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Deutsche Bank and Credit Suisse have agreed to pay out billions to resolve a probe into the alleged mis-selling of mortgage-backed securities at the height of the US housing bubble, striking deals before the Trump administration takes power. The deals came as federal prosecutors announced they were suing Barclays and two of its executives over the issue of allegedly fraudulent residential mortgage-backed securities. The suit followed the breakdown of talks […]

Net redemptions from emerging market equity funds reached a five-week high in the latest week amid pressure from the rising dollar and uncertainty about trade policy in the US, especially with China. Investors withdrew $3.7bn from emerging market equity funds in the week to Wednesday, according to EPFR Global, with Asia ex-Japan equity funds seeing net redemptions of $2.36bn, the largest since September of 2015. China equity […]

Law Blog rounds up the morning’s legal news: VW buy-back: Volkswagen agreed to pay around $1 billion to repurchase or fix an additional batch of diesel-powered vehicles tainted with emissions-cheating software, resolving what had become a sticking point more than a year into Volkswagen’s diesel-emissions crisis. [WSJ] Unrevealing: A newly unsealed search-warrant application in the Clinton probe confirms the FBI found thousands of emails potentially linked to […]

Friday 02:50 GMT Overview Asian markets not already shut for the holidays went into retreat, following a negative lead from Wall Street as investors took a breather ahead of the Christmas break. Hot topic Most major global stock markets were on track to finish December in the black, continuing the rally set off by Donald Trump’s presidential election victory in early November. In Asia, Japanese equities have […]

Mr. Trump, who last week nominated as ambassador to Israel a bankruptcy lawyer who heads a fund-raising effort for a West Bank settlement, made clear on Thursday that he would not wait for his inauguration to weigh in. In a statement, he said bluntly that the resolution should be vetoed. Continue reading the main story “As the United States has long maintained, peace between the Israelis and […]

US trade policies under Donald Trump will be key to agricultural commodities next year, as the world continues to grapple with high levels of grain production and inventories, according to a leading forecaster. “The area of concern is whether anything is going to happen that is going to affect our trade with China, which is a big agricultural buyer,” said Don Riffe, senior vice-president for agribusiness intelligence […]

Vladimir Putin and Donald Trump on Thursday called for the strengthening of their countries’ nuclear capabilities. Speaking at a meeting of defence chiefs in Moscow, Mr Putin said Russia needed to “strengthen the strategic nuclear forces, for that we should develop missiles capable of penetrating any current and prospective missile defence systems”, according to the Tass news agency. Mr Putin claimed Russia’s military was able to repel […]

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After five grinding years of losses, commodities are set to end higher in 2016 and investors are staking out increasingly bold calls for the coming year. This reflects signs that the prolonged decline in markets such as oil and metals is finally having an effect. Cuts in capital spending by producers have begun to choke off supplies as global demand creeps higher. It might not be a […]

2016 was fact-checking’s finest year [1]. No it wasn’t, it was the year of “post-truth” [2] — some preferred “post-fact” [3] — and fact-checking is a fool’s errand. The discussion about facts in journalism worldwide has rarely been as fractured and animated as it has been in 2016, so we collected 366 links, one for each day of the year, to try and make sense of what […]

The series of scattershot remarks has further unsettled a turbulent period in American foreign policy. It underscores Mr. Trump’s challenge in fashioning a coherent approach to the problems he will inherit in Asia, Europe and the Middle East, especially working with a team that consists of retired generals and an oil executive, few of whom have experience in the daily cascade of crises that confront every White […]

This is part of a series on the global rise of exchange traded funds You only need to look back to the tumultuous November in markets to see the growing significance of exchange traded funds that track bonds. While a bond from brewing behemoth Anheuser-Busch claimed the crown of being the most heavily traded corporate debt security last month, those volumes were dwarfed by bond ETFs. The average […]

This year could go down as the one that turned everything on its head, India’s popular central bank governor Raghuram Rajan was ejected from his post, Prime Minister Narendra Modi voided 86% of the country’s currency overnight and Donald Trump became U.S. president elect. India Real Time’s most-read stories show what readers were looking at as they tried to make sense of it all. Any insight into […]

