European shares extended gains to hit a session high on Friday, as U.S. futures indicated Wall Street may not drop as much as previously expected.
Major U.S. stock indexes pointed to a drop of about 2 percent at the open on Friday as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
A return to lavish bonuses for Wall Street's top earners could be just the tonic that the Swiss watch industry needs this Christmas after months of austerity depressed sales.
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
U.S. stock index futures pointed to a sharp drop when Wall Street reopens on Friday for half a session following Thanksgiving, as fears over Dubai's debt woes knocked stock markets around the world.
ING priced a rights issue intended to raise 7.5 billion euros ($11.2 billion) at a steep discount, hoping to reduce its dependence on state aid by tapping shareholders made warier by Dubai's debt crisis.
Fears about a global contagion from Dubai's debt crisis triggered a broad sell-off of world shares, oil and other assets on Friday, fuelling flows into the low-yielding yen and safe-haven government bonds.
Chi-X Europe criticized the London Stock Exchange for adopting a procedure that prevented trades being routed to rival venues when glitches halted trading for more than three hours on Thursday.
China Minsheng Banking Corp fell a disappointing 3 percent in its Hong Kong debut on Thursday after raising $3.9 billion in the world's fifth largest IPO this year, underscoring how sentiment for Chinese banks has soured recently.
Debt problems in Dubai hit financial markets across the board on Thursday, sinking global stocks, helping lift safe-haven bonds and taking the dollar up from a 14-year low against the yen.
Sumitomo Trust and Banking has hired Daiwa Securities SMBC and UBS AG to advise on its planned merger with Chuo Mitsui Trust Holdings, three people with knowledge of the matter said.
European banks were hit by concern about potential exposure to debt problems in Dubai on Thursday, while companies where Middle Eastern investors own big stakes also came under pressure.
Shares in banks, builders and companies part-owned in the Middle East fell around the world on Thursday and investors sought safety in government bonds on worries about Dubai's ability to pay its debts.
Debt problems in Dubai hit global stocks, helped lift bonds and took the dollar away from a 14-year low against the yen on Thursday.
Debt problems in Dubai hit global stocks, helped lift bonds and took the dollar away from a 14-year low against the yen on Thursday.
Caisse de depot et placement du Quebec, one of Canada's biggest pension funds, said on Wednesday it had completed a $5 billion global debt offering as part of a refinancing program aimed at fortifying balance sheets decimated by the global financial crisis.
The Federal Reserve is tightening its policies on director eligibility more than six months after then New York Fed Chairman Stephen Friedman resigned after questions were raised about his stockholdings in Goldman Sachs once it came under the Fed's direct supervision.
A handful of banks have told the Federal Reserve they could do more to support the central bank's exit from its emergency cash infusions if a key accounting rule was changed, according to a person familiar with the situation.
U.S. regulators are increasingly looking beyond stocks in their insider trading investigations to examine derivatives and credit default swaps, a top Securities and Exchange Commission official said.
The Federal Reserve said on Wednesday it will no longer allow directors at regional Fed banks to own shares in financial firms, following controversy over a former Goldman Sachs CEO who bought that firm's stock while leading the New York Fed's Board.
A Luxembourg court launched a case on Wednesday to determine whether investors who lost money to Wall Street swindler Bernard Madoff can seek compensation from Swiss bank UBS, a spokesman for the court said.
