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Dollar Soars As U.S. Yields Spike; Global Shares Divided

  The U.S. dollar hit an 11-month peak on Monday as the risk of faster domestic inflation and wider budget deficits if Donald Trump goes on a U.S. spending binge sent Treasury and other benchmark global bond yields ever higher. It was a painful mix for assets in many emerging market countries. Currencies from the […]

Alibaba Smashes Sales Records On Singles’ Day Hype

Alibaba Smashes Sales Records On Singles’ Day Hype

Chinese e-commerce group Alibaba surpassed last year’s Singles Day sales record of $14.3 billion by 3:30 pm (Beijing time) today, after the company pulled out all the stops to ensure a successful shopping bonanza amid a slowing Chinese economy. Gross merchandise value settled through its payment app Alipay reached 91.2 billion yuan ($13.3 billion) shortly after […]

Yen Gains As Election Jitters Weigh On Stocks, Hit Mexican Peso

Yen Gains As Election Jitters Weigh On Stocks, Hit Mexican Peso

Investors are becoming more jittery amid a tightening race for the U.S. presidency, spurring demand for haven assets including the yen while weighing on stocks and Mexico’s peso. Egypt’s currency tumbled as the country switched to a freely floating exchange rate. The yen climbed to a one-month high, U.S. equity index futures fell and the […]

Exxon Boss Tells Peers, Saudis Their Oil Supply Crunch Bet Is Wrong

Exxon Boss Tells Peers, Saudis Their Oil Supply Crunch Bet Is Wrong

Exxon Mobil’s (XOM.N) boss Rex Tillerson told Saudi Arabia’s energy minister on Wednesday that fears of a new global oil supply crunch were exaggerated as the U.S. oil industry was adapting to the low price shock and was set to resume growth. The remarks by Tillerson, who is due to retire before March next year, […]

Nigeria Has Commitments For $500m Of Its Planned Eurobond

Nigeria Has Commitments For $500m Of Its Planned Eurobond

Nigeria has $500 million of commitments for the planned $1 billion eurobond it intends to issue before the end of the year and any decision to increase the size of the offer will depend on pricing, Finance Minister Kemi Adeosun said on Thursday. Nigeria wants to sell a $1 billion in eurobonds by the end […]

Global Stocks Sag As Bond ‘Bloodbath’ Shows No Sign Of Letting Up

Global Stocks Sag As Bond ‘Bloodbath’ Shows No Sign Of Letting Up

Stocks fell on Friday, curbed by the continued surge in global bond yields, while the dollar hit a three-month high against the yen as investors grew more confident that the Federal Reserve will raise U.S. interest rates by the end of the year. Benchmark 10-year U.S. and euro zone yields rose to their highest since […]

Oil Price Declines Weigh On European Markets

Oil Price Declines Weigh On European Markets

European shares fell on Wednesday maintaining a gloomy trend set in Asia and the United States, and with concerns about a global glut of oil looming over the market. Mixed results from the continent’s banking sector and losses in the mining sector pushed the pan-European STOXX 600 index down 0.6 percent. The losses came after […]

Kenya Airways Pilots Delay Strike Plan: Union Head

Kenya Airways Pilots Delay Strike Plan: Union Head

Pilots at Kenya Airways have delayed plans to strike, the head of the pilots’ union said on Monday, after a court ruled the action illegal and the loss-making carrier said a stoppage would further hurt it. The pilots’ union KALPA had called for an indefinite strike to start on Tuesday to protest against the management […]

Watchdog Says About 15 Swiss Banks In Money Laundering ‘Red zone’: SonntagsZeitung

Watchdog Says About 15 Swiss Banks In Money Laundering ‘Red zone’: SonntagsZeitung

Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday. Swiss federal prosecutors last week said that they have opened criminal proceedings against Zurich-based Falcon Private Bank for alleged failure to prevent suspected […]

Kenya Airways Chairman Prepares Exit Ahead of Pilot Walkout

Kenya Airways Chairman Prepares Exit Ahead of Pilot Walkout

Kenya Airways Chairman Dennis Awori said he plans to leave Africa’s third-largest airline after a pilots union called for a seven-day strike to protest against his employment and the position of Chief Executive Officer Mbuvi Ngunze. “‘I see myself leaving, yes,” Awori said by phone on Thursday. “I have begun the turnaround and honestly Kenya Airways needs […]