Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division.» Read More
ALBANY, N.Y., April 8- New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia.
*China stock valuations near cheapest since at least 2004. *Stock mutual funds turning overweight on China- HSBC. *Investors see China reforms improving growth prospects.
LAS VEGAS— A Nevada jury on Tuesday awarded $1.3 million in damages to comedian George Wallace for a leg injury he said he suffered while performing at a Las Vegas Strip resort in 2007..
HONG KONG, April 8- Citigroup Inc said it will close almost one third of its branches in Korea, becoming the third global bank to trim its presence in the country in the last year amid rising costs and intense competition.
BRUSSELS, April 7- Thirteen investment banks, including Citigroup, Goldman Sachs and Deutsche Bank, will fight EU charges of blocking exchanges' access to the credit derivatives market at a hearing next month, three people familiar with the matter said on Monday.
ZURICH, April 7- Credit Suisse faces the threat of a new investigation into its role in helping wealthy Americans avoid paying taxes after New York state's top financial regulator requested documents from the Swiss bank.
WELLINGTON, April 7- New Zealand's Commerce Commission said on Monday that its recent investigation of banks in New Zealand was related to the possibility of foreign exchange rate manipulation.
China will probably need to ease monetary policy for the first time in two years in coming months
BEIJING, April 7- China will probably need to ease monetary policy for the first time in two years in coming months to prevent the economy from losing too much momentum, according to economists who doubt the "mini stimulus" announced so far this year can do the job.
HSBC's composite emerging markets index of manufacturing and services purchasing managers' surveys slipped to 50.3 from 51.1 in February, teetering on the 50 threshold that marks the difference between expansion and contraction.
BEIJING, April 3- A robust services sector will not stop China's economy from slowing into the middle of the year, analysts said after modest government stimulus was seen as a signal authorities want to steady growth to keep their reform drive on track.
April 3- Activity in India's service industry contracted at a faster pace last month as new business fell, although firms hired more staff to meet a small order backlog, a survey showed on Thursday.
BEIJING, April 3- Activity in China's services industry rose to a four-month high in March, a private survey showed on Thursday, even as persistent weakness in manufacturing has reinforced fears of a sharper-than-expected economic slowdown.
NEW YORK/ SAO PAULO, April 1- Brazil's securities industry watchdog CVM on Tuesday lifted a suspension on Grupo Oi SA's 6 billion real share offering, paving the way for the Brazilian telecommunications company's merger with Portugal Telecom SGPS SA.
Highlights included a 100- year bond by Massachusetts Institute of Technology and a USD2.5bn offering of 10 and 30- year securities by Saudi Electricity that saw almost USD13bn of orders. Strong demand also followed Union Electric d/b/a Ameren Missouri, which saw some USD2bn of orders at the peak for just USD350m of 10- year notes.
NEW YORK/ SAO PAULO, April 1- Brazilian telephone company Grupo Oi SA could launch a 6 billion real share offering as early as Tuesday, pending an expected go-ahead from regulators, two sources with direct knowledge of the situation told Thomson Reuters' IFR on Tuesday.
NEW YORK/ LONDON, April 1- Gold fell to a seven-week low on Tuesday after firm U.S. manufacturing data lifted U.S. equities, but strong physical demand from Asia was expected to underpin prices. "Given gold's recent drop below $1,300 an ounce, we have noticed a slight increase in physical demand from Asia.
NEW YORK, April 1- Twelve large banks have been sued in a consolidated antitrust lawsuit by investors who claim they conspired to rig prices in the roughly $5.3 trillion- a-day foreign exchange market.
NEW YORK/ LONDON/ BEIJING, April 1- Manufacturing in Asia and Europe finished the first quarter on a weaker note but activity in the United States remained relatively steady, suggesting severe winter weather in North America had only a modest effect on U.S. factories.
MEXICO CITY, April 1- Mexico's manufacturing sector sentiment declined in March for the second month in a row, a survey showed on Tuesday, but the index still pointed to growth. "This result suggests that the manufacturing sector will keep on growing, but probably at a slower pace," said Sergio Martin, chief economist at HSBC in Mexico.