The prospect of a more aggressive Federal Reserve and a surge in the oil price hit global bonds on Monday, sending the yield on the benchmark 10-year Treasury note above 2.5 per cent for the first time since 2014. Treasuries have led a sharp sell-off in sovereign bonds since Donald Trump’s victory in last month’s US election, raising the prospect that Fed officials will have to raise […]
The Chinese government has warned Donald Trump that the two countries will have “nothing to discuss” if the US president-elect’s incoming administration decides to discard the four-decade old “One China” policy. “Adherence to the One China policy is the political bedrock for development of [bilateral] relations,” Geng Shuang, a foreign ministry spokesman, said on Monday. “If compromised, there will be nothing to discuss on co-operation in major fields.” […]
Britain’s exit from the European Union will mean it can forge free trade deals with Gulf Arab allies, foreign minister Boris Johnson said on Friday in a speech also heralding closer defence ties to the conservative monarchies. Johnson was speaking at a conference in Bahrain a day after footage was published of him accusing Saudi Arabia, an important ally for Britain, and Iran of stoking proxy wars […]
This is part of a series on the global rise of exchange traded funds Each day, the investing public hears news of the latest developments in exchange traded index funds (ETFs). But rare is the mention of traditional index funds, which I call Tifs, although the acronym has yet to gain acceptance. In 1976, I created the first Tif. It was named First Index Investment Trust (now […]
Boeing officials, already dismayed by Mr. Trump’s attack last week over the costs of a new Air Force One, acknowledged that the Iran jet deal still faced contingencies — a polite way of saying they were deeply worried about whether Mr. Trump and the Republican-led Congress would support it. Continue reading the main story Beyond that deal, Boeing and other companies that export jet engines, high-tech products […]
The first global crude supply pact in 15 years has underlined the growing energy alliance between Saudi Arabia and Russia, as the depth of the two-year oil slump forces co-operation between once unlikely partners. Russia led the main oil producers from outside the Opec cartel, including Mexico and Kazakhstan, in a deal signed this weekend to reduce supply by 568,000 barrels a day — with Moscow, the […]
By Caren Bohan | WASHINGTON WASHINGTON U.S. President-elect Donald Trump questioned whether the United States had to be bound by its long-standing position that Taiwan is part of “one China” and brushed aside Beijing’s concerns about his decision to accept a phone call from Taiwan’s president. “I fully understand the ‘one China’ policy, but I don’t know why we have to be bound by a ‘one China’ […]
Dubai’s only listed crude shipper has announced plans for a major expansion of facilities in the northern Emirates including a new ship building and repair yard. Gulf Navigation said in a statement that it is starting studies for the expansion, known as the GNH Northern Project. The plan will include ship building, ship repair and offshore platforms, equipment and services, logistics, marine specialised operations and global mobile […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on the expectations of boom times for US stocks, the troubles of active fund managers and Italy’s dilemma after the referendum. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. US stocks may be at record levels but there is no end to […]
PTI BOGOR (INDONESIA)President Joko Widodo Saturday said Indonesia and India must cooperate closely in the key areas defence, security and counter-terrorism as no country is immune to a terror attack and also sought stepping up of bilateral trade ties.“I am very much looking forward to have discussions with Prime Minister Modi,” Widodo told PTI in an interview ahead of his state visit to India, beginning Monday.Widodo said […]
Photo Alexander Novak, Russia’s energy minister, left, with Khalid Al-Falih, Saudi Arabia’s energy and industry minister, after OPEC members and 12 other countries met in Vienna, Austria, on Saturday. Credit Lisi Niesner/European Pressphoto Agency Russia and other oil producers agreed on Saturday to join OPEC nations in a rare, coordinated reduction in oil output meant to lift petroleum prices and revenues to shore up their sagging government […]
By Caroline Valetkevitch | NEW YORK NEW YORK Next week’s Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month’s presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting – in what would be its first […]
