Aug 31 () – A slide in emerging markets provides a good buying opportunity for some countries and stocks but falling interest rates will lead to irrational capital allocation and an eventual crash, said Mark Mobius, the founder of Mobius Capital Partners. Investors should allocate about 10% of their assets in physical gold, Mobius, who
LONDON/BELFAST () – Thousands of people across Britain and Northern Ireland protested on Saturday against Prime Minister Boris Johnson’s decision to suspend parliament for about a month before the deadline for the country to leave the European Union. Anti-Brexit protestors demonstrate outside the gates of Downing Street at Whitehall in London, Britain, August 31, 2019.
STOCKHOLM () – Swedish Finance Minister Magdalena Andersson said on Saturday the center-left coalition government would introduce a bank tax to help fund greater defense spending from 2022. FILE PHOTO: Sweden’s Minister of Finance Magdalena Andersson speaks after a government meeting in Harpsund, Sweden August 16, 2018. /Daniel DicksonThe Social Democrats and Greens said on
MADRID, Aug 31 () – The balance of euro zone growth risks is clearly tilted to the downside, European Central Bank policymaker Pablo Hernandez de Cos said on Saturday, citing a disorderly Brexit as a key risk and acknowledging the ECB’s shortcomings in meeting its inflation goals. De Cos said in a speech in La
LONDON () – Britain’s finance minister Sajid Javid on Saturday he had a “fantastic” relationship with Boris Johnson after reports of a furious argument with the prime minister after the sacking of one of his aides. Britain’s Chancellor of the Exchequer, Sajid Javid arrives at SGS College Filton, where Javid himself was a student, in
Britain’s Chancellor of the Exchequer, Sajid Javid arrives at SGS College Filton, where Javid himself was a student, in Bristol, Britain, August 30, 2019. /Toby Melville/PoolLONDON () – Britain’s finance minister Sajid Javid on Saturday he had a “fantastic” relationship with Boris Johnson after reports that he had a furious argument with the prime minister
MEXICO CITY () – Latin American delivery app Rappi plans to almost double the number of cities it operates in by year’s end, its co-founder said on Friday, following a $1 billion injection from Japan’s SoftBank that signals growing foreign interest in the region. The logo of Colombian on-demand delivery company Rappi is seen on
Aug 30 () – Dorian strengthened into an extremely dangerous category 4 hurricane, the U.S. National Hurricane Center said on Friday. Dorian was located about 400 miles (645 kilometers) east of the northwestern Bahamas, packing maximum sustained winds of 130 mph (215 km/h), the Miami based weather forecaster said. Reporting by Nallur Sethuraman in Bengaluru,
WASHINGTON/BRASILIA () – Brazil’s foreign minister and President Jair Bolsonaro’s son met with U.S. President Donald Trump on Friday to discuss the fires ravaging the Amazon rainforest, although no concrete measures to deal with the blazes were announced. The son of Brazilian President Jair Bolsonaro, Eduardo Bolsonaro, leaves after a meeting with U.S. President Donald
FILE PHOTO: A sign advertising Juul brand vaping products is seen outside a shop in Manhattan in New York City, New York, U.S., February 6, 2019. /Mike Segar () – E-cigarette maker Juul Labs Inc, which is facing regulatory scrutiny in the domestic U.S market, has raised $785.2 million in an equity and debt offering
BUENOS AIRES () – Argentina’s battered bonds and currency were driven still lower on Friday amid downgrades by three credit rating agencies and a new measure the central bank said was designed to “avoid any lack of money” and safeguard the liquidity of the country’s financial system. Some private economists said the policy, which could
Aug 30 () – E-cigarette maker Juul Labs Inc, which is facing regulatory scrutiny in the domestic U.S market, has raised $785.2 million in an equity and debt offering as it looks to expand globally, a regulatory filing showed. A person familiar with the fundraising said the Friday’s filing was an expansion of the offering
FILE PHOTO: Chairman Ajit Pai speaks at the Federal Communications Commission in Washington, U.S., December 14, 2017. /Aaron P. BernsteinWASHINGTON () – Federal Communications Commission chairman Ajit Pai on Friday sought approval from his colleagues to order the go ahead for Nexstar Media Group Inc’s (NXST.O) acquisition of Tribune Media Co (TRCO.N) in a $6.4
WASHINGTON, Aug 30 () – Federal Communications Commission chairman Ajit Pai on Friday sought approval from his colleagues for an order to approve Nexstar Media Group Inc’s acquisition of Tribune Media Co in a $6.4 billion tie-up, a spokeswoman for the agency said. Last month, the U.S. Justice Department approved the deal, saying the companies
