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Barring a collapse in the last few weeks of the year, US stocks will post their ninth consecutive calendar-year gain once you include dividends. The only other time the S&P 500 has advanced for nine straight years on the basis of total returns was in the 1990s, when stocks were positive every year from 1991 to 1999. The S&P 500 ...
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December, 2017
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12 December
US stocks rise, dollar higher before Fed meeting
Bloomberg US stocks gained, the dollar advanced and Treasuries slipped after data showed signs of inflation in producer prices as the Federal Reserve starts its two-day meeting. The S&P 500 Index edged higher after closing at a record, and the other major US equity gauges were up. Telephone shares led gainers, and semiconductor stocks led decliners. European equities pushed to ...
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12 December
Oil prices help Gulf rise, Saudi petchems strong
Reuters Middle East stock markets mostly rose on Tuesday after the shutdown of a North Sea pipeline pushed Brent oil above $65 a barrel for the first time since mid-2015. The Saudi stock index gained 0.3 percent, with petrochemical companies, whose profit margins tend to benefit from higher oil prices, outperforming. Saudi Kayan added 3.7 percent and PetroRabigh rose 3.0 ...
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12 December
Investors told to brace for steepest rate hikes since ’06
Bloomberg Wall Street economists are telling investors to brace for the biggest tightening of monetary policy in more than a decade. With the world economy heading into its strongest period since 2011, Citigroup Inc. and JPMorgan Chase & Co. predict average interest rates across advanced economies will climb to at least 1 percent next year in what would be the ...
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12 December
RBS may leave bonus pool flat for first time since financial crisis
Bloomberg Royal Bank of Scotland Group Plc is likely to leave its bonus pool little changed this year, according to people with knowledge of the matter, ending a spate of annual declines in payouts dating back to the financial crisis. A final decision on the discretionary awards hasn’t been made and will be taken in January, one of the people ...
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12 December
Bahrain Ithmaar Bank named country’s ‘best Islamic retail bank’
MANAMA / Emirates Business Ithmaar Bank, a Bahrain-based Islamic retail bank, was honoured at a ceremony attended by senior bankers from across the Middle East after it was named Best Islamic Retail Bank in Bahrain. Ithmaar Bank was presented the prestigious award following a comprehensive selection and review process conducted by a committee of high-level economists and banking professionals, as ...
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12 December
Wealth fund chief Orr named New Zealand central bank governor
Bloomberg Adrian Orr will oversee the biggest overhaul of New Zealand’s central bank since it pioneered inflation targeting in the early 1990s. Orr, 54, will begin a five-year term as governor of the Reserve Bank on March 27, Finance Minister Grant Robertson said in Wellington. A former deputy governor and chief economist at the RBNZ, Orr currently heads the New ...
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12 December
Next BOJ governor faces ‘job from hell,’ says Kuroda critic
Bloomberg The next governor of the Bank of Japan faces a “job from hell.†That’s according to Takeshi Fujimaki, a banker-turned-lawmaker who sees any attempt by Japan’s central bank to exit its prog- ram of unprecedented easing as triggering a Greek-like debt crisis. “This is the calm before the battle,†Fujimaki, an opposition Japan Innovation Party politician who once served ...
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12 December
Ryanair’s Dublin pilots throw weight behind strike effort
Bloomberg Ryanair Holdings Plc pilots in the airline’s home base of Dublin defied a management threat and voted in favour of labour action, throwing their weight behind a European organising campaign seeking better working conditions. Of the cockpit staff who voted, 95 percent said they’d rather strike than accept management proposals to improve employment terms, people familiar with the matter ...
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12 December
Zara owner seeks $472mn for 16 stores
Bloomberg Inditex SA, the world’s biggest clothing retailer, is seeking a buyer for 16 Zara stores in Iberia as online purchasing takes off in Spain. Inditex, owned and founded by Amancio Ortega, the world’s fourth-richest man, is seeking $472 million for the stores in a 20-year sale-and-leaseback agreement that would give the buyer the right to vacate the properties after ...
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