SYDNEY, June 5 (Reuters) – The Australian government on Wednesday introduced legislation that would require buy-now-pay-later (BNPL) firms to run credit checks on borrowers, aiming to regulate the rapidly growing sector popular among youth like other consumer credit products. BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over […]
U.S. ignored evidence major U.K. bank was helping fund sanctioned Iranian groups, whistleblower says
Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. London-based Standard Chartered, which primarily serves clients in emerging markets, was previously punished with more than a combined $1.7 billion in fines after admitting in 2012 and 2019 […]
BRUSSELS, June 4 (Reuters) – European Union finance ministers will hold a videoconference on Wednesday on a G7 proposal to leverage Russian central bank assets immobilised in the West to allow Kyiv swiftly to receive a loan of around $50 billion, senior euro zone officials said. The size of the loan has not yet been […]
SHANGHAI, June 5 (Reuters) – The Shanghai and Shenzhen stock exchanges are considering suspending certain value-added market data feeds to institutions such as computer-driven quant funds, two sources said in an effort by Chinese regulators to tighten scrutiny of a sector blamed for contributing to market volatility. The bourses may suspend providing granular transaction details […]
Tencent-backed artificial intelligence (AI) drug researcher QuantumPharm is raising up to HK$1.13 billion (US$144.5 million) in a Hong Kong initial public offering (IPO) from Tuesday, eyeing the first listing under a new regime for pre-revenue specialist technology firms that was introduced more than a year ago. The Shenzhen-headquartered company, also known as XtalPi, is offering […]
A look at the day ahead in U.S. and global markets from Mike Dolan With a still-powerful “buy the dip” instinct in stocks, U.S. markets are having a rare bout of jitters about a slowing economy – with Treasury yields, the dollar and oil prices all swooning over the past 24 hours. Wall Street’s tech-led “bounce-ability” was […]
Days after BHP Group failed to secure the $49 billion takeover of smaller rival Anglo American Plc, investors have one message for Chief Executive Mike Henry — keep your cool. BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on underwhelming projects and ill-timed […]
BERLIN, June 3 (Reuters) – German state lender KfW (KFW.UL) has sold 110 million shares in Deutsche Telekom (DTEGn.DE), opens new tab for 2.5 billion euros ($2.7 billion), it said on Monday, as part Berlin’s plans to sell holdings in companies to invest in the country’s rail network. The shares – equivalent to a 2.2% stake in […]
A Reddit account linked to the meme-stock folk hero posted for the first time in years over the weekend, with a screenshot showing a $116 million position in GameStop stock, plus a big options bet. GameStop shares soared roughly 80% in premarket trading Monday. Other meme stocks also rallied: AMC shares jumped over 20%; Koss advanced more than 12% and BlackBerry shares […]
The spot ether exchange-traded fund (ETF) launched by Chinese fund manager ChinaAMC saw more than HK$5 million (US$640,780) in net inflows as of mid-day Wednesday, after reaching HK$3.77 million on Tuesday, the largest since launch, as investors anticipate US approval of similar products. The ETF saw more than 1.28 million shares traded on Tuesday. On […]