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FILE PHOTO: Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on The Quarterly CARES Act Report to Congress on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo
WASHINGTON (Reuters) - The U.S. Federal Reserve is monitoring the implosion of New York fund Archegos Capital and analyzing why some banks suffered billions of dollars in losses, but the incident does not raise broader systemic risk worries, Fed Chair Jerome Powell said.
Archegos, a family office run by ex-Tiger Asia manager Bill Hwang, along with major banks that financed the fund’s trades, lost billions of dollars last month as its leveraged bets on media stocks quickly soured.
By Reuters Staff
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PARIS (Reuters) -Valneva on Tuesday reported positive results for its COVID-19 vaccine in early stage clinical trials and said it planned to launch a Phase Three trial this month.
FILE PHOTO: A woman holds a small bottle labelled with a Coronavirus COVID-19 Vaccine sticker and a medical syringe in this illustration taken October 30, 2020. REUTERS/Dado Ruvic
The French drugmaker, whose shot uses the technology behind its licensed Japanese encephalitis vaccine, tested its vaccine in 153 adults with three dose levels based on a schedule of two doses with vaccinations three weeks apart.
Valneva shares were up 8% in early trading.
By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Unilever is seen at the headquarters in Rotterdam, Netherlands August 21, 2018. REUTERS/Piroschka van de Wouw
ISTANBUL (Reuters) - Turkey’s Competition Authority said on Monday it fined Unilever’s Turkey unit some 480 million lira ($61 million), after ruling that it abused its dominant position in the ice cream sector.
It said the company prevented competition in sales areas sized 100 square metres or smaller, adding that it is obliged to allocate 30% of its fridge capacity in such businesses to products of other companies.
($1 = 7.8616 liras)
By Reuters Staff
2 Min Read
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) FTSE 100 up 1.1%, FTSE 250 adds 0.96%
April 6 (Reuters) - British shares were boosted on Tuesday by heavyweight commodity and banking stocks, while prospects of a planned economic reopening from a coronavirus lockdown starting next week lifted beaten-down stocks of restaurants and pub operators.
The blue-chip FTSE 100 index rose 1.1%. Energy stocks BP Plc and Royal Dutch Shell Plc, and miners Rio Tinto, Anglo American and Antofagasta Plc gained between 2.1% and 2.6%, tracking higher crude and metal prices.
Indian shares tumbled and the rupee weakened on Monday as daily coronavirus infections reached a record high and fresh curbs were imposed in the financial capital of Mumbai, sparking worries about the pace of the country's economic recovery.