Investors Rebel as EM Rate Jumps Fail to Buoy Curencies

Investors beating a retreat from emerging markets tested the resolve of central banks fighting to protect their economies from sliding exchange rates.

Japan PM Abe says to keep revision to BOJ law as future option

(Reuters) - Japanese Prime Minister Shinzo Abe said on Wednesday that he is trusting the Bank of Japan governor but will leave revision to the law guaranteeing central bank independence as a future option.

French succumb to temptation of cash as taxes climb

PARIS: French handyman Bruno works full-time doing repair work on homes around Paris. But he says the real reward comes after all paperwork has been signed and customers ask for more work - off the books.

Hedge Funds Most Bullish on Gas Since 2006 After Freeze: Energy

Hedge funds are the most bullish on benchmark U.S. natural-gas futures since at least 2006 after a freeze drove prices for the heating fuel to a three-year high.

BRICS economies grappling with midlife crisis, says Roubini

The American economist said the BRICS nations failed to implement second-generation structural reforms that are more micro-based and boost productivity growth.

Greece, creditors still in tough negotiations

ATHENS: Greece's finance minister says the country is still in tough negotiations with representatives of its international creditors over the course of its economic reform program, but insists there is no cause for concern and that the government is not being pressed to impose new austerity measures.

Credit Suisse Bonuses to Have Bonds That Can Be Wiped Out

Credit Suisse Group AG (CSGN), the second-largest Swiss bank, is paying part of 2013 bonuses to top employees in bonds that can be wiped out if the firm fails to maintain enough capital.

Libya's Sovereign-Wealth Fund Sues Goldman Sachs

Goldman Sachs Group Inc. is being sued by Libya's sovereign-wealth fund, according to a spokesman for the fund.

UK unemployment rate falls to 7.1%

The Bank of England sent a clear message that it has no immediate plans to raise interest rates, despite a shock fall in the unemployment rate close to the level at which the Bank said it would consider a hike.

Insight: Norway's $833 billion oil fund eyes riskier bets

OSLO - In May 2012 the world's largest sovereign wealth fund joined U.S. investors BlackRock and Waddell & Reed to buy a $1.6 billion stake in motor racing's Formula One.

Britain to stop housing benefit for jobless EU migrants in April

LONDON: Britain will stop helping jobless immigrants from other countries in the European Union with their housing costs from April, two cabinet ministers said on Monday, saying they wanted to reverse "a shameful betrayal" of British workers.

Switzerland, EU kick off tax talks

GENEVA: Switzerland and Brussels began talks Friday to update a deal under which taxes on savings banked in the Alpine country by EU citizens are paid back anonymously to their homelands.

Citic Hedge Fund Will Focus on Yuan, Other Emerging Currencies

Former FX Concepts LLC executives Robert Savage and Ron DiRusso are starting a hedge fund with Citic Capital Holdings Ltd. that will trade emerging-market currencies with a specific focus on the Chinese yuan.

Liberia has "medium-term" plans for intl bond: Finance Minister

LONDON (Reuters) - Liberia has "medium-term" plans to launch an international bond but will first seek a debt rating which it anticipates will be in the single-B category, the West African country's finance minister said on Wednesday.

Abu Dhabi Fund Said to Buy Time Warner Building With GIC

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, is investing alongside Singapore’s state fund GIC Pte in the headquarters of Time Warner Inc. (TWX) in New York City, according to a person with direct knowledge of the transaction.

Bank of Canada Poll Shows Business Modest Expansion Plans

Canadian businesses expansion plans are being restrained by weak demand, with executives saying they’re waiting for signs of strength before making investments, according to a central bank survey.

Why Norwegians Are Millionaires and Americans Are Paupers

Among the reasons Norwegians can celebrate Norway are the '80s band A-ha, the narrow geological formations called fjords, oil and the biggest sovereign wealth fund in the world.

China edges US out as biggest trader?

BEIJING: China may have surpassed the United States to become the world's biggest trading nation as its foreign trade crossed the $4-trillion mark in 2013.

US wholesale inventories rise in November, sales up

WASHINGTON: US wholesale inventories rose a bit more than expected in November, suggesting that restocking would probably contribute to economic growth in the fourth quarter.

EU plans for trading rules widen global gap in bank regulations

LONDON: Banks were pleased this week by news that Europe would impose less-restrictive rules on trading than the United States, but the announcement proves that global regulations are likely to remain inconsistent despite pledges to unify them.

No bonanza yet for big funds from new rules to cut risk

LONDON (Reuters) - If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending "high quality" assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to be disappointed.

China plans new privately financed banks

Up to five private banks will be created in China this year as it looks to open up the financial sector and raise competition in the industry.

Biggest Indonesian Fund to Boost Equities, Bonds: Southeast Asia

Indonesia’s biggest pension fund plans to boost equity and bond holdings in 2014 as it expects domestic consumption and a possible reduction in interest rates to raise company earnings in a presidential-election year.

Abu Dhabi's ATIC to invest up to $10 bn in US chip plant

ABU DHABI: Abu Dhabi's Advanced Technology Investment Company (ATIC) plans to invest up to $10 billion over the next two years in GlobalFoundries' New York semiconductor factory, its chief executive said on Friday.

2014 could be better year for US economy: Ben Bernanke

WASHINGTON: Federal Reserve Chairman Ben Bernanke said on Friday that factors which have kept the economy from accelerating appear to be abating, and he predicted stronger growth in 2014.

Lending to business suffers biggest fall since 2011, Bank of England data shows

Lending to businesses has suffered its biggest drop since April 2011, raising concerns about the strength of the economy and the impact of schemes intended to increase banks' appetite to lend.

U.S. factory, jobs data show underlying strength in economy

(Reuters) - U.S. factory activity held near a 2-1/2-year high in December and the number of Americans filing new claims for jobless benefits fell again last week, suggesting the economy was poised for stronger growth in 2014.

Blackstone to invest $200 million in Crocs: WSJ

NEW YORK: Blackstone Group LP is making a $200 million investment in Crocs Inc that will give the private equity firm a 13 percent stake in the shoe company, Crocs' chief financial officer told the Wall Street Journal on Sunday.

Gold Surrenders Streak as Investors Embrace Stocks With 20% Gain

Investors’ 12-year love affair with gold ended in 2013 as they abandoned the precious metal for stock markets in the world’s developed economies, lifting global share prices by the most in four years.