Vanguard, the $5.6 trillion asset manager, plans to start using computer-run algorithms this year to trade FX directly with other funds, depriving banks of some of the fees they earn as the middlemen in currency deals.
Visa Inc is planning the biggest changes in a decade to the rates U.S. merchants pay to accept its cards, Bloomberg reported https://bloom.bg/2vGWtA7 on Tuesday, citing a document Visa sent to banks.
Vodacom Group expects to offer 5G mobile services to its South African customers this year by using a network being built by another African operator Liquid Telecom, Vodacom Chief Executive Shameel Joosub said on Tuesday.
(Bloomberg) — Tesla Inc.’s parabolic surge above $900 a share on Tuesday drew New Street Research analysts to downgrade the stock to neutral from buy in the midst of a 2020 rally.The group of analysts led by Pierre Ferragu think the stock is “still attractively valued for the long run” with shares priced in the middle of the range for the group’s 2025 expectations. New Street highlighted “limited sources of further” stock appreciation over the next year as the driver for the downgrade.Tesla surged as much as 16% in pre-market trading, briefly topping $900 per share, and setting the stock …read more […]
Airlines are suspending flights to China in the wake of the new coronavirus outbreak.
U.S. oil and gas producer ConocoPhillips reported a lower-than-expected quarterly adjusted profit on Tuesday and boosted its share buyback program by $10 billion.
Investors have made higher returns a key priority, pressing oil and gas drillers to boost buybacks and dividends instead of growing production at a time when commodity pricing remains volatile. ConocoPhillips said in November it would boost its oil and gas production by about 3% per year, restrain annual spending to about $7 billion and return $50 billion to shareholders over the next decade. On a per share basis, it earned 76 cents, while analysts had expected a profit of 80 cents, according to IBES data from Refinitiv. …read more […]
Headlines moving the stock market in real time. …read more […]
At least half a dozen Venezuelan banks have begun storing in vaults millions of dollars and euros accumulated in cash by businesses during an unexpected economic liberalization by President Nicolas Maduro, according to sources. Some $1.8 billion worth has entered Venezuela in the last year, according to three senior banking sources, as Maduro quietly dismantles 16 years of socialist regulations to salve the economy in the face of U.S. sanctions and hyperinflation. The cash comes mainly from remittances – often on trucks – by the millions of Venezuelans who have left in recent years, and from the OPEC …read more […]
Airlines are suspending flights to China in the wake of the new coronavirus outbreak.
Delta Air Lines, Inc. (NYSE:DAL) saw significant share price movement during recent months on the NYSE, rising to… …read more […]
Hong Kong’s markets regulator and stock exchange will relax rules on how companies must publish their annual results in response to challenges caused by the newly identified coronavirus, they said in a joint statement on Tuesday.
India is likely to issue at least $5 billion worth of bonds with no limits on foreign investment next year, in a bid to list the bonds on global indices and attract more foreign funds, according to two finance ministry sources.
Ferrari said on Tuesday its fourth-quarter core profit rose 22% to meet the Italian luxury carmaker’s upgraded forecasts for last year.
A Milan court ordered Dutch lender ING to pay 30 million euros ($33.17 million) to settle a money-laundering case in Italy, a judicial source said on Tuesday.
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