SINGAPORE (Reuters) -The U.S. Federal Reserve has terminated a decade-long enforcement action against HSBC Holdings PLC under which Europe’s biggest bank by assets was ordered to improve practices after violating money laundering and sanction rules. London-headquartered HSBC was accused in 2012 of degenerating into a “preferred financial institution” for Mexican and Colombian drug cartels and…
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China’s COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports loomed. Brent crude futures…
Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump. Major stock indexes initially climbed broadly following the government’s latest job market report, which showed employers slowed their hiring in August. The report put traders in a buying mood, stoking cautious…
By Stella Qiu SYDNEY (Reuters) – Asian shares struggled for direction on Friday and the dollar stood tall ahead of a key U.S. jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while fresh lockdowns in China fuelled concerns about global growth. However, things look brighter in European markets, with…
(Corrects to say audit inspection starts this month, not next month, in 10th paragraph) BEIJING/SHANGHAI (Reuters) -China will implement its audit agreement with the United States announced last Friday and will strengthen communication with foreign institutional investors, a senior Chinese securities regulatory official said on Friday. The deal between Beijing and Washington will allow U.S….
