Record sales of non-performing loans are expected in Europe this year with a more urgent approach from policymakers driving increased activity, according to Deloitte. As much as €200bn of debt could be sold during 2017, almost double last year’s total of just over €100bn of sales, said the professional services group, which advises banks and investors on NPL transactions. Europe’s banking sector is weighed down by more […]
Fintech has been gaining momentum across the globe due to the ability of disruptive technology to empower people to avoid being overcharged and underserviced when it comes to handling their money. As the sector moves away from a fad and into a more mature industry that is now seriously impacting the financial world, it is an exciting time for all parties involved. Digital wallets will be owned […]
Feb 16, 2017 10:46 am IST The decision of Indian Prime Minister Narendra Modi to do away with large-denomination notes in November led to a temporary cash shortage that slowed the economy and forced people to queue at banks to get money. New Delhi touted its move as an opportunity to make India’s economy less dependent on cash, saying it will help it shrink the black economy […]
New Zealand telecommunications provider Spark has announced its financial results for the first half of FY17, reporting earnings before interest, tax, depreciation, and amortisation (EBITDA) of NZ$471 million, up 3.5 percent. Revenue was up by 4.1 percent, to NZ$1.79 billion, while earnings after tax amounted to NZ$178 million, up 12.7 percent. Capex increased by 3.7 percent for a total of NZ$224 million, and opex was up by […]
Photo President Trump and Prim Minister Netanyahu entering the White House on Wednesday. Credit Stephen Crowley/The New York Times President Trump came forward with a nonsensical statement on Wednesday as he dangerously backed away from the two-state solution, which has been central to America’s Mideast policy for more than 20 years and remains the only just answer to the Israeli-Palestinian conflict. “So, I’m looking at two-state and […]
Thursday 05.10 GMT Overview The dollar was on the back foot in afternoon Asia trading on Thursday as US Treasuries steadied and oil prices found their footing after dipping on news of growing US stockpiles. Hot topic The dollar index tracking the greenback against a basket of peers was off as much as 0.3 per cent, as a rally spurred by US Federal Reserve chair Janet Yellen’s […]
About 10 years have passed since Google’s stalwart engineers started creating a system that, in all reality, defeats the conventional logic of database services. It’s now named Cloud Spanner, and it’s the first global database — an information storage system spanning millions of machines across data centers placed all throughout the world, which Google itself has long used to maintain proprietary services like Gmail, Google Photos and […]
China ended a six-month streak disposing of its US Treasury holdings in December, adding to its position for the first time since last May as the country’s central bank seeks to manage capital flight. The country, which ceded its status as the world’s largest owner of haven Treasuries in October to Japan, added $9.1bn of US sovereign debt to its reserves in the final month of 2016, […]
By Michael Flaherty and Siddharth Cavale Procter & Gamble Co (PG.N), maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder. P&G’s shares hit a two-year high on Wednesday after Trian disclosed a stake in the consumer products behemoth, which is already trying to slim down by selling unprofitable […]
The paper chore chart has gotten a modern update. Introducing BusyKid, a mobile first site that allows parents to keep track of tasks, while also being a tool to introduce kids to learning about their personal finances. Created by Gregg Murset, a father of six, BusyKid is an online chore chart that promotes work ethic and responsibility. It also educates about money management, serving as a platform […]
For the tattered Rashidiya neighborhood here, the recent battle never ended. It just shifted course along the river. Rashidiya was the last district in eastern Mosul declared liberated in late January, but army officers say Islamic State sleeper cells remain entrenched. Continue reading the main story And those are not the only troubles here. Even as American-backed Iraqi forces prepare an offensive against the Islamic State stronghold […]
The reflation trade is back, in earnest. On Wednesday, all-world stock indices traded at all-time highs for the first time since spring 2015. US 10-year bond yields rose back to 2.5 per cent. Bank stocks rallied, with Goldman Sachs at an all-time high for the first time in a decade. So did tech stocks — Apple is back at a record. All of this after a hawkish […]
