LAUSANNE, Switzerland (Reuters) – Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets in this month’s banking crisis, the U.S. bank’s head of commodities said. “As losses mounted, it spilled into commodities,” Jeff Currie, global head of commodities for Goldman Sachs, told the Financial Times Commodities Global Summit….
A look at the day ahead in European and global markets from Anshuman Daga Market gyrations are common but the scale of recent moves across asset classes due to a slew of bank takeovers has shocked even the most experienced traders and investors. Safe-havens such as gold and Treasuries are in high demand along with…
(Reuters) – Alphabet Inc’s Google suspended the Play version of PDD Holdings Inc’s Pinduoduo app after malware issues were found on the Chinese platform, a Google spokesperson said on Tuesday. “The Off-Play versions of the e-commerce app that have been found to contain malware have been enforced on via Google Play Protect,” the spokesperson said…
By David Morgan WASHINGTON (Reuters) – Republican U.S. Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank “unable or unwilling to properly regulate” banks in a letter to Fed Chair Jerome Powell. Scott, a Republican known…
By Scott Murdoch, Selena Li and Tom Westbrook (Reuters) – Investors on Tuesday took some heart from the rescue of troubled lender Credit Suisse by its Swiss rival UBS, though concerns lingered about the risk of shockwaves further damaging credit markets and smaller U.S. banks. Attention is now on this week’s meeting of the U.S….
By Davide Barbuscia NEW YORK (Reuters) – Bond giant PIMCO lost about $340 million on a category of Credit Suisse bonds that were wiped out by the takeover by UBS, with the American investment manager’s overall exposure to the Swiss lender running into billions, a source familiar with the situation said. Swiss authorities on Sunday…
By Tom Westbrook SINGAPORE (Reuters) – Asian stocks were lifted from lows on Tuesday, with the rescue of Credit Suisse stemming selling in bank shares, though the mood was fragile and the stress in markets had traders wondering whether U.S. rate hikes might be finished. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%…
By John O’Donnell and Andres Gonzalez ZURICH (Reuters) – Days before a hastily convened press conference late on Sunday that would make the world’s front pages, Switzerland’s political elite were secretly preparing a move that would jolt the globe. While the nation’s central bank and financial regulator publicly declared that Credit Suisse was sound, behind…
By Sarah Morland MEXICO CITY (Reuters) -U.S. construction materials firm Vulcan Materials Co said on Monday that Mexican security forces illegally took possession last week of its port terminal in southern Mexico, as an extended legal battle over its nearby limestone mining activities plays out. The incident took place last Tuesday night at the terminal…
(Reuters) -A former director of Tesla Inc’s Australian unit was sentenced to two years and six months imprisonment and will be released immediately on the condition of “good behaviour”, Australia’s corporate watchdog said on Tuesday. The sentence follows the former director’s guilty pleas to two insider trading offences tied to a supply deal the electric-car…
