Mois : juin 2019

UPDATE 2-Minister calls on next PM to defend Britain’s leading finance role

LONDON () – Britain’s next prime minister must make it their “overriding” priority to protect London’s globally competitive position in finance after Brexit, financial services minister John Glen said on Tuesday. John Glen, local Member of Parliament for Salisbury and South Wiltshire, talks to the media in Salisbury, Britain, April 3, 2018. /Hannah McKayBritain is

Creval CEO says could discuss partnerships after two years

MILAN, June 18 () – Italian mid-sized lender Creval could sit down with interested parties about a partnership after about two years, Chief Executive Luigi Lovaglio told a briefing on Tuesday. Lovaglio was presenting a plan to turn around the bank, which has been hit hard by a deep recession that turned sour almost a

UPDATE 1-Fidelity to curb investments in Woodford Income Focus Fund

(Changes source; adds details from Fidelity, background) June 18 () – Investment firm Fidelity International said on Tuesday that it has decided to restrict its customers from making new investments in money manager Neil Woodford’s Income Focus Fund. The move comes a couple of weeks after Woodford, among Britain’s well-known fund managers, suspended his flagship

Investor Land & Buildings calls Hudson’s Bay chairman’s offer ‘inadequate’

() – Activist investor Land & Buildings Investment Management LLC said on Tuesday that a C$1.74 billion ($1.30 billion) go-private proposal for Hudson’s Bay Co from the company’s chairman and other shareholders was “woefully inadequate”. The shareholder called on the Canadian department store operator to explore strategic alternatives and hire an independent investment bank to

UPDATE 2-Swedbank suspends Estonian heads in money laundering inquiry

STOCKHOLM () – Swedbank has suspended with immediate effect the two most senior executives of its Estonian business, which is being investigated over alleged money laundering. FILE PHOTO: Swedbank sign is seen on the local headquarters building in Tallinn, Estonia March 25, 2019. /Ints KalninsSweden’s oldest retail bank has already parted ways with its chief

BoE’s Kashyap says worried about risk of capital flight from UK

FILE PHOTO: The Bank of England is seen in the financial district during rainy weather in London, Britain, September 23, 2018. /Henry Nicholls/File PhotoLONDON () – Bank of England policymaker Anil Kashyap said on Tuesday he was worried that since the Brexit referendum Britain has become more reliant on foreign funding that could be withdrawn

UPDATE 1-India to review data storage rules that irked U.S. tech firms

NEW DELHI () – India will examine concerns raised by foreign technology companies around stringent rules to store data locally, the government said on Tuesday, an issue that has upset firms such as Mastercard and also irked the U.S. government. The decision to review the rules comes at a time when trade tensions between India

UPDATE 1-ECB’s Draghi pulls European stocks back into black

() – European stock markets recovered from early falls on Tuesday after European Central Bank chief Mario Draghi promised more monetary stimulus if the economy does not improve, offsetting another warning on slowing sales from the chip sector. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt,

Hong Kong stocks end firmer, Fed jitters cap gains

* HK->Shanghai Connect daily quota used 2.2%, Shanghai->HK daily quota used 4.6% * HSI +1.0%, HSCE +0.8%, CSI300 +0.4% * FTSE China A50 +0.5% SHANGHAI, June 18 () – Hong Kong stocks closed higher on Tuesday, extending a rally from the previous session, aided by strong inflows from the mainland even as the protests subsided.

China stocks edge higher in thin trade ahead of Fed meeting

* SSEC +0.1%, CSI300 +0.4% * HK->Shanghai Connect daily quota used 2.2%, Shanghai->HK daily quota used 3.9% * FTSE China A50 +0.4% SHANGHAI, June 18 () – China stocks inched higher on Tuesday in thin trade as market participants exercised caution ahead of the U.S. Federal Reserve’s two-day policy meeting. ** The blue-chip CSI300 index

Carrefour franchisee to open first Ugandan store

NAIROBI, June 18 () – Carrefour will open its first store in Uganda this year, expanding in the region after a successful launch in neighbouring Kenya, the Dubai-based operator of the French retailer’s outlets said on Tuesday. Majid al Futtaim (MAF), a United Arab Emirates-based mall developer that holds Carrefour franchise rights in 37 countries,

Finland’s Tieto in $1.5 bln deal to buy Nordic peer Evry

OSLO, June 18 () – Finnish technology firm Tieto has agreed to pay 13.2 billion Norwegian crowns ($1.51 billion) in cash and shares for Norwegian competitor Evry , the two companies announced on Tuesday. The proposed combination will create a digital consultancy with 24,000 employees and annual revenues of nearly 3 billion euros, offering software,

China stocks hold steady ahead of Fed meeting; Hong Kong up

* SSEC +0.1%, CSI300 +0.3%, HSI +0.7% * HK->Shanghai Connect daily quota used 1.4%, Shanghai->HK daily quota used 2.3% * FTSE China A50 +0.4% SHANGHAI, June 18 () – China stocks held steady on Tuesday morning as market participants exercised caution ahead of the U.S. Federal Reserve’s two-day policy meeting. ** The CSI300 index rose

SE Asia Stocks-Tepid ahead of Fed meeting; Singapore recovers

* All eyes on U.S. Federal Reserve interest rate decision * Trading volumes remain low as investors stay on sidelines By Rashmi Ashok June 18 () – Most Southeast Asian stock markets traded in a tight range on Tuesday as caution ahead of the U.S. Federal Reserve’s two-day policy meeting kept investors on the sidelines.

UPDATE 1-Kuroda says BOJ will debate rising overseas economic risks this week

TOKYO () – Bank of Japan Governor Haruhiko Kuroda said the central bank will “certainly” debate heightening overseas risks at a rate review this week, underscoring concerns among policymakers about the economic fallout of a U.S.-China trade war. FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda speaks during a group interview at the BOJ headquarters

Australian shares rise after RBA points to more cuts; NZ steady

* Defensive sectors see strong buying ahead of Fed meet * Heavyweight financials, mining stocks muted By Ambar Warrick June 18 () – Australian shares rose on Tuesday after the country’s central bank said further policy easing was likely, although buyers largely targeted defensive sectors ahead of a two-day U.S. Federal Reserve meeting. The S&P/ASX

China’s May home prices up 0.7% m/m, touch ahead of April; rise 10.7% y/y

FILE PHOTO: A woman rides a tricycle carrying a child near a residential compound in Beijing’s Tongzhou district, China, February 25, 2016. /Jason Lee/File PhotoBEIJING () – China’s new home prices rose 0.7% month-on-month in May, picking up the pace slightly from a 0.6% gain the previous month, calculated from National Bureau of Statistics (NBS)

Trump ex-aide Manafort moved to Manhattan, arraignment seen near -source

NEW YORK () – Paul Manafort, U.S. President Donald Trump’s former campaign chairman, was transferred to a detention facility in Manhattan on Monday ahead of an expected arraignment on state charges in New York, a person familiar with the matter said. FILE PHOTO: U.S. President Trump’s former campaign manager Paul Manafort arrives at a hearing

UPDATE 2-Brazil’s Bolsonaro replaces head of BNDES development bank

BRASILIA () – Brazilian President Jair Bolsonaro’s government has named a 38-year-old banking executive as the head of development bank BNDES, replacing Joaquim Levy, who resigned on Sunday after Bolsonaro publicly criticized him. The Economy Ministry said Gustavo Montezano, its privatization secretary charged with advancing the divestiture of state assets, was named to run BNDES,