Members of Donald Trump’s administration will have to agree to a lifetime ban on lobbying for foreign governments, his transition team said on Thursday, as the president-elect seeks to reassure voters that he is sticking to his promise to rid Washington of cronyism and corruption. Mr Trump ran on a campaign to “drain the swamp”, but his transition team has sputtered in recent days, flip-flopping on whether it will […]
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 […]
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 […]
Thursday 08:30 GMT. European and US equity gauges are subdued as government bond yields dip from multi-month highs and the dollar stalls after hitting its strongest level since 2003. Following a muted Asia-Pacific session — encapsulated by Japan’s Nikkei 225 closing unchanged — index futures suggest the S&P 500 will dip 1 point to 2,176 when the opening bell rings later in New York, leaving the Wall […]
Since last week’s US elections, emerging market assets have been spooked by the possibility of higher US interest rates and greater trade protectionism. That this should result in sudden and broad-based losses for holders of all types of EM investments — including equities, local debt, external bonds and currencies — should not come as a great surprise. What is unusual, however, is for such large losses to […]
Donald Trump has pushed back on claims that infighting is hampering the critical process of putting in place his cabinet and top officials, insisting that his presidential transition is on track despite a series of dismissals and resignations. “It is going so smoothly,” Mr Trump tweeted on Wednesday, saying reports of chaos inside the team now headed by Mike Pence, his vice-president, were “totally wrong”. He also denied the transition […]
Global investor expectations of inflation have surged to their highest level in more than a decade, according to a survey of money managers that underlines how Donald Trump’s election as US president has electrified financial markets. More than 80 per cent of those surveyed this month by Bank of America Merrill Lynch believe that the global level of prices will rise over the next 12 months. Although […]
Photo Destroyed buildings in the Syrian village of Kfar Jales, near Idlib, on Wednesday, following air strikes by Syrian and Russian warplanes. Credit Omar Haj Kadour/Agence France-Presse — Getty Images LONDON — President Bashar al-Assad of Syria, in his first remarks since the American election, has called President-elect Donald J. Trump “a natural ally, together with the Russians, Iranians and many other countries” in the struggle against […]
Center for Public Integrity veteran John Dunbar has taken over as the organization’s new chief executive officer. Dunbar, 52, has worked at the Center for more than 12 years covering three separate stints. He first worked for the Center from 1999-2006, and during that time created the “Well Connected” project, an investigation of the political ties of the media and broadband industries. He came back briefly in […]
Long-simmering tensions between Donald Trump and the Washington foreign policy establishment burst into the open on Tuesday after a respected former congressman quit the transition team and a leading neoconservative publicly warned colleagues not to join the incoming administration. Mike Rogers, former chair of the House intelligence committee who had been one of the senior figures advising the transition on national security, stepped down as head of […]
|By Matein Khalid| Donald Trump’s shock win will have a profound impact on the GCC economic constellation via multiple feedback loops. His economic policies mean a much higher US dollar, anathema to GCC economies since it correlates with stock/property market crashes, banking stress and oil slumps. This is the macroeconomic linkage due to the GCC US dollar peg whose lessons the region learnt the hard way in […]
The main US markets regulator on Tuesday approved a plan to introduce a vast surveillance system to monitor trading on the $23tn US stock market, ending six years of delays. The move by the Securities and Exchange Commission sets in motion a timetable to bring to reality its Consolidated Audit Trail, a single data warehouse that collects the millions of orders and quotes that daily pass across […]
By Steve Holland and Emily Stephenson | WASHINGTON/NEW YORK WASHINGTON/NEW YORK President-elect Donald Trump closed in on naming two early Wall Street backers to key economic positions but jettisoned a national security expert from his transition team on Tuesday, a sign of the premium he places on loyalty as he confronts the task of building his administration. Trump, a Republican outsider who won a surprise election victory […]
By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]
US President-elect Donald Trump is sending another strong signal that he plans to take a pro-growth and business friendly approach to economic policy, with leading New York investors Steve Mnuchin and Wilbur Ross on his short list for Treasury and Commerce secretary. The pair on Tuesday won the endorsement of billionaire investor and Trump backer Carl Icahn who turned to Twitter after speaking with the incoming Republican […]
By Paul Sandle | LONDON LONDON Google delivered a vote of confidence in London’s future as a technological hub after the Brexit vote on Tuesday by announcing plans for a new building in the King’s Cross area of the city that will house thousands of extra engineers. Google’s Chief Executive Sundar Pichai said computer science had a great future in Britain, citing the talent pool, educational institutions, […]
newslide ‘The Rock’ talks a future in politics, including potential White House run The Rock may have been voted Sexiest Man Alve by People, but the 44-year-old is interested in topping a more serious poll. After parleying a professional wrestling career as The Rock into leading roles in Hollywood, Dwayne Johnson is entertaining the idea of jumping into the political ring, including perhaps even a run for […]
“Phase one is the hope phase,” Stephen Cucchiaro, chief investment officer at 3 Edge Asset Management, says of the reaction in financial markets to president-elect Donald Trump. “As it is a while until he’s president, you can hope for fiscal stimulus getting growth going and reawakening animal spirits.” Evidence of exuberance is not hard to find. S&P 500 financials and heathcare stocks are flying; US 10-year Treasury […]
PARIS U.S. President-elect Donald Trump will have little choice but to adopt a softer line on trade than the one he has flagged during his campaign, although flare-ups with some partners are likely, former WTO chief Pascal Lamy said. With financial markets wondering whether Britain will opt for a hard or soft Brexit, Lamy said that there was a similar scenario for trade under a Trump presidency. […]
November 15, 2016 by: Kathrin Hille in Moscow Vladimir Putin has urged Donald Trump to co-operate on the war in Syria and develop economic ties in his first push to improve strained Russian relations with the US following America’s election. The Russian president spoke by telephone with Mr Trump, the US president-elect, late on Monday and expressed a “willingness to build a dialogue between partners with the […]
Tokyo is struggling to find out who is advising Donald Trump on Japan policy, as the president-elect prepares to meet Prime Minister Shinzo Abe in New York this week in what will be his first meeting with a foreign leader since his victory over Hillary Clinton. Four former US officials said the Japanese embassy had been contacting Asia experts in Washington to identify Trump advisers on Japan […]
By Julia Love and Kristina Cooke | SAN FRANCISCO SAN FRANCISCO Alphabet Inc’s Google said on Monday it is working on a policy change to prevent websites that misrepresent content from using its AdSense advertising network, a move aimed at halting the spread of “fake news” and other types of misinformation on the internet. The shift comes as Google, Facebook Inc and Twitter Inc face a backlash […]
Mary Jo White is stepping down as chair of the Securities and Exchange Commission, putting a spotlight on one of the many regulatory roles Donald Trump will have to fill having promised to loosen rules on the financial sector Ms White, a former federal prosecutor and defence lawyer appointed by President Barack Obama in 2013, said she would leave at the end of the Obama administration, well […]
