Stocks pared gains and the US dollar initially eased as President Donald Trump’s first address to Congress failed to provide the policy details that markets wanted — and analysts let rip with their disappointment. “We needed him to be a leader. We needed him to give us direction. That is where he let investors down this evening,” said Paul Christopher, head global market strategist for Wells Fargo […]
A new contract for future Olympic Games hosts that makes the protection of human rights a core requirement earned praise from rights groups on Tuesday who say preparations of major sports events lead to rights violations. The International Olympic Committee has now made a specific reference to the protection of human rights in its revised host city contract, sent out to the 2024 summer Olympic bid cities, […]
Just under 70 minutes, 4,825 words, and the message was clear – the speech was about “will” and “Americans” Additionally “Obamacare” was mentioned 5 times, “Historic” was mentioned 3 times, and “massive” twice. .. I am here tonight to deliver a message of unity and strength, and it is a message deeply delivered from my heart. #JointAddress — President Trump (@POTUS) March 1, 2017 President Trump got […]
King Salman’s extravagant travel arrangements have captured the public imagination ahead of the Saudi monarch’s high-profile visit to Indonesia beginning Wednesday, but billions of dollars in oil and other investment deals are also at stake. The trade deals could be worth as much as $25 billion, including a $6 billion project between the two nation’s oil companies, according to Indonesian officials who briefed reporters on the scheduled […]
In recent years the idea that no person or fund can consistently outperform the wider stock market by skill alone has been fashionable. Emboldened by traditional investment houses haemorrhaging market share to automated passive funds, the once-maligned advocates of the efficient market hypothesis have revised their mantra: you can’t beat the market, so buy an exchange traded fund instead. Outsiders listening in to this debate may conclude […]
By Steve Holland | WASHINGTON WASHINGTON After a turbulent start to his presidency, Donald Trump goes before the U.S. Congress on Tuesday night to give a speech that will be closely watched for details of his plans for the economy and whether he can strike a more conciliatory tone. World financial markets will be scrutinizing the 9 p.m. (0200 GMT Wednesday) address in the House of Representatives […]
Singapore-based Olam, one of the world’s biggest food traders, is predicting a revival in chocolate consumption in Europe as prices fall on the back of a bumper west African crop. Cocoa is one of the worst performing commodities this year, with the London benchmark trading at its lowest since 2013 amid concern over a glut in supply in west Africa, the key growing region. Sunny Verghese, Olam […]
Barely a year ago, Vale, the Brazilian mining company, was reeling. Prices of iron ore, its principal export, were at an all-time low, investors were ditching its shares and China — the market on which it most depends — looked as if it was heading for a rapid and uncontrolled slowdown. Fast forward 13 months and iron ore is back in fashion. Vale is producing record amounts […]
With US stock markets hitting record highs last week, the question has to be asked. Has the Trump reflation trade — long in equities, short in bonds — run its course? In the equity market it has been a crowded trade for quite some time. On the bond side, futures market data are telling us that there are exceptionally large speculative bear positions in the market. This […]
WASHINGTON Feb 28 U.S. economic growth slowed in the fourth quarter as previously reported, with robust consumer spending offset by downward revisions to business and government investment. Gross domestic product increased at a 1.9 percent annual rate, the Commerce Department said on Tuesday in its second estimate for the fourth quarter, confirming the estimate published last month. Output increased at a 3.5 percent rate in the third […]
Tuesday 12:30 GMT Overview Global stocks are finishing a positive month on a mixed note as traders appear cautious about making fresh bold bets ahead of Donald Trump’s speech to a joint sitting of the US Congress later on Tuesday. The dollar is fairly steady, while gains for perceived haven assets such as Treasuries and the Japanese yen speak to the underlying tentative tone. Hot topic The […]
By Tom Miles and John Irish | GENEVA GENEVA Russian Deputy Foreign Minister Gennady Gatilov said on Tuesday that a U.N. Security Council resolution put forward by Western powers to punish Syria’s government over its alleged use of chemical weapons would harm peace talks in Geneva. The resolution, which comes amid U.N.-led peace talks between the warring Syrian parties, seeks to ban the supply of helicopters to […]