Apologies for earlier error in title. Surging inflation, plunging real wages, jumping mortgage delinquencies, and record crude and gasoline inventories… then Trump drops the ‘t’ word and the market melts up… Intraday, March rate-hike odds hit 46%, seemingly surging off “off the table” levels before the week began… Record all-time highs across everything… It’s all banks all the time… The Dow topped 20,600 – […]
Photo A protective wall at the Shuafat Palestinian refugee camp in East Jerusalem. Some Israelis said a two-state solution to the Middle East conflict is impossible because the Palestinians in the West Bank and those in Gaza disagree on too many issues. Credit Daniel Berehulak for The New York Times GAZA CITY — Palestinians reacted with anger and bafflement on Wednesday after the Trump administration apparently backed […]
Wednesday 14:30 GMT Overview Global equities were on track to close at all-time highs as Wall Street hovers near record levels in the wake of comments from Federal Reserve chair Janet Yellen. And Ms Yellen’s more hawkish than forecast rhetoric has been backed up on Wednesday by stronger than expected US retail sales and inflation data that are pushing up the dollar and bond yields, while leaving […]
Cohen Milstein Sellers & Toll PLLC, a 90-lawyer plaintiffs’ firm known for suing big companies and banks, has positioned itself as an early courtroom foe of President Donald Trump. Partner Joseph M. Sellers is now listed as one of the lead attorneys for Citizens for Responsibility and Ethics in Washington in its lawsuit against Mr. Trump, […] (via WSJ)
WASHINGTON Feb 15 U.S. consumer prices recorded their biggest increase in nearly four years in January as households paid more for gasoline and other goods, suggesting inflation pressures could be picking up. The Labor Department said on Wednesday its Consumer Price Index jumped 0.6 percent last month after gaining 0.3 percent in December. January’s increase in the CPI was the largest since February 2013. In the 12 […]
Painting a relatively optimistic economic picture during Congressional testimony this week, Janet Yellen confirmed the Federal Reserve would raise interest rates gradually. It was clear in the sessions, though, that other factors would soon weigh on interest rates and markets. Fiscal policy could make the Fed more hawkish. Yet the political agenda of financial deregulation, coupled with President Donald Trump’s choices for several vacancies on the Fed’s […]
15 February 2017 Abu Dhabi, UAE – Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi International Offset Conference (ADIOC) begins today. ADIOC is organized by the Tawazun Economic Council and is being attended by the global defense industry, government officials and sector experts. The biennial […]
Why am I telling you this story? Because Israel is getting closer every day to wiping out any possibility of a two-state solution. Just last week, Netanyahu’s government pushed through the Knesset a shameful new law declaring that wildcat Jewish settlers who had illegally set up caravans on private West Bank Palestinian land, and erected their own settlement there, will have their settlements legalized, although the Palestinian […]
Submitted by Don Quijones via WolfStreet.com, Spain’s three biggest banks, Banco Santander, BBVA and Caixa Bank, have got off to a flying start this year having issued €8.6 billion in new debt, seven times the amount they sold during the same period of last year. The last time they rolled out so much debt so quickly was in 2007, the year that Spain’s spectacular real estate bubble […]
By Luke Baker | WASHINGTON WASHINGTON President Donald Trump will host Israeli Prime Minister Benjamin Netanyahu at the White House on Wednesday, their first meeting since the inauguration and one that promises to shape the contours of Middle East policy for the years ahead. On the agenda are some of the region’s most volatile issues: the war in Syria, the Iran nuclear file and the Israeli-Palestinian conflict, […]
Dubai’s Emaar Properties intends to reopen its landmark Address Downtown hotel by the end of the year, some two years after the skyscraper was gutted by fire following an electrical fault, its chairman told Al-Arabiya TV on Tuesday. Mohammed Alabbar was speaking after the developer reported a 56 percent rise in fourth-quarter net profits, boosted by higher revenue from property developments as well as the performance of […]
After a day of chaotic communication, a stock sell-off and a $6.3bn writedown that may destroy one of Japan’s greatest industrial names, the Toshiba president’s bow of apology finally came. Satoshi Tsunakawa’s head nodded for just one perfunctory second on Tuesday. Most assume there will be much deeper, longer bows to come as Toshiba leads investors, customers, employees and Japan as a whole through the country’s first […]
