By Lucy Raitano LONDON (Reuters) -Investors ploughed cash into stocks and bonds and sold cash and gold in the week to Wednesday, BofA Global Research said on Friday, hailing the end of “extreme bear sentiment”. Equity inflows totalled $18 billion and bond funds saw $2.3 billion of inflows while investors sold $0.2 billion of gold…
FRANKFURT (Reuters) – The European Central Bank has banned its top officials from picking stocks and bonds or making short-term trades after a string of scandals at the Federal Reserve and backlash at home. Rate setters and bank supervisors at the ECB will no longer be allowed to invest in individual stocks or bonds but…
SHANGHAI (Reuters) – China aims to restore the country’s average daily passenger flight volumes to 70% of 2019 levels by Jan. 6, financial news outlet Caixin reported on Friday citing a document from the aviation regulator. The aim is part of a work plan the Civil Aviation Administration of China issued on Wednesday to encourage…
By Sinchita Mitra (Reuters) – The World Cup, cold weather and a lack of disposable income have left British punters spending less at casinos, gaming operator Rank Group said on Friday, and warned of lower annual profit, prompting its shares to drop 9%. The owner of the Mecca and Grosvenor Casinos brands said the soccer…
By Sinead Cruise, Kate Holton and Dhara Ranasinghe LONDON (Reuters) – Major investors are rethinking their support for Britain’s economy following months of political turmoil and persistent Brexit uncertainties, as experts predict its recovery from a global recession will be slow and painful. While governments worldwide are grappling with high inflation and low growth, UK…
(Reuters) – The Bank of Japan will be the last of the major central banks to hold a policy meeting this year, and policy-makers in emerging economies also mark the year-end with rates decisions. The state of the U.S. housing market is in focus, while in Europe unusually cold weather has raised concerns of electricity…
By Jihoon Lee SEOUL (Reuters) -South Korea’s mammoth state pension fund will hedge foreign exchange risks for up to 10% of its overseas investment compared with zero up to now, the welfare ministry said on Friday, a move expected to ease dollar demand on the onshore FX market. The fund has grown in size and…
(Corrects Dec. 15 story to change Robert Dishner’s location in paragraph 33 to London from Chicago. No other changes to text.) LONDON (Reuters) -The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase – and its eighth this year. The BoE,…
By Nell Mackenzie LONDON (Reuters) – Well-known activist short-selling hedge funds expect to find more companies squeezed by tough economic conditions in 2023, potentially increasing instances where balance-sheet sinkholes are hidden. Some $321 billion worth of U.S. and European speculative-grade debt is due for refinancing over the next 12-14 months. Defaults may double in 2023,…
TOKYO (Reuters) -Sony Group Corp is considering an investment of about 800 billion yen ($5.83 billion) to build a factory to make smartphone image sensors in western Japan, the Nikkan Kogyo newspaper said on Friday. The plant would be located in Kumamoto prefecture and Sony plans to bring it online in 2025 at the earliest,…
