LE HAVRE, France, Oct 28 (Reuters) - Britain on Thursday condemned France's seizure of a British fishing boat in French waters and warned Paris against further retaliation in a rapidly deteriorating row over post-Brexit fishing rights.French Seas Minister Annick Girardin said the vessel was detained during checks off the northern port of Le Havre overnight as it was not allowed to fish in French t...Read More

MILAN (Reuters) - UniCredit raised its 2021 profit and revenue goals on Thursday, strengthening the hand of its new CEO after he walked out of talks to buy troubled rival Monte dei Paschi (MPS).Italy's only bank that regulators deem of global systemic relevance, UniCredit last year lost its domestic leadership to Intesa Sanpaolo, which snapped up rival UBI to secure a fifth of the market - twice t...Read More

LONDON, Oct 28 (Reuters) - Dogecoin, watch out!Meme-based cryptocurrency shiba inu soared more than 45% over the last 24 hours, muscling its way into the top ten largest digital tokens by market capitalisation.Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has barely any practical use.Yet it's price has rocketed around 190% in the last seven day...Read More

Oct 28 (Reuters) - Mastercard Inc (MA.N) reported better-than-expected profit for the fourth consecutive quarter on Thursday, as easing of pandemic-era restrictions drove a healthy recovery in cross-border spending and lifted domestic spending.Shares were up nearly 3% at $345 in premarket trading.After more than a year of staying homebound, customers have started venturing out for travel, dining...Read More

Oct 28 (Reuters) - Second-hand clothing firms are fighting to snap up smaller rivals and lock in investment as demand for thriftwear booms on the back of supply chain snarl-ups for traditional retailers ahead of the peak holiday shopping period.Newly listed companies such as Poshmark Inc (POSH.O) and ThredUp Inc (TDUP.O) are starting to scoop up smaller firms to fend off competition from deep-...Read More

LONDON (Reuters) -Higher inflation and rising taxation to fund growing demand for healthcare and other public services will cause living standards in Britain to barely rise over the coming year, the Institute for Fiscal Studies think tank said on Thursday.The IFS - whose views on economic policy are closely watched in Britain - said Wednesday's budget statement here from finance minister Rishi S...Read More

BEIJING, Oct 28 (Reuters) - Banks should maintain the stable and orderly issuance of property loans, the Beijing office of China's central bank said on Thursday, adding that lenders should have an accurate understanding of the financing policy to the property sector.The People's Bank of Beijing branch made the above comments after the conclusion of a meeting focused on credit supply in the Chinese...Read More

LONDON (Reuters) -The Bank of England said on Thursday it will crack down on banks and insurers that fail to hold enough capital to cover risks from climate-change from next year, as it studies whether bespoke safety buffers are needed.Climate-related financial risks are partially captured by current frameworks, but there are gaps, the BoE said in a report on adaption to climate change that marks...Read More

The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More

SINGAPORE/SYDNEY (Reuters) - Fashion brands and airlines are creeping back into investors' good graces in Asia as lockdowns ease and vaccination rises, boosting travel and leisure activities, taking some shine off pandemic stalwarts such as supermarkets and gadget makers.Earnings report cards show that people are spending less time watching TV or shopping online for groceries as they resume dining...Read More

(Adds detail, analyst comment)MOSCOW, Oct 28 (Reuters) - Russia's largest lender Sberbank on Thursday reported a record net profit of 348.3 billion roubles ($4.9 billion) for the third quarter but raised provisions as it classified assets of its subsidiary in Ukraine as restricted.Sberbank has been reporting robust quarterly results this year thanks to a growing client base and as the Russian econ...Read More

ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More

(Updates with cenbank, govt reaction statement)MUMBAI, Oct 28 (Reuters) - Rating agency Moody's downgraded Sri Lanka's debt rating to "Caa2' from "Caa1' on Thursday saying the country had failed to come up with a comprehensive debt repayment plan and low foreign exchange reserves posed the risk of defaults.The Sri Lankan central bank, in response, said the government was committed to meeting its d...Read More

-Caterpillar Inc reported a quarterly profit on Thursday that beat analysts' estimates as construction demand and higher commodity prices boosted sales of heavy equipment across the company's businesses.The industrial bellwether's shares, which have risen 7.8% this year, were up 3.5% at $202 in premarket trading.Caterpillar's sales have surged for three consecutive quarters as construction demand...Read More

A summary of Swedish state-owned iron-ore producer LKAB's financial results for the third quarter of 2021, ending September 30In brief LKAB continued to deliver historically high operating profits in July-September 2021 amid strong demand from steelmakers and high iron ore prices. Fastmarkets' iron ore index for 62% Fe fines, cfr Qingdao averaged at $163.39 per tonne in the third quarter of...Read More

Oct 28 (Reuters) - Asset management firm T Rowe Price on Thursday agreed to buy fund manager Oak Hill Advisors in a $4.2 billion deal as it looks to expand its footprint in the alternative investments market.The cash-and-stock deal could trigger more M&A activity in the asset management space, with potential tie-ups between other mutual fund managers and private equity firms.As of July-end, Ne...Read More

A look at the day ahead from Tommy Wilkes.The European Central Bank meets later on Thursday and all eyes will be on its comments about the outlook for inflation.Will it or won't it become the latest central bank to warn that price pressures are more severe -- and less transitory -- than they appeared a few months ago?The difficulty for the ECB is that it wants to maintain its ultra-dovish stance t...Read More

Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More

TOKYO, Oct 28 (Reuters) - A global parts and chip shortage is taking a heavy toll on Japanese firms with seven out of eight automakers seeing global output drop in September, casting doubt over the central bank's view the impact of supply constraints will be temporary.Toyota Motor (7203.T) said on Thursday it saw global output slump 39.1% in September from a year earlier to 512,765 units, markin...Read More

The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More