Satya Nadella is Microsoft Corp.’s new CEO. But he ascends as co-founder Bill Gates returns to a more central role at a company struggling to catch up in mobile and other fast-moving technologies.
Mr. Gates is giving up the chairman’s role to become technical adviser to Mr. Nadella, the 22-year Microsoft veteran who was named Tuesday to succeed Steve Ballmer as its third chief executive. Mr. Gates said he would devote up to a third of his time—which is now largely devoted to philanthropic activities—to help Mr. Nadella craft Microsoft’s product strategy.
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/
“If you want something new, you have to stop doing something old” ― Peter F. Drucker A strategy is a plan of action to achieve a major aim and future result. It requires commitment because making change is difficult. To describe what’s involved, Peter Drucker said: “Strategic planning is the continuous…
Five months ago, the student town of Manipal went abuzz when they realized that one of their own was the leading contender in the race for the top job at Microsoft Corp. For the next five months, it looked like their prayers would easily lead to fruition. But late last…
Yes, Twitter has a growth problem. But more than that, the company has another headache: Getting people to stick around after signing up. According to people close to the company, Twitter has seen more than one billion registrations to its service over the past seven and a half years. Stack…
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 currencies. And that drop has intensified selling pressure as investors rush to pull more money out.
“It has been a disappointing beginning of the year,” said Will Landers, a BlackRock equity portfolio manager with close to $4 billion in assets under management. The BlackRock Latin America Fund is off 10 percent this year.
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…
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
Swedish-American heiress Cristina Stenbeck's bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day. Shares in Kinnevik, which Stenbeck inherited at 24 on the sudden death of her father…
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…
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 Suisse (MLPN.P), Deutsche Bank DBKGN.DE, Goldman Sachs (GS.N), Lloyds Banking Group Plc (LLOY.L), RBS (RBS.L), Societe Generale (SOGN.PA) and Standard Chartered.
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: deutsche, york, bank, matter, currency, markets, trading, source, manipulation
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…
Software AG today unveiled the latest addition to its Apama market surveillance solution with alerts to identify FX (foreign exchange) market manipulation and benchmark fixing. Developed in partnership with tier one banks, these new alerts provide compliance and market monitoring personnel with in-depth monitoring of FX trading, to identify benchmark…
In less than three weeks, the most important election of the year will take place in Switzerland, and you haven’t heard of it. While the U.S. focuses on the recent Republican victory, the financial markets are facing an earth-shaking event on November 30th. This Swiss election seeks to challenge the…
Chinese economic growth slowed to the lowest level since 1999 last year, expanding 7.7%.
Policymakers have recognized the need to rebalance economic growth and are now slowly transitioning away from a credit and export driven economy to one driven by consumer growth. Some argue that the recent crackdown on shadow banking and the money market rate spikes are part of this effort.
But what sort of ripple effects impact is all of this having on the global economy?
First, let’s take a look at economies that rely on China to consume their exports.
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…
11 Ugly Charts That Confirm China's Dramatic Slowdown During the National People's Congress, China's policymakers announced that it would target 7.5% GDP growth target for 2014. This is down from 7.7% growth in 2013, and the recent data shows that the economy is clearly off to a slower start to…
For 31-year old Beijing resident Wang Yuanzhi, talk about a bubble in Chinese property is not something to be too concerned about. "If you look at the real estate market in China, it has already seen a golden decade of extreme fast growth. There will still be room for growth…
I will let you guess where we are in this "cycle". Within a fractional reserve banking system, if the Federal Reserve decreases the discount rate and the rate is lower than the long bond rate by enough of a spread, the banks get motivated to borrow at or close to the discount rate and loan…
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 New York and two traders, said the person, who was not authorized to discuss the matter publicly.
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, source, bank, deutsche, trading, manipulation, york, matter, markets
Software AG today unveiled the latest addition to its Apama market surveillance solution with alerts to identify FX (foreign exchange) market manipulation and benchmark fixing. Developed in partnership with tier one banks, these new alerts provide compliance and market monitoring personnel with in-depth monitoring of FX trading, to identify benchmark…
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…
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…
Tags: bank, head, fired, manipulation, markets, currency, trading, exchange, foreign
None of my tickers are showing much action today. Yen crosses are down modestly but nothing compared to the volatility we’ve seen over the past few days.
