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Forex - Pound Falls as DUP to Back Eurosceptic's Backstop Amendment

Investing.com - The pound dropped on Monday following reports that Northern Ireland's Democratic Unionist Party (DUP) will back an amendment proposed by a group of pro-Brexit MPs from within Theresa May’s ruling Conservative party. Junior Brexit minister Steve Baker is proposing the amendment to block the European Union’s backstop plan. The amendment would effectively make the EU’s Irish border backstop proposal illegal. The pound fell below the $1.30 handle shortly after the...
Posted on: Oct 22, 2018 15:16:58 Read More

Italy relief, China stimulus hopes lift global stocks

By Karin Strohecker LONDON (Reuters) - European shares gained on Monday amid relief over Italy's budget, following rallies in Asia after China promised to provide stimulus to stabilise its economy and offset the impact of U.S. tariffs. Promises of tax cuts and coordinated official statements of support for stock markets in the world's second-largest economy saw Chinese shares stage their biggest one-day surge in three years. Shanghai blue chips (CSI300) jumped around 4.5 percent, adding to Fri...
Posted on: Oct 22, 2018 12:23:04 Read More

Intu Properties says considering bid from billionaire John Whittaker's consortium

(Reuters) - Retail property developer Intu Properties (L:INTUP) confirmed on Friday it was considering a 215 pence per share preliminary takeover offer from a consortium formed by British billionaire John Whittaker and Saudi Arabian and Canadian investors. The consortium formed by Whittaker, Saudi Arabia's Olayan and Canadian property investor Brookfield Asset Management (TO:BAMa) has been granted access to company documents to conduct due diligence with a view to making a f...
Posted on: Oct 19, 2018 07:14:42 Read More

Oil Set for Weekly Loss on Flight From Risk as Stockpiles Grow

(Bloomberg) -- Oil is poised for the biggest weekly decline since May as the turmoil in U.S. equities spur investors to shun risk assets at a time when American crude inventories are rising. Futures in New York were little changed, heading for a weekly drop of over 4 percent. The S&P 500 Index of equities is set for the worst week in more than six months on concerns over rising interest rates and the U.S.-China trade war. Everything from crude to zinc was hit by the sell-off, whil...
Posted on: Oct 12, 2018 10:00:59 Read More

Thales makes concessions to soothe EU's Gemalto deal worries

By Sudip Kar-Gupta and Foo Yun Chee PARIS/BRUSSELS (Reuters) - Thales (PA:TCFP) has offered concessions to address European Union antitrust concerns over the French aerospace and defence firm's 4.8-billion-euro ($5.6 billion) bid for chipmaker Gemalto (AS:GTO). In July, the European Commission began a full-scale investigation into the deal, which Thales hopes will make it a top player in digital security, saying that it could push up prices and reduce choices for customers....
Posted on: Oct 11, 2018 15:07:08 Read More

Top Oil Traders Say Iran Sanctions Hit Harder Than Expected

(Bloomberg) -- Sanctions on Iranian oil exports are hitting much harder than most people predicted as the administration of U.S. President Donald Trump takes a tough line on enforcement, said executives from the world’s largest energy traders. Perhaps 2 million barrels a day of Iranian crude could eventually be lost to the global market, said Jeremy Weir, chief executive officer of Trafigura Group Pte. While other traders including Vitol Group of Cos. and Gunvor Group saw the impact close...
Posted on: Oct 10, 2018 15:12:10 Read More

Перспективы рубля: три важных события среды

Investing.com – Российскую национальную валюту ожидает насыщенная среда с точки зрения новостного фона. Как ожидает старший аналитик "Альпари" Роман Ткачук, происходящие 10 октября события будут иметь важное значение для динамики курса рубля в среднесрочной перспективе. Во-п...
Posted on: Oct 10, 2018 12:59:37 Read More

Hurricane Michael set to punish Florida's Gulf coast

By Devika Krishna Kumar TALLAHASSEE, Fla. (Reuters) - Powerful Hurricane Michael was hours away from smashing into Florida's northwestern shore with a wall of water and roof-shredding winds on Wednesday and authorities told residents along the coast they had run out of time to evacuate and should hunker down. A very dangerous Category 4 storm on five-step Saffir-Simpson scale, Michael had strengthened as it moved north over the Gulf of Mexico and by 8 a.m. ET (1200 GMT) was carrying top winds ...
Posted on: Oct 10, 2018 12:58:47 Read More

Forex - Euro Hits 7-Week Lows as Italy Worries, Strong Dollar Weigh

Investing.com - The euro extended early losses on Tuesday, falling to fresh seven-week lows as concerns over Italy’s fiscal outlook and a broadly stronger dollar weighed. EUR/USD was down 0.41% to 1.1444 by 07:16 AM ET (11:16 AM GMT), the weakest level since August 20. The single currency was pressured lower amid an ongoing row between Italy’s populist government and the European Commission over the country’s budget plans. Brussels and Rome have been at odds over the co...
Posted on: Oct 9, 2018 12:56:00 Read More

Forex - Dollar Edges Higher, Yen Steady in Cautious Trade

Investing.com - The dollar edged higher against a currency basket on Tuesday and the safe haven yen remained steady in cautious trade as rising U.S. bond yields and concerns over the outlook for global growth weighed on risk appetite. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.17% to 95.60 by 03:57 AM ET (07:57 AM GMT), not far from a six-week high of 95.78 reached last week. Demand for the dollar was underpinned...
Posted on: Oct 9, 2018 09:48:17 Read More

