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  • BUENOS AIRES, Dec 11- Argentina's new government is negotiating with a group of Wall Street banks for a credit line worth up to $7 billion to bolster its low foreign reserves and help it lift capital controls, a banking source said on Friday. Center-right President Mauricio Macri, who took office on Thursday, wants to move quickly to remove currency controls that...

  • *Lonmin says 71 pct of shares on offer sold. JOHANNESBURG, Dec 11- Platinum producer Lonmin's deeply discounted $400 million rights issue was undersubscribed, with only about 71 percent of the shares on offer taken up, showing that investors are losing faith in the beleaguered mining sector. Lonmin, seeking cash to stay afloat, said on Friday it had received...

  • SHANGHAI/ LONDON, Dec 10- China's yuan closed down against the dollar for the fifth session on Thursday while the offshore market accelerated away from the onshore rate, stirring speculation over whether the Chinese central bank will intervene to cap any further losses. Traders in London said Chinese sellers of dollars had largely disappeared from the...

  • *Toshiba has 60 pct stake in NuGen project. TOKYO, Dec 10- Toshiba Corp is asking Japanese financial institutions to help fund a nuclear project in northwest England, sources with direct knowledge of the matter said, as the conglomerate seeks ways to ease its financial burden after a $1.3 billion accounting scandal. Toshiba holds a 60 percent stake in the NuGen UK...

  • SHANGHAI, Dec 10- China's yuan closed down against the dollar for the fifth session on Thursday while the offshore market accelerated away from the onshore rate, putting the Chinese central bank's ability to hold the exchange rate stable in question. Zhou Hao, economist at Commerzbank in Singapore, said that offshore traders, who are more inclined to trade...

  • *Will trim 150 billion euros in assets by 2020. AMSTERDAM, Dec 9- Dutch cooperative bank Rabobank plans to lay off nearly a fifth of its workforce to boost profit and prepare for tougher European banking guidelines, it said on Wednesday. The bank said it would shed 9,000 of its 47,000 staff by 2018 and would cut 150 billion euros worth of assets from its balance sheet...

  • *China seen unlikely to hit 3 pct inflation target in 2015. BEIJING, Dec 9- China's consumer inflation picked up slightly in November but remained well under the government's 2015 price target of 3 percent, raising concerns that the world's no. 2 economy could be sucked into a Japan-style deflationary trap. "With corporate confidence already at a six year low,...

  • SHANGHAI, Dec 9- South Korea has set December 15 as the date it will issue 3 billion yuan worth of yuan-denominated bonds in the Shanghai- based Chinese interbank market, South Korea said on Wednesday. In doing so South Korea will become the first foreign country to issue sovereign "Panda" bonds in China. A book-building of the three-year "Panda" bonds will be...

  • HSBC looks to global loan book to boost profits Monday, 7 Dec 2015 | 5:32 PM ET

    NEW YORK, Dec 7- HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States. "Given our global footprint, we are able to originate assets from all over the world, repackage them, and then offer them to the U.S. investor base," said Thierry Roland, HSBC's head of global banking and markets...

  • NEW YORK, Dec 7- The dollar rose broadly on Monday on expectations the U.S. The New Zealand dollar and Norwegian crown were big losers to the greenback as commodity prices tumbled again and traders reckoned central banks would embark on more policy stimulus to help their economies. "It's pretty much a done deal they will move," said Charles St-Arnaud, currency...

  • LONDON, Dec 7- The New Zealand dollar fell 1 percent on Monday before a meeting of the country's central bank where another cut in interest rates is on the table but, many say, not priced in by markets. Some early selling in London drove the kiwi's losses on the day to a full percentage point, and it was down across the board, against the yen, the euro and the Australian...

  • BRUSSELS, Dec 4- EU antitrust regulators have dropped charges against 13 banks including Citigroup and Deutsche Bank for blocking exchanges from derivatives markets, but will continue their case against data company Markit and trade body ISDA. "This closure does not prejudge the outcome of the Commission's investigation regarding Markit, and ISDA, which is...

  • *SPDR Gold Trust sees biggest outflow since 2011. *Silver, platinum bounce back from multi-year lows. LONDON, Dec 3- Gold steadied above an earlier near-six-year low on Thursday, as the dollar reversed gains versus the euro after the European Central Bank cut its deposit rate less than expected.

  • PARIS/ SINGAPORE, Dec 3- French shipping giant CMA CGM has obtained firm commitments from banks to finance the takeover of Singapore's Neptune Orient Lines, which has a market value of $2.2 billion, two people familiar with the deal said. CMA CGM, which is in exclusive talks to initially buy nearly 67 percent of NOL from state investor Temasek Holdings, has tapped...

  • *SPDR Gold Trust sees biggest outflow since 2011. LONDON, Dec 3- Gold hit a near-six-year low on Thursday, as the dollar soared after Federal Reserve chair Janet Yellen hinted at a U.S. rate hike later this month and investors nervously awaited the European Central Bank's policy decision later in the day. "Gold's technical signals are still unsupportive... however,...

  • *Gold extends losses after Yellen's hawkish comments. *SPDR Gold Trust sees biggest outflow since 2011. SINGAPORE, Dec 3- Gold slumped to a near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented the case for a U.S. rate hike this month, while the strength in the dollar also pressured the metal.

  • European shares climb, RWE extends rally Wednesday, 2 Dec 2015 | 3:11 AM ET

    LONDON, Dec 2- European shares rose on Wednesday, buoyed by expectations of new economic stimulus measures from the European Central Bank, while utility RWE outperformed for the second day in a row. RWE, which had surged nearly 17 percent in the previous session on plans to split off parts of its business, rose another 2 percent on Wednesday as analysts at HSBC and...

  • SINGAPORE, Dec 2- Oil prices fell on Wednesday as an unexpected rise in inventories pulled down U.S. crude contracts, while Brent was weighed down by China's bleak economic outlook and a widespread expectation that OPEC will maintain high production. "The market is a little bit skittish ahead of the OPEC meeting, it is going to be very range-bound between now and...

  • Looking to earn more? Why not move here… Wednesday, 2 Dec 2015 | 12:00 AM ET
    The skyline of Doha, in Qatar

    Middle East countries offer the best financial rewards for people thinking of living abroad, according to a survey of 21,950 expatriates.

  • *U.S. slows, Canada and Brazil contract. JPMorgan's Global Manufacturing Purchasing Managers' Index, produced with Markit, slipped to 51.2 in November, just below October's five-month high of 51.3. The global PMI combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.