Bob Diamond is making a dramatic return to banking, launching a vehicle with Africa's youngest billionaire. The Financial Times reports.» Read More
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
RUGAO, China/ SINGAPORE, Dec 6- Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun serve as a blunt reminder of the area's reliance on China Rongsheng Heavy Industries Group, the country's biggest private shipbuilder. Rongsheng lost an annual record 572.6 million yuan last year, and lost 1.3 billion yuan in the first half of this year.
LONDON, Dec 5- Investors continued to turn their backs on commodity exchange traded products in November with some $2.1 billion in global outflows, capping a dismal year for the gold-dominated asset class which has lost out to a rally in equities.
PARIS/ HONG KONG, Dec 5- Renault has won approval from Beijing authorities to begin Chinese production in a $1.3 billion joint venture with Dongfeng Motor Group, the carmakers said on Thursday. The 50-50 partnership "will allow Renault to deploy its ambitious strategy in the world's largest automotive market", the French company said in a statement.
The Bayswater and Alexa handbags maker generates over 60 percent of sales in the UK, and is now trying to increase its profile overseas, targeting affluent Asian shoppers in key tourist spots and hiking prices to take its brand more upmarket from a traditional position of "affordable luxury".
SYDNEY, Dec 5- Asian markets were mostly under water on Thursday as persistent speculation about the fate of U.S. stimulus lifted bond yields globally, while Japanese shares struggled to find their footing after a spill.
*Asian shares subdued after soft Wall St, Nikkei off again. SYDNEY, Dec 5- Asian markets were mostly under water on Thursday as never-ending speculation about the fate of U.S. stimulus lifted bond yields globally, while Japanese shares struggled to find their footing after a spill.
SYDNEY, Dec 5- Asian markets were off to a nervous start on Thursday as never- ending speculation about the fate of U.S. stimulus lifted bond yields, while Japanese shares tried to find their footing after taking a spill. Foreigners bought a net 368 billion yen worth of Japanese shares in the week through Nov. 30, on top of 709 billion yen in the week before that.
*Asian shares seen subdued after soft finish for Wall St. SYDNEY, Dec 5- Asian markets were off to a nervous start on Thursday as never- ending speculation about the fate of U.S. stimulus lifted bond yields while helping the dollar pare losses against the yen. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade.
BRUSSELS, Dec 4- EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros on Wednesday for rigging financial benchmarks. The other banks penalised are Societe Generale, JPMorgan and brokerage RP Martin.
Better-than-expected data out of India and Indonesia this week suggests the two Asian economies may be better placed to weather the imminent tapering.
BRUSSELS, Dec 3- European Union antitrust regulators will impose multi-million euro fines on six banks including Citigroup, Deutsche Bank and Royal Bank of Scotland on Wednesday for rigging key interest rate benchmarks, sources said.
EU regulators will fine banks including Citigroup and Deutsche Bank for rigging Libor and Tibor becnhmarks, a person familiar with the matter said.
BRUSSELS, Dec 3- European Union antitrust regulators will fine five banks including Citigroup and Deutsche Bank for rigging yen Libor and Tibor interest rate benchmarks, a person familiar with the matter said on Tuesday. The person said the other banks facing sanctions include Royal Bank of Scotland, JPMorgan and Barclays.
LONDON, Dec 3- Copper fell for a second day on Tuesday as growing global supply of the metal outweighed strong manufacturing data, and as concerns grew that the Federal Reserve could end its monetary stimulus earlier than anticipated.
*New impairment rule in 2017, nine years after crisis. LONDON, Dec 3- An accounting rule forcing banks to set aside capital far earlier for troubled loans will be completed next month and start in 2017, a global standard setter said on Tuesday.
LONDON, Dec 3- Copper fell for a second day on Tuesday, touching its lowest in nearly two weeks as continued concern about a trimming in the U.S. economic stimulus progamme and about oversupply outweighed strong manufacturing data.
ISM- New York business activity at 1445 GMT. SINGAPORE, Dec 3- London copper plumbed its lowest in nearly two weeks on Tuesday after surprisingly robust U.S. factory data bolstered expectations the Federal Reserve could trim its commodity-friendly stimulus before year-end.
TOKYO/ SYDNEY, Dec 3- The yen wallowed near six-month lows against the dollar on Tuesday, and five-year lows against the euro and sterling due to prospects of the Bank of Japan taking more stimulus steps. The dollar hit 103.165 yen, inching closer to its May 22 peak of 103.74 yen and last stood at 103.10 yen, up 0.2 percent from late U.S. levels.
NEW YORK, Dec 2- U.S. Stronger-than-expected manufacturing in the United States and abroad spurred selling in U.S. government debt as some traders reconsidered how soon the U.S. central bank might dial back its bond purchases, currently at $85 billion a month, if the economy grows further, albeit at a sub-par pace.