(Reuters) – Global oil benchmark Brent crude could rise by $5-$20 a barrel depending on the severity of the Russia-Ukraine crisis, Bank of America (BofA) Global Research said on Tuesday, adding that prices could drop by $2-$4 if tensions de-escalate. Oil hit its highest since 2014 on Tuesday, with Brent futures reaching $99.50 a barrel …
Oil could jump by $20 if Ukraine crisis worsens, says BofA Read More »
By Jamie McGeever ORLANDO, Fla. (Reuters) -Another week, another big win for hedge funds betting on a flatter U.S. yield curve. Futures market data for the week through Feb. 15 show that funds’ extending their bets on a narrower gap between two- and 10-year yields coincided with one of the most dramatic 24-hour periods at …
Funds win again with U.S. curve flatteners: McGeever Read More »
By Nichola Saminather TORONTO (Reuters) – Canadian banks are set to report higher first-quarter earnings from a year ago, thanks to low provisions for credit losses and improving loan demand, but rising costs are a focus area for investors. Analysts expect Canada’s Big Six banks – Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova …
Canadian banks set for 1st-qtr profit growth, but costs, margins could deal blow Read More »
BEIJING (Reuters) – China will from March 1 expand nationwide a pilot scheme developing commercial pension products for the country’s aging population, its banking and insurance regulator said on Monday. Other than six insurers including state-owned PICC Life Insurance, the China Banking and Insurance Regulatory Commission will also allow other pension firms to participate in …
China to expand commercial pension pilot scheme nationwide, regulator says Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -A U.S. federal judge ruled that Nuveen and trustees of its closed-end funds violated the Investment Company Act by stripping hedge fund Saba Capital of its full voting rights at an annual meeting.Saba filed litigation against Nuveen funds and their trustees in early 2021, arguing the asset management company illegally …
U.S. judge rules for Saba Capital in closed-end fund voting litigation Read More »
BEIJING (Reuters) -China’s banking and insurance regulator issued a warning on Friday against using the metaverse as a tool for illegal fund-raising, amid widespread interest in the country’s private sector. The China Banking and Insurance Regulatory Commission said in a statement published on its website that some companies were engaging in illegal fund-raising, fraud, and …
China warns against using metaverse as a tool for illegal fund-raising Read More »
SHANGHAI (Reuters) – China Orient Asset Management said on Friday it was approved to issue up to 10 billion yuan bonds in China’s interbank bond market to resolve risks in the property sector. China Orient is one of China’s four big asset management companies (AMCs) that were originally set up to dispose of non-performing loans …
(Reuters) – South African insurer Discovery forecast on Friday a higher half-yearly profit, supported by new clients at its health insurance business and adequate provisions to cushion the impact of coronavirus-related claims. The company said its headline earnings, the main profit measure in South Africa, were expected to have grown 70%-80% in the six months …
S.Africa’s Discovery forecasts jump in half-yearly profit Read More »
By Matt Scuffham NEW YORK (Reuters) -Goldman Sachs on Thursday upgraded its key profitability targets and set new goals for its asset management, transaction banking and consumer businesses as it laid out its strategy for the next three years. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which profit at …
Goldman Sachs lifts targets in bid to win over skeptics Read More »
NEW YORK (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said the bank’s capital markets business “is down” so far in 2022, even as the investment bank continues to see a strong pipeline of customer activity. Speaking at a banking conference, Moynihan also said consumer spending on childcare is again at pre-pandemic levels, …
Bank of America CEO: capital markets business down, but pipelines are full Read More »
