Investors jumped back into equities on Monday, sending world stocks close to their highest level for the year, while the dollar weakened against a basket of currencies as demand for risky assets rose across the board.
Top executives from some of the world's leading banks will gather for a conference in Frankfurt this week as lenders seek to rebuild trust in the global financial system almost a year after Lehman Brothers collapsed.
Oil prices pushed toward $69 a barrel in thin trade on Monday, with sentiment buoyed by Asian and European equities and by a decision by the G20 to keep economic stimulus measures in place.
Chinatrust Financial said on Monday it was planning to raise more cash on top of a $1.34 billion private placement announced on Friday, but declined to comment on reports it had outbid rivals for AIG's Taiwan unit.
Investors jumped back into equities on Monday, sending world stocks close to their highest level for the year, while the dollar weakened against a basket of currencies as demand for risky assets rose across the board.
Banks in the United States need higher capital than they currently have, Alan Greenspan, former chairman of the Federal Reserve told a Mumbai conference via satellite on Monday.
Britain's Cadbury , the world's second biggest confectionery group, has rejected a $16.7 billion bid approach by Kraft Foods Inc., but North America's biggest food group still hopes it can clinch a deal.
Shares in Asia rose on Monday after U.S. data showed a slowdown in layoffs, while Chinese shares extended gains on hopes that Beijing will pull out more policy tools as needed to support its volatile stock market.
Swiss Re , the world's second-biggest reinsurer, said reinsurance prices were rising overall, lifting its shares nearly 3 percent.
Shares in Asia rose on Monday after U.S. data showed a slowdown in layoffs, while Chinese shares extended gains on hopes that Beijing will pull out more policy tools as needed to support its volatile stock market.
Chinese shares rose on Monday to extend gains on hopes that Beijing will continue to use policy to support asset prices, while gold prices dipped but kept within striking distance of $1,000 after U.S. unemployment rose to a 26-year high.
Chinatrust Financial, Taiwan's top credit card issuer, offered $2.4 billion for AIG's Taiwan Nan Shan Life unit, outbidding rivals, a source with direct knowledge of the situation told Reuters on Saturday.
Oil prices were little changed on Monday, hovering above $68 a barrel, as concerns about weak energy demand in the United States, the world's top energy consumer, were offset by a broad rise in Asian equities markets.
Every Thursday night, Lonnie Bishop and Lisa Case have a dinner date. For $5 each, the couple dines on fancy hot dogs served from a food truck parked outside their favorite wine shop in Los Angeles.
Oil prices fell below $68 a barrel on Monday on concerns that high unemployment in the United States, the world's top energy consumer, will weigh on demand.
The AUD/USD roared higher on Friday night to break above the psychological 85 cent level for the first time since September last year. The rally came on the back of increasing risk appetite following a better than expected U.S non-farm payroll number, a clear sign of continued improvement in the jobs market stateside.
Financial markets are likely to remain buffeted by uncertainty over government policy despite an unprecedented pledge by the world's top finance officials to cooperate as the global economy emerges from recession.
G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
Wall Street's mettle will be tested this week as traders return from summer vacations to resurfacing signs of weakness after a six-month rally for stocks.
The iPhone is making far more cash for Apple than the Street generally believes, according to Societe Generale analyst Vicent Rech.
British bank HSBC has made a bid of about 1 billion pounds ($1.63 billion) for Dutch financial group ING's private banking businesses, according to a report in The Sunday Times.
Kai-fu Lee, Google Inc's former China chief who quit the search giant this week, said on Sunday he will launch his own business next week to fund Chinese technology start-ups.
The U.S. central bank must resist popular pressure to keep interest rates too low as the economy recovers, according to a top Federal Reserve official.
The U.S. central bank must resist popular pressure to keep interest rates too low as the economy recovers, according to a top Federal Reserve official.
G20 finance leaders on Saturday agreed to coordinate a removal of emergency economic packages when recovery takes firm hold but they struggled on the detail of measures to rein in bank pay and lending rules at the root of the recent crisis.
G20 finance leaders struggled on Saturday to pin down specific measures to tighten bank pay and lending rules to prevent a repeat of the financial chaos that triggered the worst global recession in decades.
G20 finance leaders sketched out plans on Saturday that would force conservative rules on banks to curb risky lending blamed for triggering the financial crisis.
G20 finance leaders pledged on Saturday to keep economic life-support packages in place until a recovery is firmly secured, but reached no deal on putting limits on bankers' pay.
The world cannot be complacent about economic recovery and will need to keep emergency stimulus packages in place well into next year, British Prime Minister Gordon Brown said on Saturday.
G20 finance leaders pledged on Saturday to keep economic life-support packages in place for now, slap tighter controls on bankers' pay and give a bigger voice to emerging markets in the international institutions.
