- Bitcoin has 'pretty much failed' as a currency says Bank of England Carney- Bitcoin is neither a store of value nor a useful way to buy things - BOE's Carney- Project fear against crypto-currencies or an out of control investing bubble?- Bitcoin will likely recover in value but is speculative and not for widows and orphans- British pound has been a terrible store of value - unlike gold- Pound...Read More
Feb 22 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.The Times- Jean-Claude Juncker's chief of staff, Martin Selmayr, who is believed to have been the source of damaging leaks about Brexit talks, has been appointed the European Union's most senior civil servant. - The threat to...Read More
* Stronger dollar makes oil more expensive for some buyers* Dollar outweighs API report of lower U.S. crude inventories By Henning GloysteinSINGAPORE, Feb 22 (Reuters) - Oil prices fell on Thursday, pulled down as a firmer dollar outweighed a report of a decrease in U.S. crude inventories.U.S. West Texas Intermediate (WTI) crude futures were at $61.12 a barrel at 0102 GMT, down 56 cents, or 0.9 p...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Jamie McGeeverLONDON, Feb 21 (Reuters) - The recent surge in market volatility, by some measures one of the most dramatic on record, will have zero impact on investor returns beyond a few months. Literally zero.That's according to Credit Suisse's annual Global Investment Returns Outlook, a 250-page tome analyzing wo...Read More
Steve HollandWASHINGTON (Reuters) - The Trump administration is considering new sanctions against Russia in response to election meddling and a devastating cyber attack last year, senior U.S. officials said on Wednesday, pushing back against criticism that it has been slow to act.Both Republicans and Democrats in the U.S. Congress, which nearly unanimously passed a new sanctions bill against Russi...Read More
(Kitco News) - The comparison between gold and bitcoin has been “overdone,” according to one investment expert, who sees gold as extremely different from bitcoin.“Gold is a store of value that will last forever. Bitcoin, on the other hand, is something that is young and speculative. [Bitcoin] is very exciting, but the comparison with gold has been overdone,” Newscape Capita...Read More
* PREVIOUS TRADING SESSION MOVES:* SSEC +0.8 pct, CSI300 +0.4 pct, HSI +1.8 pct* HK->Shanghai Connect daily quota used 3.5 pct* HK->Shenzhen Connect daily quota used 6.2 pct* CNY official close 6.345 per dollar* FTSE China A50 +0.9 pct, BNY Mellon ADR China Select Index +1.6 pct SHANGHAI, Feb 22 (Reuters) - Following is a list of recent corporate and policy announcements, as well as other n...Read More
Feb 22 (Reuters) - For other diaries, please see:Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington DATECOUNTRY AUCTION DETAILS22-FebUnited States Sale of 7-year notes22-FebJapan 3-month discount bill auction22-FebJapan Auction of 20-year government bonds22-FebUnited KingdomAuction of 0 1/8% Index-linked...Read More
By Lawrence WhiteLONDON, Feb 22 (Reuters) - Britain's cross-party Treasury Select Committee of lawmakers on Thursday said it is launching an inquiry into digital currencies, as well as the underlying distributed ledger technology.The probe will focus on the opportunities and risks posed to consumers, businesses and the government by the rising popularity of so-called cryptocurrencies, the committe...Read More
Feb 22 (Reuters) -For other diaries, please see:Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington -----------------------------------------------------------This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- THURSDAY, FEBRUARY 22 FRANKFURT - S...Read More
Feb 22 (Reuters) - For other diaries, please see:Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington -----------------------------------------------------------This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- THURSDAY, FEBRUARY 22 ** SUVA - Res...Read More
(Corrects paragraph 15 to 1.8 million instead of 1.3 million)* Dollar strengthens from three-year lows* U.S. crude stocks unexpectedly fall by 907,000 barrels* Coming Up: EIA data on U.S. oil inventories on Thursday By Stephanie KellyNEW YORK, Feb 21 (Reuters) - Oil prices were little changed on Wednesday ahead of data expected to show rising crude inventories in the United States and as the dol...Read More
Traders and investors witnessed extreme volatility characterized by strong price swings taking gold prices both moderately higher as well as moderately lower in trading today.In a time span of only 70 minutes, gold prices fluctuated between a seven-dollar net gain followed by a six-dollar decline in prices.As of 3:30 PM Eastern standard time, April Comex gold futures are currently trading down $5....Read More
By Herbert LashNEW YORK, Feb 21 (Reuters) - Fears of rising interest rates slammed real estate again on Wednesday after the release of Federal Reserve minutes, making the sector the worst-performing among U.S. equities on the day and the year, but potentially marking a good time to buy.Fear of rising rates and their impact on real estate investment trusts (REITs) is often misplaced, especially whe...Read More
(Recasts story to focus on criminal case, adds further details from court papers)By Nate RaymondFeb 21 (Reuters) - The operator of a shuttered bitcoin-denominated exchange was arrested on Wednesday on federal charges that he lied to U.S. securities regulators to avoid taking responsibility for the theft by hackers of virtual currency now worth nearly $70 million.Federal prosecutors in Manhattan a...Read More
(Adds quotes, details and background on indirect bidders)By Kate DuguidNEW YORK, Feb 21 (Reuters) - Investors showed fair demand for the $35 billion of five-year notes auctioned by the U.S. Treasury Department on Wednesday, part of a bumper sales week as the government boosts issuance to help fund President Donald Trump's tax overhaul and a two-year budget deal.This week's issuance of $258 billio...Read More
(Adds earnings comparison, stock movement)Feb 21 (Reuters) - U.S. shale oil producer Continental Resources Inc posted a better-than-expected quarterly profit on Wednesday, helped by rising production and surging crude prices .The results reflect the broader push in the industry to boost output only when profitable. Continental easily exceeded that mark during the quarter, with executives vowing t...Read More
Feb 22 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,943.72.846 NZX 50**8,309.15 108.88DJIA24,797.78-166.97 NIKKEI**21,970.8145.71Nasdaq7,218.228-16.08FTSE**7,281.57 34.80S&P 500 2,701.33 -14.93Hang Seng** 31,431.89558.26SPI 200 Fut 5,9162.00STI** 3,516.23 39.70SSEC**3,199.4757 14.52 KOSPI** 2,429.65 14.53-------------------------------------------------------------...Read More
* U.S. dollar index hits one-week high* Wall Street gives back gains after Fed minutes* Euro slips, sterling down on unemployment data* U.S. Treasury 10-year yield hits four-year high (Updates Wall Street to close; updates throughout)By Hilary RussNEW YORK, Feb 21 (Reuters) - The benchmark 10-year U.S. Treasury yield hit a four-year high, the dollar rose and stocks fell on Wednesday in a rocky ses...Read More
(Adds details, updates to close)By Nichola SaminatherTORONTO, Feb 21 (Reuters) - Canada's main stock index closed at a 2-1/2-week high on Wednesday, led by financials and industrials, with all sectors but technology posting gains.The Toronto Stock Exchange's S&P/TSX composite index closed up 84.57 points, or 0.55 percent, higher at 15,524.01, its strongest close since Feb. 2.* Canadian stocks...Read More