Money

Money

British Columbia cracks down on hidden ownership amid housing crisis

VANCOUVER, June 20 (Reuters) – British Columbia said on Wednesday it is preparing legislation to crack down on “hidden ownership” in real estate and pledged Canada’s first public registry of property owners, amid concerns that offshore money and criminal investors are helping fuel an affordability crisis. Real estate investors in British Columbia are currently able […]

Money

London court chides FCA as it rejects former UBS trader’s appeal

LONDON (Reuters) – A London court on Wednesday described as “troubling” a case brought by the Financial Conduct Authority (FCA) against a former junior UBS (UBSG.S) trader for alleged Libor interest rate rigging. FILE PHOTO: The logo of the Financial Conduct Authority (FCA) is seen at the agency’s headquarters in the Canary Wharf business district […]

Money

U.S. home sales stumble as prices hit record high

WASHINGTON (Reuters) – U.S. home sales unexpectedly fell for the second straight month in May as an acute shortage of properties on the market pushed house prices to a record high. FILE PHOTO: A “For Sale” sign is seen outside a home in Cardiff, California, U.S. on February 22, 2016. REUTERS/Mike Blake/File Photo The sales […]

Money

PDVSA’s exports sink in June amid seizures, shipping backlog: data

HOUSTON (Reuters) – Venezuelan PDVSA’s oil exports declined 32 percent in the first half of June compared with May, according to internal trade reports from the state-run company, following seizures of some Caribbean assets that disrupted crude and fuel shipments. FILE PHOTO: A worker walks past a mural with a PDVSA logo at its gas […]

Money

UPDATE 1-Easing trade worries help FTSE climb while Berkeley tumbles

* FTSE 100 up 0.3 pct, mid caps up 0.4 pct * Sterling rises after PM May wins parliament Brexit vote * Berkeley falls after warning on profit slump * Ocado tops FTSE 100 on positive broker note (Updates prices,) By Danilo Masoni and Helen Reid MILAN/LONDON, June 20 (Reuters) – Britain’s top share index […]

Money

Top central banks see growing gloom global trade war

SINTRA, Portugal (Reuters) – A developing trade war between the world’s biggest economies is weighing on business confidence and could force central banks to downgrade their outlook, the world’s most powerful policymakers argued on Wednesday. Federal Reserve Board Chairman Jerome Powell speaks at his news conference after the two-day meeting of the Federal Open Market […]

Money

South Africa’s Basil Read applies for suspension of listing

JOHANNESBURG, June 20 (Reuters) – South African construction firm Basil Read Holdings said on Wednesday it had applied to the Johannesburg Stock Exchange for the voluntary suspension of the listing of its shares after a key unit started business rescue proceedings. The cash-strapped company announced on Friday that Basil Read Limited, its wholly owned subsidiary […]

Money

UPDATE 1-Former Anglo Irish Bank CEO jailed for six years for fraud

* Drumm jailed for defrauding investors, false accounting * Most high profile conviction of any banker in Ireland * Ex-CEO went from “humble beginnings” to “dizzying heights” (Adds details, background, quotes) By Conor Humphries DUBLIN, June 20 (Reuters) – The former chief executive of the failed Anglo Irish Bank, David Drumm, was sentenced on Wednesday […]

Money

European shares enjoy timid rebound though trade war fears linger

LONDON (Reuters) – European shares climbed on Wednesday but the modest rebound failed to erase the previous session’s losses as investors’ fears about an ongoing trade dispute between the United States and China lingered. FILE PHOTO: The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, March 19, 2018. […]

Money

Deutsche Bank to pay $205 million to settle NY currency rigging charges

(Reuters) – Deutsche Bank AG (DBKGn.DE) has agreed to pay a fine of $205 million for violations of New York’s banking laws, the state’s department of financial Services said on Wednesday. FILE PHOTO: People are silhouetted next to the Deutsche Bank’s logo prior to the bank’s annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai […]

