LONDON (Reuters) – The euro jumped to its strongest level against the dollar in more than two years on Friday as banks adjusted positions for the year end.
The European Central Bank will take a snapshot of the capital positions of the region’s banks at the end of 2013 for an asset-quality review (AQR) next year to work out which of them will need fresh funds.
LONDON, Dec 27 (Reuters) – The euro pushed towards a
two-month high against the dollar on Friday as banks adjusted
positions ahead of the year end.
The European Central Bank is conducting an asset-quality
review (AQR) which could show that banks require more capital,
and which will take a snap-shot at year-end 2013, and this has
led to some demand for euros to help shore up their balance
sheets, traders said.
LONDON, Dec 24 (Reuters) – The dollar gained slightly on
Tuesday as upbeat U.S. consumption data fostered hopes of a
solid recovery in the world’s largest economy and reinforced
convictions that the Federal Reserve will continue to tighten
Consumer spending rose in November at the fastest pace since
June, while a survey showed consumer sentiment hit a five-month
high heading into the end of the year.
LONDON, Dec 10 (Reuters) – The fictional diary of Barry
Loser, an unfortunately named American schoolboy, and a second
book about two creatures tussling over a peanut in a shell won
this year’s Roald Dahl Funny Prize on Tuesday.
The prize, now in its sixth year, was inspired by Dahl, who
wrote much-loved children’s classics including “Charlie and the
Chocolate Factory”, “James and the Giant Peach” and “Matilda”,
featuring dark humour and wry plot twists.
LONDON, Dec 5 (Reuters) – Europe’s petrochemical industry
will face a competitive assault as U.S. rivals emerge with cheap
feedstock from the shale gas boom. It can look to the refining
industry now for a taste of what is to come.
Refinery closures have cut an estimated 10 percent of
European capacity since 2008, according to consultant Damian
Kennaby. Those still in operation are struggling with losses or
razor-thin margins as U.S. refiners flood Europe with cheap fuel
made from low-cost shale oil and gas.
RAFNES, Norway, Dec 3 (Reuters) – Ineos is building a new
furnace at its petrochemical plant in Rafnes, Norway as it
expands capacity to use ethane made from U.S. shale gas it will
store in a tank under construction at the site, the chemicals
and refinery company said on Tuesday.
Swiss-based Ineos is building an ethane storage tank that
will enable the plant to produce 570,000 tonnes per year of
ethylene, a key substance in making plastics. The extra furnace
will enable it to produce 620,000 tonnes per year.
LONDON, Nov 28 (Reuters) – Brent oil slipped below $111 per
barrel on Thursday, weighed by a bigger-than-expected rise in
U.S. crude stockpiles, but Libyan supply disruption kept prices
Brent crude fell 38 cents to $110.93 a barrel by
0944 GMT It is still up 2 percent in November, and over $8
above its low for the month.
LONDON, Nov 20 (Reuters) – Brent oil slipped towards $106 a
barrel on Wednesday on optimism over nuclear talks with Iran, a
resumption of Libyan oil supply and rising stockpiles in the
World powers aim to reach a preliminary agreement to curb
Iran’s nuclear programme in talks resuming in Geneva on
Wednesday. A deal may involve easing sanctions on the OPEC
producer that could lead to a rise in its crude exports.
LONDON, Nov 14 (Reuters) – Brent oil rose towards $108 per
barrel on Thursday, bolstered by Federal Reserve comments which
reassured investors that the U.S. would maintain stimulus
measures for now, and a warning of likely rising prices from the
International Energy Agency (IEA).
U.S. crude fell however, pressured by expectations of a rise
in U.S. crude inventories.
LONDON, Nov 6 (Reuters) – The U.S. shale boom is causing a
cascading series of changes in global energy markets that are
altering the landscape for oil trading houses and opening up new
ways for them to profit, a leading Swiss trader said.
“In the energy complex specifically, the shale gas boom and
plentiful supply of gas have created a series of very
interesting and complex knock-on effects,” Daniel Jaeggi,
co-founder of Swiss trading house Mercuria, told the Reuters
Global Commodities Summit.