January 19, 2017 by: Claire Jones in Frankfurt The European Central Bank has kept interest rates at record lows and the terms of its landmark quantitative easing package unchanged as its president prepares to field questions on an economic outlook full of threats. The bank’s governing council, meeting on Thursday in Frankfurt, left its benchmark main refinancing rate at zero. Its deposit rate, in effect a levy […]
Harris was initially pleased by this development. Top predators have long played an important role in nature. Wolves and cougars once put pressure on bison to keep moving over long ranges of land, and he says, “There was never overgrazing because the predators were behind the animals pushing them on, giving the land naturally a chance to rest.” Harris mimics that cycle of rotation and rest in […]
If this week’s speech by Theresa May on her Brexit plans was designed to reassure the City of London and stop banks from shifting jobs out of the UK, early indications are that it appears to have failed. The prime minister is scheduled to address business leaders at the annual World Economic Forum in Davos Thursday morning, but in the meantime a flurry of senior financiers popped […]
By Lisa Barrington | BEIRUT BEIRUT After years of political deadlock, Lebanon finally has a new government. Now it needs a new economy. Battered by war in neighbouring Syria, neglected by wrangling politicians and caught in rivalry between Saudi Arabia and Iran, the pillars of the economy – remittances from overseas workers, tourism and real estate – are not what they were. Long-term, Lebanon is searching for […]
Thursday 02.10 GMT Overview Asian equities regained upward momentum after comments from Federal Reserve chair Janet Yellen gave wings to a broad recovery for the dollar, weakening regional currencies. Hot topic The dollar index, which measures the US currency against a basket of peers, was up 0.4 per cent after the Fed chair warned that if the US waited too long to continue raising rates, it risked […]
Sir Paul McCartney has sued Sony’s publishing arm as he looks to reclaim US rights to songs he co-wrote with John Lennon in the 1960s and 70s. Sony owns the publishing rights, last year buying out the Michael Jackson estate’s 50 per cent stake in Sony/ATV, the music publishing group, for $750m. The Lennon-McCartney catalogue represents one of Sony/ATV’s crown jewels, spanning the bulk of Beatles’ songs written […]
The Freedom of Information process begins with a letter, right? Why does it become necessary to sue? We bring a lawsuit either when it takes too long for a government agency to respond to our request, or when they do respond but withhold records that we believe should be disclosed. Why has the Center pursued FOIA suits so vigorously? How does the Center differ from other organizations […]
Blockchain has moved on from its Bitcoin past and is being touted as an effective and inexpensive way to safeguard data, with one Singapore-based vendor launching its first blockchain-based authentication tool. Because it provides a shared replicated “immutable” ledger, blockchain can facilitate a “single source of truth” and a secure, tamper-proof system of record, according to Alan Lim, Asean practice lead for IBM Blockchain and Bluemix Garage. […]
China cut its holdings of US Treasuries by $66bn in November, reducing its position in the safe-haven debt to the lowest level since 2010 as the country battles to stabilise its currency. The acceleration in sales — the largest monthly decline since December 2011 — threatens a rise in US interest rates if it continues and follows an unwinding in October that saw China cede its position […]
Via ConvergEx’s Nicholas Colas, Want to know why US stocks feel so fragile? Perhaps we can blame Wall Street analysts. Even after two months of market buzz about lower taxes, infrastructure spending and less regulation juicing investor expectations for better earnings growth, they refuse to bump their revenue or earnings estimates for 2017. Our monthly look at revenue expectations for the companies of the Dow […]
The sole Republican commissioner at the main US derivatives regulator has thrown his hat in the ring to be appointed the next chairman, even as he embraced aspects of financial reforms that Donald Trump’s team wants dismantled. Christopher Giancarlo, of the Commodity Futures Trading Commission, is set to assume the job of acting chairman after Mr Trump’s presidential inauguration on Friday, replacing Tim Massad, the sitting Democratic […]
Janet Yellen, the Fed chair, has warned that the US risks a “nasty surprise” if it waits too long to continue raising interest rates, adding that she expects the US central bank to tighten monetary policy a few times a year until 2019. But on the cusp of Donald Trump’s inauguration as an economy-focused president, she also said slow productivity growth meant the US’s “usual” rate of […]
