Finance

Oil prices rise for first time in three days, but trade war drags

Editorial Bureau October 31, 2018

TOKYO (Reuters) – Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the U.S.-China trade war kept pressure on the market. Brent crude <LCOc1> futures had gained 49 cents, or 0.7 percent, to $76.40 a barrel

Finance

Standard Chartered warns of trade war risks after third quarter profit beats expectations

Editorial Bureau October 31, 2018

HONG KONG/LONDON (Reuters) – Standard Chartered warned on Wednesday an escalating Sino-U.S. trade war was weighing on business sentiment in its core emerging markets, after posting a better than expected 31 percent rise in quarterly profit before tax. The downbeat comments on global trade reflect a more pessimistic tone than the Asia-focused lender’s statement

Finance

Early bitcoin investors count winnings after volatile decade

Editorial Bureau October 31, 2018

NEW YORK/LONDON (Reuters) – Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about $30. On the paper wallet he fashioned to commemorate the gift, the U.S. entrepreneur and software developer wrote: “Do not open until $100,000.” It made Hayner’s grandparents laugh, and indeed bitcoin has not come anywhere near that level. But

Finance

Indian government invokes powers to direct RBI governor – Economic Times

Editorial Bureau October 31, 2018

(Reuters) – The Indian government has invoked never-before-used powers under the RBI Act allowing it to issue directions to the central bank governor on matters of public interest, the Economic Times reported on Wednesday. Separate letters have been sent to the Reserve Bank of India (RBI) governor in recent weeks, exercising powers under the section […]

Finance

Japan grants cryptocurrency industry self-regulatory status

Editorial Bureau October 24, 2018

TOKYO (Reuters) – Japan’s Financial Services Agency (FSA) on Wednesday gave the cryptocurrency industry self-regulatory status, permitting the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations. The government has been reviewing its approach toward an industry that has been hit twice by large-scale thefts. The FSA

Finance

Heera Gold Chairman Nowhera Sheikh under Police custody; Investors panic

Editorial Bureau October 24, 2018

Dubai: Hundreds of investors in the UAE are believed to have been affected by the Heera Group ponzi scam which has left a trail of devastated lives across India and the Middle East. Heera Group was offering 35% returns on investment. 45 Year old, single mother, Nowhera Sheikh was arrested on 25th October by a […]

Finance

Barclays beats profit forecasts despite investment bank costs

Editorial Bureau October 24, 2018

LONDON (Reuters) – Britain’s Barclays beat third quarter profit forecasts on Wednesday and reported higher revenues at its under-pressure investment bank, although its costs rose. The results gave Barclays’ shares an initial lift after it reported a profit before tax of 1.6 billion pounds, excluding litigation and conduct costs, above the 1.33 billion

Finance

Pakistan to seek IMF bailout despite $6 billion Saudi rescue

Editorial Bureau October 24, 2018

ISLAMABAD (Reuters) – Pakistan still plans to seek a bailout from the International Monetary Fund (IMF) despite a Saudi Arabian offer of a $6 billion (4.6 billion pounds) rescue package, Pakistan’s finance ministry said on Wednesday. “Yes, we are going ahead into programme negotiations with (IMF) in the first week of November,” Noor Ahmed, spokesman

Finance

French business growth expanded in October – PMI

Editorial Bureau October 24, 2018

PARIS (Reuters) – – French business activity grew in October from the previous month, a survey showed on Wednesday, as strength in services offset weakness in manufacturing in the euro zone’s second-biggest economy. Data compiler IHS Markit said the preliminary reading for its composite purchasing managers index rose to 54.3 points in October from a […]

Finance

UK households grow less confident about their finances in October – IHS Markit

Editorial Bureau October 22, 2018

LONDON (Reuters) – British households’ confidence in their finances worsened this month as their earnings from employment rose at the weakest rate since February, adding to growing signs of caution among consumers, a survey showed on Monday. The IHS Markit Household Finance Index, watched by the Bank of England as a gauge of consumers’ financial […]