Ford of Europe applies for German banking license amid Brexit uncertainty
FRANKFURT (Reuters) – Ford of Europe said it has applied for a German banking license in case the carmaker’s British bank is no longer allowed to offer services on a pan-European basis after Britain leaves the European Union.
Savaged global stocks head for worst week since 2011
LONDON (Reuters) – A 4 percent drop in Chinese shares dealt reeling world stock markets a fresh blow on Friday, as nerves about rising borrowing costs and soaring volatility put them on course for their worst week since the height of euro zone crisis.
How soaring U.S. oil exports to China are transforming the global oil game
SINGAPORE (Reuters) – Bit by bit, the U.S. petroleum industry is turning world oil markets inside out.
Oil slides towards steep weekly loss as supply fears mount
LONDON (Reuters) – Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly losses in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies.
L’Oreal ready to buy shareholder Nestle’s stake in the firm: CEO
PARIS (Reuters) – L’Oreal stands ready to buy Nestle’s 23 percent stake in the firm should its Swiss shareholder choose to sell, and it could finance a purchase through cash, by selling its Sanofi stake or by borrowing, L’Oreal’s CEO said.
Ex-Credit Suisse adviser sentenced to five years for “clever fraud”
GENEVA (Reuters) – Former Credit Suisse client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients and putting in place a fraudulent scheme that brought him tens of millions o…
European share declines limited after another Wall Street sell-off
LONDON (Reuters) – European shares posted limited losses on Friday morning after a fresh sell-off on Wall Street, which has now entered a correction with the benchmark S&P 500 and Dow industrials falling more than 10 percent from their Jan. 26 record highs.
Asia hit by Wall St’s tumble, China stock indexes lose 6 percent
TOKYO (Reuters) – Asian shares sank on Friday, with Chinese equities on track for their worst day in two years, as fears of higher U.S. interest rates shredded global investor confidence.
Trump ‘energy dominance’ policy pits Washington against Moscow
WASHINGTON (Reuters) – Last July, U.S. President Donald Trump stood beside his Polish counterpart, Andrzej Duda, in Warsaw and promised to help wean the nation off Russian energy imports. He offered U.S. fuel as an alternative, “so that you can never b…
Exclusive: China’s Ant plans equity fundraising at potential $100 billion valuation – sources
HONG KONG (Reuters) – China’s Ant Financial Services Group is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion, people familiar with the move told Reuters.
