BEIJING— The Standard& Poor's rating agency cut China's credit rating Thursday due to its rising debts, highlighting challenges faced by Communist leaders as they cope with slowing economic growth. Moody's Investors Service cut its own rating for China in May. After the Moody's downgrade in May, the ministry said the agency had used improper methods and...
*Decision comes amid flurry of payments deals in Europe. *Portugal's SIBS, Germany's BS Payone also on the block. FRANKFURT/ LONDON, Sept 20- Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs, sources familiar with the plans told Reuters.
**Germany's Thyssenkrupp and India's Tata Steel agreed on Wednesday to merge their European steel operations, creating the continent's No.2 steelmaker with revenues of 15 billion euros. **Japan's Toshiba Corp agreed on Wednesday to sell its prized semiconductor business to a group led by U.S. private equity firm Bain Capital LP, a key step in keeping the...
**Germany's Thyssenkrupp and India's Tata Steel agreed on Wednesday to merge their European steel operations, creating the continent's No.2 steelmaker with revenues of 15 billion euros. **Japan's Toshiba Corp agreed on Wednesday to sell its prized semiconductor business to a group led by U.S. private equity firm Bain Capital LP, a key step in keeping the...
*Decision comes amid flurry of payments deals in Europe. *Portugal's SIBS, Germany's BS Payone also on the block. FRANKFURT/ LONDON, Sept 20- Swiss stock exchange operator SIX Group has hired JPMorgan to look at options for its payments unit, including a sale worth up to 2 billion Swiss francs, sources familiar with the plans told Reuters.
Sept 14- CME Group Inc, the world's largest futures market operator, said on Thursday it will exit its over-the-counter credit default swap clearing business by mid-2018. The company said it would dissolve the CDS guarantee fund following the exit, freeing $650 million to CDS clearing members. CME said it would now focus its over-the-counter clearing services...
BEIJING— Regulators have ordered Chinese bitcoin exchanges to close, two business newspapers reported Thursday, after uncertainty about the digital currency's future in China caused its price to plunge. Regulators in Shanghai, the country's financial center, gave verbal instructions to exchange operators to shut down, China Business News and 21st Century...
*Frankfurt prosecutors had offered deal to settle case. BERLIN/ FRANKFURT, Sept 14- Deutsche Boerse has agreed to pay fines totalling $12.5 million in a bid to draw a line under allegations of insider trading over share purchases by its chief executive Carsten Kengeter. In July, the German exchange operator said that the Frankfurt prosecutor had offered a deal to...
*Frankfurt prosecutors had offered deal to settle case. BERLIN/ FRANKFURT, Sept 14- Deutsche Boerse has agreed to pay fines totalling $12.5 million in a bid to draw a line under allegations of insider trading over share purchases by its chief executive Carsten Kengeter. In July, the German exchange operator said that the Frankfurt prosecutor had offered a deal to...
DUBAI, United Arab Emirates— Rating agency Moody's said in a report released Wednesday that the three-month-old diplomatic dispute between Qatar and other Arab states has created uncertainty across the Gulf region and could negatively affect the credit outlook of all the countries involved. The report by Moody's Investors Service said persistent...
NEW YORK, Sept 12- Bitcoin "is a fraud" and will blow up, Jamie Dimon, chief executive of JPMorgan Chase& Co, said on Tuesday. Speaking at a bank investor conference in New York, Dimon said, "The currency isn't going to work. "Like it or not, people want exposure to bitcoin," Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc., said at the same conference.
NEW YORK, Sept 12- U.S. regulations enacted after the financial crisis will likely be revisited and watered down but not eliminated in their entirety, in part because they give much-needed clarity to market participants, the head of CME Group said on Tuesday. CME said in April it would shutter its money-losing UK- based derivatives exchange and clearing house...
LONDON, Sept 7- The London Metal Exchange sought on Thursday to win back trading volumes by proposing a cut in fees for trades crucial to its physical user base as rivals gear up to offer alternatives. The exchange has been battling to reverse declines in volumes partly triggered by large rises in trading fees in 2015 that were introduced to lift profits for its...
LONDON, Sept 7- The London Metal Exchange sought on Thursday to lure back volumes by proposing a cut in fees for trades crucial to its physical user base in a bid to ward off competition by rivals. The exchange has been battling to reverse declines in volumes partly triggered by large rises in trading fees in 2015 that were introduced to lift profits for its Hong...
*Shares offered in range of $13- $15 apiece. The Hangzhou- based company, led by Johnny Chou, a former Greater China president for Alphabet Inc's Google, plans to list on the New York stock exchange and the IPO is expected to value Best at up to $5.7 billion. Best's IPO includes 53.56 million new American Depositary Shares, each representing one class A ordinary share,...
Sept 5- S&P Global Ratings warned on Tuesday that it will withdraw its credit rating for the U.S. Virgin Islands within the next 30 days if the territory's government stops providing information to the rating agency. Virgin Island indicated that it would "stop directly providing information to us," as of Aug. 25, said S&P credit analyst Oladunni Ososami.
NEW YORK, Sept 5- Seattle- based asset manager Russell Investments named Michelle Seitz as the firm's new chief executive officer on Monday. Seitz was previously the head of William Blair Investment Management. Russell Investments was previously owned by the London Stock Exchange Group Plc. The private equity firm TA Associates acquired a majority stake in...
NEW YORK, Sept 5- German exchange operator Deutsche Boerse Group has participated in a $5 million equity investment in RegTek. Deutsche Boerse co-led the investment alongside London- based financial technology venture capital firm Illuminate Financial Management LLP, the source said. Spun out of company Risk Focus Inc. earlier this year, New York- based...
NEW YORK, Sept 5- Seattle- based asset manager Russell Investments named Michelle Seitz as the firm's new chief executive officer on Monday. Seitz was previously the head of William Blair Investment Management. Russell Investments was previously owned by the London Stock Exchange Group Plc. The private equity firm TA Associates acquired a majority stake in...
NEW YORK, Sept 5- Seattle- based asset manager Russell Investments named Michelle Seitz as the firm's new chief executive officer on Monday. Seitz was previously the head of William Blair Investment Management. Russell Investments was previously owned by the London Stock Exchange Group Plc. The private equity firm TA Associates acquired a majority stake in...
