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Exclusive: Italy’s UniCredit puts possible Commerzbank bid on ice for now – sources

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LONDON/MILAN (Reuters) – Italy’s UniCredit has put a possible bid for Commerzbank on ice as the German rival does not want to engage in negotiations so soon after the collapse of merger talks with Deutsche Bank, four sources said. FILE PHOTO: A Commerzbank logo is pictured before the bank’s annual news conference in Frankfurt, Germany, Read More

Natixis’ H2O sells some illiquid debt to try to staunch outflows

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PARIS/LONDON (Reuters) – H2O, one of French bank Natixis’ asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money. The business, which contributed about 11% of Natixis’ net income last year, said on Monday the move had led it to Read More

Natixis’ H20 arm sells some of its bonds portfolio

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PARIS (Reuters) – H20, the London-based fund management arm of French bank Natixis which has been hit by outflows of money, said on Monday it had sold some of its bonds portfolio. “H2O has sold part of its non-rated private bonds and, based on a valuation received by international banks, marked down the balance in Read More

Malaysia’s 1MDB criminal case against Goldman Sachs delayed to September

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KUALA LUMPUR (Reuters) – Malaysia’s criminal case against U.S. investment bank Goldman Sachs involving $6.5 billion 1MDB bonds will be postponed to September, a court ruled on Monday, after defense lawyers asked for more time to receive instructions from their clients abroad. FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space Read More

California governor proposes a $21 billion wildfire fund

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LOS ANGELES (Reuters) – California Governor Gavin Newsom has proposed helping utilities create a fund of up to $21 billion to compensate future victims of wildfires sparked by the companies’ equipment or employees, an aide said on Friday. FILE PHOTO: Firefighters keep watch on the Thomas wildfire in the hills and canyons outside Montecito, California, Read More

Energy products are key inputs to global chemicals industry

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June 21, 2019 Source: U.S. Energy Information Administration, based on World Input-Output DatabaseNote: Dollar values are expressed in 2010 U.S. dollars, converted based on purchasing power parity. The industrial sector of the worldwide economy consumed more than half (55%) of all delivered energy in 2018, according to the International Energy Agency. Within the industrial sector, Read More

Asian stocks fail to catch Wall Street’s Fed rally as trade angst persists

4 days ago DieselGasoil Comments Off on Asian stocks fail to catch Wall Street’s Fed rally as trade angst persists
TOKYO (Reuters) – Asian stocks struggled on Friday to follow Wall Street’s euphoria about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded investor sentiment in the region. A passerby walks past in front of a stock quotation board outside a brokerage in Tokyo, Japan, May 10, 2019. REUTERS/Issei Kato Read More

Asian stocks fail to catch Wall Street’s Fed cheer as trade angst dominates

4 days ago DieselGasoil Comments Off on Asian stocks fail to catch Wall Street’s Fed cheer as trade angst dominates
TOKYO (Reuters) – Asian stocks struggled on Friday to track Wall Street’s exuberance about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded the investor mood in the region. FILE PHOTO: A woman wearing a kimono walks past an electronic board showing the Nikkei stock index outside a brokerage in Read More

China could challenge US dollar’s dominance by globalizing the yuan – economist Jim O’Neill

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The “only way that can ever change” the supremacy of the US dollar as a global reserve currency is if there’s a genuine, “long-term alternative,” former chairman of Goldman Sachs Jim O’Neill said. He told CNBC that China could consider expanding the role of its currency. “Some people would say, of course, the ultimate weapon Read More