Reuters•9 minutes agoDollar steadies as Fed minutes weigh on stocks, yuan
China's stock markets were hit hard in a gloomy session for Asian equities. The yuan fell to a two-month low as the U.S. Treasury refrained from naming China a currency manipulator, while at the same time increasing scrutiny of Beijing's exchange-rate policy. Minutes of the Federal Reserve&
Reuters•11 minutes agoFutures lower as oil price drop weighs on energy shares
(Reuters) - Futures for Canada's main stock index were marginally lower on Thursday, as a drop in oil prices led to losses in energy shares. Oil slipped below $80 a barrel as an increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support
- The Canadian Press•18 minutes ago
After Canada legalizes pot, industry eyes rest of the world
Cam Battley is a top executive at one of Canada's biggest marijuana companies, but he isn't sticking around to savour the country's historic pot legalization. "It's a special moment, not just for Canada, but for the world because my strong conviction is that the rest of the world
- The Canadian Press•18 minutes ago
'Some baloney' in assertion Canada's pension fund has highest ethical standards
OTTAWA — "We expect the CPPIB, like other Crown corporations, to live up to the highest standards of ethics and behaviour and that is, in fact, exactly what it is doing." — Finance Minister Bill Morneau during question period Monday in the House of Commons. The New Democrats challenged Morneau
- The Canadian Press•19 minutes ago
European and Asian leaders to boost ties, trade, security
After failing to reach a breakthrough on Britain's divorce terms from the European Union, EU leaders are rolling straight into another summit Thursday, this one aimed at forging closer links with Asia. The Asia-Europe meeting that starts Thursday night with a dinner attended by Belgian King Philippe
- Bloomberg•21 minutes ago
Invesco to Buy OppenheimerFunds, Adding $246 Billion in Assets
Invesco will pay about $5.7 billion including $4 billion of preferred shares and 81.9 million of common stock. The common stock is valued at about $1.7 billion, based on Invesco’s closing stock price Wednesday. The preferred shares will pay a fixed rate of 5.9 percent.
- Bloomberg•21 minutes ago
Blackstone’s Profit Beats Expections as Firm Gathers More Assets
Blackstone Group LP brought in $24.1 billion in new capital in the third quarter, helping the largest alternative asset manager beat profit expectations, according to its earnings report Thursday. Key InsightsAs fundraising in the private equity industry slows this year, Blackstone bucked that trend
- The Canadian Press•21 minutes ago
The Latest: Italian spat on budget points to government rift
The head of one of Italy's two ruling populist parties says unauthorized changes were made to the draft budget, suggesting a possible rift in the coalition government. Luigi Di Maio, the head of the 5-Star Movement, on Thursday threatened to lodge a formal criminal complaint. Premier Giuseppe Conte
- Bloomberg•27 minutes ago
From Euphoria to Angst, Welcome to Earnings Season: Taking Stock
(Bloomberg) -- The feeling leading up to earnings was a bit of unease mixed in with lump-in-the-throat anxiety given the barrage of warnings, misses and preliminary disappointments. That tide appeared to shift Tuesday night the second Netflix’s earnings statement hit the wires and washed away fears of
- Bloomberg•27 minutes ago
Fed Minutes Weigh on Stocks, Bonds; Yuan Slips: Markets Wrap
Fed minutes have left investors with little doubt that rates will keep rising, possibly beyond neutral, three weeks after central bankers signaled their intention to hike before year end. The outlook is testing equity markets again after last week’s sell-off.