WASHINGTON: One of the Middle East’s richest nations said Tuesday it would host its annual Washington party at Donald Trump’s new hotel, underscoring the president-elect’s unusual status as the owner of a major venue for events in the US capital.Salem Al Sabah, Kuwait’s ambassador to the US, said the party would take place Feb. 25, adding that he hopes guests like the “new hotel in town.” He […]

Tackling the theme of evil and how dark forces have affected the region throughout the centuries might seem like an tough task for a 75-minute documentary film, but it was a challenge Emirati director Mansoor Al Dhaheri relished. His film Little Sparta is currently screening in cinemas – but when he announced it on social media, he admits he was surprised by the reaction. It garnered an […]

Tuesday 19:45 GMT Overview A robust session for US equities saw the Dow Jones Industrial Average climb to within a whisker of the 20,000 milestone as participants shrugged off geopolitical concerns and focused on the prospect of stronger growth under the presidency of Donald Trump. The “risk-on” mood in the markets left US Treasury prices and gold lower while the yen — viewed by many as a […]

The “animal spirits” that Donald Trump’s incoming US administration may unleash would have more far-reaching consequences on the economy and financial markets than any specific stimulus package he delivers, according to Bridgewater’s Ray Dalio. Mr Dalio, the founder of the world’s largest hedge fund group, wrote that “if this administration can spark a virtuous cycle in which people can make money, the move out of cash (that […]

By Yeganeh Torbati | WASHINGTON WASHINGTON The United States on Tuesday blacklisted seven Russian businessmen and eight companies and government enterprises over Russia’s annexation of Crimea and the conflict in Ukraine, the U.S. Treasury said in a statement, moves Moscow called “hostile acts.” The sanctions come a month before U.S. President Barack Obama hands over power to President-elect Donald Trump, who has praised Russian President Vladimir Putin […]

Turkey’s lira, the second-worst performing currency of 2016, reverted to type with a bout of volatile trading after the country’s central bank kept interest rates unchanged. After strengthening by nearly 1 per cent ahead of the meeting, the lira came back under pressure and was trading at around TL3.54 to the dollar, although another bout of volatility subsequently pushed it higher in late London trading. Concerned about […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. It could be called the “NBC Very, Very Late Nightly News With Brian Williams.” Instead, it’s “The 11th Hour With Brian Williams” on MSNBC — a new show starring an old face who’s honorably doing what he does well in […]

In a year replete with extraordinary political upheaval and the wrenching loss of artistic icons, the markets have played their part in contributing to the angst. Here is a look at some of 2016’s most notable one-day wobbles. China cracks It started badly. In China, the mainland’s benchmark, the Shanghai Composite index, had closed 2015 near a four-month high after bouncing nearly 21 per cent from its […]

To appreciate this inherent tension, consider Hillary Clinton’s words from the second presidential debate: “It is important for us as a policy not to say, as Donald has said, we’re going to ban people based on a religion. How do you do that? We are a country founded on religious freedom and liberty.” Here Clinton establishes a minimum standard of liberal decency that few American Jews would […]

The paperwork for the Opening Day Foundation listed four directors: Donald Trump Jr., Eric Trump, Dallas investor Gentry Beach and Tom Hicks Jr., the son of a Dallas billionaire. Beach and Hicks are reportedly close friends with Donald Trump Jr., and both men helped raise millions of dollars for Trump’s campaign. “The event is being put on by the Opening Day Foundation,” Kinzie confirmed, adding: “There are […]

The Bank of Japan kept monetary policy on hold and turned optimistic on the growth outlook as a slide in the yen sharply improves the outlook for Japan in 2017. Japan’s economy is “likely to turn to a moderate expansion” with rising domestic demand, large-scale fiscal stimulus and growing exports, the central bank said. Its comments highlight the dramatic turnround from September — when despairing analysts said the […]

aNewDomain — Rex Tillerson, the ExxonMobil chief who Donald Trump has tapped to be the next US secretary of state, was the director of a Bahamas-based US-Russian oil firm, according to leaked documents in the Panama Papers. Tillerson ended the association with the Exxon subsidiary, Exxon Neftegas, in 2001, Exxon rep Scott Silvestri said Monday, a day after the Guardian and reporters at the International Consortium of Investigative Journalists reported the news. […]

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