BERLIN, May 27 (Reuters) – German Chancellor Olaf Scholz and France’s President Emmanuel Macron warned in a joint opinion piece for the Financial Times that the European Union had to make dramatic efforts to improve its competitiveness or risk seeing its way of living undermined. Among the reforms needed were further efforts to decarbonize the […]
BEIJING, May 27 (Reuters) – China’s latest steps to revive its struggling property market could pose risks to banks operating in lower-tier cities, S&P Global said on Monday. The measures announced earlier this month such as cutting down payment requirements and removing the floor for mortgage rates are expected to temporarily increase property demand, but the increased […]
ALO 5.00%increase; green up pointing triangle is to raise of about 1 billion euros ($1.08 billion) in share capital as its works to reduce its debt levels. The French train maker said Monday that under rights issue, shareholders are entitled to received one preferential subscription right, with five rights enabling holders to subscribe for one new share, […]
STRESA, Italy, May 25 (Reuters) – G7 finance leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to allow vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday. The statement, to be released at the end of a Group of […]
May 26 (Reuters) – Returning Donald Trump to the presidency would be the more “bearish” choice for bond markets, famed bond investor Bill Gross said in an interview with The Financial Times. Gross, once the most influential voice in the market, predicted to the paper, opens new tab that a second Trump presidency would push deficits higher […]
Alibaba Group Holding is selling up to US$5 billion worth of convertible bonds to fund its share buy-backs, as leaders of the Chinese tech giant declared e-commerce and cloud computing as its core businesses in a move “towards strategic clarity”. The Hangzhou-based firm, which owns the South China Morning Post, said it expects to raise close […]
“The widening of sanctions and pressure on friendly countries leads to companies’ reduced export revenue,” the central bank said in a report on financial stability in a section titled “main vulnerabilities”. Russia distinguishes between countries that imposed sanctions over its actions in Ukraine and those that did not by calling them ‘unfriendly’ and ‘friendly’. “Unfriendly […]
May 23 (Reuters) – JPMorgan Chase & Co (JPM.N), opens new tab will pay $100 million and admit it broke U.S. Commodity Futures Trading Commission rules in connection with trade reporting lapses, the regulator said on Thursday. The bank discovered and reported to the agency finding significant gaps in its trading data and order surveillance in June […]
AMELIA ISLAND, Florida, May 24 (Reuters) – In nearly 40 years working for and helping lead the Federal Reserve, Cleveland Fed President Loretta Mester was part of a revolution that saw the U.S. central bank offer ever more detailed and plentiful commentary on the economy and monetary policy. As she heads towards mandatory retirement in […]
A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents. Since last year, Synapse, an Andreessen Horowitz-backed startup that serves as a middle man between customer-facing fintech brands and FDIC-backed banks, has had disagreements with several […]