Khiem Do, Head of Asian Multi-Asset at Baring Asset Management, discusses why Chinese financials are trading for less than its book value, despite minimal chances of a bankruptcy in the sector.» Read More
CHICAGO, May 15- Farmland prices in the U.S. Corn Belt softened in the first quarter of 2014, reflecting expectations for lower farm income as grain prices slide, the Federal Reserve Bank of Chicago said on Thursday.
Corn Belt and Delta region of the Midwest eased in the first quarter of 2014 compared with the previous quarter as bidding for grain acreage and rents tracked lower grain prices over the winter and expectations for this year, the Federal Reserve Bank of St. Louis said on Thursday.
CHICAGO, May 15- Crop land prices in the central Plains were steady to weaker in the first quarter of 2014 compared to the previous quarter as lower grain prices weighed on the outlook for farm income this year, the Federal Reserve Bank of Kansas City said on Thursday.
A top Fed official lauded the economic benefits of small businesses, citing demand and limited funding as reasons that loans from banks remain flat.
*EBRD chief says loans to Russia could drop as economy slows. WARSAW, May 15- Lending to Russia by the European Bank for Reconstruction and Development could drop as the economy slows, the bank's head said on Thursday, while it may step up loans to countries at risk of economic damage from the Russia- Ukraine crisis.
LONDON, May 15- European stocks edged higher on Thursday while the euro and debt yields fell as weak euro zone growth data intensified expectations that the European Central Bank will cut interest rates next month. European stocks rose 0.2 percent, having hit a six-year peak, while Germany's DAX set a new record high. The MSCI world equity index was steady.
WARSAW, May 15- The European Bank for Reconstruction and Development's lending to Russia could drop as the economy slows, the bank's president said on Thursday, adding some of its shareholder countries are uneasy about Russia's dealings with Ukraine.
*Nordics increase share of Europe's M&A, listings. STOCKHOLM, May 15- Scandinavia has become a hot spot in Europe's corporate dealmaking scene this year, almost doubling its share of merger and acquisition activity and listing more companies than anywhere but Britain.
It's a shift that could set the stage for New Delhi to follow an influential recommendation by a panel appointed by the central bank to reduce its holdings in the lenders to below 50 percent. The opposition Bharatiya Janata Party, led by prime ministerial front-runner Narendra Modi, is widely expected to form the next government.
LONDON, May 15- European stocks followed Asia higher on Thursday while the euro fell as investors bet central banks in developed markets would continue their monetary support, with the European Central Bank poised to cut interest rates next month.
SINGAPORE, May 15- A Goldman Sachs banker who helped the company win Malaysian state fund 1 Malaysia Development Berhad deals left the bank last month, two people familiar with the move said.
SAN FRANCISCO, May 15- Economists within the Federal Reserve are struggling to size up the strength of the U.S. labor market but can't even agree what yardstick to use.
BERLIN, May 14- The Bundesbank is ready to back ECB policy action if needed but not every measure under discussion is suitable and large-scale asset purchases may well not be, the president of the German central bank said on Wednesday.
NEW YORK, May 14- Benchmark government bond yields in the U.S. and Germany dropped on Wednesday after sources told Reuters a European Central Bank rate cut next month is "more or less a done deal," while U.S. stocks retreated slightly from recent record highs. UK yields also fell after the Bank of England said it was in no hurry to raise rates.
NEW YORK, May 14- Benchmark government bond yields in the U.S. and Germany fell sharply on Wednesday after sources told Reuters a European Central Bank rate cut next month is "more or less a done deal," while U.S. stocks edged off recent record highs. UK yields also fell after the Bank of England said it was in no hurry to raise rates.
Citigroup has fired 11 more people after an internal investigation found lax controls and bogus loans at its Mexico unit, Banamex.
*Fed to buy $350 mln- $600 mln bonds due 2024-2031. Treasuries yields fell to six-month lows on Wednesday, with prices rallying with German government bonds on expectations the European Central Bank will cut interest rates in June as the region grapples with low inflation, even as U.S. producer price data showed solid gains.
TOKYO, May 14- Japan's three biggest banks beat market forecasts with record annual profits, fuelled by a stock market boom, but said earnings will fall this business year as the glow of "Abenomics" fades and lending gains remain restrained.
*Mersch, Praet point to gradual pick up in loan demand. BERLIN, May 14- Top European Central Bank policymakers highlighted on Wednesday the importance of banks being able to meet rising loan demand as the economy recovers, suggesting the ECB may consider another liquidity injection.
BEIJING, May 14- Hong Kong shares hit a three-week high on Wednesday, as property and banking stocks continued to rise after China's central bank urged mainland lenders to speed up the granting of home loans. China Overseas Land& Investment Ltd jumped 4.1 percent and China Resources Land Ltd gained 6.0 percent.
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