REPUBLICANS in the House of Representatives had hoped to cut a swathe through the Dodd-Frank act, a titanic set of financial regulations passed in 2010 in the wake of the 2007-09 crisis. The “Financial Choice Act”, drafted last year, would have lessened bureaucratic oversight and relied more on stiff capital requirements. Responsibilities and penalties would […]
Read moreCurrency, United States Finance
Italy's populists' choice of PM is approved as Europe issues a warning over debt
Italy’s head of state has given the country’s populist parties’ choice of prime minister — a law professor called Giuseppe Conte — the mandate to lead the government, amid warnings from Europe for Italy to respect budget rules. Italy’s anti-establishment parties, the 5 Star Movement (M5S) and Lega, proposed Conte as their candidate to lead […]
Read moreCurrency, United States Finance
The 'biggest' change in oil market history: A shipping revolution could prompt crude prices to soar
Instead of OPEC, Iran or even Venezuela, the most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution, analysts have warned. New rules coming into force in approximately 18 months’ time are seen as a source of great concern for some of the […]
Read moreCurrency, United States Finance
European markets seen mixed amid renewed concerns over US-Sino trade talks
European stocks are set to open mixed Thursday morning, after comments from President Donald Trump indicated fresh setbacks in trade talks between the world’s two largest economies. The FTSE 100 is seen little changed from the previous session at 7,779; the CAC is expected to open around 3 points lower at 5,562 while the DAX […]
Read moreCurrency, United States Finance
Deutsche Bank shareholders are ramping up the pressure on the firm's chairman and CEO
Deutsche Bank‘s investors are fed up. The lender’s share price is tumbling, revenues are declining and that despite many big U.S. banks posting record profits. Germany’s biggest bank which, not long ago, wanted to be among the five biggest investment banks in the world, needs some stronger medication to turn around its fortunes, according to […]
Read moreInjecting greater uncertainty into the future of a planned June 12 meeting between Washington and Pyongyang, a senior minister from the rogue state has slammed Vice President Mike Pence for comparing North Korea to Libya. Speaking in May 21 interview on Fox News, Pence said the reclusive regime could end up like the North African […]
Read moreThe U.S. government said late on Wednesday that it would seek to wrestle hundreds of thousands of infected routers and storage devices from the control of hackers who security researchers warned were planning to use the “botnet” to attack Ukraine. A federal judge in Pennsylvania gave the FBI permission to seize an internet domain that […]
Read moreIndonesia’s massively popular ride-hailing start-up Go-Jek is expanding abroad. It will invest about $500 million to move into four new markets in Vietnam, Thailand, Singapore and the Philippines over the next several months, the company said in a Thursday announcement. Initially, Go-Jek will start with ride-hailing before introducing additional services. Go-Jek started off as a […]
Read moreNorth Korea’s vice foreign minister said the future of the summit between Pyongyang and Washington is “entirely” up to the United States and condemned a media interview by U.S. Vice President Mike Pence in which he compared the North to Libya. “We will neither beg the U.S. for dialogue nor take the trouble to persuade […]
Read more