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EU Approves 24B French Scheme to Help VirusHit Companies

EU competition enforcers on Thursday cleared a 20billioneuro 24 billion French scheme to help virushit companies via quasiequity loans and subordinated debt. The European Commission said the scheme consists of a state guarantee for private investment vehicles, funded by private investors, that will acquire participating loans distributed by commercial banks as well as subordinated bonds, […]
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Rising U.S. Yields Knock European Stocks, Miners Slump

European stocks fell on Thursday after three straight sessions of gains as a jump in U.S. bond yields knocked risk appetite globally, with heavyweight miners and travel stocks leading the retreat. The panEuropean STOXX 600 index fell 0.5 in early trading, with miners dropping 2.8 and travel leisure stocks down 1.6. UKlisted shares of Rio […]
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Sterling Holds above 1.39 after Sunaks Generous Budget

LONDON, March 4 Reuters Sterling held above 1.39 against the dollar on Thursday after British finance minister Rishi Sunak rolled out an expansive annual budget designed to prop up the economy. Sterling is the bestperforming G10 currency this year, with investors expecting Britains speedy vaccination programme will help the economy to recover from its worst […]
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Norways Seadrill writes down 2.9 billion on its oil rigs

OSLO Reuters Offshore drilling rig contractor Seadrill said on Thursday it had taken an additional 2.9 billion noncash impairment on its assets due to a bleak outlook for the sector, which has reduced demand for its drilling rigs. Seadrill, which in February filed for Chapter 11 bankruptcy protection in the United States for the second […]
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Australia, NZ dlrs Restrained as Bond Selloff Resumes

SYDNEY, March 4 Reuters The Australian and New Zealand dollars flatlined on Thursday after another spike in global bond yields spooked investors away from riskier assets, though sentiment was aided by data showing a record Australian trade surplus. The Aussie stood at 0.7785, having fallen from 0.7839 overnight when a jump in U.S. Treasury yields […]
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Japanese Shares Follow Nasdaq Lower

TOKYO, March 4 Reuters Japanese shares fell sharply on Thursday as investors sold off index heavyweights including SoftBank Group and Fast Retailing following a plunge in the Nasdaq index overnight. The Nikkei share average lost 1.59 to 29,085.92 by 0149GMT, while the broader Topix declined 1.05 to 1,884.54. The decline in the Nasdaq index has […]
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