Global bond burn from Brexit may now force fiscal response
LONDON (Reuters) – A slump in long-term interest rates since Britons voted to quit the European Union is the clearest financial market verdict on the global impact of ‘Brexit’ – yet another body blow to world growth that may now need a game-changing po…
China Resources Beer plans $1.2 billion rights issue to buy SABMiller’s JV stake
HONG KONG (Reuters) – China Resources Beer (Holdings) Co Ltd said it seeks to raise HK$9.51 billion ($1.2 billion) via a deeply discounted rights offer to part-fund the purchase of SABMiller PLC’s stake in their joint venture.
London’s financial district urges fast action on EU trade terms
LONDON (Reuters) – Britain should move quickly to keep investment flowing and preserve the City of London’s dominance in financial services after last month’s vote to leave the European Union, the head of London’s financial district said on Wednesday.
BOJ-inspired ETFs for big-spending Japan firms struggle to get investors
TOKYO (Reuters) – Japanese asset managers answered the Bank of Japan’s call to set up exchange traded funds comprising companies who invest in their staff and facilities. But investors have not been attracted to the ETFs, even though the central bank i…
Kazakhs, Chevron-led group approve $37 billion Tengiz field expansion
ASTANA (Reuters) – Kazakhstan and a group of oil companies led by Chevron have approved a $36.8 billion plan to boost production at the Central Asian country’s Tengiz field, a rare major investment in an industry hit by low prices and a boost to the l…
Fed’s Williams says Brexit effect as expected, no big deal
SAN FRANCISCO (Reuters) – U.S. market reaction to Britain’s vote to leave the European Union has played out “more or less” as expected, and the impact on the U.S. economy is much less than other that of other events in recent years, a top Federal Reser…
FBI says conducting 30 undisclosed insider trading probes
NEW YORK (Reuters) – The FBI in New York City has undisclosed probes into about 30 suspected insider trading schemes, the agency said, in a sign investigators remains focused on building cases despite a court ruling that could curtail such prosecutions…
Economic growth worries, oil slump drag Wall St. lower
(Reuters) – Stocks fell on Wall Street Tuesday following their best weekly performance of the year as investors faced continued uncertainty in the wake of Britain’s decision to leave the European Union and as tumbling oil prices weighed on energy share…
Oil ends down nearly 5 percent on Brexit worry, supply builds
NEW YORK (Reuters) – Oil prices tumbled nearly 5 percent on Tuesday as investors worried that Britain’s exit from the European Union would slow the global economy, making it unlikely energy demand will grow enough to absorb a supply glut.
Medivation agrees to open its books to Sanofi
(Reuters) – U.S. cancer drug company Medivation Inc said on Tuesday it had agreed to provide confidential information to French pharmaceutical company Sanofi SA as part of exploring a sale that would be open to other bidders.
