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UBS finished a tough 2016 on an upbeat note, with an unexpectedly strong increase in fourth-quarter profits, and has predicted improved US investor confidence would this year boost its wealth management businesses. However, Sergio Ermotti, chief executive, warned the more positive US trends were not mirrored globally, and UBS’s shares fell 1.2 per cent in early trading as analysts raised concerns about unexpected fourth-quarter outflows of clients’ […]

Friday 08:25 GMT Overview The US dollar is in the ascendancy as the currency once again benefits from hopes for a stronger US economy — optimism that also has helped push Wall Street to record levels. European bourses are mixed after a holiday-thinned Asian session. Commodities are muddled, with oil firmer but gold on the back foot. Hot topic The US dollar is in focus as it […]

New York City and President Donald Trump moved closer to a legal confrontation over immigration as the city’s mayor vowed to sue the Trump administration if it cuts off federal funding to “sanctuary” jurisdictions that shelter residents living in the country illegally. The escalating tensions follow Mr. Trump’s signing of an executive order Wednesday formalizing […] (via WSJ)

All three of President Donald Trump’s likely nominees to the U.S. Supreme Court appear to be millionaires, just like the majority of their potential colleagues already on the nation’s highest court and many of Trump’s other picks for senior positions. Those reportedly on Trump’s short list to fill a vacancy created by the death of Justice Antonin Scalia are all federal appellate judges: Judge Neil Gorsuch of […]

BEIRUT: The Trump administration’s expressed interest in setting up safe zones for civilians in Syria was greeted Thursday with caution by Russia and Turkey, who have taken the lead in the latest peace efforts to end the Mideast country’s devastating six-year war.Turkey said it had always supported the idea, but both Ankara and Moscow said such plans would require careful consideration while a senior European Union official […]

January 26, 2017 by: Adam Samson and Mamta Badkar in New York The Dow Jones industrial and transportation averages on Thursday both closed at new highs in a bullish signal for one of Wall Street’s oldest investment theories.  The two US equity benchmarks, which date back to the 19th century, have not recorded highs one after another since December, after which the duo began to diverge as the Trump […]

|By Matein Khalid| The election of a Manhattan property developer and (failed) casino owner as President of the United State has not been positive for most American real estate investment trusts (REIT’s). The sharp rise in US interest rates since the election and the Federal Reserve’s vigilance against inflation risk hits this classic “bond proxy” sector, with its reliance on leverage to boost investor returns. In addition, […]

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If protectionism is about to be unleashed by Donald Trump on America’s closest trading partners, foreign exchange traders are acknowledging the threat in a funny old way. On Wednesday, when Mr Trump issued an executive order to build a wall on the Mexican border, the peso rallied more than 2 per cent. Since slumping to a record low of 22.03 pesos two weeks ago, the currency has […]

January 26, 2017 by: Eric Platt and Joe Rennison in New York The combination of rebounding commodity prices and hopes for faster US economic growth under Donald Trump is helping some of the riskiest corporate borrowers secure cheaper financing and underlines investors’ growing stomach for risk. An expanding list of companies with a triple-C rating — deep within speculative territory — have been able to lock in […]

Photo Joy Reid Credit Stephen Voss for The New York Times A few weeks ago, you said the media should stop covering Donald Trump’s tweets in order to force him into giving a press conference. Now that we’ve seen one, did you find it useful? It wasn’t a press conference, and it wasn’t useful. It was a weird third-world pep rally. Trump could make a very fine […]

It is difficult to understand why Donald Trump’s campaign promise to “make America great again” resounded so deeply with so many. True, the threat of terrorism, rising inequality and job-killing digitalisation have been breeding anxiety for some time. However, on most metrics the US economy has been doing just fine and certainly better than Europe. While the median US household’s real income still stands below peak of […]

WASHINGTON President Donald Trump is expected to order the Pentagon and State Department to produce a plan in coming days for setting up “safe zones” for refugees in Syria and neighbouring countries, according to a document seen by Reuters, a move that could risk escalation of U.S. military involvement in Syria’s civil war. The draft executive order awaiting Trump’s signature signalled the new administration was preparing a […]

