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Banking

U.S. bank ETFs suffer sharp outflows ahead of results

JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsOct 11 (Reuters) - Exchange-traded funds tracking U.S. banks saw significant outflows since the start of October and ahead of earnings as investors took money off the table fearing elevated interest rates and stricter regulations in the aftermath of the regional bank crisis.In the first 10 days of this month, the $1.46 billion Invesco KBW Bank ETF (KBWB.O) saw net outflows of $336.18 million, while the $2.49 billion SPDR S&P Regional Banking...
Currencies

Bitcoin drops to new two-month low as world markets sell off

A representation of cryptocurrency Bitcoin is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Aug 18 (Reuters) - Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets.On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed.It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since...
Pension

Exclusive: Canadian pension funds explore $6 bln sale of renewables firm Cubico -sources

NEW YORK, Aug 10 (Reuters) - Two of Canada's biggest pension funds are exploring options including a sale of Cubico Sustainable Investments that could value the renewable energy firm at about $6 billion or more, including debt, according to people familiar with the matter.Montreal-based Public Sector Pension (PSP) Investment Board and the Ontario Teachers' Pension Plan (OTPP) are looking to appoint a financial advisor in the coming weeks, the sources said, adding the sale could take several months to complete.The sources, who requested anonymity as the matter is confidential, cautioned...
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