The British pound leaped half a cent to $1.35 on a report that British Foreign Secretary Boris Johnson “will resign before the weekend” if Prime Minister Theresa May opposes his demands on Brexit. Sterling slid nearly 1 percent on Monday after Bank of England Governor Mark Carney said that any interest rate rises would be […]

European Central Bank policymakers disagree on whether to set a definitive end-date for their money-printing program when they meet in October, raising the chance that they will keep open at least the option of prolonging it again, six sources told Reuters. A stubbornly strong euro, with its dampening effect on inflation, is driving a rift […]

A Swiss financial watchdog has closed down providers of a “fake” cryptocurrency called E-Coin. The latest regulatory step follows a series of moves from China to toughen up on bitcoin and other digital tokens, signaling frustration in the continent over the phenomenon. According to the central European country’s Financial Market Supervisory Authority (FINMA), at least […]

Britain’s decision to leave the Europe Union is likely to lead to a net fiscal loss for the U.K. government’s public finances, according to the head of an independent research institute. “The forecast health of the public finances was downgraded by £15 billion ($20.25 billion) per year — or almost £300 million per week — […]

German drugs and pesticides group Bayer said it would likely take until early next year to complete the planned $66 billion takeover of U.S. seeds group Monsanto, which it had previously expected to be under wraps by the end of 2017. The European Commission has been scrutinizing the takeover with a deadline of Jan. 8. […]

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 […]

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 […]

Mexico 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 […]

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 […]

European 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 […]