Digital currency sales take off, but with no regulation questions abound
NEW YORK (Reuters) – A small, but rapidly growing number of digital technology start-ups is raising cash by creating and selling their own currencies in offerings that bypass banks or venture capital firms as intermediaries and are outside the reach of…
Banks may be able to sue EU if denied transitional deal: document
LONDON (Reuters) – Banks in Britain are being advised they may be able to sue the European Union if it fails to grant them a staggered departure from the trading bloc using rights from an arcane treaty that usually governs international law.
China set for slower growth, tighter policy in 2017 as government targets asset bubbles
BEIJING (Reuters) – China’s economic growth is expected to cool in 2017 as its top leaders flag tighter monetary policy and further curbs to clamp down on asset price bubbles, especially in the property market, even as a sharp drop in the yuan has fed …
Fairfax Financial to buy Allied World for $4.9 billion in cash and stock
(Reuters) – Toronto-based insurance group Fairfax Financial Holdings Ltd has agreed to buy Swiss insurer Allied World Assurance Company Holdings AG for $4.9 billion in cash and stock, the companies said on Sunday.
Samsung Electronics likely to procure phone batteries from LG Chem: Chosun Ilbo
SEOUL (Reuters) – Samsung Electronics Co Ltd is in talks with LG Chem Ltd to make it one of its smartphone battery suppliers, the Chosun Ilbo newspaper said on Monday – a move that would diversify its supplier base after the failure of its Galaxy Note …
Regional jet makers eye China market boost but obstacles loom
SHANGHAI/MONTREAL/SAO PAULO (Reuters) – New rules governing Chinese airline startups are fueling hopes at Embraer SA , Bombardier Inc and other regional jet makers for a spike in orders next year, but local competition and doubts about size restrictio…
Japan November exports beat expectations as yen tumbles, volumes rise
TOKYO (Reuters) – Japan’s export performance improved strongly in November as rapid decline in the yen and a recovery in overseas demand boosted shipments from the trade sector, handily beating economists’ expectations.
Switching gears, Canada’s BlackBerry to open autonomous vehicle hub
OTTAWA (Reuters) – Canada’s BlackBerry Ltd will open an autonomous driving research center on Monday, as it tries to make itself an indispensable under-the-hood piece of the automotive industry’s weaponry in the self-driving vehicle arms race.
Britain urged to increase cyber security in financial services
LONDON (Reuters) – Britain’s intelligence agencies need to do more to help regulators to protect the financial services industry from cyber crime, the head of an influential parliamentary committee said on Monday.
As yuan weakens, Chinese rush to open foreign currency accounts
SHANGHAI (Reuters) – Zhang Yuting lives and works in Shanghai, has only visited the United States once, and rarely needs to use foreign currency. But that hasn’t stopped the 29-year-old accountant from putting a slice of her bank savings into the greenback.
