By Medha Singh (Reuters) – Wells Fargo & Co shares have rallied ahead of its quarterly earnings later this week as analysts expect the U.S. central bank to lift a damaging asset cap that has curtailed growth at the lender amid signs of rising interest rates. Shares of the San Francisco-based bank have jumped 14% …
Wells Fargo shares race ahead as investors bet on turnaround story Read More »
By Tom Wilson LONDON (Reuters) – The global computing power of the bitcoin network has dropped sharply as the shutdown this week of Kazakhstan’s internet during a deadly uprising hit the country’s fast-growing cryptocurrency mining industry. Kazakhstan became last year the world’s second-largest centre for bitcoin mining after the United States, according to the Cambridge …
Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners Read More »
LONDON (Reuters) – Britain’s financial watchdog said on Friday it has begun criminal proceedings against two former directors of Collateral UK Ltd, a peer-to-peer lender that has now collapsed. The Financial Conduct Authority said brothers Peter and Andrew Currie each face two fraud charges and one proceeds of crime charges, and are due to appear …
British watchdog charges two brothers over collapsed peer-to-peer lender Read More »
SHANGHAI (Reuters) -China’s securities regulator said on Friday it will pilot market-making on Shanghai’s Nasdaq-style STAR Market in a bid to deepen reforms and improve liquidity. Qualified brokerages can apply to act as market-makers on STAR, in a pilot scheme that will be steadily expanded, the China Securities Regulatory Commission (CSRC) said in a statement. …
By Anna Koper and Alan Charlish WARSAW (Reuters) -Poland’s central bank raised interest rates on Tuesday and suggested further tightening was on the horizon as the country grapples with the fastest price growth in over two decades. The National Bank of Poland raised the main rate by 50 basis points to 2.25%, delivering the fourth …
Polish central bank hikes rates, signals more to come Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) – Activist investor Jana Partners is increasing pressure on customer service platform Zendesk to drop plans to buy Momentive Global, the parent of SurveyMonkey, arguing the deal is too expensive and that shareholders oppose it. Jana said new documents show that the acquisition of Momentive appears to have been made …
Activist Jana steps up push for Zendesk to drop deal for Momentive Global Read More »
ZURICH (Reuters) -Zurich Insurance will release about $1.2 billion of capital by selling its Italian life and pensions back book to Portuguese insurer GamaLife, the Swiss company said on Monday. The deal will also add 11 percentage points to its Swiss Solvency Test ratio and reduce credit risk exposure significantly, Zurich said. The transaction is …
Zurich Insurance to sell Italian life and pensions back book to GamaLife Read More »
ZURICH (Reuters) -The Swiss National Bank spent 2.79 billion Swiss francs ($3.05 billion) on foreign currencies during the third quarter, data showed on Friday, representing a decrease in its interventions despite the safe haven franc continuing to rise in value. The figure was less than the 5.44 billion francs spent by the SNB between April …
Swiss National Bank takes gas off forex purchases during Q3 Read More »
By Tommy Wilkes, Saqib Iqbal Ahmed and Elizabeth Howcroft LONDON/NEW YORK (Reuters) – In May, San Diego-based Emily was feeling flush from a year of double-digit gains earned from trading stocks. Equity options, which some fellow stay-at-home investors were dabbling in, would juice up her returns, she decided. Emily was among the army of small-time …
Analysis-Financial literacy or luck? The year small-time traders made a big impact Read More »
(Reuters) – Global equity funds saw massive inflows as risk sentiment returned with investors believing that the Omicron variant won’t bring a big setback to the world economy next year. According to Refinitiv data, investors purchased $33 billion worth of global equity funds in the week ending Dec. 22, compared with an outflow of $13.1 …
Global equity funds see big inflows as risk appetite rebounds Read More »
