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Finance

Aviva weighs bid for RSA’s UK consumer unit -sources

A sign of RSA insurance company is pictured outside its office in London in this December 13, 2013. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - Aviva Plc (AV.L) is among a small handful of insurers exploring bids for the UK consumer operations of rival RSA, two people familiar with the matter told Reuters.RSA's owner, Intact Financial Corp (IFC.TO), said last month it was reviewing strategic options for RSA's personal lines business, which includes home and pet insurance, to focus on commercial insurance.Suitors have been asked to submit...
Finance

Macquarie weighs sale of stake in UK offshore wind farm Race Bank -sources

LONDON, Oct 6 (Reuters) - Macquarie (MQG.AX) is considering selling its 25% stake in Race Bank, a 573 megawatt offshore wind farm located off Britain's Norfolk coast, according to two sources with knowledge of the matter.The infrastructure group is working with advisors on the sale, which could value the wind farm at up to 3 billion pounds ($3.66 billion), one of the people said. Race Bank started production in 2018 and provides enough power for the equivalent consumption of more than 510,000 homes, according to the website of Orsted (ORSTED.CO),...
Cryptocurrency

Sam Bankman-Fried demanded special privileges for his fund, ex-colleague testifies

NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX.The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. Alameda had withdrawn $8 billion from FTX by the time of the exchange's bankruptcy in November 2022,...
Banking

European stocks gain as US yield surge pauses

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 4, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Oct 5 (Reuters) - European stocks opened higher on Thursday, after a plunge in oil prices and softer U.S. labour data late on Wednesday helped bring U.S. Treasury yields back down from 16-year highs.Asian shares rebounded from 11-month lows overnight, following gains on Wall Street. China's mainland markets remain closed for holidays.U.S. yields have been rising in recent weeks as investors reprice the chance of the...
Currencies

Global bond rout deepens before receding on relief rally

U.S., European, Japanese bond rout deepens10-year Treasury yields hit 16-year high above 4.88%Wall Street mixed, Euro STOXX 600 lowerNEW YORK/LONDON, Oct 4 (Reuters) - A rout in government bond markets deepened on Wednesday with benchmark U.S. yields hitting fresh 16-year highs as investors bet that persistently high interest rates will slow world growth and dampen the appetite for riskier assets.Treasury yields later receded on a cooler-than-expected U.S. private payrolls report that helped stocks on Wall Street rebound from Tuesday's sharp sell-off.Growth concerns weighed on crude oil and gold prices, and...
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