Bloomberg The dollar gained and US stocks rose after two down weeks as Congress takes a holiday break from tax talks and the closely watched Alabama senate election nears. The Standard & Poor’s 500 Index opened slightly higher at the start of a truncated Thanksgiving week as investors gauge whether there are sufficient drivers to continue the march to historic ...

Reuters Most stock markets in the Middle East fell again on Monday, dampened by geopolitics, although Abu Dhabi was supported by plans for an initial public offer of shares by the distribution unit of Abu Dhabi National Oil Co (ADNOC). Some fund managers think there may be little downside left for Gulf markets now that valuations are no longer high, ...

Bloomberg The European Banking Authority gets a new home, as Brexit forces the regulator and its 180 employees to abandon their high-rise digs in London’s Canary Wharf financial district and relocate to the continent. Eight cities are competing to host the EBA. The prestige of housing the EU’s top banking regulator could lend some extra gloss to major euro-area financial ...

Bloomberg Banca Carige SpA reached agreement with a group of banks to underwrite a share sale of about 500 million euros ($590 million) after key investors pledged their support, allowing the lender to proceed with its restructuring plan. Malacalza Investimenti, Carige’s main investor, agreed to buy 17.6 percent of the stock, while the second-biggest shareholder Gabriele Volpi agreed to oversubscribe ...

Bloomberg Traders were unimpressed with the Turkish central bank’s latest attempt to support the lira, which is wobbling amid concern about the fallout from a US court case, tension with NATO, and President Recep Tayyip Erdogan’s new calls for lower interest rates. While the lira jumped as much as 1.4 percent in thin Asia trading to touch a high of ...

Bloomberg It’s taken longer than expected, but total bank lending in Brazil is primed to bounce back from its recession-induced slump. Even as the country heads into an uncertain election, the banking industry’s credit prospects in 2018 are bright, according to Banco Bradesco SA Chairman and Chief Executive Officer Luiz Carlos Trabuco Cappi. That is, as long as the economy ...

Bloomberg Here’s another reason banks should fear the likes of Amazon.com Inc.: A new survey shows consumers are eager to see technology titans take on finance. Nearly 60 percent of US bank customers are willing to try a financial product from tech firms they already use, according to a survey conducted by consult-ant Bain & Co. For younger respondents, the ...

Bloomberg Alibaba Group’s $2.9 billion deal to buy a slice of China’s largest hypermart chain pits it against Wal-Mart Stores Inc. in the world’s largest retail arena. China’s biggest e-commerce company agreed to acquire 36 percent of Sun Art Retail Group Ltd., which operates about 400 hypermarkets under the Auchan and RT-Mart banners. As part of the deal, France’s Auchan ...

Bloomberg Britain’s exit from the European Union could cost the UK aerospace industry 1.5 billion pounds ($2 billion) in extra customs expenses, the sector’s national lobby group said in a submission to lawmakers. The sum would come from “increased checks at the border” if British and EU processes do not remain harmonised, ADS Group said in evidence to Parliament’s Business, ...

Bloomberg Inflation might be the Grinch that steals Christmas in Britain this year. UK household expenditure is set to fall 0.1 percent from a year earlier during the holidays, according to a report by Visa and IHS Markit published on Monday. The slump will likely emerge as a result of faster price growth and the resulting pinch on incomes. The ...