The finance professor who correctly called the Dow Jones industrial average’s surge to 20,000 said he expects stocks to jump even higher in the last 101 days of the year. The Wharton School’s Jeremy Siegel believes it’ll have a lot to do with President Donald Trump’s intention to get business-friendly reforms passed on Capitol Hill […]
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Investors are betting on a surge in electric car sales after indications that China, the world’s largest market for the vehicles, may soon wind down production and sales of cars using fossil fuel. From the time China’s state-run Xinhua newspaper reported the news on September 11 through Tuesday’s close, investors poured about $143 million into […]
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EIGHT months into Donald Trump’s presidency, the rules-based system of global trade remains intact. Threats to impose broad tariffs have come to nothing. Some ominous investigations into whether imports into America are a national-security threat are on hold. Mr Trump looks less a hard man than a boy crying wolf. All the same, supporters of […]
Read moreS&P Global Ratings downgraded China’s long-term sovereign credit rating by one notch on Thursday to A+ from AA-, citing increasing risks from the country’s rapid build-up of credit. “The downgrade reflects our assessment that a prolonged period of strong credit growth has increased China’s economic and financial risks,” S&P said in a statement, adding that […]
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IN RECENT days China set the record for the world’s fastest long-distance bullet train, which hurtled between Beijing and Shanghai at 350kph (217mph). This was a triumph of industrial policy as much as of engineering. China’s first high-speed trains started rolling only a decade ago; today the country has 20,000km of high-speed track, more than […]
Read moreMore than sloppy cybersecurity measures, the massive data breach uncovered at Equifax revealed inherent flaws in the U.S.: the over-reliance on Social Security numbers credit reporting system in need of reform. The Social Security number is a “chief means” of identifying and gathering information about an individual, according to website of the Social Security Administration. […]
Read moreAn international group of cryptography experts has forced the U.S. National Security Agency to back down over two data encryption techniques it wanted set as global industry standards, reflecting deep mistrust among close U.S. allies. In interviews and emails seen by Reuters, academic and industry experts from countries including Germany, Japan and Israel worried that […]
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German government reportedly favors a Commerzbank-BNP Paribas merger
The German government favors a merger of state-backed Commerzbank with France’s BNP Paribas, German weekly WirtschaftsWoche reported on Thursday, citing financial sources. Discussions at the finance ministry were at an early stage and that the government, which owns a 15 percent stake in Commerzbank after rescuing it during the financial crash, would not discuss the […]
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European markets set to open higher after Federal Reserve hints at December rate hike
European markets were set to open higher on Thursday morning, after the Federal Reserve announced a plan to begin unwinding its balance sheet and signaled one more interest rate hike for this year. Britain’s FTSE 100 is poised to open 7 points higher at 7,271; the German Dax is expected to open up by around […]
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UK leader Theresa May set to deliver major speech on Brexit — here's all you need to know
British Prime Minister Theresa May is poised to travel to Florence, Italy on Friday with ambitions to underline Britain’s hopes for a “special partnership” with the European Union (EU) post-Brexit. In a move likely to be viewed as an attempt to break the current deadlock, May is expected to give an “update on Brexit negotiations […]
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