You, the long-suffering Knicks fan, applauded the team’s acquisition of Carmelo Anthony in 2011. You rejoiced over the reset Dolan orchestrated three years later when he landed 11 Rings Jackson to clean up the mess, to change the culture. Continue reading the main story Now you have pretty much had it with Melo the Martyr and Invisi-Phil. You would probably vote to move on from both, but […]
US financial stocks have come under pressure since the start the year, denting a sharp rise that began after the election, in the latest sign that the Trump trade has begun to run out of steam. The S&P 500 financial sector has fallen 1.1 per cent since the end of 2016, bucking the broader index that has risen by 1.4 per cent. While the financial index was […]
BEIJING China on Wednesday urged the United States not to allow a Taiwanese delegation to attend U.S. President-elect Donald Trump’s inauguration. Trump broke with decades of precedent last month by taking a congratulatory telephone call from Taiwan President Tsai Ing-wen, and he has also said the “One China” policy was up for negotiation. A Taiwan delegation, led by former premier and ex-ruling party leader Yu Shyi-Kun, and […]
New stock trading allegations are set to cast a shadow over Tom Price’s confirmation hearing as health secretary on Wednesday, as Senate Democrats prepare to do battle over Donald Trump’s latest cabinet picks. On Wednesday Senate Democrats and Republicans will question Mr Price, a sitting Republican congressman, over his fitness for the health role and his plans for repealing and replacing Obamacare — a key policy agenda […]
China’s currency was softer after its central bank fixed the renminbi’s trading band at its strongest level in two months in the wake of the dollar’s Tuesday fall against a host of major currencies. The onshore renminbi gained 0.8 per cent against the dollar at the close of trading yesterday as President-elect Donald Trump questioned the value of the dollar, but had weakened 0.3 per cent in […]
Cambodia is to scrap an annual joint military exercise with the US in the latest shake-up in security co-operation between Washington and Southeast Asian capitals. The cancellation comes as Beijing and Washington battle for influence in Southeast Asia amid signs that president-elect Donald Trump’s incoming administration could take a tougher line over China’s maritime territory claims in the region. Countries including the Philippines and Malaysia have already […]
Wednesday 02:20 GMT Overview Currency movements once again dominated trading in Asia as markets reacted to UK Prime Minister Theresa May’s Brexit blueprint and unexpected criticism of the dollar’s strength from US president-elect Donald Trump. Hot topic The dollar index, which measures the US currency against a basket of peers, was up 0.1 per cent at 100.470. It fell 0.8 per cent on Tuesday after comments from […]
Abu Dhabi – UAE, January 17, 2017 The Ministry of Climate Change and Environment (MoCCAE) signed a Memorandum of Understanding with the Food Security Centre – Abu Dhabi on the promotion of food security in the United Arab Emirates. His Excellency Dr Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and HE Mohammed Ahmed Al Bawardi, Chairman of Food Security Center, Abu Dhabi, signed the […]
The US has sued Qualcomm over the way it licenses its technology for mobile phones, hitting at the business that generates most of the US chip company’s profits. The case follows an investigation begun in 2014, but which was accelerated in recent weeks as the Federal Trade Commission moved towards filing a high-profile antitrust case just days before a new administration takes control in Washington. Qualcomm’s shares […]
A much delayed surveillance system to monitor trading in the world’s largest equity market took a big leap forward on Tuesday with the selection of the group to build and operate the project. Founded in 2009, Thesys Technologies, a trading technology provider, beat out the Financial Industry Regulatory Authority and SunGard Data Systems. Called the “Hubble telescope” by one regulator, the so-called Consolidated Audit Trail, or CAT, […]
By Elisabeth O’Leary | EDINBURGH EDINBURGH The British government’s plan for leaving the European Union is “economically catastrophic” and Scotland must have the option of voting for independence if its views on Brexit are rejected, Scottish First Minister Nicola Sturgeon said on Tuesday. Sturgeon, who leads the pro-independence devolved government, was speaking after British Prime Minister Theresa May signalled Britain would quit the European Union single market […]
A senior member of Donald Trump’s team insisted that the president-elect was committed to globalisation, open trade and Nato despite recent comments that unsettled America’s allies. Anthony Scaramucci, Mr Trump’s newly appointed public liaison official, told the World Economic Forum in Davos on Tuesday that the European and American elite had misunderstood Mr Trump and would change their views when he took office. In particular, he argued […]
