A slump in investment banking revenues pushed Credit Suisse to accelerate its cost-cutting plan as chief executive Tidjane Thiam admitted he had been unaware of trading positions that triggered more big writedowns in the first quarter.
Fresh cracks appeared in global markets on Thursday as investors sought the safety of Japanese yen, gold and top-rated bonds while dumping US dollars on bets the Federal Reserve could be done raising interest rates.
Even the absen
Global stocks are set for a short-term sell-off on Monday after Islamist militants launched coordinated attacks across Paris that killed 129 people, but analysts said a prolonged economic impact or market reaction was unlikely.
A volatile ride for global markets this week ended calmly on Friday even as worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply for a second day.
Plunging oil prices could prompt Gulf Arab sovereign wealth funds to pull tens of billions of dollars out of global markets this year, with much of the money expected to come out of US dollar debt and deposits with banks abroad.
The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets.
Dubai stock index jumped in opening minutes on Sunday after global markets rebounded on Friday and shares in builder Arabtec Holding surged as it moved closer towards starting work on a huge project in Egypt.
The benchmark rose 4.
The National Bank of Abu Dhabi (NBAD) has appointed Anton Martin the managing director & head of Sales in the Global Markets to lead marketing of NBAD’s institutional, corporate and credit products as well as structuring and risk solut
A flood of new orders gave a boost to European and Chinese firms in September, according to a clutch of surveys which added to evidence that the global economy is healing.
Monday's upbeat purchasing managers' indexes, surv
World shares, bonds and commodities steadied on Friday, a day after a sharp sell-off triggered by plans by the U.S. Federal Reserve to cut back its asset-buying programme.
Easing fears about a banking crisis in China also made for