Gold fell on Thursday, snapping three sessions of gains as safe-haven buying subsided after successful European bond sales and a more positive economic outlook from U.S. Federal Reserve Chairman Ben Bernanke.
At least 10 asset managers are preparing to launch yuan-denominated funds in Hong Kong to tap robust overseas demand for yuan assets amid expectations of faster yuan appreciation and broader investment channels, two people with direct knowledge of the matter said.
Hong Kong stocks are likely to rise further on Thursday with traders expecting momentum to continue after the benchmark convincingly broke through short-term chart resistance on high volumes.
Investors are likely to pour more funds into Egypt in 2011 as a strengthening economy and attractive yields outweigh a fragile social backdrop and uncertainty ahead of a presidential election.
In his first speech as Britain’s new Minister of Trade and Investment, Stephen Green (The Baron Green of Hurstpierpoint) emphasized the vital importance of China to British UK economy.
State-owned Bank of China Ltd has offered yuan trading to its U.S. customers, a sign that Beijing this year may increasingly promote the use of the Chinese currency in major financial centers.
Studying the structure of open interest in US Comex Gold Futures and options, it points to more volatility and the risk...is very much to the upside, says O'Connell, concluding that professional traders are looking for a Gold Price of $1500 or even $1600 by the start of April.
Shares of H&R Block Inc. (NYSE: HRB) are dropping after the tax preparation company said that HSBC Holdings Plc (NYSE: HBC) has ended funding its refund-anticipation loans (RALs).
H&R Block Inc, the largest U.S. tax preparer, said it will not be able to help customers borrow money against their tax refunds in the coming months, as the bank that was supposed to provide the loans is under a regulatory directive not to.
H&R Block Inc has said HSBC Holdings Plc will not provide funding for the no.1 U.S. tax preparer's refund-anticipation loans, or RALs, after U.S. regulators ordered the lender to terminate the contract.
Nerbrand's team at HSBC reckon that Gold Investment accounts for just 0.14% of the average global portfolio today. If this figure increases, as we expect, the Gold Price could rise significantly...We believe asset allocators are likely to increase their weighting in gold over the next ten years if they focus on risk management
Edward Chow remembers the nervous days of the early 1990s in Hong Kong, when tens of thousands of people left the then-British colony, fearful of what would happen when Chinese rule returned.
HSBC Holdings Plc said claims the bank aided the fraud of convicted swindler Bernard Madoff were unfounded and it would defend itself vigorously against all Madoff-related claims.
Satellite communications firm O3b Networks, which is backed by investors such as Google, said it has raised $1.2 billion from a group of investors and banks.
The week to November 24 was marked by tensions in Korean peninsula that prompted investors to flee from risky assets to safer avenues like US dollar and gold, helping the yellow metal outshine its colleagues in the precious group. However, silver and palladium remained strong in the month, mainly helped by demand for cheaper alternatives in jewelry and industrial applications.
iPhone, just three years old and already attained cult status, has catapulted Apple (AAPL) to one of the largest technology companies in the world.
China's Sinochem has hired HSBC
bank to advise it on its options regarding Potash Corp , the target of a $38.6 billion (25 billion pound) hostile bid from BHP Billiton, the Wall Street Journal reported on its blog on Wednesday, citing a person familiar with the situation.Higher than expected profits from Barclays and Commerzbank failed to dispel concerns over the underlying health of Europe's top banks on Thursday.
American authorities are investigating the U.S. division of global banking group HSBC <0005.HK> over its compliance with anti-money laundering procedures, according to a regulatory filing.
French bank Societe Generale warned the economic recovery was still fragile, with moderate growth prospects in Europe, after it beat forecasts with an almost fourfold leap in second-quarter net profit.
French bank Societe Generale warned the economic recovery was still fragile, with moderate growth prospects in Europe, after it beat forecasts with an almost fourfold leap in second-quarter net profit.
The AUD has had a strong night during the offshore session, currently trading comfortably above USD0.9100 after better than expected manufacturing data was released in the US and exceptional profit reports from some of Europe's main banks saw risk appetite back on the table.
