Take a look at "How The Economic Machine Works," an introduction to the economic system by Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates. In the video, the Bridgewater Associates founder stresses three rules of thumb he'd like you to remember: 1) Don't have debt rise faster…
One reason for global market weakness is investors’ fears that emerging market economies may be heading for a broad crisis, sparked by higher U.S. interest rates and slowing growth in China. Much of the analysis in the last few days has focused on why these nations are less exposed to…
The House could vote as early as Wednesday on legislation to raise the country’s borrowing limit, after Republicans met on Monday night in their latest effort to find elusive consensus on one of the final must-pass objectives before Washington goes into election mode. Read more: Debt Ceiling: House Republicans Eye Wednesday…
U.S. Treasury Secretary Jack Lew urged Congress Friday to increase the debt ceiling, saying he is not confident extraordinary measures will last beyond Feb. 27. In a letter addressed to House Speaker John Boehner, Lew highlighted that the Treasury must start implementing "extraordinary measures" to continue to pay the nation's…
Not long after Alan Greenspan stepped down as Federal Reserve chairman in 2006, global financial markets began to unravel. The collapse of a few financial institutions, the near-collapse of many others, a massive bailout by multiple governments, and the worst economic downturn in three-quarters of a century ensued. Lots of…
Citigroup’s head of European spot foreign exchange trading, Rohan Ramchandani, has left the global bank, a spokesperson told Reuters on Friday.
“He is no longer with Citi,” bank spokeswoman Danielle Romero-Apsilos told Reuters.
Asked if Ramchandani, who has been based in London, had been fired amid a global investigation into possible manipulation of currency markets, Romero-Apsilos declined further comment.
Deutsche Bank has fired a currency trader in Argentina amid investigations by global regulators into alleged manipulation of the foreign exchange market, according to a source familiar with the matter, bringing to four the number of traders the bank has dismissed. Ezequiel Starobinsky, a vice president, at Deutsche office in…
Benjamin Lawsky, New York's financial services superintendent, has opened an investigation into manipulation of the currency markets by large banks and is requesting documents from more than a dozen institutions, according to a source familiar with the matter. The source said Lawsky has asked for documents from Barclays BARCR.UL, Credit…
Tags: currency, bank, reuters, trading, probe, investigation, manipulation, asked, markets
Deutsche Bank has fired three currency traders in New York as regulators worldwide ramp up their investigations into potential manipulation of the $5-trillion-a-day foreign exchange market, according to a person briefed on the matter. The three employees include the head of Deutsche Bank’s emerging markets foreign exchange trading desk in…
Tags: bank, exchange, foreign, currency, markets, trading, head, manipulation, fired
Currency traders are having their worst start to a year since 2010 as a dearth of trends in major foreign-exchange markets crushes their investment strategies. Deutsche Bank AG’s Currency Returns Index has dropped 0.3 percent since Dec. 31, dragged down by momentum trading, where investors looks for consistent moves in…
“The negative sentiment is pretty much in place so you can expect a lot more selling,” Mobius, 77, who oversees more than $50 billion in developing nations as an executive chairman at Templeton, said in an interview from Rio de Janeiro today. “We are looking but actually not buying at this stage. Prices can come down or take time to stabilize.”
The plunge in emerging markets is taking a bite out of the performance of funds managed by some of the biggest names on Wall Street, including BlackRock, Brevan Howard and T. Rowe Price. Some mutual funds are already down 10 percent so far this year, thanks to declining stocks and…
Emerging-market equities and exchange rates are again under severe downward pressure, but are the underlying economies really as fragile as global traders seem to fear? The short answer, for a few, is probably “yes,” but for most, “not just yet.” Read more at http://www.project-syndicate.org/commentary/kenneth-rogoff-looks-beneath-the-turmoil-roiling-emerging-economies--equity-and-currency-markets
China’s benchmark money-market rate is set for the biggest weekly drop since December as demand for cash eased after banks met quarter-end capital requirements. The seven-day repurchase rate, a gauge of funding availability in the banking system, tumbled 124 basis points, or 1.24 percentage points, to 2.98 percent as of…
One MINT country show us we need to follow them. Nigeria has "rebased" its gross domestic product (GDP) data, which has pushed it above South Africa as the continent's biggest economy. Nigerian GDP now includes previously uncounted industries like telecoms, information technology, music, online sales, airlines, and film production.…
What the two men in this photograph are doing is now illegal in Russia. Amidst an alarming—and frequently violent— government crackdown, being out, or simply supporting gays and lesbians, can now get you thrown in jail, beaten up, or worse. On the eve of the Sochi Olympics, Jeff Sharlet embeds with the new enemies of the state and reports on life in the Russian underground
Despite all the criticism, the games in Sochi will take place, and they will most likely be deemed a triumph, a validation of Putin’s leadership, unless of course disaster strikes in the form of terrorism or some other tragedy. http://www.nytimes.com
Ukraine's economy is in urgent need of assistance will Russia with Putin as leader help them out ? Vladimir Putin holds brief talks with Viktor Yanukovich at Sochi Games as Ukraine awaits Russian bailout amid uprising. Viktor Yanukovich, who has been battling anti-government protesters since he rejected a trade deal…
Amid continued debate over whether or not Sochi is prepared to host the 2014 Olympics (here are 15 alarming signs that Russia might not be ready) reporters from around the world are starting to check into local hotels — to their apparent grief. Some journalists arriving in Sochi are describing appalling…
The history of statehood on the territory of Ukraine begins with two archetypically European encounters. Medieval statehood on the territory of today's Ukraine, like that of France and England, includes an encounter with Vikings. The men from the north sought to establish a trade route between the Baltic and Black…
Mr. Cook said Apple was “surprised” by the 8% decline in its shares on Jan. 28, the day after it reported lower iPhone sales than projected and warned that revenue in the current quarter might decline from the same period a year ago. Mr. Cook said he wanted to be “aggressive” and “opportunistic.”
With the latest purchases, Mr. Cook said Apple had bought back more than $40 billion of its shares over the past 12 months, which Mr. Cook said was a record for any company over a similar span.
Apple has removed the world’s most popular bitcoin wallet from its App Store. Late Wednesday, the tech giant yanked the Blockchain app from the popular mobile app marketplace and did not provide a specific reason, says Nicolas Cary, the CEO of Blockchain. The app is currently used by about 120,000…
Why is America’s largest cable TV company buying its biggest rival for $44 billion? Well, not to oversimplify things, but that’s easy to explain: http://qz.com/176837/one-sentence-and-six-charts-explain-why-comcast-is-buying-time-warner-cable/
This week, despite being shortened by the observance of Presidents Day with markets closed on Monday, promises a packed schedule of key events that could significantly impact financial markets: 1. Presidents Day, Markets Closed - Monday The week kicks off with a quiet start as U.S. financial markets take a…
