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  • *Q1 pretax profit $6.1 bln vs $4.3 bln avg expected by analysts. HONG KONG, May 3- HSBC reported a smaller-than-expected 14 percent drop in quarterly profit, as a surge in revenue at its commercial banking unit partly offset the weak trading business caused by the grim global market environment early in the year. HSBC reported on Tuesday a pretax profit of $6.1...

  • DUBAI, May 1- Stock markets in the Gulf were mixed in early trade on Sunday with Saudi Arabia's bourse buoyed by commodity-related shares while banks weighed on United Arab Emirates indexes. Saudi Basic Industries added 1.2 percent; Abdullah bin Mohammed al-Issa, a board member of Saudi Basic Industries, will also join Ma'aden's board. Heavyweight First Gulf...

  • BRIEF-LSE GROUP COMMENTS AT AGM ON DEAL WITH DEUTSCHE BOERSE@. April 27- London Stock Exchange Group Plc. *Group agreed disposal of Frank Russell Company's investment management business for gross proceeds of $1,150 m.

  • NEW YORK, March 30- Jeffrey Gundlach's DoubleLine Capital scaled back exposure in emerging market debt as the sector extended its rally a day after Federal Reserve Chair Janet Yellen signaled a slower path for interest rate hikes. Yellen, in an address at the Economic Club of New York on Tuesday, cited risks to the U.S. economy from global and financial...

  • James Bullard

    The nation's megabanks need to be split up like the old AT&T monopoly in order to foster innovation, St. Louis Fed President Jim Bullard tells CNBC.

  • *Pressures greatest in Bahrain, Oman, much less in UAE. *Lack of data in Bahrain adds to jitters. DUBAI, Feb 25- U.S. dollars are becoming more difficult and expensive to obtain in Gulf money markets since Standard& Poor's sharply downgraded the sovereign credit ratings of three of the region's oil exporters last week, bankers say.

  • Feb 19- Standard& Poor's on Friday left intact its "AA" credit ratings for Warren Buffett's Berkshire Hathaway Inc, saying the company's diversification and "modest" financial risk justify the high grade. Berkshire had been put on review on Aug. 11 for a possible downgrade on concern about Buffett's decision to deploy a large amount of cash toward the $32 billion...

  • BEIJING, Feb 19- China's central bank has reversed preferential reserve requirement ratio cuts for banks that had failed to support certain sectors of the economy as a condition of the more accommodative monetary policy. The People's Bank of China said in a statement on its website it had examined banks' implementations of targeted RRR cuts announced last...

  • NEW YORK, Feb 3- DoubleLine Capital, overseen by widely followed investor Jeffrey Gundlach, said on Wednesday it posted a net inflow of $1.95 billion in January, marking the firm's 24th consecutive month of inflows. The DoubleLine Total Return Bond Fund, the firm's largest fund by total assets, had a net inflow of $1.67 billion in January. The DoubleLine Core Fixed...

  • Who is in a strong position to capitalize on fintech in China

    Wendy Huang, from Macquarie, identifies the pros and cons of the Fintech investments made by the big internet giants Baidu, Alibaba and Tencent.

  • The Singapore state investor said the chairmanship of the panel would rotate during every meeting and Ian Davis, chairman of engineering company Rolls-Royce Holdings Plc, led the inaugural meeting on Jan. 19. The Temasek European Advisory Panel, as the panel is called, boasts of a number of high-profile members, including the chairman of spirits company Diageo...

  • *C.bank to launch Macro-Prudential Assessment in 2016. BEIJING, Dec 29- China's central bank said on Tuesday it will introduce a new system to assess macro-prudential risks in the financial system in 2016 as the country's banking assets become more diversified. Under the existing assessment system, the People's Bank of China uses window guidance and applies...

  • NEW YORK, Dec 16- U.S. top-rated municipal bonds were little changed on Wednesday after the Federal Reserve raised interest rates for the first time in nearly a decade and bond investors adjusted to the likelihood of more increases next year. "We are on a new trajectory and potentially a totally new economic environment," said Jim Colby, chief municipal strategist...

  • FRANKFURT, Dec 16- A sudden drop in asset prices amid prolonged low interest rates poses the "most imminent" threat of potential collective failure among European life insurers, Europe's early warning financial risk body said in a report. National insurance guarantee schemes and recovery and resolution plans in Europe are unlikely to be able to handle a...

  • BOSTON, Dec 14- Billionaire hedge fund manager Marc Lasry on Monday backed a junk bond mutual fund hemorrhaging assets at his Avenue Capital Group as jittery investors exit high-yield bonds amid a market rout. Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the...

  • Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the Third Avenue Focused Credit Fund, which abruptly shut down last week and blocked investor redemptions, fund disclosures show. And Lasry's Avenue Capital, a powerhouse in the distressed investing sector, has...

  • PIMCO headquarters building in Newport Beach, Calif.

    Former UK PM Gordon Brown has become an adviser to Pimco, his first major role in the private sector, the FT reports.

  • MELBOURNE, Dec 3- London copper slipped on Thursday, facing headwinds from ebbing demand growth in top consumer China and a steadily strengthening U.S. dollar. *Fighting stubbornly low inflation, the European Central Bank is expected to ease policy further on Thursday, delivering a cocktail of measures that could include a deposit rate cut and changes to its...

  • What you need to know before you invest in Square

    Adyen President Kamran Zaki explains how the financial services company faces a crowded market.

  • China's wealthy are moving to the U.S. in rising numbers. This banking start-up hopes to capitalize on the migration.