The euro tried the upside a few times today and will close out the day with some small gains but tomorrow the ECB decision will surely bring some volatility.
Draghi & Co can opt to do nothing or take action in three different ways:
A 10-15 basis point cut in the main refi rate
Switching to unsterilized bond purchases (QE)
Negative deposit rates
The legality of option #2 is questionable. Any of those move would spark euro selling, partially because it implies more future action.
Ten days ago, the market was comfortable with a wait-and-see decision but soft inflation readings have put pressure on the ECB to act.
There was a lot of uncertainty and debate last summer and fall over whether President Obama would appoint Janet Yellen or Larry Summers as Federal Reserve chair. What wasn’t really up in the air was whether the new head of the world’s most powerful central bank would have a doctorate in economics.…
Germany's Constitutional Court will refer a complaint against the European Central Bank's flagship "unlimited" bond-buying plan to the European Court, removing the prospect of it curbing the program. The court said on Friday there was good reason to think the scheme "exceeds the European Central Bank's monetary policy mandate and thus…
It was almost exactly five years ago that the euro crisis erupted, starting in Greece. Investors who had complacently let all euro-zone countries borrow at uniformly low levels abruptly woke up to the riskiness of an incompetent government borrowing money in a currency which it could not depreciate. There…
The European Central Bank is poised to impose negative interest rates on its overnight depositors, seeking to cajole banks into lending instead and to prevent the euro zone falling into Japan-like deflation. At its meeting on Thursday, ECB policymakers may also launch a loan program for banks with strings attached…
Tags: ecb, euro, rate, deposit, rates, cut, negative, inflation, will
European Central Bank President Mario Draghi hoped never to see this moment: Consumer prices in the euro region have dropped by 0.2 percent, according to December figures just published: Deflation -- a sustained period of falling prices that discourages consumers from spending and businesses from investing -- threatens to worsen the…
Conventional economic policies will not solve unemployment, writes Jørgen Randers, we should think about rationing paid work and introducing compulsory holidays
Will the rich world again see the high economic growth rates we got used to in the decades prior to the year 2000? An increasing number of macroeconomists seem to think that the answer is no. I agree: growth will remain low. Furthermore, conventional policies to enhance economic growth will be ineffective.
There was a lot of uncertainty and debate last summer and fall over whether President Obama would appoint Janet Yellen or Larry Summers as Federal Reserve chair. What wasn’t really up in the air was whether the new head of the world’s most powerful central bank would have a doctorate in economics.
Michael Steinhardt forged the model for making hedge fund billions before exiting the game. With WisdomTree, he’s back to upend Wall Street again–this time, with the little-guy investor at his side.
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 a financial meltdown than during the Asian crisis of the late 1990s. A major reason is lower overall foreign debt exposures.
The yuan has recently been something of a safe haven among emerging-market currencies, yet market participants have learned from a bloody lesson over the past week that it is no longer an easy, one-way bet. A sharp fall of both the onshore and offshore yuan against the greenback made the…
Shanghai's over-the-counter equity market was almost deserted on a weekday morning last week. Two cleaning ladies swept the floor of a trading hall devoid of brokers or computers, while a woman at an information desk ate breakfast and talked on her mobile phone. During four visits this year to the…
Tags: market, investors, financial, markets, china, asian
China's banks disbursed the most loans in any month in four years in January, a surge that suggests the world's second-biggest economy may not be cooling as much as some fear. Chinese banks lent 1.32 trillion yuan ($217.6 billion) worth of new yuan loans in January, beating a 1.1 trillion…
The People’s Republic of China’s (PRC) economy has shown signs of overheating despite a sharp slowdown in economic growth, suggesting that, constrained by the supply of labor, its potential growth rate might have fallen significantly from its past level. With the priorities of the PRC’s authorities shifting from raising economic growth…
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…
