Few people seen selling yuan for dollars on first day of China’s forex quota re-set
BEIJING/SHANGHAI (Reuters) – China’s authorities have sounded the alarm in recent weeks over the risk of capital outflows from the economy, but there was little evidence at Beijing and Shanghai banks on Tuesday that Chinese individuals were rushing to …
LSE sells clearing business to Euronext in bid to win merger approval
(Reuters) – London Stock Exchange Group has agreed to sell its French clearing business to Euronext for 510 million euros ($534 million), as it seeks to win regulatory approval for its proposed merger with Deutsche Boerse .
Credit Suisse, AstraZeneca among top BofA-ML’s top European picks for first quarter
LONDON (Reuters) – Credit Suisse and AstraZeneca are among Bank of America-Merrill Lynch’s top picks for the first quarter of 2017, as the market is overly pessimistic on both stocks, according to analysts at the bank.
Dollar, global stocks firm as 2017 trading starts in earnest
LONDON (Reuters) – Upbeat data from China helped lift global markets as 2017 trading started in earnest on Tuesday, with the dollar notching its biggest gain in three weeks, oil on a tear and European stocks setting a one-year high.
Indonesia penalizes JPMorgan for ‘underweight’ call: officials
JAKARTA (Reuters) – Indonesia will drop JPMorgan Chase & Co from providing some services to the government after the bank’s research arm said investors should reduce their exposure to the country, senior finance ministry officials said on Tuesday.
China’s economy could grow 6.5 percent in 2017; devaluation could stabilize yuan: think tank
SHANGHAI (Reuters) – China’s economic growth could slow to 6.5 percent this year from about 6.7 percent in 2016, a government-run think tank said on Tuesday, while suggesting a one-off devaluation could help stabilize the yuan currency.
Bitcoin jumps above $1,000 for first time in three years
LONDON (Reuters) – Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016.
South Korea bans sales of some Nissan, BMW and Porsche models
SEOUL (Reuters) – South Korea has banned the sale of 10 models of Nissan, BMW and Porsche vehicles after the carmakers were found to have fabricated certification documents, in the latest fallout from the Volkswagen emissions scandal.
New Year, new high for euro zone stock markets
LONDON (Reuters) – Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years.
Apple partner Wistron seeks to expand India smartphone parts plant: government official
MUMBAI (Reuters) – Smartphone component maker Wistron Corp, which counts Apple Inc among its customers, has applied for permission to expand its plant in the Indian city of Bengaluru, a high-ranking regional government official said on Monday.
