Posted by editor on March 29, 2017

Toshiba Corp's (T:6502) troubled U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, as its Japanese parent seeks to limit losses that have plunged it into crisis.

A bankruptcy filing will allow Pittsburgh-based Westinghouse, whose nuclear plant projects have been dogged by delays and cost overruns, to renegotiate or break its construction contracts, although the utilities that own the projects would likely seek damages.

Posted by editor on March 28, 2017

 Citigroup (N:C) has formally applied for a license to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a major move to return to the country after a roughly thirteen year absence.

The application has been made with Saudi Arabia's Capital Market Authority (CMA), whose primary role is to regulate and develop the capital market in the oil-rich kingdom, the sources told Reuters.

The sources declined to be identified because of the sensitivity of the matter.

Posted by editor on March 27, 2017

A stronger-than-anticipated economic recovery, the return of inflation and the region's financial sector in a "sweet spot" has spurred Morgan Stanley (NYSE:MS) to lift its earnings forecasts and targets for European benchmark indexes.

The U.S. bank now sees earnings per share growth for 2017 coming in at 16 percent for the MSCI Europe with the index rising as much as 8 percent over the next 12 months. For the FTSE 100 (FTSE), the broker sees EPS growth of 24 percent and sees the index hitting 7,700 in a year.

Posted by editor on March 23, 2017

The Australian dollar slipped lower against its U.S. counterpart on Thursday, although sentiment on the greenback remained vulnerable. Meanwhile, the New Zealand dollar edged up after the Reserve Bank of New Zealand left interest rates unchanged.

AUD/USD slipped 0.25% to 0.7657.

The Australian dollar’s losses were expected to remain limited as the greenback remained under heavy pressure ahead of a key vote on U.S. President Donald Trump’s healthcare bill later in the day.

Posted by editor on March 22, 2017

Bitcoin
regained its footing on Monday, having suffered its heftiest falls since early 2015 between Thursday and Saturday as investors sold the digital currency on worries about its future.

Having soared to an all-time high of $1,350 on the Bitstamp exchange on March 10, on speculation that regulators could approve the first U.S. bitcoin exchange traded fund the following day, the digital currency then slipped back.

Posted by editor on March 21, 2017

SEOUL (Reuters) - Hyundai Motor Co (KS:005380) shares gained the most in over five-and-a-half years on Tuesday on speculation that its parent group, controlled by Chairman Chung Mong-koo, will reorganize its ownership structure.
Hyundai Motor Group may join Samsung Group and possibly other family-owned conglomerates to adopt a holding company structure as politicians call for reform following a graft scandal involving President Park Geun-hye, analysts said.

Posted by editor on March 20, 2017

 Pakistan Prime Minister Nawaz Sharif on Monday ordered the re-opening of the two main border crossings to Afghanistan, after their closure last month following a series of attacks that Islamabad blamed on militants operating from across the frontier.

Relations between the countries have been tense in recent months, with both accusing each other of not doing enough to tackle militants.

Posted by editor on March 17, 2017

German Economy Minister Brigitte Zypries said on Deutschlandfunk radio on Friday that Germany could file a suit against U.S. President Donald Trump over a proposed border tax.

Trump has warned that the United States will impose a border tax of 35 percent on cars that German carmaker BMW plans to build at a new plant in Mexico and export to the U.S. market.

Posted by editor on March 16, 2017

 The Bank of Japan kept monetary policy steady on Thursday in the wake of the U.S. Federal Reserve's second interest rate hike in three months, underscoring the diverging policy paths of major global central banks.

Economists had expected no change in the BOJ's policy settings as rising global protectionist sentiment and an expected series of U.S. rate hikes overshadow budding signs of recovery in the trade-reliant Japanese economy.

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