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Oil prices fall to around $90/bbl in volatile trade
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ASML to report Q3 earnings as China, supply chain questions swirl
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BoE says report of another delay of its bond sales is ‘inaccurate’
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German prosecutors search Deutsche Bank HQ in tax fraud probe
Bank of England: Risk of another fire-sale in gilts significantly reduced
Date: October 18, 2022
LONDON (Reuters) – The Bank of England on Tuesday said liability-driven investment funds were now better prepared to manage shocks like the one triggered by September’s mini-budget, and the risk of another “fire sale” dynamic in gilts had been significantly reduced. Pension funds were forced to offload billions of pounds of UK government bonds, or...
Hurricane Ian claims likely to push Swiss Re to Q3 loss
Date: October 18, 2022
ZURICH (Reuters) -Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately $1.3 billion. “While the 2022 target of 10% Group ROE is unlikely to be reached given the impact from natural catastrophes, the Ukraine war and financial market volatility,...
Turbulent markets jolt currency hedge funds from decade-long slumber
Date: October 18, 2022
By Nell Mackenzie LONDON (Reuters) – Veteran hedge fund manager John Taylor describes one of his favourite Gary Larson cartoons, where one vulture sitting on an animal carcass says to another as more descend: “good friends flying in from all over…this is the best of times”. There is, he says jokingly, a resemblance to the...
Dozens of LNG-laden ships queue off Europe’s coasts unable to unload
Date: October 18, 2022
By Marwa Rashad and Belén Carreño LONDON/MADRID (Reuters) -Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they may have to suspend loading to deal with this “exceptional situation”. Europe is facing an energy supply...
EU emergency oil stocks still low in July after IEA’s joint releases
Date: October 18, 2022
(Reuters) – The European Union’s emergency oil stocks, including crude oil and petroleum products, recovered slightly in July after two coordinated releases drained the levels to a record low in June, the bloc’s statistic office said on Tuesday. The EU held 103.6 million tonnes of emergency oil stocks in July, up 2.5% from the historical...
United States, Japan agree to partner on advanced air mobility
Date: October 18, 2022
By David Shepardson WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) and the Japan Civil Aviation Bureau (JCAB) agreed to partner on advanced air mobility certification and operations, the U.S. regulator said Tuesday. The two countries in Tokyo were set to sign a declaration of cooperation to support future aircraft development and operation and formalizing...