Surprise Stimulus Lifts Tokyo
Japanese markets were rocked Friday after the central bank surprised investors by aggressively expanding stimulus measures, sending the yen plummeting to a near seven-year low and pushing stocks up almost 5%.
BOJ Unexpectedly Eases Policy
The Bank of Japan on Friday unexpectedly announced additional stimulus measures, bolstering its asset purchases for the first time in over a year and a half, as its 2% inflation target looks increasingly untenable.
Japan Mega-Pension Shifts to Stocks
Japan’s mammoth public pension fund is unveils a new asset allocation for its $1.2 trillion portfolio, shifting hundreds of billions of dollars of assets from Japanese government bonds into stocks and foreign assets.
British Less Confident in Economy
The British people are growing less confident about the economy’s prospects, according to data from the GfK Group and the European Commission.
Bad Loans Rise at China's Biggest Banks
Sour loans on the books of China’s biggest banks have increased 22% since the start of the year, as slowing growth and overcapacity in some industries take a toll on the financial sector.
Ruble Rebounds Before Rate Decision
Russia’s battered ruble rallied to its biggest one-day gain against the dollar in nearly six years, on expectations that the country’s central bank is likely to take strong measures to shore up the currency.
TransCanada Files for Energy East Pipeline
TransCanada filed a formal application with Canada’s main energy regulator for a C$12 billion pipeline that would ship landlocked western Canadian crude to refineries on the country’s east coast and offshore.
Japan's SoftBank Takes Hard Look at America Movil Assets
SoftBank Corp., the Japanese telecom and technology giant, is taking a hard look at wireless assets that have been put up for sale by America Movil.
Pouring Political Oil on Troubled Bureaucracy
Brussels Beat: An EU attempt to ban refillable olive-oil containers in restaurants, illustrates how Brussels is run by bureaucrats. Jean-Claude Juncker, who becomes president of the EU’s executive arm Saturday has promised to change that, writes Matthew Dalton.
European Stocks End Higher
European stocks gained in a seesaw session, but banks in Southern Europe remained a weak spot.
Brazilian Markets Rally After Rate Increase
Brazilian markets rallied after a surprising interest-rate increase showed the central bank’s resolve to tame inflation, but the move stoked fears among some business people that economic growth won’t resume soon.
European Bank Stocks Under Pressure
European bank stocks slipped in October, seemingly dismissing satisfactory results from the European Central Bank’s stress tests and data showing a pickup in the appetite for lending—both of which had been expected to cheer investors.
Argentina Borrows $814 Million in Currency Swap
Argentina’s central bank tapped a currency swap line with its Chinese counterpart for the first time, requesting the equivalent of about $814 million at a time when its hard currency reserves are under pressure.
Hong Kong Scions Change Tack
The People’s Money: Hong Kong’s tycoons are trying to keep a low profile as pro-democracy protests simmer, fearful of annoying either Beijing or some city residents. Increasingly, the city’s scions are adapting to a different business environment, with the protests highlighting the need for change.
China Lenders Record Sluggish Profit Growth
Net profits of China’s major lenders grew at a sluggish pace and bad loans climbed as the world’s second-largest economy lost momentum.
Austria's Hypo Alpe-Adria-Bank Splits in Restructuring
Austria’s nationalized lender Hypo Alpe-Adria-Bank International AG said Thursday it has split itself between a wind-down unit, called Heta Asset Resolution GmbH, and its southeastern European network of banks.
China Opens Door on Credit Cards
China is taking a step toward easing its grip on credit cards, potentially allowing foreign companies like Visa, MasterCard and other electronic payment processors to have a greater presence there.
Asian Shares Mixed
Shanghai shares closed at their highest in almost 20 months Thursday, although the performance in other Asian markets was lackluster.
ECB Should Not Follow the Bond-Buying Crowd, Says Council Member
The European Central Bank should refrain from weighing government-bond purchases for the next few months and instead wait to gauge the effects of stimulus measures it has already taken, Ardo Hansson said.
ECB Says Banks Ease Loan Standards
Eurozone banks eased loan standards to the private sector in the third quarter, potentially signaling their increased willingness to offer funds to credit-starved firms and households.
Plan to Limit Sale of Risky Debt
The U.K.’s financial-services regulator proposed a permanent ban on banks selling a certain type of risky debt to retail investors, saying such buyers might not understand the potential dangers.
Norway's Oil Fund Curbed by Losses
European stocks proved a sore point for Norway’s huge oil fund in the third quarter of this year, as it reported a drab 0.1% profit on its investments.
Rousseff Tasked With Keeping Brazil at Investment Grade
Major credit-ratings firms are looking to Brazil’s newly re-elected President Dilma Rousseff to adjust her administration’s policies to preserve the nation’s investment-grade rating.
Markets Are Diverging in the Emerging World
India and Indonesia have benefited from perceptions new leaders will help businesses. The story is different in Brazil, South Africa and Turkey.
Seeking Positives in Negative Yields
Some European bond yields have gone negative as rates hit record lows and lenders are looking for places to park their surplus cash.
Investors See Reasons to Jump Into U.S. Markets
A resurgent dollar is remaking the investment landscape as Fed stimulus ends, in a shift many fund managers expect will propel U.S. stocks, and even bonds, to fresh gains.
Oil Tanks as Supply Overwhelms Demand
A global glut of oil sent prices skidding this summer, and demand is expected to remain soft in the coming months.
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