U.S. bond yields near seven-year high stymie world stocks’ recovery
World stocks flatlined on Wednesday just above eight-week lows, curbed by U.S. long-dated borrowing costs near multi-year peaks, renewed fears for the global economy and the possibility of an Italy-EU clash over budget spending.
Exclusive: German government cuts growth forecasts for 2018 and 2019 – document
The German government has cut its forecasts for growth this year and next in Europe’s largest economy and sees an escalation in the global trade dispute as the main risk for the future, a document seen by Reuters on Wednesday showed.
World’s biggest traders see oil at $65-$100 a barrel next year
The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic.
Swiss top court knocks down bid to extend banking secrecy
Switzerland’s highest court ruled on Wednesday that prosecutors cannot extend Swiss banking secrecy rules to all corners of the globe to pursue whistleblowers and other leakers at foreign subsidiaries.
Snapchat announces new scripted shows to win over users
Snap Inc on Wednesday announced new scripted shows for its photo messaging app Snapchat which will launch this fall and struck partnerships with Hollywood production companies and writers in hopes of reversing its decline in users.
Chinese finance ministry official says ‘optimistic’ on trade war breakthrough
A Chinese finance ministry official said on Wednesday he felt “a little bit more optimistic” on the prospect of breaking an impasse in trade negotiations with Washington, saying both sides are too economically integrated to tolerate a fallout.
Swiss supreme court knocks down bid to extend bank secrecy
Switzerland’s highest court ruled on Wednesday against prosecutors seeking to extend the country’s bank secrecy law to cover whistleblowers wherever they are in the world.
SoftBank upping bet on loss-making WeWork with possible majority stake: source
Japan’s SoftBank Group Corp is in discussions to buy a majority stake in U.S. shared office space provider WeWork Cos, a source said, potentially doubling down on one of its biggest bets on a loss-making startup.
U.S., European regulators investigating Google glitch
At least two U.S. states and two European Union member states are investigating a breach at Alphabet Inc’s Google that may have exposed private profile data of at least 500,000 users to hundreds of external developers.
Stocks flatline after selloff as U.S. borrowing costs hold below multi-year peaks
World stocks inched off eight-week lows on Wednesday as U.S. long-dated borrowing costs held below multi-year peaks, though market gains were checked by fears for global economic growth and the possibility of an Italy-EU clash over budget spending.
