Asian shares hit 18-month top in festive cheer; oil, gold hold gains

SYDNEY (Reuters) – Asian shares jumped to an 18-month high on Friday while gold and oil prices stayed buoyant in a holiday-shortened week, as investor optimism was boosted by hopes a U.S.-China trade deal would soon be signed. FILE PHOTO: A man is reflected on a stock quotation board outside Continue Reading

Australian wealth manager IOOF hit with class-action lawsuit

SYDNEY (Reuters) – Australia’s embattled second-largest wealth manager, IOOF Holdings Ltd, was sued on Friday by shareholders who alleged the company engaged in deceptive conduct and breached stock market disclosure obligations. The class-action lawsuit is the ninth against a major financial firm since a public inquiry last year uncovered widespread Continue Reading

Scrapping India’s trade privileges could hit U.S. consumers, senators say

NEW DELHI (Reuters) – A U.S. plan to end preferential duty-free imports of up to $5.6 billion from India could raise costs for American consumers, two U.S. senators have told their country’s trade office, urging a delay in adopting the plan, and seeking more negotiations. FILE PHOTO: A man holds Continue Reading