Marketmind: Capped

A look at the day ahead in European and global markets from Tom Westbrook: The Fed is in blackout and the World Cup is starting to get serious. And this week’s calendar is relatively light, leaving traders free to focus on the soccer, save for the U.S. ISM services survey and European retail sales data …

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China services activity shrinks to 6-month lows – Caixin PMI

BEIJING (Reuters) – China’s services activity shrank to six-month lows in November as widening COVID containment measures weighed on demand and operations, a private-sector business survey showed on Monday, pointing to a further hit to economic growth. The Caixin/S&P Global services purchasing managers’ index (PMI) fell to 46.7 from 48.4, marking the third monthly contraction …

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Credit Suisse’s investment bank draws interest from Saudi crown prince – WSJ

(Reuters) – Investors including Saudi Arabia’s crown prince and a U.S. private-equity firm run by a former Barclays CEO have shown interest in investing $1 billion or more in Credit Suisse’s new investment banking unit, the Wall Street Journal reported on Sunday. Crown Prince Mohammed bin Salman is considering an investment of around $500 million …

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U.S., France agreed to “fix” U.S. subsidies issues, says Macron

(Reuters) -President Joe Biden and French President Emmanuel Macron agreed during a state visit earlier this week to “fix” issues arising from U.S. legislation that includes subsidies for American-made products, Macron said in a bid to assuage European concerns. Biden’s Inflation Reduction Act is a new $430 billion bill offering massive subsidies for U.S.-made products …

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Soccer-Brazil’s Vinicius Jr looking to terminate Nike deal, report says

SAO PAULO (Reuters) – Brazil’s Real Madrid forward Vinicius Jr is trying to terminate his sponsorship agreement with Nike Inc, website UOL reported on Sunday, saying the player feels he has been getting unfair treatment from the U.S.-based company. Vinicius Jr, who is currently with the national team at the Qatar World Cup, has contacted …

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Crypto broker Genesis owes Gemini’s customers $900 million – FT

(Reuters) -Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins’ crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said, …

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