Dennis Muilenburg, chief executive of Boeing, welcomed Donald Trump’s habit of individually targeting companies like the US aerospace and defence manufacturer for criticism via Twitter, praising the new president for “directly engaging” with corporate America.  Rather than feeling bullied, Mr Muilenburg was effusive in his praise of the president’s social media strategy, as well as his economic plans including tax reform, saying he was giving business a […]

Earlier today, the New York Times published a 3-page draft of an executive order, allegedly penned by the Trump administration, entitled “Detention and Interrogation of Enemy Combatants.”  According to the NYT, which “obtained” the document from an anonymous source, the executive order seeks to, among other things, reopen overseas CIA “black site” prisons that Obama ordered closed in 2009.  More specifically, the draft order would revoke two […]

Wednesday 14:35 GMT Overview Major global stock markets are rallying as the Dow Jones Industrial Average breaches 20,000 amid revived hopes for faster US growth. Benchmark sovereign bonds yields are rising, but oil and gold prices are moving lower despite a weaker dollar. Hot topic The “Trump trade” is back on and it has the Dow through 20,000 for the first time? The average, though a price-weighted […]

All but one of the students were enrolled in the Deferred Action for Childhood Arrivals program, also known as DACA. Created in 2012 by an Obama-administration executive action, DACA allowed teenagers and young adults who came to the United States illegally as children with their parents to register with the government and in turn receive a two-year renewable protection against deportation, along with work permits and Social […]

The Dow Jones Industrial Average on Wednesday rose above 20,000 points for the first time marking a milestone for Wall Street’s venerable equity barometer as the Trump trade that stalled at the onset of 2017 resumes. The gauge of blue-chip companies climbed 0.5 per cent to 20,014 in opening trading, as US equities extended their record-setting rally that began after the presidential election in November. Investors have […]

Until recently, oil rich Gulf states could afford to ignore global bond markets. While developed and developing countries issued record sums of debt in the years after the financial crisis, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates used the vast oil wealth to propel themselves to affluence. The states — members of the six-country Gulf co-operation council — built skyscrapers, schools and motorways […]

Jan 24, 2017 10:47 am IST President Donald Trump is set to speak with Indian Prime Minister Narendra Modi Tuesday, the White House announced, without providing details about the planned phone call. The conversation will be among several between Mr. Trump and other world leaders this week as he begins his duties as U.S. president. He has already spoken with the leaders of Egypt, Israel, Canada and […]

Investors are signalling a stronger US economy and the risk of rising inflation under the Trump administration, as robust price gains for precious and industrial metals have this month spurred a rise in miners’ shares. MSCI’s ACWI Metals & Mining index, a broad barometer that tracks companies around the world, has rallied nearly 15 per cent in 2017, the strongest year-to-date showing in more than a decade, […]

During his campaign, President Donald Trump assailed a skilled-worker visa program used to send foreigners to the U.S., and in his inaugural speech Friday he said the country would “follow two simple rules; buy American and hire American.” Indian outsourcing firms are already preparing for potential changes to visa rules, which could present a challenge because they send thousands of workers to the U.S. every year via […]

Indian Prime Minister Narendra Modi is set to speak with U.S. President Donald Trump on Tuesday in a conversation that will set the tone for future relations between the world’s largest democracies. New Delhi hopes it can begin to decipher what the country’s top diplomat, S. Jaishankar, last week called a world in 2017 filled with “known and unknown unknowns”—a reflection on the rapidly-changing global landscape marked […]

President Donald Trump has quickly moved to reverse another of Barack Obama’s signature policies, backing two multibillion-dollar oil pipeline projects that became test cases for Washington’s commitment to addressing climate change. Mr Trump said the Keystone XL and Dakota Access pipelines would help to meet his campaign promise of producing new blue-collar jobs at home, insisting that any portions built in the US would have to use […]

By Steve Holland and Valerie Volcovici | WASHINGTON WASHINGTON U.S. President Donald Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental policies in favor of expanding energy infrastructure. While oil producers in Canada and North Dakota are expected to benefit from a quicker route for crude oil to […]

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