BIS warns of $80 trillion of hidden FX swap debt

BIS warns of  trillion of hidden FX swap debt

LONDON, Dec 5 (Reuters) – The Bank for International Settlements (BIS) has warned that pension funds and other ‘non-bank’ financial firms now have more than $80 trillion of hidden, off-balance sheet dollar debt in the form of FX swaps. Dubbed the central bank to the world’s central banks, the BIS raised the concerns in its … Read more

U.S. House to vote to block rail strike despite labor objections

U.S. House to vote to block rail strike despite labor objections

WASHINGTON/LOS ANGELES, Nov 29 (Reuters) – The U.S. House of Representatives was set to vote Wednesday to block a rail strike that could potentially happen as early as Dec. 9, after President Joe Biden warned of dire economic consequences and massive job losses. House Speaker Nancy Pelosi said lawmakers will vote Wednesday to impose a … Read more

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

HSBC eyes bumper dividend from  bln sale of Canada unit to RBC

Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensible’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more

Activists aggravate art insurers’ climate headache

Activists aggravate art insurers’ climate headache

Concern other groups could join in attacks Some insurers only cover works behind glass Inflation will also drive premiums higher Flood and fire damage risk add further pressure LONDON, Nov 25 (Reuters) – Climate activists’ attacks on some of the world’s most precious paintings have added to insurers’ worries about the threat to art from … Read more

No tsunami warning for Solomon Islands after 7.0 earthquake off coast

No tsunami warning for Solomon Islands after 7.0 earthquake off coast

SYDNEY, Nov 22 (Reuters) – Authorities in the Solomon Islands said no tsunami warning would be issued after two earthquakes on Tuesday afternoon, including one with a magnitude of 7.0 just off the southwest coast. The first quake hit at a depth of 15 km (9 miles), about 16 km (10 miles) southwest of the … Read more

Buffett’s Berkshire discloses $4.1 bln TSMC stake

Buffett’s Berkshire discloses .1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC up more than 6% in Taiwan on Tuesday, as it boosted investor sentiment … Read more

Nepal earthquake kills six, rattles New Delhi

Nepal earthquake kills six, rattles New Delhi

KATHMANDU, Nov 9 (Reuters) – An earthquake of magnitude 6.6 in Nepal early on Wednesday killed four children and two adults, seriously injured five others as several houses collapsed in the western district of Doti, and shook New Delhi in neighbouring India. Local media showed mud and brick houses destroyed by the quake in the … Read more

Medibank says hacker accessed data of 9.7 million customers, refuses to pay ransom

Medibank says hacker accessed data of 9.7 million customers, refuses to pay ransom

Nov 7 (Reuters) – Medibank Private Ltd (MPL.AX), Australia’s biggest health insurer, on Monday said no ransom payment will be made to the criminal responsible for a recent data theft, wherein around 9.7 million current and former customers’ data was compromised. Highlighting findings of the firm’s investigation to date, Medibank confirmed that name, date of … Read more

Berkshire Hathaway posts quarterly loss as stock holdings fall

Berkshire Hathaway posts quarterly loss as stock holdings fall

Nov 5 (Reuters) – Berkshire Hathaway Inc (BRKa.N) on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett said it lost money on its stock investments and from insurance underwriting. The net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 … Read more

Pfizer expects to hike U.S. COVID vaccine price to $110-$130 per dose

Pfizer expects to hike U.S. COVID vaccine price to 0-0 per dose

NEW YORK, Oct 20 (Reuters) – Pfizer Inc expects to roughly quadruple the price of its COVID-19 vaccine to about $110 to $130 per dose after the United States government’s current purchase program expires, Pfizer executive Angela Lukin said on Thursday. Lukin said she expects the vaccine – currently provided for free to all by … Read more