Tuesday 02:50 BST Overview Stocks around Asia were mostly lower following a flat lead from Wall Street and as momentum after the French presidential election faded. Hot topic Emmanuel Macron, the independent centrist, was elected France’s president in the country’s election at the weekend, beating far-right candidate Marine Le Pen. Although Mr Macron’s victory was a cause for relief in markets and is seen as a broad […]
Robert Mercer, co-chief executive of the hedge fund Renaissance Technologies and one of Donald Trump’s biggest donors, has been sued by a former employee who says he was fired after he publicly criticised his boss’s support for the US president. David Magerman, a long-time research scientist at the fund who had helped it build computer algorithms that make investment decisions, was terminated after giving two newspaper interviews […]
Monday 16:30 BST What you need to know • The euro is losing momentum after touching a six-month high, down 0.6 per cent at $1.0925 • New York equity markets are muted; European equities markets are falling back, led by banks after early momentum from the French election continues to fade • Oil prices have also been volatile with both Brent and WTI seesawing either side of […]
By Nigel Stephenson | LONDON LONDON European stocks and the euro pulled back on Monday from highs touched after Emmanuel Macron’s emphatic but well-flagged victory in France’s presidential election as investors’ focus shifted from politics to monetary policy. With the political risks that have dominated European markets in a year packed with elections seen receding, the European Central Bank is expected to have more room to tighten […]
JERUSALEM Israeli paramilitary police officers shot and killed a knife-wielding Palestinian teenage girl who tried to attack them at an entrance to Jerusalem’s Old City on Sunday, a police spokeswoman said. The incident was the latest in a 19-month-long period of sporadic street attacks by Palestinians against Israelis, and the bustling Damascus Gate entrance to Jerusalem’s walled Old City where it occurred has seen many attacks. Police […]
An eerie calm in capital markets is fuelling fears on Wall Street that a first-quarter rebound in trading revenues could prove a one-off. Big investment banks reported generally solid profits over the first three months of the year, as investors reset their portfolios to take account of higher base interest rates, and as companies front-loaded efforts to raise money. For all bar four of the top 14 […]
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. The image of power was simple: Jared Kushner and Ivanka Trump walking off Marine One Thursday, hand-in-hand, and boarding Air Force One for a short trek to New York City with Kushner’s father-in-law. Yes, Jared Kushner, trusted power broker, to […]
Wall Street people underestimated how nasty and political the struggle over the post-Brexit fate of European clearing houses would become. This week the European Commission offered threats to London-based clearing houses and inducements for their customers to move their trade to the EU. €650bn Value of euro-denominated trades that clear through London each business day UK negotiators in turn demand that euro derivatives clearing should stay in […]
A corner of Wall Street has been gripped by the unknown identity of a trader that has been buying up Vix call options priced at 50 cents each, swelling to account for nearly 10 per cent of the listed market. The FT has now reported that bankers with knowledge of the trades say the so-called “50 Cent” – a reference to the American rapper known for his […]
This post is a fictionalised thought experiment. YOU and YOU ALONE are in charge of what happens in this story. There are trade-offs, choices, and consequences. YOU must use all of your B.S.D. talents and much of your intelligence. Good luck. So… You’re the head of a trading desk, and you’ve felt a bit frustrated of late. Your desk trades government securities issued by the world’s largest […]
You couldn’t rain on Wall Street’s parade. Despite Friday’s Manhattan downpour, a rebound in oil prices and an upbeat jobs report helped the S&P 500 log a new closing high. The benchmark index rose 0.4 per cent to a fresh high of 2,399.27 and was up 0.6 per cent for the week in its third consecutive weekly rise. The rally was led by the energy sector, which […]
Four of the six battery backups that sacrificed themselves to save our gear. Beep. “Honey.” [Sixty seconds go by.] Beep. “Honey.” [Another sixty seconds go by.] Beep. “Honey, something’s beeping.” And thus began what was supposed to be the end of my evening. Here’s one for your wall of weird. About 12:30am on Thursday, my wife and I finally finished up what had been a long work […]