Money

Sterling pinned at seven-month lows before parliament Brexit vote

LONDON (Reuters) – Sterling slid to a fresh seven-month low against the dollar on Wednesday as concerns over the latest round of Brexit negotiations sapped demand for the British currency before a central bank meeting on Thursday. The new polymer 5 pound Sterling note featuring Sir Winston Churchill, is unveiled at Blenheim Palace in Oxfordshire, […]

Money

World’s biggest central banks fret over impact of escalating trade war

SINTRA, Portugal (Reuters) – A developing trade war between the world’s biggest economies is already weighing on business confidence and could force central banks to downgrade their outlook, the world’s most powerful central bank chiefs argued on Wednesday. Federal Reserve Board Chairman Jerome Powell speaks at his news conference after the two-day meeting of the […]

Money

UPDATE 2-German bond yields pull back from lows on stock market rally

* German Bund yield off 2 1/2-week lows * World risk appetite picks up * Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds Draghi comments, updates prices) By Dhara Ranasinghe LONDON, June 20 (Reuters) – German bond yields pulled back from 2 1/2-week lows on Wednesday as world stock markets put aside trade war fears […]

Money

Special Report: Trump’s catch-and-detain policy snares illegal immigrants long in U.S.

OCILLA, Georgia (Reuters) – Morena Vasquez didn’t want to drive that February night last year, but a co-worker at her job cleaning offices near Atlanta needed some keys dropped off. Morena Vasquez comforts her son Isai Rodriguez, 5, at their home in Rome, Georgia, U.S. February 23, 2018. REUTERS/Chris Aluka Berry “I knew it was […]

Money

U.S. home sales fall, prices hit record high

WASHINGTON (Reuters) – U.S. home sales unexpectedly fell in May as an acute shortage of properties on the market pushed house prices to a record high. FILE PHOTO: A “For Sale” sign is seen outside a home in Cardiff, California, U.S. on February 22, 2016. REUTERS/Mike Blake/File Photo The National Association of Realtors said on […]

Money

WIDER IMAGE-After tower blaze, little help for Sao Paulo squatters

* Photo essay at: reut.rs/2lnJNpj By Lais Martins SAO PAULO, June 20 (Reuters) – For years, 66-year-old Vera Helena, one of the matriarchs of a squatter community occupying an abandoned tower in downtown Sao Paulo, has waited for a call to say she won a slot in the city’s coveted public housing lottery. Never has […]

Money

Greece expects substantive debt relief decisions from Eurogroup

ATHENS (Reuters) – Greece expects euro zone finance ministers to deliver on promised debt relief this week so that it can at last plan its financial future “like any ordinary country”, the government spokesman said on Wednesday. FILE PHOTO: People enjoy the cityscape from atop Lycabettus hill in Athens, Greece, March 26, 2017. REUTERS/Alkis Konstantinidis/File […]

Money

Hungary approves ‘STOP Soros’ law, defying EU, rights groups

BUDAPEST (Reuters) – Hungary’s parliament on Wednesday approved a package of bills that criminalises some help given to illegal immigrants, defying the European Union and human rights groups and narrowing the scope for action by non-governmental organisations (NGOs). Two soldiers stand in front of the Hungarian Parliament building in Budapest, Hungary, May 29, 2018. REUTERS/Bernadett […]

Money

U.S. existing home sales fall for second straight month

WASHINGTON (Reuters) – U.S. home sales unexpectedly fell in May as an acute shortage of properties on the market pushed house prices to a record high. FILE PHOTO: A “For Sale” sign is seen outside a home in Cardiff, California, U.S. on February 22, 2016. REUTERS/Mike Blake/File Photo The National Association of Realtors said on […]

Money

HIGHLIGHTS-Former Malaysian premier Najib talks about 1MDB scandal, seized assets

LANGKAWI, Malaysia, June 20 (Reuters) – Former Malaysian prime minister Najib Razak sat down with Reuters reporters for his first sit-down interview since his shock May 9 election defeat, and talked extensively about the 1MDB scandal, the hundreds of luxury handbags and other assets seized from him by the Malaysian authorities, and how he is […]