By Lewis Krauskopf | NEW YORK NEW YORK Arguing over politics is a Thanksgiving Day tradition, but Donald Trump’s presidential election adds a new twist to any bickering at next week’s holiday dinner table: What the new U.S. government could mean for your stock portfolio. Trump’s shock victory last Tuesday sent investors scrambling to change bets predicated on a win by Hillary Clinton, leading to huge stock […]
Both Google and Apple rely on its individual app stores as an added selling point for its smartphone products, because what’s a smartphone without the apps? Simply banking on a huge library, however, is only a small part of the equation. Apps need to have an inherent retention power. They must provide enough features and perform excellently in order to remain situated in a user’s app tray. […]
Abu Dhabi-UAE: November 18, 2016 Abu Dhabi Ports hosted the second edition of The Maritime Standard Ship Finance and Trade Conference in Abu Dhabi this week, which featured engaging discussions aiming to chart a course for the future of the shipping and maritime sectors. The event brought together high profile executives and industry professionals from local, regional and international markets including H.E. Dr. Abdullah Salem Al Katheeri, […]
The Trump trade — sell government bonds because his policies might cause inflation and require huge new borrowing — has already produced a common counter reaction: do not get carried away, this is an opportunity to buy Treasuries before yields collapse again. What it shows is a conditioned response. The first time your dog barks in the night, you leap out of bed with a head full […]
Saudi Arabia’s energy minister thinks OPEC will reach a deal to cut oil output and said a production ceiling of 32.5 million barrels a day would speed the balancing of supply and demand. The group is near a consensus on capping production for at least six months, said his Algerian counterpart. “I am still optimistic that the agreement reached in Algiers to put a ceiling to production […]
China has weakened the renminbi’s trading band for a record 11th straight day, taking its currency to an eight-year low as expectations of US interest rate rises buoyed the dollar against the region’s currencies. This puts the renminbi within a hair’s breadth of suffering a 10 per cent decline versus the dollar since the People’s Bank of China caught markets by surprise with its one-off devaluation in […]
By Patrick Rucker | WASHINGTON WASHINGTON A leading U.S. bank regulator on Friday reversed course and positions the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. The lender must also now seek prior approval before naming new bank leadership, said the Office of the Comptroller of the Currency, the main regulator for federal banks. Friday’s move puts executive […]
A new mainline Pokemon game, codenamed Pokemon Stars, is reportedly in development for Nintendo Switch, and will release for the console sometime next year. According to Eurogamer, several sources have told the outlet that Game Freak is “well into development” on a third version of Pokemon Sun and Moon that will feature the same map, locales and art style of the aforementioned 3DS games, but with improved visuals. Pokemon […]
Neel Kashkari picked a bad day to try to fix the financial system. As the president of the Federal Reserve Bank of Minneapolis unveiled a plan to safeguard the biggest banks on Wednesday morning, shares in the likes of JPMorgan Chase, Bank of America and Citigroup were coming off five days of frantic gains. Analysts, meanwhile, were still pumping out research notes, trying to guess what a […]
You can read a fuller analysis of the markets moves here. Donald Trump’s shock presidential election victory wrongfooted many investors and triggered a convulsion across financial markets — although not always in the way analysts expected. Here are some charts that show how markets have been upended by the unconventional Republican candidate’s triumph and expectations that he will unleash a big economic stimulus package of tax cuts […]
Friday 17:00 GMT. Wall Street slipped as the dollar climbed to a new 13-year high and US government bond yields hit multi-month peaks on Friday on expectations that president-elect Donald Trump’s policies will boost the economy and deliver tighter monetary policy. After a mixed Asia-Pacific session, which included Japanese equities entering a bull market, the pan-European Stoxx 600 slide 0.3 per cent. Investors have been eyeing the […]
The market interpretation of the US election result can be expressed in just three letters, repeated several times: “USA! USA! USA!” Amid the noise that followed last week’s election victory for Donald Trump, one signal was clear — whatever the outcome will be the US, it will be far worse for the rest of the world in general, and emerging markets in particular. Outside of financial crises, […]
“I need that moment when I think, ‘This sucks,’” is how he put it. When he first started running, Engle did it as a form of penance — “I was feeling badly about myself and wanted to punish myself,” he said. Then, as he realized he was good at running long distances, ultramarathons — and other, even more extreme events — became a way to test his […]
Friday 06:00 GMT. The US dollar continues to push higher and sovereign bonds remain under pressure, while major equities benchmarks are on track to finish the week on a positive note. European bourses are expected to open firmer, with spreadbetters predicting the UK’s FTSE 100 will add 5 points to 6,800 and Germany’s Dax to gain 30 points to 10,716. US index futures suggest the S&P 500 […]
For much of the last decade the derivatives industry has been caught in the gravitational pull of the Dodd-Frank act, the sweeping piece of legislation meant to contain the risk of another financial crisis. Six years after its passage, US president-elect Donald Trump wants to dismantle the law. The industry, however is not racing to join him. At this week’s Global Financial Leadership Conference, a gathering of derivatives traders, […]
Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
Amid all the attempts to guess what Donald Trump’s election means for Europe’s trade, security and populist politicians, one conclusion stands out: his administration may be good news for the European Central Bank. The reason is not any particular act by the president-elect; rather, it is the reaction of markets, which could help the European economy and give the central bank more room to act. Foreign exchange […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling […]
Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income. Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 […]
Photo An Israeli settlement surrounded by a defensive wall near the West Bank city of Ramallah. Credit Thomas Coex/Agence France-Presse — Getty Images Right-wing Israeli politicians see Donald Trump’s election as helpful toward their goal of burying the prospect of a Palestinian state. On Wednesday, Israeli lawmakers gave preliminary approval to a bill that would retroactively legalize settlements built on private Palestinian land in the West Bank. […]
JPMorgan has agreed to pay $264m to settle a US probe into its employment of well-connected Chinese “princelings” to win business. The settlement, expected to be announced on Thursday, would be the first to arise from a Securities and Exchange Commission inquiry launched in 2013 to determine whether bank hiring practices breached the US Foreign Corrupt Practices Act. The 1977 law bans companies from paying bribes to […]
Janet Yellen, the Fed chair, is signalling that the US central bank is reluctant to delay its next increase in short-term interest rates “for too long”. Ms Yellen is due to say on Thursday morning that as the Fed sees the case for a rise in rates continuing to strengthen, it “must remain forward-looking in setting monetary policy”. “Were the [monetary policy committee] to delay increases in […]
Cambridge, November 17, 2016 The 2nd Islamic Retail Banking Awards (IRBA) ceremony is scheduled to be held in Dubai on November 28, 2016. Organised by Cambridge IF Analytica, a UK-based financial think tank, IRBA was first launched in 2015 to recognise, reward, and honour the achievements of leading Islamic retail banks and individuals across the globe. This year’s Awards Ceremony will be attended by CEOs of Islamic […]
LONDON Battered bonds and emerging market currencies enjoyed some respite on Thursday as the dollar took a breather from a post-U.S. election charge that has taken it to a 13-1/2 year high. Wall Street looked set for a quiet start and Europe’s main stock markets <0#.INDEXE> were shuffling sideways as the dip in global bond yields cooled bank stocks, which have been rising on better lending profits. […]
