Greta Thunberg probably isn’t a fan of Ryanair Holdings Plc. The 16-year-old Swedish activist took the train to the World Economic Forum in Davos in January to castigate the rich and powerful adults there for failing to tackle the unfolding climate emergency (most of them had arrived by plane). Three months later Ryanair was revealed to be one of Europe’s ...
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Who is winning the US-China trade war?
With some corners of the market betting the Federal Reserve will cut rates three times this year, you might expect cheers from emerging markets. Not so in Indonesia. Lats week, the central bank was busy defending its currency, placing bids to prop up its government bonds to halt the rupiah’s slide. As the trade war escalates, Jakarta became the first ...
Read More »The next banking scandals are going to be personal
Since the financial crisis, banking scandals have been expensive; now the attention may turn increasingly personal. After more than $372 billion of fines, significant progress has been made in getting the industry to root out wrongdoing. Just recently, the European Commission fined five companies a total of 1.1 billion euros ($1.2 billion) for colluding in the foreign-exchange market. Financial firms, ...
Read More »Tame inflation makes $131bn bond-auction deluge palatable
Bloomberg A $131 billion deluge of Treasury notes is about to hit with yields at their lowest in more than a year. But bond traders can take heart: This week is also expected to bring confirmation that inflation remains tame, which could bolster demand. The trade impasse enveloping the US and China has put global economic growth in question and ...
Read More »US technology hedge fund beats Nasdaq
Bloomberg Lucrative opportunities in technology stocks centre around identifying shifts from an old way of doing things to a better way, like from email to instant messaging or from phoning in food orders to doing it online. Investing with that in mind for nearly a decade has helped Silicon Valley-based Light Street Capital beat the Nasdaq, according to Barron’s in ...
Read More »Canadian banks struggle to see growth in domestic operations
Bloomberg Canadian banking is no longer the engine driving profit growth at the country’s large lenders. With Canadian financial giants including Royal Bank of Canada and Toronto-Dominion Bank having announced results this week, and rivals to follow, it’s becoming clear that businesses such as wealth management and US operations are doing more to increase earnings than their mainstay of domestic ...
Read More »HSBC hit as Brexit Britain’s consumer casualty list grows
Bloomberg The past months have been brutal for the UK’s retail and consumer industries, and one bank that’s felt its fair share of the pain is HSBC Holdings Plc, which has found itself on the wrong side of several of the highest-profile failures. Last week, TV celebrity chef Jamie Oliver’s casual-dining chain was placed into protection from creditors. That left ...
Read More »ECB contenders for Draghi’s job brace for initial EU skirmish
Bloomberg European Union leaders are about to begin their tussle over who should run the region’s monetary policy in the era after Mario Draghi. Heads of government will sit down for dinner in Brussels, in the aftermath of EU parliamentary elections, to kick off talks on the next suite of top political appointments. Among them is arguably the bloc’s most-powerful ...
Read More »Fed staff lose faith on hitting 2% inflation goal
Bloomberg The Federal Reserve’s influential staff seems to have lost confidence that its bosses will achieve the central bank’s 2 percent target, if the minutes of the Fed’s meeting are anything to go by. The staff forecast presented to policy makers saw inflation falling shy of 2 percent“over the medium term’’ even as the job market was projected to tighten ...
Read More »Mexico central bank top official leaves for BIS
Bloomberg Banco de Mexico’s top markets official is leaving for the Bank for International Settlements after more than two decades at the central bank, according to people familiar with the plans. Jaime Cortina, director general of operations and payment systems, plans to leave in the coming weeks, according to five people who asked not to be named because the decision ...
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