22 January, 2015 by The TZ Newswire Staff Comments Off on Global leaders pay respects to Saudi King
Global leaders pay respects to Saudi King
Investors will be keen to see what the succession means for the price of oil.
22 January, 2015 by The TZ Newswire Staff Comments Off on Asia equities surge on ECB boost, euro near 11-year low
Asia equities surge on ECB boost, euro near 11-year low
Asian stocks extended a global rally on Friday after the European Central Bank launched a landmark bond-buying stimulus program that buoyed investors’ risk appetite, drove bonds higher and kept the euro pinned near 11-year lows. Crude oil prices bounced after Saudi Arabia announced that King Abdullah had died and his successor, Salman, moved quickly to name his own heir to rule the world’s biggest oil exporter. “The fear of the unknown is going to be supportive to crude oil prices,” said John Kilduff, partner, Again Capital LLC in New York.
22 January, 2015 by The TZ Newswire Staff Comments Off on Oil jumps as Saudi king’s death feeds market uncertainty
Oil jumps as Saudi king’s death feeds market uncertainty
Oil prices jumped on Friday as news of the death of Saudi Arabia’s King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades. Abdullah died early on Friday and his brother Salman became king in the world’s top oil exporter. Salman named his half-brother Muqrin as heir, moving to forestall any succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders and in oil markets. Brent crude futures rose to a high of $49.80 a barrel shortly after opening before easing back to $49.30 a barrel by 0650 GMT, up 78 cents.
22 January, 2015 by The TZ Newswire Staff Comments Off on Disinflation, weaker growth put pressure on Asian central banks
Disinflation, weaker growth put pressure on Asian central banks
BEIJING/SEOUL (Reuters) – Chinese factories were forced to cut prices for the sixth straight month in January to sell their products, while economic growth in South Korea slowed sharply, raising the prospect of more policy easing from major central banks in Asia. The weak manufacturing reading from China added to expectations that Beijing will have to announce fresh stimulus measures soon, and came a day after the European Central Bank took the ultimate leap and launched a huge bond-buying program as it tries to stave off deflation and kick-start growth.
22 January, 2015 by The TZ Newswire Staff Comments Off on Li Ka-shing’s Hutchison to buy Telefonica UK unit for $15.4 billion
Li Ka-shing’s Hutchison to buy Telefonica UK unit for $15.4 billion
MADRID/HONG KONG (Reuters) – Li Ka-shing’s Hutchison Whampoa Ltd has agreed to buy Telefonica’s British mobile unit O2 for up to 10.25 billion pounds ($15.4 billion), as Asia’s richest man makes his boldest bet yet to revamp his European telecoms business. Hutchison already operates the Three Mobile network in Britain, and buying second-ranked O2 from the Spanish group in Li’s biggest ever takeover will make it the top mobile operator in the country.
22 January, 2015 by The TZ Newswire Staff Comments Off on U.S. banks resign themselves to lower yields for longer
U.S. banks resign themselves to lower yields for longer
U.S. banks, after spending much of the last year bracing themselves for higher bond yields, are now resigning themselves to at least another few quarters of low rates, executives and analysts said. Banks including Wells Fargo & Co and PNC Financial Services Group are contemplating steps like investing their extra cash at current low yields or using derivatives that pay off if rates stay low.
22 January, 2015 by The TZ Newswire Staff Comments Off on China says Microsoft Outlook hacking allegations ‘groundless’
China says Microsoft Outlook hacking allegations ‘groundless’
Allegations that Chinese authorities hacked into Microsoft Corp’s (MSFT.O) Outlook email service are “groundless slander”, the official Xinhua news agency quoted Beijing’s cyberspace regulator as saying late on Thursday. The comments, made by the Cyberspace Administration of China (CAC) spokesman Jiang Jun, were in response to a Monday report by an online censorship watchdog which said that Chinese users of the email service were subject to a hacking attack over the weekend.