Ahead of next week, here are the big questions we are asking at FT Markets What signal will the Federal Reserve send? The last US central bank meeting of the year will unfold on Wednesday with all eyes on officials’ latest assessment of the economy and the press conference of Fed chief Janet Yellen. Plenty has changed since their previous gathering just before the US election. Dollar […]
Abu Dhabi Ports, the master developer, operator and manager of the emirate’s commercial and community ports as well as Khalifa Industrial Zone, has hailed the opening of the new Mohammed bin Rashid Road as a “major milestone”. Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said in a statement that the new highway, which opened on Tuesday, will enable Khalifa Port’s expansion and growth plans. Al […]
For a quick study in market blindness, look at how an obscure US fund reacts to events in a country where markets do not even exist. Nearly two years ago US president Barack Obama and Cuban president Raúl Castro jointly announced their intent to rejuvenate the diplomatic and commercial relationship between their two countries. Until that day, the Cuba closed-end fund had historically traded beneath its net […]
This is part of a series on the global rise of exchange traded funds The morning after the US election Steven Bregman, a New York-based hedge fund manager, began to notice something strange going on in a corner of the stock market. His screen showed that shares of gold mining companies were being sold indiscriminately, falling by double digits, even though the price of gold itself had […]
Submitted by Nomi Prins via TomDispatch.com, Given his cabinet picks so far, it’s reasonable to assume that The Donald finds hanging out with anyone who isn’t a billionaire (or at least a multimillionaire) a drag. What would there be to talk about if you left the Machiavellian class and its exploits for the company of the sort of normal folk you can rouse at a rally? It’s […]
Global investors are turning their backs on French government bonds, reflecting alarm over the capacity for next year’s presidential election to deliver another shock to the eurozone and financial markets. A pronounced drop in French sovereign bond prices suggests they are being treated less like those of a core European economy and more like securities issued by the region’s least creditworthy countries. The selling has pushed the […]
By Peter Gosnell Australian theme park Dreamworld reopened on Saturday having been closed since the end of October following the deaths of four people on its now-shuttered Thunder River Rapids ride. Craig Davidson, chief executive of theme parks at Dreamworld owner Ardent Leisure Group, said reopening the park on the Gold Coast in the eastern state of Queensland was a poignant moment. “Today the smiles of Dreamworld […]
Update, Dec. 9, 2016, 2:22 p.m.: This story has been updated. Donald Trump routinely blasts his political foes for “pay-to-play” politics and “crony capitalism and corruption.” But Trump is now rewarding some of his biggest campaign bankrollers with unparalleled access, influence, prestige and power in his presidential administration-in-waiting, according to a Center for Public Integrity analysis of new campaign finance disclosures filed with the Federal Election Commission. In […]
Opec’s first supply cut in eight years looks set to earn the 13-member cartel an extra $5bn a month in revenues. The 15 per cent rally in oil prices since last Wednesday’s agreement looks like an impressive return from a marginal cut in output, even if the deal was months in the making. Beyond the headline price reaction the market has thrown Opec a curve ball. Oil […]
Saudi Arabia has told its US and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC’s output limits on Saturday in the first such move since 2001. Saudi Arabia told the customers about lower supplies in line with the output reduction agreed by the Organization of the Petroleum Exporting Countries last week, according to a […]
Donald Trump wants Wilbur Ross, the billionaire investor tapped for Commerce secretary, to oversee his trade policy, in a controversial move that could spark a battle between the incoming administration and Congress. Mr Trump has agreed to give Mr Ross, a close friend, responsibility for handling one of his signature campaign issues, the Financial Times has learnt. The move, which would cut the influence of the US […]
By Nate Raymond | NEW YORK NEW YORK A Colombian butcher accused of working with members of the Venezuelan military to facilitate shipments of massive loads of cocaine from South America to the United States was sentenced on Friday to five years in a U.S. prison. Gersain Viafara-Mina, 50, wept as U.S. District Judge Andrew Carter in Manhattan imposed the maximum sentence he faced after pleading guilty […]
