The dollar took a breather on Thursday after hitting its highest level against the yen since 2002, and stocks stuttered as high-flying Chinese shares tumbled and European officials downplayed talk of an imminent deal to keep Greece afloat.
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Wall St. ends down after weak economic data but gains in May
U.S. stocks closed lower on Friday as data showed the economy contracted in the first quarter but indexes still posted gains for the month.
India Inc seeks better pricing, FX relief to sell rupee bonds offshore
India's plans to allow domestic firms to raise rupee-denominated debt abroad for the first time are being eclipsed by the rising cost of funds in international markets, making it harder for cash-starved businesses to take advantage of the relaxed rules.
Dollar, Chinese shares steady as Europe wobbles
The dollar inched higher on Friday, putting it on track for a monthly rise in May, while Chinese shares steadied after a plunge a day earlier that stoked concerns about the financial health of the world's second largest economy.
Greek drama weighs on sentiment; yen off, euro up
The euro rose on Thursday as Greece fought to reach an agreement with its lenders to avoid an imminent default, but mixed signals on the state of the negotiations kept other markets little changed.
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U.S. stocks ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt.
European banks Deutsche Bank, Barclays and UBS have seen their market share in foreign exchange trading slump in the past year, as U.S. banks led by Citigroup (C.N) grabbed business, according to widely watched industry rankings.
A string of reversals from sharp moves the previous day marked global financial market trading on Wednesday, with stocks and oil gaining ground and the U.S. dollar falling after its biggest rally in two years.
U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fueled expectations that a U.S. rate hike could come sooner rather than later.
Wall Street opened lower on Tuesday after the dollar jumped to a one-month high on data showing that U.S. business investment spending plans increased solidly for a second straight month in April.
Greece's financial crisis and signs of growing opposition to austerity in Spain sent the euro to its lowest level in a month on Tuesday, while shares and commodities took a knock as the dollar powered higher.
An Iraqi bank controlled by Jordanian interests plans to open five more branches in Iraq by the end of this year, a sign that there is still money to be made in much of the country despite civil war and low oil prices.
European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year.
Italian media tycoon and former prime minister Silvio Berlusconi is still looking for a co-investor in AC Milan to help revive the fortunes of the Serie A soccer club which he has owned for nearly three decades.
