World stocks rise as metals surge mitigates iPhone X woes
LONDON (Reuters) – World stocks edged higher on Wednesday as a strong rally in commodities buoyed expectations for a strong year for the global economy in 2018 and helped mitigate concerns over the technology sector triggered by reports of soft iPhone …
Barclays expects $1.3 billion write-down from U.S. tax reform
LONDON (Reuters) – Barclays expects to take a write-down of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul, the bank said in a statement on Wednesday.
South Korea prosecutors seek 12 years jail for Samsung heir Lee in corruption case
SEOUL (Reuters) – South Korean prosecutors sought a 12-year jail term on Wednesday for Samsung Electronics Vice Chairman Jay Y. Lee, in a corruption case that led to the ouster of the nation’s president earlier this year.
Abu Dhabi’s IPIC says Malaysian fund 1MDB has paid settlement amount in full
KUALA LUMPUR (Reuters) – Abu Dhabi’s government-owned International Petroleum Investment Co (IPIC) on Wednesday said Malaysian state fund 1Malaysia Development Berhad (1MDB) has made all required payments as part of a settlement agreement between the t…
HNA is long-term investor in Deutsche Bank, HNA representative says
FRANKFURT (Reuters) – HNA Group is a long-term investor in Deutsche Bank , the Chinese conglomerate’s representative on the bank’s board told a German newspaper.
Oil remains near 2015 highs on tight market outlook
SINGAPORE (Reuters) – Oil prices on Wednesday remained near two-and-a-half year highs from the previous session as the market outlook for 2018 is relatively tight, although the gradual resumption of flows through a major North Sea pipeline prevented cr…
No Trump windfall for private prisons yet, but some bet on gains
(Reuters) – Investors who bet on private prison operators as big winners from Donald Trump’s tough line on crime and illegal immigration are looking back at a bruising year of high hopes and disappointment. Some, however, say the stocks still offer goo…
Asia stocks up as metals rally signals solid growth outlook
SYDNEY (Reuters) – Asian shares rose on Wednesday with oil and copper prices rocketing to multi-year highs in an uplifting sign for global growth and inflation, while major currencies were becalmed in a holiday-shortened week.
Samsung scion denies corruption charges as legal appeal nears end
SEOUL (Reuters) – The heir to South Korea’s Samsung Group, convicted of bribing the country’s former president, on Wednesday denied allegations of wrongdoing as the appeals trial of his five-year jail term for corruption neared its end.
Oil prices slip away from 2015 highs, but market remains tight
SINGAPORE (Reuters) – Oil prices on Wednesday slipped away from two-and-a-half year highs hit the previous session as the gradual resumption of flows through a major North Sea pipeline made up for supply disruption in Libya.
