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CNBC's Simon Hobbs reports on all the market moving events in Europe today, including
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NEW YORK, May 17- In the financial world, arbitrage is a trading strategy that earns profit by exploiting price differences between markets. "That's the way we look at it," says Prescher, who lives with his wife, Suzan Haskins, in an apartment with a view of Mount Imbabura. "
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CNBC's Ross Westgate reports on all the market moving events from Europe, as stocks shifted higher despite weak economic data from the U.S. yesterday.
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Both Spain and Italy, which have taken turns at the forefront of the euro zone debt crisis in the past two years, have cashed in on investor appetite for higher-yielding assets this year, spurred by ultra-easy central bank policies.
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MADRID, May 16- The former head of Spanish bank Caja Madrid, now part of nationalized lender Bankia, was remanded in custody on Thursday over accusations of irregularities in the acquisition of a U.S. bank in 2008, a court statement said.
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LONDON, May 16- German Bund futures jumped the most in six weeks on Thursday as weak data out of the United States cast doubt over the strength of the recovery in the world's largest economy. "The march higher in the Bund future was very much driven by the soft patch of U.S. data across the board," said David Schnautz, interest rate strategist at Commerzbank.
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WASHINGTON, May 16- International Monetary Fund staff will visit Madrid on May 21 for their third review of Spain's reforms of its banking system, the IMF said on Thursday. The IMF's monitoring is part of a deal agreed to with Spain in July, and the fund will present a report about its findings on June 3, IMF spokeswoman Angela Gaviria said in a statement.
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BUENOS AIRES, May 16- Argentina has the world's second largest reservoir of unconventional oil after the United States, concentrated in the Vaca Muerta megafield, said Ali Moshiri, president of Latin American and African operations for U.S. oil giant Chevron.
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CNBC's Simon Hobbs reports on all the market moving events in Europe today, as shares turned negative after downbeat economic data from the U.S.
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LONDON, May 16- Solar panels were cheaper than wind turbines for the first time last year in certain markets, per unit of capacity, and are rapidly closing a remaining gap in the full cost of power generation.
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Italy sold 6 billion euros worth of 30- year bonds on Wednesday, its first ultra-long debt sale since 2009. On Tuesday, Spain sold a greater-than-expected 7 billion euros of 10- year bonds. Portugal and Slovenia also issued bonds via syndication deals earlier this month.
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LONDON, May 16- On approaching his 60th birthday this year, long-serving Tullow Oil boss Aidan Heavey told staff he felt "like two 30 year-olds". Peter Voser is giving up one of the world's most challenging CEO roles at Royal Dutch/Shell next year, before his 55th birthday, in pursuit of a "lifestyle change".
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BRUSSELS, May 16- Falling prices in Germany and France pulled euro zone consumer inflation to a three-year low in April while imports fell 10 percent in March, as new data showed the depth of the bloc's downturn.
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GENOA, Italy, May 16- A deepening recession and banking stress tests could find Italy's mid-sized lenders short of billions of euros, putting the state on the hook for a new wave of cash calls and triggering an overhaul of how they do business.
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LONDON, May 16- Italian and Spanish bond yields dipped on Thursday and were seen dropping further as supply pressure eased after the two countries sold large amounts of debt in syndicated deals earlier this week.
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LONDON, May 16- On approaching his 60th birthday this year, long-serving Tullow Oil boss Aidan Heavey told staff he felt "like two 30 year-olds". Peter Voser is giving up one of the world's most challenging CEO roles at Royal Dutch/Shell next year, before his 55th birthday, in pursuit of a "lifestyle change".
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NEW YORK, May 15- U.S. stocks scaled record highs on Wednesday as weak data reinforced expectations that stimulative central bank policies would continue, while evidence that Europe was stuck in recession pushed the euro to a six-week low against the dollar.
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*BG Group, OGX, Total, BP among winners at Brazil auction. RIO DE JANEIRO, May 15- For the first time in nearly five years, Brazil's flagging oil industry has received serious interest from private investors.
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*Disappointing U.S., euro zone data fuel hope of stimulus. NEW YORK, May 15- U.S. stocks climbed to record highs Wednesday as weak data reinforced an expectation that stimulative central bank policies would continue, while evidence that Europe was stuck in recession pushed the euro to a six-week low against the dollar.
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*Fire on April 15 caused by high-voltage cable. LONDON/ NEW YORK, May 15- Angola's hopes of becoming this year's only major new liquefied natural gas supplier suffered another setback in April after fire occurred at its plant just hours before production was to begin.
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Wednesday is the deadline for retailers to decide whether to join the consortium, led by labor groups such as Europe's IndustriALL, which said at least 24 garment and retail brands sourcing from Bangladesh had signed up so far.