HSBC’s 2017 profit jumps but below view

HSBC’s 2017 profit jumps but below view

article The HSBC bank logo is seen at their offices in the Canary Wharf financial district in London. REUTERS/Reinhard Krause/File Photo HSBC Holdings’ pre-tax profit for 2017 more than doubled due to the absence of hefty restructuring costs incurred in the prior year but still lagged expectations as the bank took a writedown following U.S. tax changes. Continue Reading Below Europe’s biggest lender by market capitalisation, on Chief Executive Stuart Gulliver’s last day on the…

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Oil markets mixed on lower Canadian flows, firmer dollar

Oil markets mixed on lower Canadian flows, firmer dollar

article Oil markets were split on Tuesday, with U.S. crude was pushed up by reduced flows from Canada while international Brent prices eased. Continue Reading Below U.S. West Texas Intermediate (WTI) crude futures were at $62.16 a barrel at 0153 GMT, up 48 cents, or 0.8 percent, from their last settlement. Traders said the higher WTI prices were a result of reduced flows from Canada’s Keystone pipeline, which has been operating below capacity since late…

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Nikkei drops on profit-taking

Nikkei drops on profit-taking

article Japan’s Nikkei share average dropped on Tuesday morning as investors wasted no time to lock in profits from the previous day’s rally, while such financial shares as banks and insurers underperformed. Continue Reading Below The Nikkei dropped 1.4 percent to 21,831.66 in midmorning trade, after rising 2 percent on Monday. The banking sector was the worst sectoral performer, tumbling 2 percent. The insurance sector was also weak, sliding 1.6 percent. Mitsubishi UFJ Financial Group…

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Nikkei ends up 2 pct as exporters and big companies gain

Nikkei ends up 2 pct as exporters and big companies gain

Japan’s Nikkei share average finished 2 percent high on Monday, as exporters gained following a pullback in the yen, while market heavyweights such as Fanuc and Fast Retailing helped boost the benchmark index. Continue Reading Below The Nikkei advanced to 22,149.21 points, its highest close since Feb. 5. The broader Topix rose 2.2 percent to 1,775.15, but volume was thin, with only 1.29 billion shares changing hands, the lowest since late December due to market…

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Oil hits highest in nearly 2 wks on Asian equity recovery

Oil hits highest in nearly 2 wks on Asian equity recovery

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East. Continue Reading Below Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation. U.S….

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Students plan protests, Washington march, to demand gun control after mass shooting

Students plan protests, Washington march, to demand gun control after mass shooting

Stunned by the deadliest high school shooting in U.S. history, students mobilized across the country on Sunday to organize rallies and a national walkout in support of stronger gun laws, challenging politicians they say have failed to protect them. Continue Reading Below Students from Marjory Stoneman Douglas High School, where a former student is accused of murdering 17 people on Wednesday using an assault-style rifle, joined others on social media to plan the events, including…

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Jittery US bond market braces for supply wave

Jittery US bond market braces for supply wave

NEW YORK (Reuters) – Bond investors, who have been on edge over signs of growing inflation and a possibly more aggressive Federal Reserve, will have their work cut out for them as the U.S. government seeks to sell $258 billion worth of debt this coming week. Continue Reading Below The Treasury Department began ramping up its debt issuance earlier this month to fund the expected growth in borrowing tied to the biggest tax overhaul in…

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GE exploring industrial gas engine business sale: Report

GE exploring industrial gas engine business sale: Report

General Electric Co (GE) is exploring a sale of its industrial gas engine business that could be worth as much as $2 billion, according to people familiar with the matter. Continue Reading Below The move comes after Chief Executive Officer John Flannery, who took over as CEO last summer, indicated to analysts and investors for the first time last month that he was open to breaking up the company and said that a spinoff of…

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Qualcomm rejects Broadcom $121B takeover offer

Qualcomm rejects Broadcom $121B takeover offer

(Reuters) – Qualcomm (QCOM) is open to discussing a buyout offer from Broadcom (BRCM) that “reflects the true value” of the chipmaker and better addresses its concerns about potential regulatory hurdles to a deal, the company said on Friday. Continue Reading Below Qualcomm said it had a “constructive” meeting with Broadcom on Feb. 14, the first time the two companies met to discuss the existing $121 billion offer. However, Qualcomm’s board maintained its view that the…

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Gold hits 3-week high as dollar slides to lowest since 2014

Gold hits 3-week high as dollar slides to lowest since 2014

Gold rose to a three-week high on Friday as the dollar index slid to a three-year low and stronger-than-expected inflation data this week boosted interest in the metal as a hedge against price pressures. Continue Reading Below Gold is holding on track for its biggest weekly gain in nearly two years, snapping two straight weeks of losses that pulled it back from last month’s 1-1/2 year peak. Spot gold was up 0.4 percent at $1,358.83…

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