BISHKEK Russia is confident it will be able to resolve a series of disputes with Belarus, President Vladimir Putin said on Tuesday, referring to disagreements over a joint border and energy deliveries. “I am sure we will be able to find a way out,” Putin told a news conference in Bishkek, the capital of Kyrgyzstan, after meeting his Kyrgyz counterpart Almazbek Atambayev. Earlier this month, Belarus accused […]
New smartphones will use AI to carry out tasks The smartphone revolution is poised to go onto the next level—with “superphones” equipped with artificial intelligence now on the horizon. By learning their owners’ habits, these new phones will be able to carry out tasks even when they’re offline. During a first phase only high-end smartphones will use the technology, like the new models unveiled by China’s […]
28 February 2017 Dubai, UAE – Gulfood 2017, the 22nd edition of the world’s largest food and beverage trade platform, has rubberstamped its standing as a true industry weathervane and innovation laboratory. Right across the 1,000,000 square foot show, which runs until Thursday 2 March at Dubai World Trade Centre (DWTC), up to 90,000 food professionals from 150 countries are absorbing tens of thousands of products being […]
Kim Smith was not given terms and conditions when her employer offered her a fitness tracker last year. The 27-year-old, who holds a junior position in a big media company, entered data such as how much water she drank and her weight on the GPS-enabled device. The number of steps she — and her colleagues who joined the programme — took each day were recorded on a […]
February in Romania has brought 27 consecutive days of protests against the current government, at a scale unmatched since the Revolution in 1989. In a record day, more than 600,000 people gathered in the capital’s Victory Square and around the country to overturn a decision by the current ruling party to decriminalize some acts of corruption and abuse of office. This decision was especially self-serving given the […]
Early last year Olivier Leprêtre signed a new lease on a €2.7m fishing boat. Then the UK voted to leave the EU — and the trawlerman from Boulogne-sur-Mer on the other side of the Channel is already regretting his decision. “If I’d known Brexit would happen, I never would have signed,” he says, gesturing towards the British coastline just 50km away. “It could crush us.” His fears […]
A voracious thirst for petroleum makes the US one of the largest importers of oil. But for the past two weeks it has also scaled the ranks of exporters. Outbound shipments of crude have surpassed 1.2m barrels a day, more than last month’s daily production of Algeria, Ecuador or Qatar, each a member of Opec. The foreign sales underscore how the US has become more integrated into […]
The fact that farm incomes have come under increasing pressure over the past couple of years should come as little surprise to our readers (for those who missed our latest update, see: “Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017“). Unfortunately, at least according to Bank of America’s Global Ag Chemical team led by Steve Byrne, farmers shouldn’t expect a reprieve any […]
Qatar’s January trade surplus increased by 62.2 percent from a year earlier, according to data released by the country’s Ministry of Development, Planning and Statistics. The country’s surplus rose to AED10.9 billion ($3 billion) in January from QR10.7 billion in December and up from QR6.7 billion in January 2016. Qatar’s December trade surplus, which increased 21.7 percent from a year earlier, was its only monthly rise in […]
By Krishna N. Das | LEDA, Bangladesh LEDA, Bangladesh Rohingya Muslim refugee Ali Hasan is desperately looking for a bride for his 14-year-old son, jailed last year in Bangladesh for carrying the popular drug ya ba. He hopes the girl’s family would pay the $620 needed for Mohammed Hasan’s bail as dowry. Graphic – Ya ba in Bangladesh: here Graphic – Bangladesh/Rohingya relocation: here Graphic – Ya […]
Gold’s almost 10 per cent advance this year will be in jeopardy should US president Donald Trump’s key address to Congress on Tuesday reignite the dollar rally and prospect for higher interest rates. The yellow metal has been one of the chief beneficiaries of the cooling this year of the so-called “Trumpflation” trade, which sent the dollar to a 13-year high in early January and helped buoy […]
By Yara Abi Nader and John Irish | GENEVA GENEVA The main opposition group at Syrian peace talks in Geneva wants to meet Russian envoys to discuss what it says are Moscow’s broken ceasefire promises, a move diplomats say aims to put pressure on the Russian-backed Syrian government delegation. Russia has sought to revive diplomacy since its air force helped the Syrian army and allied militias defeat […]
