Call it the Trump fade? The so-called Trump trade captivated Wall Street after the surprise election of Donald Trump last November. After years of stagnant economic growth in the wake of the financial crisis, the prospect of Mr Trump’s pro-business agenda, combined with Republican control of both executive and legislative branches of the US government, breathed new life into the ageing equity rally, sent the dollar to […]
This time, the day’s big Trump-Russia-Comey news waited until around 6:00 to break. Former FBI director Robert Mueller has been selected by the US Justice Department to serve as special counsel to oversee the investigation into alleged Russian interference in the 2016 US presidential election. Rod Rosenstein, the US deputy attorney general, said on Wednesday that he had determined it was in the “public interest” to appoint […]
A selfie-app company learned the value of index membership on Wednesday, when shares in Meitu Inc dropped 9 per cent after MSCI said the Hong Kong listed stock would not, as previously announced, enter its China index in June. MSCI had included Meitu in a list of planned index changes published Monday evening, and the sudden reversal highlights the power of index providers to direct money and […]
US stocks were poised on Wednesday to start the trading day on a weak note, while Treasuries rose and the dollar fell, amid mounting concern over the controversies that have engulfed the White House. While Donald Trump’s pro-growth agenda was initially expected to be a boon for risk assets, and a negative for havens, the opposite has played out with increased frequency as the businessman-cum-politician has leapt […]
Target Corp (TGT.N) reported a smaller-than-expected drop in quarterly comparable sales on Wednesday, as sales picked up in March after a slow start to the quarter. Shares of the company rose 6 percent to $57.90 in premarket trading. Sales at stores open at least a year fell 1.3 percent, better than the 3.6 percent drop expected by analysts polled by research firm Consensus Metrix. Net income rose […]
DUBAI Iran’s Supreme Leader Ayatollah Ali Khamenei has criticised as “unworthy” the hostile exchanges between rival candidates in Friday’s presidential election, but said a high turnout would mitigate the impact of any lasting animosity. Rivals have been trading accusations of corruption and brutality in debates and speeches aired on live television and the campaign has been the most bad-tempered in the near 40-year history of the Islamic […]
● Trump controversies rattle nerves● Dollar index hits fresh six-month low● S&P 500 futures slide, dragging down other equity benchmarks● Yen, gold and Treasury prices rise as traders seek havens● Oil relapses after strong rally The dollar is sliding to six-month low and US equity futures are in retreat as investors fret that president Donald Trump’s ability to push through his mooted pro-growth policies is under threat. […]
SINGAPORE — Although Singapore and China are different in size, they face common challenges in innovation and governance, noted Deputy Prime Minister Teo Chee Hean yesterday as he kicked off a high-level bilateral forum on leadership. Delivering the keynote address during the 6th China-Singapore Forum on Leadership, Mr Teo said the common obstacles faced by both countries included an ageing population, a slower-growing workforce, rising expectations of […]
Investors have accelerated their buying of European financial assets in the wake of Emmanuel Macron winning the French presidency, but a top executive at one of the world’s biggest asset managers cautions that the region’s stock markets aren’t as cheap as they appear. European equity funds enjoyed their strongest week of inflows on record last week — pushing the EuroFirst 300 index up 3.7 per cent this […]
Twitter co-founder Biz Stone is returning to guide the messaging platform’s internal culture, as it tries to turn around slow user growth and declining revenue in the face of increased competition. Jack Dorsey, Twitter chief executive and co-founder who returned to try to revive the company almost two years ago, asked Mr Stone back during a relaunch of the company’s weekly Friday afternoon tradition of Tea Time […]
Dubai, 16 May 2017 At ICM Capital LTD, we’re committed to helping our clients transform the way they trade. We know that simply being good for ICM Capital is not enough. We must also be good for our partners and the communities in which we live and work. We’re in a great position to make sure that we set an example in our world of trading. As […]
Europe’s top court has ruled that a key EU-Singapore agreement requires backing by all EU member states — but only for a narrow set of issues — in a decision that could chart the way for a post-Brexit trade accord with the UK. The European Court of Justice ruled that EU member states must sign off on specific areas related to investment in the Singapore trade deal. […]
