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The EU’s border agency has accused charities operating in the Mediterranean of colluding with people smugglers, according to confidential reports seen by the Financial Times. The accusations from Frontex bring to the fore a long-simmering dispute between EU officials and non-governmental organisations over how to resolve a migration crisis that has caused the deaths of 4,700 people this year alone. Frontex put its concerns in a confidential […]

The offshore renminbi exchange rate grew stronger than its onshore counterpart on Thursday after a closely-watched borrowing rate in Hong Kong for loans denominated in China’s currency broke back into the double digits for only the fourth time in 2016. The Hong Kong interbank borrowing rate for offshore renminbi (CNH) overnight loans (CNH Hibor) rose another 4.4 percentage points to 11.8 per cent today, taking the overnight […]

HELSINKI Finland said on Wednesday it would push the European Union to step up efforts to curb illegal migration by negotiating agreements with Iraq, Afghanistan and Somalia. European leaders are due at a summit on Thursday to discuss results from their recent migration compacts with five African countries – Niger, Nigeria, Mali, Senegal and Ethiopia. In exchange for financial support, the EU requires those countries to impose […]

Long-term borrowing costs for lower-quality US investment-grade companies are nearing 5 per cent — the highest level in nine months — as investors anticipate rising inflation and higher growth, reversing from the six-decade low touched earlier this year. The average yield on the closely followed Moody’s Baa index has climbed to 4.9 per cent, the highest since March when the US credit market slowly recovered from a […]

Syrians were still trapped inside the last rebel foothold in eastern Aleppo on Wednesday, hours after an evacuation was set to begin. The reason for the delay was unclear but residents inside the besieged city said they heard several explosions and gunfire, indicating that the shaky deal between the Syrian opposition and Russia is already strained. After weeks of fierce fighting, President Bashar al-Assad looks set to […]

Ambitions to turn London into a hub for the $70bn insurance-linked security market, one of its fastest growing sectors, face being scuppered by a slow moving regulatory approach. The government wants to introduce new rules that would make it possible to issue these ILS securities in the UK, but industry insiders say that the proposed timetable for approving them would make the new regime uncompetitive against established […]

December 14, 2016 by: Robin Harding in Tokyo Optimism at Japanese companies is on the rise for the first time in 18 months after Donald Trump’s election as US president breathed new life into the country’s drive to escape deflation. The Bank of Japan’s closely watched tankan index for large manufacturers rose from +6 to +10 in December, the first increase since the second quarter of 2015, […]

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Wednesday 02:20 GMT Overview Stock markets across Asia were mixed as anticipation of the Federal Reserve’s policy decision dulled the effect of another set of record highs for Wall Street. What to watch All eyes were on the end of the Fed’s two-day policy meeting later in the day, with the US central bank expected to raise interest rates 25 basis points. Roughly a year ago the […]

The former minister of mines and geology for the African Republic of Guinea was arrested on Tuesday in New York and charged with taking $8.5m in bribes in exchange for assigning lucrative investment rights to a Chinese-owned conglomerate. Mahmoud Thiam, an American citizen, was arrested at his home in Manhattan and was expected to appear in court later in the day. Mr Thiam, a former UBS banker, […]

Investors are making a record bet on global bank shares following the US election, according to a new survey of institutional money managers that also highlights the risks to the sector if Donald Trump fails to deliver faster economic growth. The allocation that investors made to bank stocks this month climbed to a weighting of 31 per cent above their benchmarks, up from 25 per cent in […]

ERBIL, Iraq — The Pentagon announced on Tuesday that a United States airstrike had killed three Islamic State operatives who were involved in mounting terrorist attacks in Europe, including the deadly assault in Paris in November 2015. The three men were killed on Dec. 4 in an airstrike in Raqqa, Syria, the Islamic State’s declared capital, said Peter Cook, the Pentagon press secretary. He described the men […]

Iran has told its scientists to start developing a nuclear propulsion system for shipping, in what it says is a response to the extension of US bilateral sanctions against Tehran. The US Senate voted this month to extend the president’s authority to impose financial sanctions on Iran for a further 10 years. The Islamic Republic regards the move as a breach of last year’s nuclear agreement between […]

