News

News

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

Forex - Dollar Gains Ground as Markets Digest Fed Rate Hike

Investing.com - The dollar gained ground against the other major currencies on Thursday as markets digested the Federal Reserve’s widely expected rate hike and indications that its remains on track to continue monetary tightening into next year. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.31% to 94.16 by 04:03 AM ET (08:03 AM GMT). The Fed raised interest rates by a quarter point to 2.25% on Wednesday, its t...
Posted on: Sep 27, 2018 13:01:11 Read More

European shares steady ahead of expected Fed rate hike

By Julien Ponthus LONDON (Reuters) - European shares held their ground on Wednesday morning, following limited gains on Asian stock markets and before a widely expected rate hike by the U.S. Federal Reserve. The pan-European STOXX 600 (STOXX) was down 0.01 percent by 0843 GMT after rising during the previous session, with energy stocks buoyed by Brent crude prices at four-year highs. London's FTSE 100 (FTSE) was down 0.03 percent, Paris' CAC 40 (FCHI) up 0.09 percent and Frankfurt's...
Posted on: Sep 26, 2018 09:42:22 Read More

Iranian Oil Tankers Go Dark With 1 1/2 Months to Go to Sanctions

(Bloomberg) -- Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg. The most likely expla...
Posted on: Sep 25, 2018 13:01:37 Read More

Oil majors help FTSE 100 rise, Next shines on brighter profit outlook

By Helen Reid LONDON (Reuters) - Britain's top share index edged up on Tuesday thanks to a surge in oil majors as crude prices hit a four-year high, while retailer Next stole the spotlight after a strong update confounded expectations. The FTSE 100 rose 0.2 percent by 0825 GMT, boosted by energy stocks and miners. Next (L:NXT) shares jumped 8.5 percent to the top of the FTSE 100 after it raised its full-year profit forecast and struck an optimistic tone on a no-deal Brexit...
Posted on: Sep 25, 2018 09:42:53 Read More

Stocks struggle as U.S.-China trade row revives growth concerns; oil elevated

By Shinichi Saoshiro TOKYO (Reuters) - Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth. Spreadbetters expected European stocks to open on the defensive, with Britain's FTSE giving up 0.1 percent, Germany's DAX starting unchanged and France's CAClosing 0.2 percent. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.15 percent. But...
Posted on: Sep 25, 2018 07:52:09 Read More

Forex - U.S. Dollar Plummets, Sterling Rises

Investing.com - The U.S. dollar continued to fall against other currencies on Monday, while the pound gained ground as investors awaited an interest rate decision from the Federal Reserve. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.21% to 93.59 as of 10:21 AM ET (14:21 GMT). The Fed meets on Tuesday and Wednesday, with traders expecting a rate hike for the third time this year. The market has already priced in a 10...
Posted on: Sep 24, 2018 15:42:11 Read More

Forex- U.S. Dollar Falls as China Cancels Trade Talks

Investing.com - The U.S. dollar was lower against other currencies on Monday as trade war jitters spooked investors. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.07% to 93.72 as of 4:53 AM ET (8:53 GMT). China cancelled mid-level trade talks with the U.S. as well as a proposed visit to Washington by Vice Premier Liu He which had been scheduled for this week, the Wall Street Journal reported. “The door for trad...
Posted on: Sep 24, 2018 11:39:17 Read More

Sterling derivative bets rise as Brexit endgame nears

By Saikat Chatterjee and Maiya Keidan LONDON (Reuters) - As negotiations become fraught before Britain's exit from the European Union in March, tensions of a different kind are surfacing on the currency markets -- derivatives activity is rising sharply as investors bet on a weaker sterling. Hopes of progress on a Brexit deal between London and Brussels have fuelled a sterling rebound to nine-week highs; yet the view broadly remains that talks will go down to the wire, setting British assets up...
Posted on: Sep 21, 2018 11:17:58 Read More

Forex - Dollar Under Pressure; Euro, Pound Higher Ahead of EU Summit

Investing.com - The dollar edged lower against its major rivals on Thursday, hovering around its lowest level in eight weeks as investors set aside trade concerns for now. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.15% at 93.97 by 3:45AM ET (0845GMT), not far from Tuesday's low of 93.88, which was the weakest since July 26. Global markets appear to be shrugging off concerns over and escalating trade war between...
Posted on: Sep 20, 2018 12:57:48 Read More