Switzerland has a world-beating position in cross-border investing: its finance industry last year managed SFr6.6tn of assets on behalf of institutions, companies and the rich. So Swiss bankers have a keen interest in the technological revolution sweeping global finance, which has profound implications for the way markets operate. That includes some of the more fantastic ideas about handing the management of clients’ assets entirely to computers — […]
Much of the markets’ mixed reaction reflects uncertainty about a new president who has never held public office, leaving political leaders, business executives and international institutions to make bets on how a Trump administration may rewrite rules that have governed global affairs under American presidents of both parties. Continue reading the main story “For allies and adversaries alike, the election of Donald Trump represents the likely abandonment […]
President-elect ‘s pick for attorney general, Sen. Jeff Sessions, will be facing his first confirmation hearing since 1986 when a Senate panel rejected his appointment to the federal bench. Mr. Sessions would later get elected Alabama attorney general and U.S. senator from the state, a job he’s had since 1997. But his failed confirmation decades ago could loom again […] (via WSJ)
President Bashar al-Assad’s forces seized a wide swath of rebel territory in the embattled Syrian city of Aleppo, spurring the flight of tens of thousands of civilians amid intense fighting that threatens the collapse of the opposition’s last major urban stronghold. Activists and rebel leaders said pro-Assad forces on Monday recaptured the northern districts of the city, which has been divided between opposition forces on the east […]
By Steve Holland and David Brunnstrom | NEW YORK/WASHINGTON NEW YORK/WASHINGTON President-elect Donald Trump on Monday stepped up his search for a new U.S. secretary of state, with the focus on former CIA head David Petraeus, who is a candidate despite admitting he shared classified information with his mistress. The Republican was to meet Petraeus, a retired general, at Trump Tower in Manhattan in a new round […]
Continuing her crusade against some seemingly imaginary election tampering claims, Jill Stein has just announced that she has officially filed a recount petition in the state of Pennsylvania. According to The Hill, Stein released the following statement: “We must recount the votes so we can build trust in our election system. We need to verify the vote in this and every election so that Americans of all […]
By Andrea Hopkins | OTTAWA OTTAWA Canadian Prime Minister Justin Trudeau will not attend the funeral of Fidel Castro, his office said on Monday, days after Trudeau’s warm comments about the late Cuban leader sparked a backlash. Furore over Trudeau’s expression of sorrow at Castro’s death has erupted in both Canada and the United States. Trudeau acknowledged Sunday that Castro had been a dictator as political opponents […]
Trump team rejects effort to push vote recount | Reuters Top News | Mon Nov 28, 2016 | 10:35pm IST ‘+Reuters.inlinevideo.title+’ ‘+Reuters.inlinevideo.length+’ ‘); } WASHINGTON Donald Trump’s transition team on Monday pushed back against an emerging effort to recount votes from the Nov. 8 presidential election, calling it “nonsense,” but not offering any evidence to back the president-elect’s weekend tweet alleging millions of illegal votes. The Green […]
November 28, 2016 by: Jessica Dye in New York and John Paul Rathbone in Miami Donald Trump on Monday threatened to end the Obama administration accord that restored diplomatic ties between the US and Cuba if the former Cold War foe did not negotiate a better deal with his government. Following the death of longtime Cuban leader Fidel Castro on Friday, the US president-elect tweeted that he […]
Law Blog rounds up the morning’s legal news: ‘Millions of people’: President-elect Donald Trump tweeted that he had fallen short in the popular vote in the general election only because millions of people had voted illegally. [NYT] • Despite Trump’s claims, no evidence has emerged so far of widespread voting by illegal immigrants. [WSJ] Trump […] (via WSJ)
Monday 12:00 GMT. Overview Stock markets in Europe are slipping back, led by losses for embattled Italian financials, on concern about potential contagion spreading from the sector into the eurozone financial system after Italy’s reform referendum. Meanwhile the dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.1 per cent, although it is holding […]
By Andrew Callus | PARIS PARIS France’s centre-right rallied behind free market reformist Francois Fillon as its candidate for president on Monday after a snap opinion poll showed him clear favourite to beat far-right leader Marine Le Pen in an election showdown next year. Fillon, a former prime minister who vowed to change France’s “software” with an assault on public sector spending, moved one step closer to […]
