Banks probed over automated forex deals Trading platforms at Barclays and Deutsche Bank are being scrutinized by the DFS, Financial Times reports.
Source: Financial Times
| By: Gina Chon in Washington and Ben McLannahan in New York
Red Kite co-founder plans new Orion metals fund - sources NEW YORK/ LONDON, May 22- U.S. mining financier Oskar Lewnowski is preparing to launch a base and precious metals fund, sources say, his latest step in recreating the famed trading and investment enterprise he co-founded a decade ago, Red Kite. Two years after striking out on his own to create private equity investment firm Orion Resource Partners, the 50- year-old...
| By: Josephine Mason and Clara Denina
COLUMN-Funny times in China stocks, joke unclear -James Saft May 21- Many things about China stocks are funny, but probably not right now to investors in Hanergy Thin Film Power Group, Goldin Financial Holdings or Goldin Properties Holdings. Goldin Financial is a short-term commercial lender but has wide-ranging property interests, while Goldin Properties is a developer. Hong Kong's financial regulator in March...
| By: James Saft
China infrastructure push runs up against project delays *China approves nearly 2 tln yuan of projects in year. SHANGHAI, May 22- The concrete building shells, attended by motionless cranes and piles of rubbish, were supposed to be an affordable housing project for nearly 40,000 Shanghai residents, but now stand testament to China's slowing economy. Though China has since the start of last year given the green light to...
| By: Brenda Goh
UPDATE 4-Mexico slashes 2015 economic growth forecast to 2.2-3.2 pct MEXICO CITY, May 21- Mexico's government on Thursday slashed its economic growth forecast to between 2.2 to 3.2 percent this year after data showed the economy grew at its slowest pace in over a year undermined by flagging oil revenue and weak U.S. growth. "The U.S. economy is expected to recover its dynamism during the year, which will strengthen Mexico's non-oil...
| By: Michael O'Boyle
UPDATE 1-Shares of Canadian e-commerce software maker Shopify jump in debut May 21- Shares of Shopify Inc, a Canadian e-commerce software maker, rose as much as 69 percent in their market debut on the New York Stock Exchange, valuing the company at $2.14 billion. Shopify, which also started trading on the Toronto Stock Exchange on Thursday, is the first Canadian company to be listed on a U.S. exchange this year. Shopify's initial public...
Shares of Canadian e-commerce software maker Shopify jump in debut May 21- Shares of Shopify Inc, a Canadian e-commerce software maker, rose as much as 69 percent in their trading debut on the New York Stock Exchange, valuing the company at up to $2.14 billion. Ottawa- based Shopify, which also listed its shares on the Toronto Stock Exchange, sold all the 7.7 million shares in the offering. Morgan Stanley, Credit Suisse, Raymond James...
What's today's $5 billion banking settlement about? Traders at four banks- JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland- conspired to fix rates on U.S. dollars and euros at the expense of clients from 2007 to 2013. Another bank, Switzerland's UBS, agreed to plead guilty to manipulating key interest rates and will pay a separate criminal penalty. In a hypothetical...
Source: The Associated Press
| By: By KEN SWEET, AP Business Writer
Telecoms takeover talk helps lift European shares *Altice surges 11.6 pct on Suddenlink bid, Vodafone also gains. *Burberry shares slide on profit guidance cut. LONDON, May 20- European shares edged higher on Wednesday, extending the previous session's gains, with the telecoms sector getting a big lift from deal-making and takeover talk.
| By: Atul Prakash