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UBS breaks ranks with push for mid-tier Asian millionaires

A UBS advertisement is displayed on top of a commercial building in Hong Kong, China May 2, 2017. Picture taken May 2, 2017. REUTERS/Bobby Yip

UBS Group AG (UBSG.S) plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. The Swiss bank’s sharpening focus on the middle of the wealth market comes as some global banks including Standard Chartered (STAN.L) are ...

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Asian stocks retreat, dollar holds near six-week high on hawkish Fed

A man stands in front of electronic boards showing stock prices and exchange rate between Japanese Yen and U.S dollar outside a brokerage in Tokyo, Japan, January 20, 2017.  REUTERS/Kim Kyung-Hoon

Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve’s hawkish policy statement. European markets looked more positive, with financial spreadbetters expecting Britain’s FTSE 100 .FTSE and Germany’s DAX .GDAXI to open 0.2 percent higher and France’s CAC 40 .FCHI to start the day up ...

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South Korea’s Daewoo Shipbuilding unlocks $2.6 billion bailout after bondholder approval

The name of Daewoo Shipbuilding & Marine Engineering Co is seen on a replica ship displayed at its building in Seoul, South Korea, March 24, 2017.   REUTERS/Kim Hong-Ji

South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd (042660.KS) has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world’s biggest shipbuilder. Daewoo won approval from over 96 percent of bondholders at two meetings on Tuesday and three on Monday, with attendance exceeding 78 ...

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Asia stocks mixed, dollar subdued amid North Korea concerns

A stock quotation board displaying Japan's Nikkei average is seen  at the Tokyo Stock Exchange (TSE) in Tokyo, Japan December 30, 2016. REUTERS/Toru Hanai

Asian stocks were mixed on Tuesday and the dollar gave up the gains it had made when the U.S. Treasury Secretary spoke in support of a stronger currency as escalating tensions around North Korea dragged sentiment lower. Financial spreadbetters predict a mixed start for European stocks, with Britain’s FTSE 100 .FTSE set to open 0.2 percent lower, and Germany’s DAX ...

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Asia:Japanese snack giant Calbee hit by potato shortage

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Japanese potato crisp-maker Calbee and its main rival Koike-Ya are facing a major crunch in their supply chain. Both firms are said to be suspending sales or discontinuing several crisp brands after Japan suffered its worst potato harvest in at least 34 years. Typhoons and floods in Hokkaido, its main potato-growing region, last year caused a shortage of the vegetable. ...

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Asia stocks down, dollar posts gains on positive U.S. data

People walk past an electronic board showing stock prices outside a brokerage at a business district in Tokyo, Japan, January 23, 2017.  REUTERS/Kim Kyung-Hoon

Asian shares fell on Friday as investors balanced positions on the last day of the quarter. The dollar rose on positive U.S. economic growth data and the euro was flat after overnight losses on figures suggesting slowing expansion in Europe. European shares were headed for a muted start, with financial spreadbetters expecting Britain’s FTSE 100 .FTSE to open 0.3 percent ...

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Oil looms large over Saudi king’s Asia tour

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King Salman’s massive entourage has been stealing the show on his tour of Asia, but oil, money and geopolitics are driving the Saudi leader’s month-long journey. Asia’s growing economies are a big deal for Saudi Arabia, which is trying to wean itself off a dependence on oil. “As Saudi looks to the future, Asia of course is front and center,” ...

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Asian shares rise but mood cautious ahead of event-packed week

People walk past an electronic board showing stock prices outside a brokerage at a business district in Tokyo, Japan, January 23, 2017.  REUTERS/Kim Kyung-Hoon

Asian shares rose on Monday, taking their cue from gains on Wall Street after strong U.S. job data, though the mood was cautious as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply. A confluence of major events this week including an expected interest rate hike by the U.S. Federal Reserve, a potentially divisive election in the ...

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Asia:Toshiba Tec shares rise more than 6 percent on sale report

Reporters raise their hands for a question during a news conference by Toshiba Corp CEO Satoshi Tsunakawa and other senior sompany officials at the company's headquarters in Tokyo, Japan February 14, 2017. REUTERS/Toru Hanai

Shares in Toshiba Tec Corp (6588.T) rose more than 6 percent in early Monday trading after a report that Toshiba Corp (6502.T), the parent, is considering selling shares in the company. Toshiba Corp denied a Nikkei business daily report that it was looking to sell shares in Toshiba Tec, a maker of cash register systems, as it seeks to plug ...

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China posts rare trade deficit in February as imports gallop

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China produced a rare trade deficit in in February after imports galloped, official data showed Wednesday. Exports fell 1.3 percent from a year earlier in February against a Reuters analyst poll predicting a 12.3 percent rise, but imports soared 38.1 percent from a year ago, beating forecasts of a 20 percent jump. The numbers compared against a 7.9 percent on-year ...

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