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Dollar wallows near 3-year trough, fears of govt shutdown add to woes

Dollar wallows near 3-year trough, fears of govt shutdown add to woes

 TOKYO: The U.S. dollar was lodged near a three-year low against a basket of currencies on Friday with fears over a possible U.S. government shutdown adding to its underlying woes stemming from its eroding yield advantage. The dollar index stood at 90.518, having fallen to as low as 90.104 on Thursday, a level last seen […]

January 19, 2018 | By | Reply More
Ringgit opens higher against US dollar in early session

Ringgit opens higher against US dollar in early session

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar today on improved demand, said a dealer. At 9.12am, the ringgit stood at 3.9410/9450 against the greenback from Thursday’s close 3.9540/9570. Oanda Corp Head of Trading for Asia Pacific, Stephen Innes, said the ringgit was not expected to undergo any surprises or significant […]

January 19, 2018 | By | Reply More
Jan 19: Ringgit opens higher against US dollar

Jan 19: Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar today on improved demand. At 9.12am, the ringgit stood at 3.9410/9450 against the greenback, from Thursday’s close of 3.9540/9570. Meanwhile, the local note traded mostly higher against a basket of other major currencies. It strengthened against the euro to 4.8242/8303 from Thursday’s 4.8290/8339, […]

January 19, 2018 | By | Reply More
Oil prices drop on uptick in U.S. production

Oil prices drop on uptick in U.S. production

 SINGAPORE: Oil prices fell on Friday on a bounce-back in U.S. production, but ongoing declines in crude inventories curbed losses in the market. Brent crude futures were at $68.78 at 0128 GMT, down 53 cents, or 0.8 percent, from their last close. On Monday, they hit their highest since December, 2014 at $70.37 a barrel. […]

January 19, 2018 | By | Reply More
PBOC to inject 230 bln yuan on Friday, adds 590 bln yuan for the week -traders

PBOC to inject 230 bln yuan on Friday, adds 590 bln yuan for the week -traders

SHANGHAI: China’s central bank will inject 230 billion yuan ($35.84 billion) into money markets on Friday, traders said. The People’s Bank of China (PBOC) is injecting 130 billion yuan through seven-day reverse bond repurchase agreements, 90 billion yuan through 14-day reverse repos and another 10 billion yuan through 63-day reverse repos, they said. For the […]

January 19, 2018 | By | Reply More
Uber-SoftBank deal has closed, making SoftBank largest shareholder

Uber-SoftBank deal has closed, making SoftBank largest shareholder

SAN FRANCISCO: A group of investors led by SoftBank Group Corp closed a deal with Uber Technologies Inc on Thursday, making SoftBank the largest stakeholder in the ride-services firm and providing a much-needed boost to controversy-ridden Uber. The deal includes a large purchase of shares from existing Uber investors and employees at a discounted valuation […]

January 18, 2018 | By | Reply More
WhatsApp inches closer to revenue plan with accounts for businesses

WhatsApp inches closer to revenue plan with accounts for businesses

The accounts are aimed at businesses that receive a high volume of WhatsApp messages and need help keeping up SAN FRANCISCO: Messaging application WhatsApp said on Thursday that it would begin allowing business accounts for the first time, a step that brings the free service closer to a plan that would make money for its […]

January 18, 2018 | By | Reply More
HSBC to pay US$100 million to settle US probe into currency rigging

HSBC to pay US$100 million to settle US probe into currency rigging

NEW YORK: HSBC Holdings Plc on Thursday agreed to pay US$101.5 million to settle a US criminal probe into the rigging of currency transactions, which has already led the conviction of one of its former bankers. The payment includes a US$63.1 million fine plus US$38.4 million in restitution to a corporate client, according to a […]

January 18, 2018 | By | Reply More
Judge tosses GM settlement on ignition switch

Judge tosses GM settlement on ignition switch

NEW YORK: A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors Co (GM.N) to pay US$1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable. Judge Martin Glenn of the US Bankruptcy Court in New York said the agreement that car owners […]

January 18, 2018 | By | Reply More
Tax overhaul leads AmEx to first loss in 26 years, suspend buybacks

Tax overhaul leads AmEx to first loss in 26 years, suspend buybacks

NEW YORK: Credit card issuer American Express Co posted its first quarterly loss in 26 years and said it would not buy back shares for the next six months, both due to the impact of the recently enacted US tax overhaul. AmEx shares dropped 2.5% to US$97.20 in trading after the bell on Thursday. The […]

January 18, 2018 | By | Reply More