Brazil’s central banker denies a currency war September 28, 2010 BRAZIL’S central bank president Henrique Meirelles yesterday warned that there is a serious problem of competitive currency devaluation among central banks but refused to join the Brazilian finance minister Guido Mantega in saying that an international currency war had broken out. Speaking to journalists at the Brazilian ambassador’s Mayfair residence, Meirelles said countries should not [...]
ECB should stay silent about monetary policy October 17, 2010 JEAN Claude Trichet and his colleagues at the ECB are playing a dangerous game. Despite the Eurozone’s recovery still looking fragile, the central bank’s key playmakers seem determined to talk about pushing policy back onto a more “normal” footing. Just last week, the Bundesbank’s Axel Weber, in a speech given in New York, indicated his [...]
World Bank calls for calm on currencies October 4, 2010 World Bank President Robert Zoellick yesterday called for policy actions to quell growing tensions over currencies and to shore up confidence in the sputtering global economic recovery. Zoellick said slow growth in advanced economies and the threat of asset bubbles in booming emerging market countries present growing risks that global finance officials, who gather in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 28, 2010 FINANCIAL TIMES TOKYO HIT BY CLAIMS OF INSIDER TRADING Japan’s financial regulator and the Tokyo Stock Exchange are investigating recent trading activity following allegations of widespread insider trading ahead of new share issues by Japanese companies. Regulators are examining possible insider trading involving recent share issues where short selling activity increased substantially in the run-up [...]
We’ve had the cuts – now it’s time for growth October 24, 2010 So we’ve had the cuts, now it’s time for the growth. That’s the message at today’s annual CBI conference and it’s the right one. George Osborne may have hinted at some pact with the Bank of England whereby more QE offsets the government’s austerity drive, but what we really need is a supply side transformation. [...]
Looming currency war threatens world trade October 12, 2010 AFTER the crash in 1929, nations retreated inside protectionist walls. In 2009, they managed to refrain from the same action – but they may yet succumb to another ’30s blight on world trade: currency wars. A currency war consists of states pursuing competitive devaluations in an attempt to increase the attractiveness of one’s exports. But [...]
The man who is set to bring more luxury to London’s five-star hotels November 14, 2010 LONDON’S five-star hotel market is set to take off over the next six months and a septuagenarian Maltese businessman called Alfred Pisani will be at the heart of the glamorous action. His £300m luxury Corinthia Hotel London, on Whitehall Place, is being completed and will take its first paying guests in April 2011. It is [...]
Samsung sees profits up and demand hike April 6, 2010 ELECTRONICS giant Samsung is predicting a surge in flat screen television sales as consumers recover their appetite for spending this year. The world’s largest semiconducter and flat-screen TV maker, which has forecast a record first-quarter profit of 4.3 trillion won (£2.52bn) and sales of 34 trillion won, predicts it will improve its figures in the [...]
Japan explains yen selling strategy September 17, 2010 Japan will try to dispel international criticism of its yen-selling intervention by highlighting the damaging impact of the currency’s climb on an economy mired in deflation, the finance minister said. Japan’s solo foray into currency markets, its first in six years, sparked fears other nations might follow suit to prop up sagging exports and that [...]
Japan explains yen selling strategy September 17, 2010 Japan will try to dispel international criticism of its yen-selling intervention by highlighting the damaging impact of the currency’s climb on an economy mired in deflation, the finance minister said. Japan’s solo foray into currency markets, its first in six years, sparked fears other nations might follow suit to prop up sagging exports and that [...]