China’s financial sector opening raises prospect of talent warHONG KONG: In the last two years, more than 30 global asset managers have been awarded licences to set up wholly-owned units in China as they sought a share of the country's $1.5 trillion (£1.12 trill...
In ruins of Greek economy, factories turn to exports to growTHESSALONIKI: Nikolaos Bakatselos, chief executive of Pyramis, one of Greece's last surviving stainless steel sink makers, says he can hardly keep up with new orders. But fewer than ever are going int...
Oil analysts grow more bullish after OPEC extends output dealLONDON: Oil analysts have raised their forecasts for the crude price next year after major producers agreed to extend output cuts, a Reuters poll showed on Wednesday. Political tensions in Saudi Arabi...
Dollar slips versus yen; bitcoin blasts to another highLONDON: The dollar slipped against the yen in a quiet market on Wednesday, with appetite for risk muted as concerns about a possible US government shutdown offset optimism about progress on tax reform...
Cyclicals tug Britain’s FTSE lowerLONDON: The UK's top share index fell back to a two-month low on Wednesday, hurt by renewed weakness in mining stocks and financials, while M&A activity was also in focus. Britain's blue chip FTSE...
EU agrees move to allow swifter, higher dumping dutiesBRUSSELS: The European Union has agreed new rules allowing it to impose duties more rapidly and at a higher level on excessively cheap imports, part of a strategy to shore up its defenses in a new tra...
Baupost expected to make quick profit in Westinghouse bankruptcyPENNSYLVANIA: Hedge funds led by the Baupost Group LLC are poised to score a $170 million profit in less than three months from a bet tied to Toshiba Corp's bankrupt nuclear unit Westinghouse Electric...
US third-quarter unit labour costs revised sharply downWASHINGTON: US unit labour costs were much weaker than initially thought, declining both in the second and third quarters of this year, suggesting that inflation could remain benign for a while. The L...
Bitcoin surges above $15,000 after climbing $2,000 in 12 hoursLONDON: Bitcoin rocketed above $15,000 for the first time on Thursday, after adding more than $2,000 to its price in fewer than 12 hours. Bitcoin, the world's biggest and best-known cryptocurrency, ha...