The Swiss-based Bank for International Settlements – often described as “the bank for central banks” – likes order, technocracy and not rocking the boat. Given Bitcoin’s tumbling price and evaporating trading volumes, its 24-page report on the digital currency was always going to be withering. But amid all the righteous indignation, there was something missing: What exactly does BIS suggest ...

Last month, a group of 10 families filed an action against the European Union (EU) at the European General Court, the EU’s second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) emissions from the EU have violated their fundamental rights to health, occupation, property and equal treatment. The plaintiffs want ...

Bloomberg Investors dumped riskier assets as a trade dispute between the world’s two largest economies showed signs of deepening and accelerating. Stocks dropped, Treasuries rallied and the dollar climbed with the yen. The S&P 500 sank the most in three weeks with industrial companies getting hit hardest after President Donald Trump threatened tariffs on another $200 billion of Chinese goods, ...

Bloomberg A rout in commodities deepened as the threat of a trade war between the world’s two biggest economies intensified, hitting markets from steelmakers to soybeans. As the tit-for-tat trade dispute between the US and China stepped up, a Bloomberg gauge of commodities fell to the lowest since early April, with agriculture being the worst hit. Almost all raw materials ...

Bloomberg Harsher Federal Reserve stress tests this year won’t stop US banks from increasing their payouts to shareholders. As the annual review gets underway this week, the 25 largest lenders are gearing up to announce dividends and buybacks totaling roughly $30 billion more than last year, representing a 25 percent increase, according to analysts’ estimates compiled by Bloomberg. JPMorgan Chase ...

Bloomberg Economists are increasingly questioning whether the Bank of England will raise interest rates in the coming months. Less than 55 percent of analysts surveyed by Bloomberg expect a hike in August, down from 60 percent in a similar poll in May. BOE officials are gathering this week for their June policy meeting, the minutes of which have the potential ...

Bloomberg Chanda Kochhar, chief executive officer of ICICI Bank Ltd. will be going on leave as a panel appointed by the lender probes allegations against her. The bank’s board, which met in Mumbai, has decided to accept her request for going on leave, according to exchange filings. Sandeep Bakhshi, CEO of ICICI Prudential Life Insurance Co., will be chief operating ...

Bloomberg The People’s Bank of China is using both money and words to try to ease market concerns about escalating trade tensions and the weakening economy. The central bank injected another 200 billion yuan ($31 billion) into the economy via its medium-term lending facility on Tuesday. Combined with the funds it added earlier this month, that’s a net injection of ...

Bloomberg Mario Draghi promised that the European Central Bank will take its time to lift interest rates, reinforcing last week’s agreement by policy makers to keep borrowing costs unchanged at least through the summer of 2019. “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter,” the ...

Bloomberg If anyone’s looking for further evidence of a strong economy, here’s a sign: Wealthy individuals and companies are starting to snap up used private jets before they get too expensive. Take Steven Myers. A private equity financier and a licensed pilot, Meyers had been patiently looking to buy a jet for years. But when he began noticing a drop ...