Submitted by Lance Roberts via RealInvestmentAdvice.com, During my morning reading, I ran across an interesting article from Paul Lim via Time giving several reasons why the stock market will “rise for a ninth straight year.” “For ordinary Americans, 2017 is likely to feel like the best year economically since the Great Recession.   The recovery is finally expected to trickle down to you in the form of […]

Low interest rates pose one of the biggest threats to the US economy and expose investors to the potential for heavy loses from a price shock across a range of markets, according to an independent arm of the US Treasury. The concerns are raised in the Office of Financial Research’s annual financial stability report to Congress, which concludes that threats to stability remain “in a medium range”. […]

Google, Facebook and other online advertising businesses face strict new privacy rules from Brussels on the ways they can track people online. The new rules would compel websites and browsers, such as Google Chrome, to switch from a default of allowing users to opt out of online advertising to asking them to opt in to view adverts based on their browsing history, according to a leaked draft […]

Russia’s rouble has cemented its position as the best-performing currency of the past three months, enjoying the benefits of a strong oil price at a time when the US appears to be tilting towards a more accommodating relationship with Vladimir Putin. A 2.3 per cent rise in the rouble’s value against the dollar on Monday was followed by a further half per cent gain during Tuesday trading. […]

By Gabriela Baczynska | BRUSSELS BRUSSELS The European Union will not pay towards rebuilding post-war Syria if Moscow and Damascus leave no space in the future for opposition to President Bashar al-Assad’s government, according to a draft joint statement from the EU’s 28 leaders. For weeks, Syrian, Russian and Iranian firepower has pounded rebels – including those backed by the West and Turkey – in what was […]

Demand for oil will outstrip supply in the next six months as long as Opec and countries outside the cartel can implement a deal signed over the weekend to lower output, according to one of the world’s leading energy forecasters. The International Energy Agency said the planned production cuts, which add up to 1.8m barrels a day, could reduce stockpiles by as much as 600,000 b/d over […]

Algebris Investments, a London-based asset manager, is seeking to raise €1bn for a second fund aimed at Italy’s non-performing loans as investors’ interest in what’s been the Achilles heel of the country’s banking sector intensifies. The launch by Algebris, which has $6bn in assets under management, comes amid increased focus by foreign investors on the potential of Italy’s pile of €360bn of problem loans, of which €200bn […]

Here’s a little known fact about supermoons: They’re made up and a complete waste of everyone’s time. Supermoons are a by-product of an always-on media machine that demands a constant stream of things to comment on and—in the absence of actual commentary-worthy items—is more than willing to completely fabricate them. The term “supermoon” refers to a full moon that occurs when the moon […]

After eight years in which interest rates in rich countries have kept close to all-time lows, a change of weather is in the air. Donald Trump’s election as US president and widespread expectations that the Federal Reserve will nudge rates higher this week have made their mark on the markets. The big question is whether short-term pressures for higher US interest rates are strong enough to overturn […]

Tuesday 02:10 GMT Overview Stocks around Asia were on the back foot after Wall Street fell back from record highs while the dollar softened and oil prices struggled to extend gains. Hot topic China has popped back on to investor radars, with mainland stocks falling on Monday by the most in months in the wake of authorities ramping up efforts to crack down on risky equities investments. […]

Trading volumes across markets have soared following the US presidential election, a boon to Wall Street investment banks as money managers prepare for a new environment under the future Trump administration.  Since the November election result, there have been seven days when more than $20bn of investment grade debt has traded hands — a level that had previously only been breached 18 times since data has been […]

By Alastair Macdonald | BRUSSELS BRUSSELS European Union leaders will set out plans this week for negotiating Britain’s exit, diplomats said, after national officials met late on Monday to prepare an EU summit statement. After the 28 national leaders meet in Brussels on Thursday, British Prime Minister Theresa May will leave and the other 27 will dine without her and agree principles on how negotiations with London […]

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