Oil fell on Thursday, as unseasonably weak demand and plentiful supplies of crude and refined products offset strong Chinese factory data.» Read More
Swiss bank UBS saw 15.4 percent growth in its wealth management business for 2013, firmly securing its position as world leader in the sector.
**September 2012: Agrees to pay $2.43 billion to settle claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch& Co at the height of the financial crisis.
*Gold fixing company launches request for proposals. LONDON, July 16- London Gold Market Fixing Ltd, the company operating the century-old global price benchmark known as the "fix", said it is seeking a third party to take over administration of the process, possibly signalling a move to an electronic platform.
*Gold steady after biggest 2- day loss since Oct, down 3.3 pct. LONDON, July 16- Gold steadied around 1,300 an ounce on Wednesday as investors found value after two days of losses, but was still trading near a four-week low on a stronger dollar and fears the Federal Reserve could raise U.S. interest rates sooner than expected.
LONDON, July 16- A statement on reforming the century-old system of benchmarking gold prices is expected imminently ahead of the implementation of new regulations governing financial benchmarks, a source familiar with the matter said on Wednesday.
*BoE says UK banks have "dreadful record" of mis-selling. LONDON, July 15- The Bank of England said on Tuesday that British banks had a "dreadful record" on mis-selling complex interest rate hedging products to small businesses and warned that it would keep a close eye on them.
The Bank of Japan on Tuesday stuck to its stimulus program and projections that inflation will reach its 2 percent target next year, but bit trimmed its 2014 growth target.
BEIJING, July 14- China's fiscal expenditure surged 26.1 percent in June from a year earlier to 1.65 trillion yuan, reflecting government efforts to speed up spending to shore up the economy.
A central bank decision in Japan and second-quarter gross domestic product (GDP) from China will be the key events in Asia this week.
Financiers are grumbling that the U.S. is acting like an imperial power in punishing foreign banks for dealings beyond U.S. territory.
Record levels in India's stock markets amid continued post-election euphoria have raised concerns over whether a correction is due, but analysts say the bulls'rein will continue for some time.
When Japan's PM Shinzo Abe came to power, he hoped a weaker yen would give exporters a boost and spur the inflation needed to revive Japan's economy.
LONDON/ HONG KONG, July 13- Financiers may grumble that the United States is acting like an imperial power in punishing foreign banks for dealings far beyond U.S. territory, but in the end they are more likely to bow to Washington than kick against its dollar muscle.
*BoE outlines two possible leverage ratio supplements. LONDON, July 11- The Bank of England proposed on Friday that Britain's biggest banks should set aside from 2019 more capital than planned under global rules being drawn up to prevent a repeat of the financial crisis.
*Central Bank outlines two possible leverage ratio supplements. LONDON, July 11- The Bank of England proposed on Friday that Britain's biggest banks should set aside from 2019 more capital than planned under global rules being drawn up to prevent a repeat of the financial crisis.
"We believe that freedom of expression, including of the press, has played an important part in Hong Kong's success," the report, made available by the British Consulate General in Hong Kong, said.
HONG KONG, July 11- Hong Kong's benchmark index finished flat on Friday and had its biggest weekly losses in two months, weighed down by underperforming banks and property counters. The Hang Seng Index closed little changed at 23,233.45, down 1.3 percent on the week- the largest loss since the week ended May 9.
Rising Asia corporate debt levels may make investors nervous after missed debt payments by a Portugal conglomerate spurred renewed default fears.
NEW YORK/ LONDON, July 10- Gold surged to 3-1/ 2 month highs on safe-haven buying on Thursday after questions raised about the health of Portugal's top-listed bank sparked worry that a new euro zone banking crisis might be in the offing.
*Bullion at March 19 high after worry of another Europe contagion. NEW YORK/ LONDON, July 10- Gold hit 3-1/ 2 month highs on Thursday on safe-haven buying sparked by worries about Portugal's top listed bank, and after India kept record high duties on bullion that could prompt traders who did not buy gold earlier to return to the market.