LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs ($17.5 billion) of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS. Under the deal, holders of Credit Suisse AT1 …
Explainer-Why markets are in uproar over a risky bank bond known as AT1 Read More »
PARIS (Reuters) – Shares in French retailer Casino slumped by just over 16% on Friday, in their worst day on record, after rating agency Moody’s cut its long-term debt rating further into junk territory, citing market share losses, weak liquidity and high debt. The stock hit a record low of 5.57 euros ($5.99) before regaining …
Shares in French retailer Casino slump after Moody’s downgrade Read More »
By Dave Sherwood HAVANA (Reuters) – Like a growing number of Cubans, 77-year-old Havana resident Humberto Avila says he will likely sit out Sunday’s legislative elections. The retired university professor says he’s done the math – 470 candidates, 470 open seats – and sees no point in voting. “That’s the same number of candidates as …
As Cuba election day nears, some voters ask, ‘why bother?’ Read More »
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) – A U.S. judge on Friday ordered former Goldman Sachs Group Inc banker Roger Ng to forfeit $35.1 million, after sentencing him to 10 years in prison for helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. U.S. District Judge Margo Brodie in Brooklyn …
Former Goldman banker must forfeit $35.1 million in 1MDB corruption case Read More »
WASHINGTON (Reuters) -A U.S. judge has rejected former President Donald Trump’s bid to prevent ex-aides, including former Chief of Staff Mark Meadows, from testifying before a grand jury probing the Jan. 6, 2021, attack on the U.S. Capitol, ABC reported on Friday, citing sources. The federal grand jury is investigating failed efforts by Trump and …
Ex-Trump aide Meadows, others ordered to testify in Capitol attack probe -ABC Read More »
PARIS (Reuters) – Algeria’s ambassador to France will return to Paris in the coming days, French President Emmanuel Macron’s Elysee office said on Friday, in a move signalling a recovery in relations a month after a diplomatic spat. The Elysee palace said that during a telephone conversation, Algerian President Abdelmadjid Tebboune had told Macron that …
Algerian ambassador to return to France in coming days -Elysee Read More »
By Mohi Narayan and Neha Arora NEW DELHI (Reuters) -Five Russia-bound containers from India’s Jindal Stainless Ltd (JSL) have been stuck at the Belgian port of Antwerp for around a year, unable to enter the European Union, the company said on Friday. “The containers are carrying around 100 metric tonnes of stainless steel,” a company …
Russia-bound Jindal containers stuck at Antwerp port for year -company Read More »
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – Federal Reserve officials on Friday said there was no indication financial stress was worsening as they gathered at a policy meeting this week, a fact that allowed them to stay focused on lowering inflation with another interest rate increase. In separate appearances, three regional Fed bank …
Fed officials say sense of financial stability cleared path for rate hike Read More »
By Angus McDowall TUNIS (Reuters) – If Libya’s legislative bodies are unable to agree on electoral laws in a timely manner “we will look at what alternative we will find”, the U.N. Libya envoy said on Friday, indicating he would not accept moves to derail a march to elections. Envoy Abdoulaye Bathily is seeking to …
U.N. Libya envoy points to ‘alternatives’ if political bodies duck electoral pact Read More »
By Shashwat Chauhan and Johann M Cherian (Reuters) -London stocks fell more than 1% on Friday, with financials stocks extending declines at the end of yet another turbulent week for markets as concerns regarding the condition of the global financial system lingered. Global sentiment was fragile after shares of German behemoth Deutsche Bank took a …
London stocks fall more than 1% as banking crisis fears linger Read More »
