Should North Korea’s surprise rocket launch raise concerns over security in the region? December 12, 2012 YES Raheem Kassam There is no doubt that North Korea’s test will terrify the people of South Korea as well as other nations in the region. The West will not only be concerned by the threats and strains created by an emboldened North Korea, but also by the reaction of its partners. Over the past [...]
The three geopolitical red herrings that the markets can safely ignore February 14, 2013 EACH year, Eurasia Group releases its top risks report, where we consider the ten biggest geopolitical threats to markets and economies, judged by probability and potential impact. So what’s on our radar for 2013? The top risk is now found in emerging markets, as the world’s focus shifts back to the developing world and away [...]
StanChart to hit record profits despite US woe January 9, 2013 STANDARD Chartered has overcome its regulatory troubles comprehensively and is on track to record a tenth consecutive year of record profits, analysts predicted yesterday. The bank was hit by surprise accusations of breaking US sanctions on Iran last August, paying US authorities more than $600m (£374.5m) to settle the claims. But analysts expect a better [...]
What the other papers say this morning January 1, 2013 FINANCIAL TIMES Pessimism mars growth expectations Britons should brace themselves for another year of weak growth as the prospects of a recovery remain gloomy, according to the Financial Times’ New Year survey of 94 leading economists. A larger number of those surveyed thought George Osborne should rethink his austerity drive. Sun European set to buy [...]
US regulator slaps record fine on HSBC December 10, 2012 HSBC has agreed to pay out a record $1.9bn (£1.2bn) to US authorities over charges related to money laundering, it emerged last night. In a major victory for prosecutors, the British bank will today admit to breaking laws by transferring billions from drug cartels and terrorists through the US financial system. The sum – an [...]
Oil prices ride a wave of recent global optimism February 11, 2013 FOR a long time, oil prices have been dominated by supply shocks, as one major oil producer after another has gone through a period of unrest. But while the Middle Eastern oil producers are still a long way from an oasis of calm, it is now expected demand-side improvements, rather than supply worries, that are [...]
Talks break down on internet treaty after UK refuses to sign December 13, 2012 INTERNATIONAL negotiations over internet regulation collapsed without a conclusion last night, as representatives from the UK and US refused to agree to terms demanded by countries including Russia, China and Iran. Two weeks of talks over a reformed UN communications agreement came to a head as a host of western nations said they would not [...]
Rapid responses January 2, 2013 Groundhog year [Re: 2013 will prove the power of global events to shape our economic lives, yesterday] Mark Malloch Brown’s concerns about the Asia Pacific in 2013 are essential reading. As he correctly points out, problems in the Eurozone and the continuation of political impasse in the US have been priced into the markets. But [...]
What the other papers say this morning January 7, 2013 FINANCIAL TIMES Icelandic raider pleads not guilty Jón Ásgeir Jóhannesson, the Icelandic corporate raider who used to own large parts of the UK high street, has pleaded not guilty as one of the most notorious sagas in the collapse of the Icelandic banking system came to court. Obama announces new security team Barack Obama has [...]
StanChart set for another $330m US fine December 6, 2012 SHARES jumped in British bank Standard Chartered yesterday, as it revealed its final fine for breaking US sanctions against Iran will be smaller than previously feared. It expects to pay $330m (£205.6m) to regulatory authorities including the Federal Reserve, the Department of Justice, the Treasury department and the local district attorney. That takes Standard Chartered’s [...]