Reuters•38 minutes agoNetflix needs lower prices to woo India
In a few short months, the world leader in video streaming has launched a blockbuster Mumbai-based crime thriller, been sued over comments about a former Indian Prime Minister and seen the future of two of its hit shows threatened by the #MeToo movement in India. Helped by a roster that includes top-grossing
- Bloomberg•44 minutes ago
Mad Cow Disease Case Confirmed on Farm in Scotland
The disease was confirmed on a farm in Aberdeenshire in eastern Scotland, according to a government statement. “Its detection is proof that our surveillance system is doing its job,” said Chief Veterinary Officer Sheila Voas. The confirmation of BSE in Scotland raises the risk that other countries
- Bloomberg•48 minutes ago
HSBC Gears Up for China Listing Through Shanghai-London Link
London-based HSBC is the first U.K. company to publicly state an interest in taking part in the program, which will allow firms listed on exchanges in either of the two cities to issue depositary receipts on the other’s venue. “We are studying the proposed framework for the listing of Chinese depositary
Reuters•50 minutes agoMacau billionaire revives dormant theme park project, without theme park
Macau Theme Park and Resort Ltd aims to open an 820 room hotel and leisure facilities costing HK$5 billion ($638 million) by 2020, but without the theme park it initially planned. The firm has held land for the project for almost a decade while seeking permission to build the theme park. With its application
- Bloomberg•58 minutes ago
Life as Rich Banker With Careless Mouth Plagues Poland’s Premier
Instead, local elections are shaping up to be a critical moment for his career, Poland, and even Europe after his past as a prominent banker caught up with his current job as head of the country’s nationalist government. Days before Poles cast their ballots, Morawiecki has been embroiled in a deepening
- Bloomberg•59 minutes ago
American Shoppers Can Say Goodbye to eBay’s $1 Yoga Pants
Trump’s ordering of the U.S. Postal Service to withdraw from an obscure 192-nation postal treaty threatens to hit American shoppers used to bargains on platforms such as EBay Inc. and Amazon.com Inc., where thousands of listings from sellers based in China hawking dirt-cheap consumer goods will likely
- Bloomberg•1 hour ago
China Stock Market Rocked by Forced Sellers; Yuan Hits Fresh Low
Efforts by local governments to shore up confidence in smaller companies failed to boost sentiment. The yuan sank beyond its closely watched August low after the U.S. Treasury Department stopped short of declaring China a currency manipulator, a move that some interpreted as giving Beijing breathing
- Bloomberg•1 hour ago
Khashoggi Saga Deepens Enigma of Saudi Arabia `Black-Box' Stocks
“It’s difficult to invest money in a black box,” said Ekaterina Iliouchenko, a Frankfurt-based money manager at Union Investment Privatfonds GmbH. Saudi Arabia’s “openness to the investor community is a problem,” she said. Crown Prince Mohammed bin Salman wants to wean the kingdom off revenue from
- The Canadian Press•1 hour ago
London's black cabs soon to be seen on the streets of Paris
London's black cabs will be seen on the streets of Paris next year as the company that makes them begins selling its wares in the City of Light. London Electric Vehicle Co., which makes plug-in electric taxis that look like traditional black cabs, has put about 600 vehicles on the streets of London
- Yahoo Finance•1 hour ago
EXCLUSIVE: Walmart's grocery warehouse worker of the future will have a STEM background
Walmart is breaking ground on a new high-tech distribution center in Shafter, California.
- Bloomberg•1 hour ago
Anta Consortium Seeks $4 Billion to Fund Amer Purchase
A total loan size of at least 3.5 billion euros could make it the biggest for a Chinese outbound acquisition so far this year, data compiled by Bloomberg show. The financing would only be finalized if the Anta-led group proceeds to make a binding bid for Amer, according to the people. Anta said last
- Yahoo Finance•1 hour ago
Morning Brief: US stops short of declaring China a currency manipulator
Top news and what to watch in the markets on Thursday, October 18, 2018.
Reuters•1 hour agoOil slips below $80 on rising U.S. stockpiles
U.S. crude inventories rose 6.5 million barrels last week, the Energy Information Administration said on Wednesday, the fourth straight weekly increase and almost three times what analysts had forecast. U.S. crude was down 61 cents at $69.14. "Stocks are building," said Olivier Jakob, oil
- Bloomberg•2 hours ago
European Stocks Gain on Earnings as Spanish Banks Sink on Ruling
(Bloomberg) -- European equities advanced amid a positive start to the region’s earnings season while Spanish banks dropped after the nation’s Supreme Court ruled they must pay mortgage-documentation taxes.
- Bloomberg•2 hours ago
Bribery Probe Hurts One of Southeast Asia's Biggest Projects
The nation’s Corruption Eradication Commission, known as KPK, conducted a search on 10 locations on Wednesday including Riady’s home and the house of a senior executive at Lippo Group who was arrested, KPK spokesman Febri Diansyah wrote in a text message. The moves followed the detention of the Lippo
