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Having single-handedly hounded Home Capital Group – the company which we predicted in 2015 would be “ground zero” for any potential Canadian financial crisis, and has emerged as the Canada’s equivalent to the infamous New Century which in 2007 presaged the upcoming global financial crisis – into near oblivion, noted chicken-farmer and short-seller, Marc Cohodes, over the weekend revealed the full details behind his latest short thesis: […]

The Federal Reserve is actively considering a profound change in US monetary policy, in effect the reversal of quantitative easing (QE). In its March meeting, the FOMC discussed its strategy for the future run down of its balance sheet, and said that further debate would take place in upcoming meetings. The FOMC has already concluded that “a change in the Committee’s reinvestment policy would likely be appropriate […]

By Suleiman Al-Khalidi | AMMAN AMMAN More than 1,500 rebels and their family members left the devastated district of Qaboun on the edge of the Syrian capital Damascus after more than two months of aerial strikes and artillery shelling, rebels and state media said on Sunday. The rebels had agreed overnight to a secret evacuation deal after being cornered in a small pocket of Qaboun, which lies […]

Emmanuel Macron’s election as president of France received few more rapturous welcomes than that given by Sylvie Goulard, a liberal French politician in the European Parliament and ally of the 39-year-old new head of state. “Finally! Finally, Europe and France reconciled!” Ms Goulard enthused. “What a symbol — a young president, focused on the future, entering the Louvre of the kings of France to the sound of […]

Oman Air, the country’s national carrier, has announced a new initiative to support its employees during hard times. Wings of Support is an employee fund which offers and maintains financial support to staff, the airline said in a statement. It added that staff who fall under financial crisis due to various reasons can now be aided after becoming a member of Wings of Support. The fund will […]

VATICAN CITY Pope Francis called attention on Sunday to the plight of people affected by war and conflict in the Middle East as U.S.-backed forces close in on Islamic State militants in Iraq. “So many innocent people are being sorely tested, be they Christian, or Muslim, or from minority groups like the Yazidi, who are suffering tragic violence and discrimination,” Francis said after his regular Sunday address […]

(This version of the story corrects paragraph 10 to show quote was by Interim CFO Bob Blowes, not Robert Morton as previously stated) By Matt Scuffham TORONTO Home Capital Group Inc (HCG.TO) confirmed on Friday it is considering asset disposals to enable it to refinance more quickly and pay off an emergency loan provided by the Healthcare of Ontario Pension Plan. Shares in Canada’s biggest non-bank lender […]

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When we looked at subprime auto delinquencies most recently, we found some troubling trends: first, in February, we showed that 61+ day delinquencies in General Motors’ subprime securitization book would support a rather bleak thesis for future auto sales, and specifically the demand side of the equation, with January 2017 delinquency rates soaring to the highest levels since late 2009/early 2010.  Ironically, this hasn’t stopped lenders from […]

By David Lawder and William Schomberg | BARI, Italy BARI, Italy The United States said on Saturday the world’s other rich economies were getting used to the policy plans of President Donald Trump, but Europe and Japan showed they remained worried about Washington’s shift. Officials from the Group of Seven nations met in southern Italy hoping to hear more about Trump’s plans which they fear will revive […]

By Kay Johnson | ISLAMABAD ISLAMABAD Pakistan signed new deals with China on Saturday worth nearly $500 million ahead of Beijing’s international forum on its “Silk Road” trade and infrastructure initiative for Asia, Africa and Europe, the Pakistani government said. The memorandums of understanding add to $57 billion already pledged for the China-Pakistan Economic Corridor (CPEC), a network of rail, road and energy infrastructure that is part […]

The huge cyberattack wiped out display screens at rail stations in Germany Cyber security experts rushed to restore systems on Saturday after an unprecedented global wave of cyberattacks that struck targets ranging from Russia’s banks to British hospitals and a French carmaker’s factories. The hunt was on for the culprits behind the assault, which was being described as the biggest cyber ransom attack ever. State agencies […]

Investors wiped $4.6bn from the market value of the US department store sector in the space of two days this week, as concern mounted about sliding sales and the effects of online competition. The consequences are spilling into the real estate and derivatives markets, and the latest bad news has intensified the focus on the sector ahead of more earnings reports from retail heavyweights next week. Five […]

