Asset managers, banks call on EU to cost plans to grab euro clearing from London

LONDON, Feb 2 (Reuters) – Asset managers, hedge funds and banks on Thursday called on the European Union to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. London Stock Exchange Group’s LCH and ICE in London have long dominated parts of the … Read more

Goldman Sachs raises emerging markets equities forecast

Feb 2 (Reuters) – Goldman Sachs on Thursday revised its forecast for emerging market equities upwards as it sees the developing world benefiting from the reopening of China’s borders, improving European growth prospects and softening US inflation. The investment bank sees MSCI’s index of emerging market shares (.MSCIEF) hitting 1,150 over the next 12 months, … Read more

Investor reaction to Adani market rout after short-seller report

SINGAPORE, Feb 2 (Reuters) – Adani Group called off a $2.5 billion share sale as losses for the conglomerate’s biggest firms snowballed to more than $100 billion in the wake of a US short-seller’s report. The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. Following are comments from … Read more

Analysis: Fed feeds Wall Street’s soft landing hopes, although recession fears still loom

Feb 2 (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in US stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed to pull back from … Read more

Hindenburg bet against India’s Adani puzzles rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. Its allegations, which the … Read more

Adani abandons $2.5 billion share sale in big blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises (ADEL.NS) share offering marks a stunning … Read more

Exclusive: Indian market regulator examining Adani share route, source says

MUMBAI, Feb 1 (Reuters) – India’s market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday. The Securities and Exchange Board of India’s (SEBI) examination comes on … Read more

End of easy-cash era is going to hurt

LONDON, Feb 1 (Reuters) – The end of the easy-cash era is over and its impact has yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. US and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central … Read more

US seeks Tesla driver-assist documents; company hikes capex forecast

WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday it had received requests from the US Justice Department for documents related to its Full Self-Driving and Autopilot driver-assistance systems as regulatory scrutiny intensifies. Reuters reported in October Tesla is under criminal investigation over claims that the company’s electric vehicles could drive themselves. The … Read more

Norway wealth fund posts record $164 billion loss

Loss in 2022 exceeds previous record from 2008 Inflation, geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a … Read more