The CEO of a major European bank offered a stark warning for his industry on Thursday, suggesting that years of accommodative policy by global central banks could quickly turn sour. Low interest rates have been supportive for the world economy, according to ING Group’s Chief Executive Ralph Hamers, but banks have to be “very cautious” […]
Read moreHouse Budget Committee Chairwoman Diane Black told CNBC on Thursday the Republican tax reform plan should provide economic growth of 2.6 percent. “I think it will be larger than that, but we wanted to be conservative,” the Tennessee Republican told “Squawk Box.” Black said the House got that number with data from the nonpartisan Congressional […]
Read moreThe number of Americans filing for unemployment benefits fell to more than a one-month low last week as claims in Texas and Florida continued to decline after being boosted by Hurricanes Harvey and Irma. Initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended Oct. 7, the lowest […]
Read moreU.S. producer prices rose in September as the price of gasoline recorded its biggest increase in more than two years amid production disruptions at oil refineries in Texas caused by Hurricane Harvey. The Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August. In […]
Read moreHSBC has appointed John Flint as its next chief executive the bank said on Thursday, sticking with a tradition of promoting company insiders to run the firm. Flint, who currently runs HSBC’s retail and wealth management business, will start in his new role on Feb 21 2018, taking over from current chief executive Stuart Gulliver, […]
Read moreSterling dropped 0.3 percent on the day against the dollar Thursday morning after Brexit negotiators declared talks between the U.K. and the European Union had reached a deadlock. The euro was trading at £0.9010, up by 0.5 percent, at about 12 p.m. London time (7 a.m. ET) — the U.K. currency hasn’t been at 90 […]
Read moreCurrency, United States Finance
Oil market bulls ‘missing the elephant in the room’ so don’t expect prices to hit $60 a barrel soon
Oil prices are unlikely to reach $60 per barrel anytime soon as hawkish forecasters continue to ignore the “elephant in the room”, a senior economist told CNBC Wednesday. Daniel Lacalle, chief economist and investment officer at Tressis Gestion, said: “The bulls of the oil market are missing the elephant in the room which is efficiency […]
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DEREGULATION, along with tax cuts and trade reform, is one of the three pillars of President Donald Trump’s economic agenda. Republicans promise that, freed of red tape, American firms will invest more and unleash faster economic growth. And while Mr Trump has yet to unite his party around a major piece of legislation, the White […]
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WARS are fought with weapons, but also with money. To understand the global balance of power in the coming decades, it helps to pay attention to the commercial subplot of the North Korean crisis. For the first time, America is attempting to use its full legal and financial might to change the behaviour of Chinese […]
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WARS are fought with weapons, but also with money. To understand the global balance of power in the coming decades, it helps to pay attention to the commercial subplot of the North Korean crisis. For the first time, America is attempting to use its full legal and financial might to change the behaviour of Chinese […]
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