TOPCMB

Japan spent record of nearly $20.0 bln on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling US Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the …

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Meta board approves personal security to outgoing executive Sheryl Sandberg

Sept 30 (Reuters) – Meta Platforms Inc (META.O) said on Friday its board had approved providing personal security services to former Chief Operating Officer Sheryl Sandberg, citing “continuing threats to her safety”. The company, however, did not elaborate on the threats that Sandberg, one of the most powerful women in Silicon Valley, faces. It expects …

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United Airlines to halt service at New York’s JFK airport in October

WASHINGTON, Sept 30 (Reuters) – United Airlines (UAL.O) said on Friday it will suspend service in late October to New York’s John F. Kennedy Airport (JFK). Earlier this month, United had threatened to take the action if the Federal Aviation Administration (FAA) did not grant the air carrier additional flights. United has been flying just …

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Wall St posts third straight quarterly loss as inflation weighs, recession looms

S&P 500 notches largest September percentage drop in 20 years All three major US stock indexes post three-quarter slumps Core inflation data hotter than expected Indexes down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, …

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Swiss National Bank ends era of foreign currency purchases

SNB halted foreign currency purchases to curb franc strength Sold 5 million Swiss francs worth of foreign currency in Q2 SNB spent 353 billion francs in 7-1/2 years on forex Policy seen as success by economists ZURICH, Sept 30 (Reuters) – The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign …

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Barclays hit by $361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading …

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EU countries approve energy windfall levies, turn to gas price cap

EU approves energy windfall profit levies Countries eye gas price caps as their next move States split over how to contain sky-high prices BRUSSELS, Sept 30 (Reuters) – European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch …

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China’s factory, services surveys suggest economy struggling to rebound

China Sept official manufacturing PMI above forecast Private survey shows factory activity contracted sharply Services sector activity growth slowed in Sept – official survey COVID curbs, softening foreign demand, property weakness weigh BEIJING, Sept 30 (Reuters) – China’s factory activity added out growth in September, but a slowdown in services sector growth and a downbeat …

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Exclusive: China’s state banks told to stock up for yuan intervention

HONG KONG, Sept 29 (Reuters) – China’s central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan’s descent, four sources with knowledge of the matter said. State banks were told to ask their offshore branches, including …

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Oil settles lower after hitting $90/bbl as OPEC+ considers output cut

OPEC+ has begun talks on output cut at Oct. 5 meet – OPEC source Russia seen suggesting OPEC+ cuts output by 1 mln bpd – source US markets slide on Fed’s aggressive moves to tame inflation US production to return after shutting for Hurricane Ian NEW YORK, Sept 29 (Reuters) – Oil prices settled lower …

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