LONDON (Reuters) – British financial regulators said on Monday that they would review the way the London Metal Exchange (LME) handled a halt in chaotic nickel trading last month and said the episode underlined questions about LME’s transparency. The Financial Conduct Authority said it and the Bank of England would determine if further action should…
ZURICH (Reuters) – Novartis said on Monday it was integrating its pharmaceuticals and oncology units into an innovative medicines (IM) business to simplify its structure, targeting savings of at least $1 billion by 2024. The Swiss pharmaceutical company said it expects value creation through these operational improvements, ensuring at least 4% sales growth and delivering…
Shares fell Tuesday in Asia and oil prices advanced after a tech-driven rally on Wall Street. Trading was light with many regional markets including those in China closed for holidays. Tokyo’s Nikkei 225 index edged 0.1% lower to 27,705.25 and the Kospi in Seoul also fell 0.1%, to 2,755.36. The S&P/ASX 200 gained 0.7% to…
By Chris Thomas and Nupur Anand BENGALURU (Reuters) -India’s largest private lender HDFC Bank will merge with the country’s largest housing finance company HDFC Ltd to create a financial services conglomerate, the companies said on Monday, sending their shares sharply higher. As part of the deal, shareholders of HDFC Ltd will receive 42 shares of…
By Hannah Lang (Reuters) – Almost half of all cryptocurrency owners in the United States, Latin America and Asia Pacific purchased the digital assets for the first time in 2021, according to a new survey from U.S. cryptocurrency exchange Gemini. The survey of nearly 30,000 people across 20 countries, which was conducted between November 2021…
BENGALURU (Reuters) – Indian private lender HDFC Bank will merge with housing finance firm HDFC Ltd, the companies said on Monday. (Reporting by Chris Thomas in Bengaluru; Editing by Arun Koyyur)
By Wayne Cole SYDNEY (Reuters) – World share markets were mixed on Monday amid talk of yet more sanctions against Russia over its invasion of Ukraine, while bonds continued to spell the risk of a hard landing for the U.S. economy as short-term yields hit three-year highs. A holiday on China made for sluggish trading,…
By Kirsty Needham SYDNEY (Reuters) – Digicel Group said it is considering legal options after Papua New Guinea (PNG) imposed a $100 million tax that the telecoms firm said has potential “implications” for the planned A$2.1 billion ($1.57 billion) sale of the Pacific’s biggest mobile network to Australia’s Telstra. Telstra Corp Ltd said last October…
By Tom Westbrook SINGAPORE (Reuters) – The dollar made a firm start to the week as Treasury yields rose with expectations of rapid-fire U.S. interest rate hikes, while talk of bans on Russian gas kept the euro within sight of its 2022 lows. The euro has been weighed down by worries about the economic damage…
By Florence Tan SINGAPORE (Reuters) – Oil prices extended losses on Monday as investors eyed the release of supplies from strategic reserves from consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East. Brent crude futures fell 79 cents, or 0.8%, to $103.60 a barrel by 0037 GMT while…
