The Norwegian sovereign wealth fund, the largest in the world, has officially hit $1 trillion. Norges Bank, who manages the fund for Norway, said on its website that the rainy-day pot was never expected to grow so large. “I don’t think anyone expected the fund to ever reach 1 trillion dollars when the first transfer […]
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'We have lost all that money can buy,' says Dominica leader after Hurricane Maria batters Caribbean
Dominican Prime Minister Roosevelt Skerrit used Facebook in the early hours of Tuesday morning to describe the “mind-boggling” real-time impact of Hurricane Maria. “We have lost all that money can buy,” he said at around 01:24 a.m. local time on Tuesday. “My greatest fear for the morning is that we will wake to news of […]
Read moreMexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters. The proposed legislation, which Mexican President Enrique Pena Nieto said this month would be unveiled in the Senate before Sept. 20, seeks to ensure financial stability and […]
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Nine years on from the financial crisis, banks are still working to rebuild trust
Recently a notification from Facebook reminded me that I landed in London almost nine years ago to study journalism. Almost simultaneously the world went through the pain of the global financial crisis. In September 2008, as I made my way to a meeting in Canary Wharf, I saw hoards of people walking out of the […]
Read moreEuropean markets were set to open slightly lower on Tuesday morning, as investors paused for breath ahead of a Federal Reserve meeting. Britain’s FTSE 100 is poised to open 5 points lower at 7,251; the German Dax is expected to open down by around 11 points at 12,554 while the French CAC is set to […]
Read moreAngela Merkel is likely to be re-elected as Germany’s chancellor for a fourth term in an election next Sunday, a result that could seal the continent’s fate in terms of ever closer political and economic union. If voter polls are to be believed, pro-European Merkel’s victory is assured with her conservative coalition ahead of the […]
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THE value of credit-card points has long been a topic of debate among business travellers. The subject is also picked over online on an impressive number of dedicated blogs and forums. Now it is getting an airing in a different sort of venue: the corruption trial of an American senator. Robert Menendez, a Democratic senator […]
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Bank of England's Carney sees Brexit pushing up inflation, rate rise likely
Bank of England Governor Mark Carney said Brexit was likely to push up Britain’s inflation rate and he reiterated the central bank’s new view that interest rates are likely to rise in the comingmonths. Carney, making a speech at the International Monetary Fund’s headquarters in Washington, said the process of globalisation that has led to […]
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IBM far outranks Microsoft as blockchain industry leader, research says
Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study. Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services. Last month […]
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Bond markets in Europe rally after ratings upgrades — but analysts ask if it can last
Prices of peripheral bonds in Europe bounced on Monday, led by Portugal and Ireland riding high on the back of their credit ratings upgrades last Friday, as analysts questioned how much more steam the rally had left in it. By 2 p.m. London time on Monday, the spread between 10-year Portuguese debt and its German […]
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