BoE’s Kashyap wants ‘forensic investigation’ of Archegos collapse
Financial regulators should undertake a detailed cross-border probe into how the collapse of U.S. investment fund Archegos cost mostly foreign banks more than $10 billion, Bank of England policymaker Anil Kashyap said on Wednesday.
Canada’s top pension funds boost investments in high-carbon oil sands
Canada’s biggest pension managers boosted their investments in the country’s major oil sands companies in the first quarter of 2021, raising questions about the funds’ recent commitments to greening their portfolios.
U.S. business borrowings jump 19% in April – ELFA survey
U.S. companies borrowed $9.8 billion for capital investments in April, up 19% from a year earlier, benefiting from an economic recovery triggered by mass COVID-19 vaccinations and easing restrictions, the Equipment Leasing and Finance Association (ELFA) said.
European stocks stuck at peak as recovery uplift fades
European stocks look set to hold around or inch just above current record levels as the initial boost stemming from the region’s V-shaped recovery after the COVID-19 downturn loses momentum, a Reuters poll found.
EXCLUSIVE China bars banks from selling commodities-linked products to retail buyers -sources
China’s banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers, three people with knowledge of the matter told Reuters, to curb investment losses amid volatile commodity prices.
European stocks near record high, NZ dollar rises
European stocks approached record highs on Wednesday after U.S. Federal Reserve officials soothed investors’ inflation worries, though the New Zealand dollar rose as the country’s central bank hinted at a rate hike next year.
Buy now, pay later players tackle credit conundrum in Mideast’s Gulf
Financial technology start-ups in Saudi Arabia and the United Arab Emirates offering online short-term credit say they are enjoying exponential growth as the coronavirus pandemic drives a shift in consumer spending online.
Bitcoin reclaims $40,000 as crypto volatility lingers
Bitcoin climbed back above $40,000 on Wednesday for the first time this week, as recent volatility in the cryptocurrency market showed few signs of dampening down.
GameStop jumps more than 16% as ‘meme’ stocks roar higher
Shares of GameStop (GME.N) soared 16.3% on Tuesday after hitting their highest level since late March, and other so-called “meme” stocks also rallied as investors shifted back into the retail favorites that had notched big gains earlier in the year.
Asian shares up, dollar wallows as Fed soothes inflation fears
Asian shares rose on Wednesday while the U.S. dollar stood near its lowest levels this year after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance, providing yet more assurance to investors worried about the inflation outlook.
