Tag : Finance News

No stranger to turmoil, Dutch dealmaker Wynaendts set for Deutsche chair

By Tom Sims and Frank Siebelt FRANKFURT (Reuters) - As head of Dutch insurer Aegon, Alexander Wynaendts led a complex European financial institution with staff around the world and a large U.S. presence during a turbulent decade, experience that should serve him well as the next chair of Germany's Deutsche Bank. On Friday, a committee of the bank...

Japan considers releasing oil reserves to curb prices -Kyodo

TOKYO (Reuters) -Japan's government is considering releasing oil from its reserves in response to rising crude oil prices, Kyodo news agency reported on Saturday, without citing sources. It would be the first time for Japan to release oil reserves for the sake of lowering prices, although the country in the past has tapped such reserves when it fac...

Fed's Clarida: global central banks should not coordinate policy

(Reuters) -Central banks in different countries can usefully share analysis and may adopt similar policies in response to common global shocks, but explicit coordination would likely do more harm than good, Federal Reserve Vice Chair Richard Clarida said on Friday. "Adopting formal global monetary policy cooperation could plausibly erode central ba...

Senators weigh in on potential Fed chair candidates as Biden nears pick

By Jonnelle Marte and Ann Saphir (Reuters) - As President Joe Biden nears a decision on appointing a Federal Reserve chair, action over the matter continued to pick up on Friday in the U.S. Senate, which must confirm the choice, with a key moderate Democrat seeking time with the potential nominees and two more progressive lawmakers voicing opposi...

Detroit's Big Three automakers lag industry on fuel economy

By David Shepardson WASHINGTON (Reuters) -Detroit's Big Three automakers, General Motors, Ford Motor Co and Chrysler parent Stellantis lag other automakers in fuel economy performance as they sell a rising number of large trucks and SUVs, a government report released on Friday shows. The U.S. Environmental Protection Agency said fuel economy for ne...

Hong Kong fines ICBC, UBS units, others $5.7 million for anti-money laundering breaches

HONG KONG (Reuters) - Hong Kong's banking regulator has fined four banks, including local units of Industrial and Commercial Bank of China and UBS, a combined HK$44.2 million ($5.67 million) for breaches of anti-money laundering rules. The four banks had failed to carry out appropriate customer due diligence, the Hong Kong Monetary Authority said...

U.S. Thanksgiving dinner cost jumps with inflation on the menu, though deals remain

By Tom Polansek and Christopher Walljasper CHICAGO (Reuters) - Thanksgiving dinner will cost U.S. consumers an average of 14% more this year in the biggest annual increase in 31 years, the American Farm Bureau Federation said, though shoppers can still find deals in grocery stores. Rising food and gas prices are squeezing U.S. consumers as the pa...

European stocks slide as lockdown worries resurface

By Anisha Sircar (Reuters) - European stocks gave up early gains on Friday as concerns over the economic damage from fresh COVID-19 lockdowns in the region hammered cyclical sectors such as banks and automakers. The pan-European STOXX 600 index fell 0.3% after hovering near record highs earlier in the session. It lost ground after news that Austr...

Exclusive: Venezuelan petrochemicals arrive in U.S. despite Washington trade curbs

By Marianna Parraga and Deisy Buitrago HOUSTON/CARACAS (Reuters) - Venezuelan petrochemicals produced by joint ventures between state-run chemical firm Pequiven and foreign partners have arrived in the United States, despite Washington's efforts to limit trade with the OPEC oil and gas producer. At least two cargoes of methanol, a widely used ind...