Oil stable ahead of OPEC... Global action needed on financial crime says HSBC lawyer...
Oil stable ahead of OPEC
Oil producers are meeting in Algeria this week and there are some optimistic tones from the host nation regarding the potential of a deal among OPEC members.
The OPEC producers are meeting informally alongside a larger International Energy Agency Conference over the next few days and the Algerian energy minister said Sunday that “We will not come out of the meeting empty-handed.”
Oil prices have rebounded from recent losses so far Monday.
Equity markets are under pressure though with the OPEC meeting in focus and a keen eye on the US presidential election race with debates taking place Monday.
Asian indexes closed mostly lower with Sydney the outlier, boosted by gains for the materials sector.
European markets are lower too with energy firms yet to gain from oil prices as concern over the outcome of this week’s talks dominating. There is further decline in the financials sector with Deutsche still declining following news of a US regulator penalty.
Wall Street and Toronto are expected to open lower.
Global action needed on financial crime says HSBC lawyer
The chief legal officer of HSBC is calling for global action to combat financial crime. Stuart Levey told a conference in Geneva that governments need to pass new laws which would enable sharing of information between banks and governments.
Speaking Monday, Levey said that the financial crime compliance mechanisms are outdated and jurisdictions worldwide need to implement legislation similar to that in the US and UK which allows sharing of information between government and private sector organizations.
Oil producers are meeting in Algeria this week and there are some optimistic tones from the host nation regarding the potential of a deal among OPEC members.
The OPEC producers are meeting informally alongside a larger International Energy Agency Conference over the next few days and the Algerian energy minister said Sunday that “We will not come out of the meeting empty-handed.”
Oil prices have rebounded from recent losses so far Monday.
Equity markets are under pressure though with the OPEC meeting in focus and a keen eye on the US presidential election race with debates taking place Monday.
Asian indexes closed mostly lower with Sydney the outlier, boosted by gains for the materials sector.
European markets are lower too with energy firms yet to gain from oil prices as concern over the outcome of this week’s talks dominating. There is further decline in the financials sector with Deutsche still declining following news of a US regulator penalty.
Wall Street and Toronto are expected to open lower.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,261.45 (-0.71 per cent) | -0.73 per cent | +11.93 per cent |
| TSX Composite | 10,717.99 (+0.70 per cent) | +0.29 per cent | +8.73 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,821.85 (-1.27 per cent) | -0.24 per cent | +11.67 per cent |
| German DAX | 10,466.10 (-1.51 per cent) | -1.15 per cent | +8.03 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,220.28 (-1.69 per cent) | -2.62 per cent | -0.36 per cent |
| Japan Nikkei | 16,544.56 (-1.25 per cent) | +1.12 per cent | -7.47 per cent |
| Other Data (at 2.30am ET) |
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| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 45.95 (+0.13 per cent) |
44.61 (+0.29 per cent) |
1337.90 (-0.28 per cent) |
U$0.7578 |
| Aus. Dollar |
|||
| U$0.7611 | |||
Global action needed on financial crime says HSBC lawyer
The chief legal officer of HSBC is calling for global action to combat financial crime. Stuart Levey told a conference in Geneva that governments need to pass new laws which would enable sharing of information between banks and governments.
Speaking Monday, Levey said that the financial crime compliance mechanisms are outdated and jurisdictions worldwide need to implement legislation similar to that in the US and UK which allows sharing of information between government and private sector organizations.