Bail in risk – €4 Trillion Italian banking system at risk as referendum looms Sunday according to Financial Times Concerns of multiple bank failures – Eight banks at risk of failure and bail ins Monte dei Paschi di Siena, third largest by assets and mid-sized banks Popolare di Vicenza, Veneto Banca and Carige and four smaller banks Italy’s banks have €360 billion of problem loans Contagion poses risks to Unicredit, […]
Syria’s Foreign Ministry on Monday denounced comments by Qatar that it will continue to back rebels against Syrian President Bashar al-Assad as merely an attempt “to raise the morale of the terrorist groups” in the face of army advances. Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani told Reuters in an interview on Sunday that Doha would continue to arm Syrian rebel groups even if US President-elect […]
Monday 11:30 GMT. Overview The dollar is cooling after its sustained run higher, with the index tracking the world’s reserve currency against six of its rivals down 0.5 per cent, although it is holding the 100-point mark at 100.940. Stock markets in Europe are slipping back, led by losses for embattled Italian financials. Hot topic Oil is likely to loom large over the week before Wednesday’s Opec […]
It’s laudable that Trump wants to bring factories back to USA. But how about virtual, monetary factories? Moving financial institutions such as banks, insurers, brokerage houses, exchanges, and other institutions brings the most bang for the buck when it comes to revitalizing America’s economy. As we explain in Splitting Pennies, even though money doesn’t exist, it’s the most important part of a healthy economy. The business climate […]
By Nelson Acosta and Ana Isabel Martinez | HAVANA HAVANA Cubans will begin massing on Havana’s Revolution Square from Monday for a week-long commemoration of Fidel Castro, the communist guerrilla leader who led a revolution in 1959 and ruled the Caribbean island for half a century. Castro died on Friday at the age of 90, a decade after stepping down due to poor health and ceding power […]
Industry eyes opportunity to reinvest at higher yields and leave low rate era behind ©Noam Galai/WireImage/Getty Donald Trump may be just what the global insurance industry needs. Shares in several of the sector’s largest companies have outperformed the market strongly since the US election, on hopes that a prolonged squeeze on their returns is finally drawing to a close. Years of ultra-low rates have eaten away at […]
TOKYO Oil prices tumbled on Monday on fears that producer countries may fail to agree an output cut, pressuring U.S. stocks and the dollar as traders reversed their “Trumpflation” trade as weak oil prices would reduce pressure on U.S. interest rates to rise. That gave some relief to Asian shares, which had underperformed on worries about capital flight to higher-yielding U.S markets in the weeks since Donald […]
By Roberta Rampton and Dustin Volz | PALM BEACH, Fla./WASHINGTON PALM BEACH, Fla./WASHINGTON U.S. President-elect Donald Trump said in a tweet on Sunday that he won the popular vote in the Nov. 8 election “if you deduct the millions of people who voted illegally”, though he provided no evidence of widespread voter fraud. The allegation by Trump, who won the required votes in the Electoral College to […]
If you don’t like Donald Trump as your president, you can leave the country, a federal magistrate judge told newly minted Americans at a recent U.S. citizenship ceremony in San Antonio. “I can assure you that whether you voted for him or you did not vote for him, if you are a citizen of the United States, […] (via WSJ)
U.S. President-elect Donald Trump on Monday said his administration will scrutinize what he called “abuses” of visas amid speculation that he intends to restrict the flow of skilled workers into his country. In a two-minute video posted on YouTube, Mr. Trump for the first time since the Nov. 8 election articulated to the public what he plans to do during his first 100 days in office. “On […]
By Andy Sullivan | WASHINGTON WASHINGTON An internal dispute among Donald Trump’s advisers broke out into the open on Sunday when his campaign manager warned that the president-elect could face an intense backlash from supporters if he chose Mitt Romney to be his secretary of state. Trump has been weighing whether to pick Romney, the 2012 Republican presidential nominee who spent much of the past year criticizing […]
Donald Trump has attacked Hillary Clinton’s campaign team for backing an election recount effort based on suspicions that foreign hackers rigged the vote in key states, even as the US President-elect made the unsupported claim that “millions” of Americans cast ballots illegally. Reacting to a weekend decision by the Clinton campaign to participate in a recount in Wisconsin, one of three swing states targeted for new counts by […]
