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Gold Prices Slips on U.S.-China Deal

By Ritu, Capital Sands Gold prices slipped on Thursday in Asia after the U.S. and China signed a historic trade deal. Gold Futures slipped 0.1% to $1,552.15 by 1:30 AM ET (05:30 GMT). Tensions remained however, as Washington decided to keep duties on some $360 billion...

European Stocks Lower; Banking Sector Slumps After Swiss Consolidation

European stock markets traded sharply lower Monday, with the banking sector hard hit in the wake of the deal to consolidate the two Swiss banking giants, UBS and Credit Suisse . At 05:00 ET (09:00 GMT), the DAX index in Germany traded 0.7% lower, the CAC 40 in France...

Bitcoin Near 9-Month High As Bank Turmoil Sparks Rally

to turn to digital assets. The biggest cryptocurrency by market value fell 1.8% in Asia hours to $27,549 after hitting its highest since June 12 on Sunday at $28,474. It rose 26% last week and is up more than 35% in ten days as turmoil in the banking sector has...

Vaccine Makers Prep Bird Flu Shot For Humans ‘Just in Case’; Rich Nations Lock in Supplies

Some of the world’s leading makers of flu vaccines say they could make hundreds of millions of bird flu shots for humans within months if a new strain of avian influenza ever jumps across the species divide. One current outbreak of avian flu known as H5N1 clade...

Credit Suisse Lifeline, First Republic Rescue: What You Need To Know

Credit Suisse headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to merge with UBS AG. At least four major banks, including Societe Generale (OTC:SCGLY) and Deutsche Bank...

Dollar Retreats as Banking Support Prompts Relief Rally

The U.S. dollar slipped lower in early European trade Friday and riskier currencies rallied on easing concerns about a global banking crisis. At 04:25 ET (08:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4%...

Oil Prices Rise On OPEC+ Hopes, But Set For Steep Weekly Losses

Oil prices crept higher on Friday on the prospect of supportive measures by the OPEC+, although fears of an economic slowdown stemming from a banking crisis kept gains limited and put prices on course for their worst week this year. Media reports said that Saudi...

Asian Stocks Surge As Bank Bailouts Lift Spirits

Asian stock markets rose on Friday, recovering from a series of sharp losses this week as government and institutional support to stem a potential banking crisis helped improve sentiment, while traders also priced in a less hawkish Federal Reserve. Chinese bourses...

Zara Owner Inditex Reports Surge in Annual Profit As Sales Hit Record High

Zara-owner Inditex (BME:ITX) posted a 29% jump in annual profit despite a slowdown in top-line returns in the final quarter, thanks to "historic" growth in sales both in its physical stores and online. The Spanish fast fashion retailer, now helmed by chair Marta...

ECB Likely To Stick To Big Rate Hike Despite Banking Turmoil, Source Says

European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the...

Asian Stocks Rise As Bank Rout Eases, Markets Bet On Less Hawkish Fed

Most Asian stock markets rose on Wednesday, helped by a recovery in bank shares amid easing fears over a potential crisis in the U.S., while growing bets that the Federal Reserve will adopt a less hawkish stance also aided sentiment. Regional markets took positive...