BUENOS AIRES () – Argentina’s battered bonds and currency were driven still lower on Friday amid downgrades by three credit rating agencies and a new policy that the central bank said would ensure the liquidity of the country’s financial system. Some private economists said the policy, which could limit the availability of hard peso currency
BOSTON () – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’ Brands Inc , returning for the second time in nearly two years to push for fresh changes after reaching a settlement in 2018. FILE PHOTO: Barry Rosenstein, founder and managing Partner of JANA Partners LLC.,
BUENOS AIRES/LONDON/NEW YORK () – Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date swoon to 36%, forcing renewed central
BOSTON () – Top mutual fund manager Vanguard Group Inc will ask companies about the gender, age and race of their directors, adding pressure on U.S. companies to diversify their leadership. Vanguard gave the guidance in its annual stewardship report released on Friday morning. With about $5 trillion under management and known for products like
BRASILIA () – Brazilian President Jair Bolsonaro said on Friday he may have news later in the day on his request to U.S. President Donald Trump for help fighting the Amazon rainforest fires, as the country also fields offers from Chile, Ecuador and Israel. An aerial view of a burning tract of Amazon jungle as
FILE PHOTO: The sign for Swiss bank Julius Baer is seen at a branch office in Luzern, Switzerland, November 23, 2017. /Arnd WiegmannZURICH () – Lender Julius Baer (BAER.S) has decided to keep its Italian subsidiary Kairos after completing a strategic review and as the asset and wealth manager’s performance improves, Switzerland’s third-largest listed bank
Aug 30 () – Dorian strengthened into a category 3 hurricane on the Saffir-Simpson Wind Scale and could be a significant threat to Florida and the northwestern Bahamas, the U.S. National Hurricane Center (NHC) said on Friday. Dorian was located about 445 miles (715 kilometers) east of the northwestern Bahamas with maximum sustained winds of
MEXICO CITY, Aug 30 () – Expectations for a September interest rate cut in Mexico are growing after the central bank in recent days slashed its 2019 economic forecast and underscored concerns about slowing growth, domestic demand and private investment. Known as Banxico, the central bank said economic stagnation reflected weakness in most areas of
BOSTON () – A pledge by top CEOs to work for more than shareholders drew criticism on Friday from investor activists, who accused the corporate leaders of contradicting their inclusive message by lobbying against social and environmental reform efforts. The activists, members of a New York interfaith group, faulted the CEO trade group known as
BRASILIA, Aug 30 () – Brazil’s real lost almost 8% in August, making it one of the worst-performing currencies against the dollar, behind Argentina’s peso, and marking its weakest month in four years. The slide, exacerbated by market positioning, aggressive bets on lower Brazilian interest rates and a financial crisis in neighboring Argentina, took the
NEW YORK () – The euro fell below $1.10 on Friday to its weakest since May 2017 as a multi-day downward shift in the single currency intensified in afternoon trade. FILE PHOTO: A man is seen in front of a sheet of five Euro notes at the opening of the new Central Bank of Ireland
LONDON/BUENOS AIRES () – Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big German pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date swoon to 36%, forcing renewed central
() – European stocks scaled fresh one-month highs on Friday, wrapping up a brutal month on a positive note as investors took comfort from Chinese and U.S. willingness to return to trade talks. Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany,
FILE PHOTO: The headquarters of Scout24, an operator of digital marketplaces for real estate and automobiles, is pictured in Munich, Germany, July 5, 2019. /Michael DalderMUNICH () – Activist investors calling for strategic change at Scout24 (G24n.DE) have won a vote to place a representative on the German classifieds group’s non-executive supervisory board, ramping up
* Govt announces a series of mergers involving 10 banks * Total number of government-owned banks cut to 12 * 10 state-owned lenders will be granted additional funds (Adds analyst comments, details on governance reforms) By Mayank Bhardwaj and Aftab Ahmed NEW DELHI, Aug 30 () – India announced a series of mergers involving 10
JOHANNESBURG, Aug 30 () – South African diversified miner African Rainbow Minerals (ARM) said on Friday it would reduce production at its loss-making Nkomati mine in preparation for closure. The nickel mine, in Mpumalanga province, was hit by soaring costs and lower metals prices in the last few years, the firm said during its annual
