Global funds cut share holdings to five-year lows as Brexit bites
LONDON (Reuters) – Global investors dumped equities in July and raised bond allocations after Britain’s vote to leave the European Union and subsequent signs of damage to economic growth prompted a dash toward fixed income.
Barclays shares jump as transAtlantic refocus starts to pay off
LONDON (Reuters) – A corporate makeover at Barclays under CEO Jess Staley showed signs of paying off on Friday as the British bank reported an improved performance in its key businesses, helping send its shares up more than 7 percent.
VW says regrets Washington decision to pursue $176 million fine
FRANKFURT (Reuters) – Volkswagen said on Friday it regretted the Washington Department of Ecology’s decision to fine it $176 million over its emissions scandal, saying the move ran counter to efforts to resolve U.S. consumer claims collectively.
Rising Chinese interest in overseas deals to underpin European M&A: Credit Suisse
LONDON (Reuters) – Low valuations, weak sterling and continued interest from Chinese companies in overseas dealmaking is likely to see merger activity in Europe pick up again, according to Credit Suisse.
VW’s Audi will miss 2016 profitability goal
BERLIN (Reuters) – Volkswagen’s luxury division Audi will miss its benchmark for profitability this year as costs for the diesel emissions scandal and possible recalls of cars fitted with Takata Corp airbags are weighing on results.
BOJ eases policy by doubling ETF buying, underwhelms expectations
TOKYO (Reuters) – The Bank of Japan expanded stimulus on Friday by doubling purchases of exchange-traded funds (ETF), yielding to pressure from the government and financial markets for bolder action, but disappointing investors who had set their hearts…
Big U.S. brokerages chase the rich in departure from retail roots
NEW YORK (Reuters) – Big U.S. brokerages are redefining the term “wealthy” in their pursuit of ever-richer clients to prop up margins eroded by historically low interest rates and growing regulatory burdens.
Goldman says oil’s rebalancing remains fragile amid macro headwinds
(Reuters) – Oil’s recovering fundamentals remain fragile, with many global factors offsetting each other, leaving a firmer U.S. dollar as the main driver of lower prices recently, Goldman Sachs said in a note this week.
Wholesale California gasoline prices plunge, consumers still pay up
HOUSTON (Reuters) – Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers are still paying the highest prices in the continental United States to fill up thei…
Bezos passes Buffett, becomes third-richest person: Forbes
(Reuters) – Jeff Bezos, the founder and chief executive of Amazon.com Inc , has become the world’s third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshi…