Authored by Mike Krieger via Liberty Blitzkrieg blog, Poverty demoralizes. A man in debt is so far a slave; and Wall-street thinks it easy for a millionaire to be a man of his word, a man of honor, but, that, in failing circumstances, no man can be relied on to keep his integrity. – Ralph Waldo Emerson, Wealth Liberty Blitzkrieg readers know that I’ve been extremely critical of […]
Gawd bless yer Mary Poppins. And gawd bless producer Sir Cameron Mackintosh for having the foresight more than 40 years ago to see that the 1964 film would make the perfect stage musical. Well, in the words of the super nanny herself: ‘practically perfect’. Thanks to that foresight, the theatre-lovers of the UAE have the opportunity until May 25 to enjoy this brilliant show being performed at […]
It’s been two years since rumors about an “Apple car” first emerged. Not surprisingly, the notoriously secretive company hasn’t divulged any details about its plans. But if a car is on the horizon, Cupertino can’t stay quiet for too long. You can hide a smartphone in a lab, but it’s difficult to not have a public presence when developing a vehicle, which requires road testing, typically in […]
The pace of US job growth bounced back last month from a weak performance in March, underscoring the Federal Reserve’s view that the economy’s choppy first-quarter performance was probably a blip. The US economy added 211,000 jobs in April, compared with Wall Street expectations of 190,000. Payrolls for March was revised down to just a gain of 79,000 jobs, compared to an earlier estimate of 98,000. Meanwhile, […]
Market Report The FT’s Jamie Chisholm highlights what to watch in markets on Friday. Oil prices sunk to a five-month low below $47 a barrel at one point in Asia, while energy shares struggle. Wall Street futures are well off session lows, with jobs data awaited. May 5, 2017 Produced by Filip Fortuna. Filmed by Rod Fitzgerald. Source link
When NPR’s David Folkenflik was growing up in the Southern California town of Laguna Beach, he would occasionally visit an enormous newsstand where readers could find almost anything they wanted to read. The Economist was next to Time. The surfer magazines were next to the tattoo magazines. The fake or dubious news — the National Enquirers of the world — were also in their own slots, somewhere in the […]
The US energy industry has morphed from 2016’s big winner to the bottom of the heap this year in a slide that has accelerated as oil prices fell on Thursday to the lowest level since November. Energy stocks listed on the S&P 500 index dropped 1.9 per cent on Thursday. The fall brings the sector’s decline this year to 12.1 per cent, the biggest drop of the […]
President Donald Trump’s most recent executive order is probably most noteworthy for what it doesn’t do, so we’ll start there. In February, The Wall Street Journal and other news outlets reported that a draft executive order on religious freedom, sweeping in scope, was circulating in the administration. It would have forced the federal government to “accommodate” […] (via WSJ)
Authored by 720Global’s Michael Lebowitz via RealInvestmentAdvice.com, “History has not dealt kindly with the aftermath of protracted periods of low risk premiums” – Alan Greenspan The ability to see beyond the observable and the probable is the most important and under-appreciated characteristic of successful investors. For example, visualize a single domino standing upright. With this limited perspective, one can establish what the domino is doing in the […]
Wall Street opened slightly higher on Thursday, led by banks, after the Federal Reserve expressed confidence in the strength of the economy. However, gains were limited by a fall in technology and energy stocks. The Dow Jones Industrial Average rose 25.49 points, or 0.12 percent, to 20,983.39. The S&P 500 gained 3.14 points, or 0.13 percent, to 2,391.27 and the Nasdaq Composite added 6.60 points, or 0.11 […]
11:00 am Suppose we could be brave, Bryce, and go with a pic of Jeffery Lacker as our portrait for today 11:01 am Well, he stepped down from the Richmond Fed after fessing up to helping a colleague at a sister publication — Medley — on a story 11:02 am 11:03 am I could give you a rival’s analysis of the story 11:03 am It’s not the […]
Facebook‘s female engineers are less likely to get their code accepted than their male engineer counterparts. That’s according to an internal study reported by The Wall Street Journal, which puts in question Facebook’s efforts to foster diversity. At present, only 33 percent of Facebook’s workforce is composed of females. An astounding number by Silicon Valley’s standards, to be sure, but still an example of the lack of […]
