Gold jumped on Friday as investors took refuge from equity and debt markets on mounting concerns about the threat of contagion from the euro zone crisis and as worries about a slowdown in U.S. growth fuelled a pullback in risky assets. Spot gold hit a session high of US$1,669.60 a troy ounce. It was bid at $1,666.70 an ounce at 1109 GMT from $1,647.90 an ounce late in New York on Thursday, up 1.1... 

British-based banking giant HSBC has announced it will sell 195 retail branches, primarily in upstate New York, to First Niagara Bank for an estimated $1 billion. “As part of its ongoing US strategic focus on commercial and corporate banking, HSBC Bank USA remains committed to serving and further developing corporate banking relationships in Upstate New York,” the company said in a statement. “HSBC... 

Embattled Rupert Murdoch on Wednesday vowed News Corp. would bounce back from the phone-hacking scandal, saying he would never tolerate such behaviour at his global empire. “I want all of you to know that I have the utmost confidence that we will emerge a stronger company,” he said in a message to staff, seen by AFP. “It will take time for us to rebuild trust and confidence, but... 

The local gold price hit the record high of VND39.1 million per tael over the weekend in line with the global gold price that also reached its highest level on the last trading session last week. Saigon Jewelry Co. (SJC) on Saturday afternoon quoted its selling price at VND39.04 million per tael, rising VND100,000 per tael from the previous day. Meanwhile, Phu Nhuan Jewelry Co. quoted the selling... 

Vietnam’s growing attraction to international travelers is creating a lot of opportunities for United Airlines to maintain business growth momentum in this Southeast Asian country, said the airline’s vice president for Asia Pacific. James Mueller told reporters in HCMC last week that Vietnam was emerging as a tourist destination and more travelers had been interested in this country. Moreover,... 

Asian stocks were mixed Monday as news that fewer than expected European banks failed stress tests was tempered by fears US lawmakers will not agree a budget that will help avoid a catastrophic default. Hong Kong gained 0.66 per cent and Seoul fell 0.56 per cent while Sydney, Shanghai and Taipei were all flat. Tokyo was closed for a public holiday. The European Banking Authority said on Friday that... 

The euro was steady against the dollar in Asian trade on Wednesday after sliding following a Moody’s downgrade of Portugal to junk status, tempering optimism over progress on eurozone debt. The euro fetched $1.4443 from $1.4418 late in New York on Tuesday, compared with levels above $1.45 Monday. It was at 116.91 yen, down from 117.32 Tuesday. Against the Japanese currency, the dollar bought... 

JPMorgan Chase & Co agreed to pay $153.6 million to settle U.S. Securities and Exchange Commission charges that it defrauded investors who bought mortgage securities sold just before the nation’s housing market collapsed. The regulator’s complaint against the banking giant was larded with excerpts from internal JPMorgan communications that indicated bankers sold a collateralised mortgage... 

Oil prices plummeted Wednesday to below $95 a barrel in New York as investors fretted about fresh signs of weakness in the US economy and tensions in Greece sent the dollar jumping. New York’s main contract, West Texas Intermediate light sweet crude for delivery in July, closed at $94.81 a barrel, shedding $4.56 from Tuesday. The benchmark futures contract sank to $94.01 in intraday trade, its... 

The euro rose against the dollar on Friday after another set of weak US economic indicators but was held back by persistent concerns over a possible Greek debt default, dealers said. The euro climbed to $1.4317 by 2100 GMT from $1.4141 in New York late Thursday. The dollar fell to 80.77 yen from 81.29 yen on Thursday. The dollar began falling on Thursday after a report showed US jobless claims rose...