HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs globally, as it seeks to drive earnings and dividend growth in the face of muted revenue.» Read More
LONDON, Jan 6- The economies of the United States, China and much of the developing world have decoupled from Europe, leaving it to wallow in various stages of recession and fiscal disarray.
Asian stock markets edged higher on Thursday on hopes of a steady economic revival in China although gains were marginal compared to the previous session's strong gains as investors took some money off the table and braced for more U.S. budget battles.
*Euro falls vs firmer dollar as risk appetite fades. LONDON, Jan 3- The dollar rose broadly and the euro fell on Thursday as optimism sparked by a deal to avoid steep U.S. tax rises and spending cuts gave way to concerns more budget wrangling could lie ahead.
*China data underpins gains in Hong Kong, Asia stocks. HONG KONG, Jan 3- Most Asian stock markets edged higher on Thursday on hopes of a steady economic revival in China although oil gave back some of the previous session's strong gains as investors took some money off the table and braced for more U.S. budget battles.
*European, U.S. instability pushes investors toward Africa. DUBAI, Jan 2- Wealthy Gulf Arab companies are boosting their investment in Africa's vast lands and untapped resources, marking a shift for investors who have traditionally directed their money towards assets in the United States and Europe.
Bharti Infratel, backed by billionaire Sunil Mittal, fell as much as 12.7 percent in its trading debut after raising about $760 million in India's biggest IPO in two years, weighed down by a cautious outlook for mobile tower operators.
Asian shares closed mostly higher on Thursday, even though Japan was unable to gain momentum from further stimulus and despite investor worries about the looming "fiscal cliff" deadline, which risks the health of the world's largest economy.
*Investors rotate heavily into HSBC, StanChart. HONG KONG, Dec 20- Hong Kong shares ended at their highest level in nearly 17 months on Thursday trade, as investors rotated into HSBC Holdings and Standard Chartered after taking profits in Chinese banks that outperformed recently.
HONG KONG, Dec 20- Hong Kong shares clung to 17- month highs on Thursday, as strength in HSBC Holdings and Standard Chartered outweighed weakness in Chinese banks as investors rotated out of recent outperformers. *Investors rotated heavily into HSBC Holdings and Standard Chartered.
NEW YORK, Dec 13- Gold held below $1,700 an ounce on Friday, finishing steady on the day but down for a third week, hampered by thin holiday season trading and uncertainties over stalled U.S. budget negotiations.
The Swiss government watered-down a plan to try to clean up the country's image as a haven for untaxed assets.
*Penalty would be more than twice that on Barclays. Such a penalty, more than double the $450 million fine levied on British bank Barclays in June for related conduct, indicates the scope of the misconduct by UBS could dwarf that exposed by Barclays' settlement.
LONDON, Dec 14- Gold held steady below $1,700 an ounce on Friday, with prices heading for their third straight weekly fall, as uncertainty over stalled U.S. budget negotiations to avert a fiscal crisis kept investors on the sidelines.
Swiss bank UBS faces a combined fine of about $1 billion, a person familiar with the situation said on Thursday.
LONDON, Dec 13- Mukhtar Ablyazov, a fugitive Kazakh oligarch accused of embezzling at least $5 billion, declared he would stand for office if free elections are called when the reign of Kazakhstan's powerful president ends.
Japan's Mitsubishi UFJ Financial Group said it will pay $8.6 million as a settlement for transactions that could be seen as violations of U.S. sanctions.
MEXICO CITY, Dec 12- Mexico's industrial output fell more than expected in October as the global slowdown dragged on a key sector in Latin America's No. 2 economy and bolstered expectations of slowing growth towards the end of the year.
*Whitbread, Metso up after earnings. LONDON, Dec 11- European shares rose on Tuesday, helped by news of a sharp rise in German investor sentiment and upbeat earnings reports, although banks lagged gains on concerns over political turmoil in Italy.
*HSBC, Standard Chartered slip after agreeing US fines. *Whitbread, Metso up on earnings news. Heavyweights HSBC and Standard Chartered meanwhile fell 0.6 percent apiece after they agreed separate fines with U.S. regulators following investigations into their business activities.
Dec 11- HSBC Holdings Plc has agreed to pay $1.92 billion to settle a multi-year U.S. criminal probe into money-laundering lapses at the British lender, the largest penalty ever paid by a bank.