Yahoo Inc said on Tuesday it would buy back $3 billion of its common shares, ahead of the company’s pending deal with Verizon Communications Inc. Shares in Yahoo, which has a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd, were up 0.6 percent at $50.15 in premarket trading. Yahoo said it would pay between $50.79 and $44.74 per share based on its calculations, Alibaba’s […]
Vodafone redials its Indian impairment numbers. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Hailing from the country that gave India cricket, Victorian railway architecture and a penchant for bureaucracy, Vodafone might have expected a little goodwill on the subcontinent. Instead, India has given the British mobile phone operator a price war, […]
There is much going against South Korea right now, including an anaemic economy, a series of failures in the country’s shipbuilding sector, Chinese boycotts and North Korean belligerence. And yet the country’s stock market keeps hitting records. The Kospi, the Korea’s main equities benchmark, set a record high last week and is up 13 per cent in the year to date, making it one of Asia’s best-performing major markets of 2017. […]
By Guy Faulconbridge and Dustin Volz | LONDON/WASHINGTON LONDON/WASHINGTON The global WannaCry “ransomware” cyber attack spread more slowly on Monday with no major infections reported, as attention shifted to investment and government policy implications of lax cyber security. There were 213,000 infected machines in 112 countries as of 1000 GMT on Monday, according to Czech security firm Avast, making it one of the largest coordinated attacks to […]
U.S. stocks opened higher on Monday as a rise in oil prices boosted energy stocks, soothing some nerves following a massive cyber attack that locked up 200,000 computers in more than 150 countries. Oil hit a three-week high after top exporters Saudi Arabia and Russia said supply cuts needed to last into 2018, a step toward extending an OPEC-led deal to support prices for longer than originally […]
France has today announced a 31-year government bond, in a sign of further market optimism after the victory of Emmanuel Macron in the recent presidential election. The debt, which is expected to price later this week, had been previously planned as part of the country’s funding programme for the year. The timing of the syndicated deal comes just over a week after Mr Macron’s victory in the […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices jumped 1.5 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Brent crude was at $51.58 per barrel at 0621 GMT, up 74 cents, or 1.46 percent, from its last close and […]
A report from the Office of the Australian Information Commissioner (OAIC) has revealed that only 53 percent of people it surveyed were able to nominate an organisation to report the misuse of their information to. The OAIC said that when asked, only 47 percent admitted awareness of a Privacy Commissioner — either federal or state level — but a mere 7 percent said they would report misuse […]
Oil jumped after the energy ministers from Saudi Arabia and Russia said that an OPEC-led agreement to cut output should be extended until March 2018. Saudi energy minister Khalid Al Falih and his Russian counterpart Alexander Novak discussed oil output policy in Beijing after which they made a joint statement. Mr Falih said the next round of cuts will be on the same terms as the first […]
While equity volatility has collapsed to record lows (amid the biggest increase in net VIX shorts in 9 months), positioning across bond, FX, money market, and commodity markets has been shifting massively in recent weeks. As US Macro data has crashed to its weakest and most negative in 12 months… US equity complacency has hit record lows… As Speculators add to VIX shorts by the […]
The cyber attacks that swept the globe on Friday likely aren’t over just yet: current data show more than 1.3m computer systems are still vulnerable to infection to the debilitating WannaCry infection. So far, 200,000 computers across 150 countries are known to have been infected in the first wave of the WannaCry cyber attack, Europol said on Sunday. “The recent attack is at an unprecedented level and […]
President Uhuru Kenyatta of Kenya has called on China to rebalance an increasingly skewed trade relationship between Africa and the rising superpower, arguing that Beijing must do more to tackle a widening trade deficit. Africa’s trade balance with China has moved decisively into deficit due to a fall in the price of many African commodities, such as oil, copper, iron ore and cocoa. In 2015, the most […]
