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The new United Nations chief wants to prevent war. UN Secretary-General Antonio Guterres called for a “whole new approach” to prevent war, in his first address to the Security Council since taking office.
The New York Stock Exchange floor is becoming automated. Exchange operator NYSE, which includes the New York Stock Exchange and is owned by Intercontinental Exchange, will end floor trading on its NYSE MKT exchange as part of a transition to a new technology platform.
Regulators criticised several Wall Street banks over the handling of a $1.15 billion loan for Uber. Led by Morgan Stanley, the banks helped the ride-sharing network tap the leveraged loan market in July for the first time, persuading institutional investors to focus on its lofty valuation and established markets rather than its losses in countries such as China and India, according to Reuters.
Volkswagen got fined billions. The company has negotiated a concrete draft of a criminal and civil settlement worth $4.3 billion with the US Justice Department and said the impact of the accord on its 2016 financial results cannot yet be defined.
HSBC threatened to move jobs abroad. Douglas Flint, the chairman of HSBC, says it is highly likely the bank will move in the region of 1,000 jobs to a base on continental Europe if Brexit negotiations fail to secure continuing passporting rights for the British financial sector.
The UK’s stock market broke records. The FTSE 100 enjoyed its ninth straight record close on Tuesday, breaking the stock market’s record for consecutive highs.
Fillon would beat Le Pen in the French elections. French conservative ex-prime minister Francois Fillon will beat far right leader Marine Le Pen 64% to 36% if they meet in a runoff next May in the presidential election, a poll showed.
Five Star is back in the UKIP alliance. Italy’s anti-establishment 5-Star Movement has backtracked from plans to quit the UKIP grouping in the European Parliament, UKIP founder Nigel Farage said.
American crude is about to pick up again. The US Energy Information Administration expects US crude oil production in 2018 to rise by 300,000 barrels per day year-on-year, according to its monthly short term energy outlook.
The World Bank is forecasting the global economy will accelerate slightly in 2017. The agency said that the global growth should expand at a 2.7% annual rate this year, better than last year’s 2.3% growth.
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