic Forum in Davos is a “valuable contra-indicator” for investors and turning him bullish. FILE PHOTO – Scott Minerd, Chairman of Guggenheim Investments
LONDON () – Britain’s markets watchdog set out which aspects of the nascent cryptocurrency industry it regulates on Wednesday, as volatile digital assets come under greater scrutiny. Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. /Dado Ruvic/IllustrationThe Financial Conduct Authority
WASHINGTON, Jan 23 () – U.S. President Donald Trump could recognize Venezuelan opposition leader Juan Guaido as the country’s legitimate president as soon as Wednesday, according to two people familiar with the matter. Amid street protests in Venezuela, the Trump administration is preparing an announcement of its formal support for Guaido, head of the opposition-led
FILE PHOTO: he logo of Carige bank is seen in Rome, Italy, April 9 2016. /Alessandro Bianchi/File PhotoMILAN () – A top Bank of Italy official said on Wednesday he hoped that Banca Carige (CRGI.MI) could find a merger partner within a reasonable time and added the troubled bank had strengths which could benefit a
HARARE () – Zimbabwe’s President Emmerson Mnangagwa has promised action in response to a crackdown by security forces on anti-government protesters following a hike in the price of fuel. FILE PHOTO: Barricades burn as rain falls during protests in Harare, Zimbabwe January 14, 2019. /Philimon Bulawayo/File PhotoLawyers and activists say police and soldiers have killed
(Adds comments on suspending parliament) LONDON, Jan 23 () – British Prime Minister Theresa May’s Brexit deal could be reformed to make it acceptable to “Leave” lawmakers in her party who object to proposals on the Irish border, prominent eurosceptic lawmaker Jacob Rees-Mogg said on Wednesday. Rees-Mogg, who chairs the pro-Brexit European Research Group (ERG),
NEW YORK, Jan 23 () – U.S. Treasury yields held their earlier gains on Wednesday as Wall Street opened higher on strong company results, reducing safe-haven demand for U.S. government bonds. At 10:00 a.m. (1500 GMT), benchmark 10-year Treasury yields were up 3.2 basis points at 2.764 percent, while in the stock market the S&P
FILE PHOTO – President of En+ Group, Oleg Deripaska attends an agreement signing ceremony with the Krasnoyarsk region’s government, in Moscow, Russia December 12, 2017. /Sergei KarpukhinMOSCOW () – VTB Bank (VTBR.MM) is not writing off debt owed by Oleg Deripaska under a deal to lift U.S. sanctions from Russia’s En+ Group (ENPLq.L), VTB First
FILE PHOTO – Bank of Canada Governor Stephen Poloz listens to a question during a news conference in Ottawa, Ontario, Canada, January 9, 2019. /Chris WattieOTTAWA () – Bank of Canada Governor Stephen Poloz on Wednesday said the Canadian economy is in good shape, although low oil prices are delivering “a material shock” that would
(Adds comments from Tria, source) By Valentina Za and Silvia Aloisi MILAN/DAVOS, Jan 23 () – Popolare di Bari is studying a possible tie-up with other local mutual banks, two sources said, as the Rome government said it was keeping an eye on the situation at the troubled southern Italian lender. Popolare di Bari, which
LONDON, Jan 23 () – Britain would not be able to have an independent trade policy if it remained in a customs union with the European Union after it leaves the bloc, Prime Minister Theresa May’s political spokesman said on Wednesday. May’s deal with Brussels was roundly rejected by parliament last week and opposition Labour
DAVOS, Switzerland () – Italy’s economy minister kept the door open on Wednesday to the potential appointment of Bundesbank President Jens Weidmann as next head of the European Central Bank, saying past stances should not weigh on the decision. Germany’s Bundesbank President Jens Weidmann arrives to deliver a speech in Berlin, Germany, August 23, 2018.
* Shares lose more than 30 percent of value * 2018 underlying pretax profit misses estimates * CEO declines to comment on cash call * Mortgage margins soften (Adds analyst comments, updates shares) By Noor Zainab Hussain and Sinead Cruise LONDON, Jan 23 () – Metro Bank shares lost a third of their value on
FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan speaks during an interview with at the Ritz-Carlton Hotel in Riyadh, Saudi Arabia, December 19, 2018. /Stephen Kalin/File PhotoDUBAI () – Saudi Arabia will support Lebanon “all the way” to protect its stability, the Saudi finance minister said, after the kingdom’s rival Qatar announced it would buy
DAVOS, Switzerland () – Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. FILE PHOTO – Chief Executive Officer of Russian
DAVOS, Jan 23 () – Italy follows developments at Monte dei Paschi, Carige and Popolare di Bari because there is a public interest in preserving the troubled banks’ local economies but sees no systemic threat, Economy Minister Giovanni Tria said. In an interview with at the World Economic Forum in Davos, Tria said the government
* Halt on sale of Danish grid, customer units no hindrance * Taiwan deals on hold but new information due soon * Progress in Japan in cooperation with incumbent Tepco * Looking for partners for 1.14 GW German build to 2025 (Adds additional executive comments, context) By Vera Eckert, Tom Käckenhoff and Christoph Steitz BERLIN,
PARIS () – Veteran French fund manager Edouard Carmignac has handed over full control of his company’s flagship Carmignac Patrimoine fund to two colleagues, in line with plans set out last year. Edouard Carmignac, 71, has become one of the most well-known French financiers. His public relations moves have included a private Rolling Stones concert
FILE PHOTO: A security guard walks on the bund in front of the financial district of Pudong in Shanghai, China July 27, 2017. /Aly Song/File PhotoBEIJING () – China has approved a plan to set up a Nasdaq-style board for tech companies in Shanghai aimed at improving their ability to raise funds, the official Xinhua
LONDON – Bank of England Deputy Governor Ben Broadbent said on Wednesday he was puzzled by widespread warnings that household debt in Britain had reached unsustainable levels. FILE PHOTO: Bank of England Deputy Governor Ben Broadbent attends a Bank of England news conference, in the City of London, Britain November 1, 2018. Kirsty O’Connor/Pool via