A cybersecurity researcher appears to have discovered a “kill switch” that can prevent the spread of the WannaCry ransomware—for now—that has caused the cyberattacks wreaking havoc globally A cybersecurity researcher appears to have discovered a “kill switch” that can prevent the spread of the WannaCry ransomware—for now—that has caused the cyberattacks wreaking havoc globally, they told AFP Saturday. The researcher, tweeting as @MalwareTechBlog, said the discovery was […]

Romero Rodrigues Contributor Romero Rodrigues is a managing partner at Redpoint eVentures, the Brazilian-focused arm of the Silicon Valley venture firm Redpoint. More posts by this contributor: Fintech is booming around the world. Global investments in fintech companies have continued to rise during the last two years. After international financing for fintech startups hit $19 billion in new funding rounds at the end of 2015, the volume […]

WannaCrypt/WannaCry ransomware has affected Windows XP systems across the globe. Image: Cisco Talos Microsoft has taken the unprecedented step of issuing patches for unsupported operating systems – like Windows XP – in the wake of the massive WannaCrypt ransomware attacks against organisations across the globe. Businesses, governments and individuals in 74 countries across the globe have been victims of more than 45,000 attacks by this one strain […]

ABU DHABI // Young Emirati diplomats will be key to bringing peace and reconciliation to the Middle East, a group of students heard this week. Reconciliation seems difficult amid tensions and turmoil in the Arab world, but Bernardino Leon, president of the Emirates Diplomatic Academy in Abu Dhabi, likened its future to the unification of Europe following the Second World War. “When you think of what’s going […]

Europe’s investment community has barely had time to breathe a sigh of relief following Emmanuel Macron’s victory in the French presidential elections before starting to fret about other latent threats to the eurozone. Some investors have hailed the election — in which Mr Macron, a pro-EU liberal defeated Marine Le Pen, the Eurosceptic rightwing candidate — as a sign that Europe’s economic recovery remains on track. This […]

The three beefy men sharing a laugh looked like old friends, not geopolitical adversaries. A smiling Donald Trump welcomed Russia’s foreign minister Sergei Lavrov and its US ambassador Sergey Kislyak to the Oval Office on Wednesday, just a day after the president had fired the man investigating Moscow’s role in helping him enter the White House. The extraordinary scene was just the latest sign that Mr Trump […]

KINSHASA A person in the Democratic Republic of Congo who died of a hemorrhagic fever has tested positive for the Ebola virus, signaling the start of a new outbreak, the Health Ministry and the World Health Organization (WHO) said on Friday. The case was confirmed from tests on nine people who came down with a hemorrhagic fever in Bas-Uele province in the north of the country on […]

By William Schomberg and David Lawder | BARI, Italy BARI, Italy Finance chiefs from some of the world’s richest nations began a two-day meeting in Italy on Friday, with Europe, Japan and Canada hoping to come away with a clearer picture of U.S. President Donald Trump’s plans on important policies. Inequality, international tax rules, cyber security and blocking the funding of terrorism are the focus of the […]

Beijing is enjoying an unusually long run of clear blue skies thanks to widespread industrial closures ahead of the most important international event hosted by President Xi Jinping. The “New Silk Road” summit has attracted 29 national leaders from four continents and also prompted a nationwide security clampdown, as authorities try to ensure that it proceeds without a hitch. More than 80 other countries, including North and […]

Investors poured $6bn of new capital into European stock funds in the past week, underlining the voracious appetite for assets across the continent as growth accelerates, earnings recover and several of the bloc’s largest countries move past critical elections. The amount of flow in the five days to May 10 is the first time the weekly amount has passed $6bn since at least 2000 when EPFR began […]

MADRID Dozens of protesters against Venezuela’s socialist President Nicolas Maduro massed outside a cultural centre in Madrid on Thursday evening as the country’s ambassador to Spain, who was stuck inside, decried what he called a “kidnapping” by demonstrators. Several hundred people gathered outside the extension of the Venezuelan embassy at around 1630 GMT. By 2100 GMT, dozens of protesters were still chanting “Venezuela, freedom!” at the site […]

By Patricia Zengerle and Arshad Mohammed | WASHINGTON WASHINGTON President Donald Trump blasted ousted FBI chief James Comey as a “showboat” and “grandstander” on Thursday even as the agency’s acting leader contradicted the president’s account that the FBI had been in turmoil before he fired Comey. In testimony before the Senate Intelligence Committee, acting Federal Bureau of Investigation director Andrew McCabe promised to tell the panel of […]

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