News

  Bloomberg It’s almost upon us: the week when Britain takes the historic decision of whether to remain in the EU. And whatever the polls say in the days to come — and regardless of the result on June 24 — the pound is set for a wild ride. One-week anticipated volatility surged to the highest on record, posting the ...

  Bloomberg The surge in demand for sovereign debt that drove yields on German government bonds to record lows this week is poised to resume before the U.K. referendum on EU membership on June 23. While yields on the Germany’s 10-year bunds halted a three-week decline on Friday, they dropped below zero on June 14 for the first time on ...

  Bloomberg The U.S. and the European Union should impose stronger sanctions against Russia to kill the country’s plan for a natural gas pipeline supplying Germany because it would raise prices for consumers and jeopardize energy security, said Andriy Kobolyev, chief executive officer of National JSC Naftogaz of Ukraine. Naftogaz, Ukraine’s state oil and gas company, is calling on the ...

  Bloomberg Prices fell and volume surged in a week of heightened anxiety for U.S. investors, whose dreams of reaching a record high anytime soon all but faded away. A streak of six weeks without a 1 percent drop was broken as the S&P 500 Index dropped 1.2 percent to 2,071.22, the worst retreat since April. Shares slid on four ...

  Bloomberg Peruvian legislation allowing workers to tap their pension savings to repay home loans may lead pension funds to sell dollar assets to meet the increased demand for soles, according to central bank President Julio Velarde. The changes will add strength to the sol and hurt credit growth as outstanding mortgage loans decline, Velarde told reporters in Lima. About ...

  Bloomberg After a week in Washington, Saudi Arabia’s deputy crown prince is heading west to meet with technology executives in Silicon Valley and then to New York to pitch his nation’s new economic plan to Wall Street investors. Deputy Crown Prince Mohammed Bin Salman wants to discuss how Saudi Arabia can benefit from innovations spawned in California and then ...

  Washington / AFP Vale SA is holding discussions with Asian mining companies about a potential sale of a minority stake in its Brazilian iron-ore assets that could fetch as much as $7 bn, according to people familiar with the matter. The world’s top iron-ore producer may also consider streaming deals, the people said, asking not to be identified as the ...

  Washington / AFP US regulators have given trading group IEX a green light to launch a new stock exchange, which will operate at a slightly slower speed of trading, the Securities and Exchange Commission said. Investors Exchange (IEX) will introduce a small delay or “speedbump” of 350 milliseconds on orders to buy and sell stock, in an attempt to level ...

  New York / AFP Shares of Oi SA tumbled on speculation that Brazil’s most indebted telecommunications operator is closer to filing for bankruptcy protection after documents showed little sign of progress in talks with bondholders. The documents give a glimpse into just how complicated the restructuring is. Rio de Janeiro-based Oi, which has about 50 billion reais in debt ($14.5 ...

  ABU DHABI / WAM Foreign investors purchased AED 570.7.2 million worth of shares on Dubai Financial Market (DFM) and sold AED 666.5 million over the week, DFM said on Thursday. Net foreign investment on the market reached AED 95.7 million, as aggregate sell. Value of shares bought by foreigner investors comprised 44.4 per cent of the total value of ...