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Top StoriesGlobal Equity Funds See Large Outflows on Slowdown Worries
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Cricket-Fiery Stokes Revives England but S Africa Build Good Lead
Date: August 19, 2022
LONDON (Reuters) – A fiery spell from captain Ben Stokes dragged England back into the match but South Africa remained the happier side as they reached 289 for seven at the close on the second day of the first test at Lord’s on Thursday. Stokes removed Sarel Erwee for 73 and the dangerous Rassie van...
Shares Choppy, U.S. Yields Fall as Investors Digest Fed Minutes
Date: August 18, 2022
By Chibuike Oguh NEW YORK (Reuters) – Global equity markets were choppy and U.S. Treasury yields fell on Thursday, as uncertainty over the pace of interest rate hikes prevailed among investors after the Federal Reserve’s meeting minutes showed officials were determined to curb rising prices. Markets have remained bearish amid concerns about a looming recession,...
Commodity Broker Marex Confident on Full Year After Strong First Half
Date: August 18, 2022
LONDON (Reuters) – Commodities broker Marex posted record profit in the first half amid turbulent markets and rising interest rates and said on Thursday it was confident on the outlook for the full year. London-based Marex, one of the world’s largest privately-owned commodities brokers, said in a statement adjusted pretax operating profit for the six...
Factbox-U.S., European Banks Could Lose Over $5 Billion From Risky Buyout Loans
Date: August 17, 2022
NEW YORK (Reuters) – Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest rates made it tougher for banks to offload...
Analysis-U.S., European Banks Could Lose Over $5 Billion From Risky Buyout Loans
Date: August 17, 2022
By Saeed Azhar, Anirban Sen and Davide Barbuscia NEW YORK (Reuters) – Top U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest...
China’s Tencent Reports First Revenue Drop as Gaming Regulations and COVID-19 Bite
Date: August 17, 2022
By Josh Ye HONG KONG (Reuters) -China’s Tencent Holdings suffered its first ever quarterly sales fall on Wednesday, hurt by a government clampdown on game approvals and playing time as well as COVID-19 lockdowns and a weakening economy that squeezed ad sales. The contraction marks a nadir for the gaming giant and owner of the...