European Central Bank (ECB) President Mario Draghi will refrain from using language that could potentially excite markets in his speech this Friday at the economic symposium in Jackson Hole having been scarred by his recent experience at another central banking conference in Portugal, say analysts. Bond yields and the euro surged following Draghi’s remark at […]
Read moreSoftBank founder Masayoshi Son is not just the wealthiest man in Japan. He’s not just a tech titan boasting billions of dollars worth of investments in some of the most important companies of our age. Son is his country’s lone mold-breaking entrepreneur. Decision-makers in Japan are usually fiscally conservative, whereas under Son, SoftBank appears to […]
Read moreCurrency, United States Finance
Russian oil major Rosneft seals biggest foreign purchase ever in India with 49% stake in Essar Oil
Russia’s largest oil producer Rosneft said on Monday it had successfully closed a deal to buy a 49 percent stake in Indian private refiner Essar Oil Limited (EOL). An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 percent share of EOL. “Together with our partners […]
Read moreThe financial crisis was not just a wake up call for the world’s biggest banks – for some, it was a sign of opportunity. For Anne Boden, the CEO of British mobile-only challenger bank Starling, it was a time to totally rethink the financial services. Speaking with CNBC at her London office, Boden looked back […]
Read moreChina now has a list of what it considers the “right” kind of outbound investment as the government continues its crackdown on foreign spending. The new rules prohibit investments in core military technology and anything that endangers national security, along with the gambling and sex industries, according to a government statement released Friday. Outbound deals […]
Read moreFewer U.S. soldiers will be participating in joint military drills with South Korean forces this year — a move Washington said isn’t designed to pacify Pyongyang, but many analysts are skeptical. Around 17,500 U.S. service members will be participating in the 10-day joint exercise, which began Monday, the U.S. Department of Defense said in a […]
Read morePolitics and markets no longer intersect, but essentially are occupying the same terrain. After months of not paying attention to the tumult in Washington, Wall Street is now taking notice, and that sets up an interesting week ahead for investors in a month that is often a dull slog lower. Friday’s surprise exit of Steve […]
Read moreAmerica’s annual joint military exercises with South Korea always frustrate North Korea. The war games set to begin Monday may hold more potential to provoke than ever, given President Donald Trump’s “fire and fury” threats and Pyongyang’s as-yet-unpursued plan to launch missiles close to Guam. Will the allies keep it low-key, or focus on projecting […]
Read moreThe founder of an online Chinese luxury retailer has been arrested after being charged with smuggling 438 million yuan ($65.67 million) worth of goods into the country, the official China Daily reported on Monday, citing the customs authority. Ji Wenhong, the founder of Xiu.com, an online e-commerce website that specializes in imported luxury goods, was […]
Read moreSearch and rescue efforts were underway Monday morning after the USS John S. McCain collided with a merchant ship, the U.S. 7th Fleet said in a notice. The ship, a guided-missile destroyer, was involved in the collision while on its way to Singapore for a routine port visit, the notice said. The incident happened east […]
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