Rex Tillerson has set the stage for a major diplomatic clash between Washington and Beijing after the nominee for US secretary of state said China should not be allowed to access islands it has built in the South China Sea. At his confirmation hearing before the US Senate Foreign Relations Committee on Wednesday, Mr Tillerson said China’s construction of artificial islands in the contested sea was “akin […]
By Patricia Zengerle and Yeganeh Torbati | WASHINGTON WASHINGTON Secretary of State nominee Rex Tillerson expressed views on Wednesday at odds with President-elect Donald Trump’s positions on key foreign policy issues like nuclear proliferation, trade deals, climate change and relations with Mexico. In a nine-hour Senate confirmation hearing, the former chief executive of oil company Exxon Mobil (XOM.N) said he favoured maintaining U.S. sanctions against Russia for […]
The New York Stock Exchange is expanding trading on its storied floor as part of a move to an integrated technology system for trading equities and options on its markets. NYSE, owned by Intercontinental Exchange, plans to roll out the technology system, called Pillar, throughout 2017. As part of the move it will increase the number of securities that can be traded on the floor from 3,166 […]
MEXICO CITY Mexico’s government said on Wednesday it would throw its relationship with the United States wide open when it sits down for talks with the incoming U.S. administration, putting security, migration and trade on the table in search of a deal. U.S. President-elect Donald Trump has threatened to tear up a trade agreement that underpins Mexico’s economic model if he cannot renegotiate its terms in his […]
By Julia Fioretti | BRUSSELS BRUSSELS The United States has not satisfied the European Union’s concerns about Yahoo’s (YHOO.O) scanning of all customers’ incoming emails for U.S. intelligence purposes, the bloc’s justice chief told Reuters in an interview. The European Commission, the EU executive, asked the United States in November for clarifications on the secret court order served to Yahoo as part of its monitoring of a […]
Turkish president Recep Tayyip Erdogan’s attempt to take control of all levers of power and a mounting terrorist threat has begun to alarm investors, sending the Turkish lira down 4 per cent to an all-time low on Wednesday. The lira traded at 3.93 to the dollar, down 12 per cent since the beginning of January, clocking its worst performance since a failed coup in July which prompted […]
WASHINGTON U.S. Secretary of State nominee Rex Tillerson said on Wednesday he would recommend a “full review” of the nuclear deal with Iran, but he did not call for an outright rejection of the 2015 accord. Speaking in his Senate confirmation hearing, Tillerson also said he did not oppose the Trans Pacific Partnership free trade deal, but said he shares some of President-elect Donald Trump’s views about […]
To an outsider, it looked preposterous. The archaeologists were cataloging and storing absolutely everything, treating this physical material as though it were digital information — JPEGs of itself. And yet they couldn’t afford not to: Everything a Neanderthal came into contact with was a valuable clue. (In 28 years of excavations here, archaeologists have yet to find a fossil of an actual Neanderthal.) “This is like putting […]
Staff costs are rising faster than beer prices and its market faces intense competition. Still, Hong Kong investors sent Bar Pacific soaring as much as 1,600 per cent on its debut for the best-ever opening day by a pub group anywhere in the world. The group, which specialises in local neighbourhood bars rather than the glitzy city centre offerings more usually associated with Hong Kong, raised HK$45.2m […]
By EconMatters We discuss the Carry Trade, ultimate demise of the European Union, answer viewer questions, touch on the oil market, and dog financial media for the rating`s whores that they truly are in this video. There is some buy the rumor, sell the news effect in the oil market today, but we are still pretty bearish on the fundamentals of the industry, and the current supply […]
After the Indian government’s demonetization announcement late last year, the country has been wrapped in problems arising out of a cash crunch. But there is one place where you can see some new notes. The newly issued 2,000-rupee ($29) notes have now found their way into fabric design. The bright pink design has been printed 504 times on a sari selling in Surat in the state of […]
By Andreas Cremer | BERLIN BERLIN Volkswagen’s (VOWG_p.DE) supervisory board is meeting on Wednesday to approve a draft $4.3 billion settlement with the U.S. Justice Department, marking a milestone in its attempts to recover from its emissions test cheating scandal. Shares in Europe’s biggest carmaker rose as much as 4 percent as investors welcomed the latest move to draw a line under the biggest business scandal in […]
