Gold continues to show resilience relative to other commodities, according to Ole Hansen, head of commodity strategy at Danish investment bank Saxo Bank.

Gold prices dipped last week in response to news of an imminent trade deal. On Saturday, US President Donald Trump said that talks were moving along “very nicely,” but that a deal would only be reached if it were right for America.

“It"...

Deposits by non-resident Indians (NRIs) in Indian banks have plunged by nearly 30 percent in the first 5 months of the current fiscal year (FY20), due to the duel effect of relative strengthening of rupee and sliding interest rates on deposits.

Fresh NRI bank deposits dropped to $4.04 billion during April-August 2019, against $5.70 billion in the corresponding period of last year, according to the latest data put out by Reserve Bank of India (RBI).

TOKYO: Japanese giant SoftBank Group said on Wednesday it suffered an operating loss of $6.4 billion in the second quarter, the worst in its history, as it took a hit from investments in start-ups including WeWork and Uber.
The eye-watering results follow a turbulent period for the firm and led CEO Masayoshi Son to admit regret over errors as he faces criticism over his commitment to start-ups some say are overvalued and lack clear profit models.
In the three-month period ending September 30, operating losses"...

Gold purchases by central banks dropped sharply in the third quarter of this year with only 14 regulators around the world adding 1 tonne or more to their reserves, according to the World Gold Council.

Central banks added 156.2 tonnes to their reserves in three months to the end of September, a 38 per cent year-on-year decline, the trade body said in report

yesterday.

The UK financial ecosystem could be in for a radical green transformation as the Labour Party unveiled plans to decarbonise the industry if it wins the general election on December 12.

An independent panel of experts, commissioned by Shadow Chancellor of the Exchequer John McDonnell, published a report on Saturday with recommendations on how to reduce the financial industry’s climate footprint.

They"...

TOKYO: SoftBank announced on Wednesday it will pump billions of dollars into struggling office-sharing start-up WeWork, in a deal that will see co-founder Adam Neumann taking a huge payout and exiting the board.
The package, which involves new financing, speeds up already pledged money and includes a new tender offer for existing shareholders, is worth a total of $9.5 billion.
Neumann, who has already been forced to step down as chief executive, will exit the board for an “observer” role, but is said"...

LONDON: Sterling fell from five-month highs against the euro and dollar on Wednesday, with talks to secure a Brexit deal expected to go down to the wire before an European Union summit.
British and EU officials were to resume talks on Wednesday, a few hours after late-night negotiations wound up, but it was far from clear they would reach an agreement before the summit on Thursday.
A report on Tuesday negotiators were closing in on a draft Brexit deal sparked a surge by the pound and raised hope across world markets"...

The pressure is starting to bear on Wall Street bosses. All in, earnings at the country’s biggest banks may fall 1.2 per cent in the three months to the end of September compared to the same period last year, according to Refinitiv data. If so, it’ll be the first drop in three years. It’s not a blip.
Equity capital markets are at a seven-year issuance low globally, Refinitiv data show. Blame poorly performing initial public offerings like Uber Technologies, Lyft and Peloton Interactive and the debacle"...

Damascus, SANA_ The Central Bank of Syria (CBS) announced the start of implementation of “My currency is my power” initiative in coordination with the Damascus Chamber of Commerce.

The initiative is launched through the intervention of the businessmen who put a special account for the Chamber of Commerce in order to reduce the exchange rate of foreign currencies against the Syrian pound in the parallel market as of today after the completion"...

Bank of America reported its third-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191016005398/en/

• Bank of America newsroom at https://newsroom.bankofamerica.com
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