Jaguar Land Rover to shut Solihull plant for two weeks - union

LONDON (Reuters) - Britain's biggest carmaker Jaguar Land Rover (NS:TAMO) will close its Solihull car plant for two weeks from Oct. 22, the Unite union said on Monday. Jaguar Land Rover has faced sliding diesel sales in recent months and has warned about the implications of Brexit, announcing job cuts and a three-day week at another facility.   "No jobs are affected by the two week shutdown and workers will continue to be paid by banking hours," the Unite Union said in a statement....
Posted on: Oct 8, 2018 15:02:58 Read More

Watch FANG Stocks for Warning of Fed Mistake, Says Julius Baer

(Bloomberg) -- If the Federal Reserve tightens U.S. monetary policy too far, investors in the bull market’s biggest winners will feel the pain first, according to Bank Julius Baer & Co. That’s tech stocks. Strong economic growth will encourage the Fed to keep raising interest rates, even if the tightening sucks out more liquidity than financial markets can tolerate, said Yves Bonzon, chief investment officer at Julius Baer. That could drive the S&P 500 Indexdown about 2...
Posted on: Oct 8, 2018 13:43:22 Read More

Forex - Dollar Broadly Higher; Euro Pressured Lower

Investing.com - The dollar pushed higher against a currency basket on Monday, as a recent solid run of U.S. economic data underpinned expectations for further gradual rate hikes by the Federal Reserve through the end of this year and beyond. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.22% to 95.52 by 03:27 AM ET (07:27 AM GMT) after hitting a six-week high of 95.78 last week. The Labor Department reported Friday t...
Posted on: Oct 8, 2018 09:19:05 Read More

UK cyber security agency backs Apple, Amazon China hack denials

LONDON (Reuters) - Britain's national cyber security agency said on Friday it had no reason to doubt the assessments made by Apple (O:AAPL) and Amazon (O:AMZN) that refuted a Bloomberg story that their systems contained malicious computer chips inserted by Chinese intelligence. Bloomberg Businessweek on Thursday cited 17 unnamed intelligence and company sources as saying that Chinese spies had placed computer chips inside equipment used by around 30 companies, as well as multiple U.S. governmen...
Posted on: Oct 5, 2018 13:35:31 Read More

Oil rises ahead of U.S. Iran sanctions, but outlook for 2019 less certain

By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose on Friday as traders anticipated a tighter market due to U.S. sanctions against Iran's crude exports, which are set to start next month. International benchmark Brent crude oil futures (LCOc1) were at $84.98 per barrel at 0504 GMT, up 40 cents, or 0.5 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were up 47 cents, or 0.6 percent, at $74.80 a barrel. The gains helped claw back some of the losse...
Posted on: Oct 5, 2018 09:57:06 Read More

CMA toughens action against Lloyds Bank over PPI

LONDON (Reuters) - Britain's Competition and Markets Authority has demanded Lloyds Banking Group (L:LLOY) toughen its procedures around payment protection insurance (PPI) after it accused the bank of breaching its current arrangements. The CMA said Lloyds had failed to send annual reviews, which have been required by the regulator since 2011, to around 14,000 of its PPI customers. The reviews set out how much customers need to pay and their right to cancel the policy. Some of the reviews that ...
Posted on: Oct 4, 2018 15:17:35 Read More

European shares weighed down by defensives; banks get yield boost

MILAN (Reuters) - European shares fell in early trade on Thursday, led lower by defensive stocks, while banks tracked gains by their U.S. peers after strong data lifted Treasury yields to their highest since mid-2011. The pan-European STOXX 600 (STOXX) benchmark index was down 0.5 percent by 0726 GMT. Germany's DAX (GDAXI) also declined 0.5 percent and the UK's FTSE (FTSE) fell 0.6 percent. Defensive companies including consumer and healthcare stocks were the main drag on the STOXX. Shares in&...
Posted on: Oct 4, 2018 09:51:58 Read More

Forex - Euro Slips on Italy Woes, Yen Pushes Higher

Investing.com - The euro slipped lower on Tuesday amid fresh concerns over Italy's fiscal issues, while the safe haven yen pushed broadly higher as the boost to risk appetite from the re-negotiated NAFTA deal faded. EUR/USD was down 0.41% to 1.1530 by 04:26 AM ET (08:26 AM GMT), the lowest level since Sept. 10. The drop in the euro came after Claudio Borghi, head of the lower house's budget committee, said Italy would have solved its fiscal problems with its own currency. The comments ad...
Posted on: Oct 2, 2018 09:20:01 Read More

Forex- Sterling Jumps on News of Irish Border Deal

Investing.com - Sterling surged on Monday amid news that the UK plans to compromise on the Irish border issue to move forward with a Brexit deal. GBP/USD jumped 028% to 1.3066 as of 9:05 AM ET (13:05 GMT), not far from an earlier high of 1.3078. UK Prime Minister Theresa May plans to make a new Brexit deal with the European Union, Bloomberg reported. A senior British government official told Bloomberg that the country sees a way to reach an agreement on the border issue. The deal would o...
Posted on: Oct 1, 2018 13:32:18 Read More

Swiss check if banks handled Danske's Estonian fund flows

ZURICH (Reuters) - Swiss watchdogs are looking into whether local banks handled billions of euros that may have moved to Switzerland through the Estonian branch of Denmark's Danske Bank (CO:DANSKE). "We are addressing the question of whether and how Swiss institutions are involved in the current case of Danske Bank and how money laundering regulations were observed," the Financial Market Supervisory Authority (FINMA) said in an email on Friday. Danske Bank's CEO resigned this month a...
Posted on: Sep 28, 2018 11:28:30 Read More