On Wall Street, Donald Trump’s election win spelt pain for the dollar and stock markets right up until the moment he began his acceptance speech in the early hours of November 9 at the New York Hilton. Then the dollar began a trough-to-peak surge that would leave it up almost 3 per cent, a performance only bettered in 2016 on the day after the Brexit vote. S&P […]
Wednesday 08:30 GMT Overview European stocks and US index futures are lacking momentum, while government bond yields see minimal moves, as traders appear wary of making bold bets ahead of a press conference later in the day from US president-elect Donald Trump. The dollar is steady against the euro but the Turkish lira has hit another record low. Industrial commodity prices mostly are holding recent gains. Hot […]
By Engen Tham and Samuel Shen | SHANGHAI SHANGHAI China’s forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan’s prospects to themselves, several bankers said. Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines in the yuan, the bankers from […]
The list grows longer. The names sometimes come via police posts like Police Station 3, and Sagpang described how he compiled them. “A confidential informant came, to say drugs are very prevalent in such-and-such area,” he told me. “We have to dig deeper. We deploy detectives and intelligence operatives” to verify that “Mr. So-and-So is fiddling drugs in the community.” In other words, the police counted on […]
The New York Stock Exchange plans to end floor trading on its NYSE MKT venue for small capitalisation stocks in the latest example of financial dealings going completely electronic. The move, earmarked for the second quarter, comes as NYSE prepares to transition that market to Pillar, an integrated trading technology platform designed for its equities and options markets, according to a regulatory filing. It represents another shuttering […]
The FTSE 100 notched up its longest run of record highs on Tuesday as another low for sterling helped the UK’s blue-chip index outperform European peers. The main London benchmark added 0.5 per cent, up 37.7 points to 7,275.47. It was the FTSE’s ninth consecutive record-high close as well as its 11th consecutive gain, a winning streak it has only equalled three times — in 1997, 2004 […]
The debate about “fake news” has gripped politics since the election of Donald Trump in November and has entered markets as investors spar over a “great rotation” from bonds into stocks. Long predicted by some analysts, expectations of a pronounced rotation out of low-yielding bonds and defensive share sectors into areas of the equity market that prosper from faster economic growth have been heightened by the prospect […]
For more evidence that central bank intervention in the foreign exchange market is increasingly becoming an exercise in futility – look no further than Mexico. The peso briefly sank to a fresh all time low against the dollar on Tuesday, dropping by as much as 1.1 per cent to MXN 21.6227, as concerns continue to mount over incoming US president Donald Trump’s trade rhetoric towards Mexico, report […]
Close on the heels of plans for the first-ever Apple Store in Seoul, South Korea, Apple is all set to embark on building an underground retail store in the historic Liberty Square in Milan. For the unfamiliar, Piazza del Liberty – popularly called the Liberty Square – is one of the most populous metropolitan areas in Italy. The city’s planning department has approved of the construction last month based on […]
“Have you ever eaten Danish food?” Chef Henrik Yde Andersen asks me during a morning Skype call. He is absent-mindedly waving about a cup of coffee as he talks. “It is rather bland – all potatoes and cabbages – and so, when I first encountered Thai cuisine, during a holiday on the island of Krabi many, many years ago, I cried my eyes out – from the […]
They did, and in a finish that was frenzied and frenetic. Trailing by 24-14 at the start of the fourth quarter, the Tigers cut the deficit to 3 with a 4-yard touchdown pass from Deshaun Watson to Mike Williams. After both teams traded missed opportunities, Clemson finally took the lead for the first time in the game with just four minutes remaining when Williams made an acrobatic […]
January 10, 2017 by: Nicole Bullock in New York US stock market bulls can be forgiven for feeling like Vladimir and Estragon, the two characters in Waiting for Godot. Donald Trump’s promise to cut tax and business regulation sent the Dow Jones Industrial Average up more than 8 per cent in quick order following his election in early November. However, it has failed to crack the 20,000 […]
