Fed documents reveal internal unease over quantitative easing January 16, 2016 When the Federal Reserve launched the expansion of its quantitative easing programme in 2010, it was despite several policymakers’ misgivings over what impact this would have on the dollar. Documents freshly released from the Fed’s 2010 meeting reveal internal fears that the programme would be bashed internationally as an attempt to send the dollar lower, [...]
US dollar up against Argentine peso after Argentina’s new president Mauricio Macri lifts currency controls December 17, 2015 The US dollar has rocketed up over 40 per cent against the Argentine peso today, after the South American country revealed yesterday that it would be lifting currency controls. The peso was trading at 13.9 per dollar shortly after the market opened, compared to the official rate of 9.8 per dollar it was trading at yesterday, before [...]
Bid talk for Vodafone and forex bank fines prompt a FTSE rally – London Report May 20, 2015 SPECULATION of a takeover bid for telecommunications giant Vodafone sent its share up yesterday – and the FTSE 100 along with it. Britain’s top share index climbed back towards earlier record highs also buoyed by gains in major bank stocks. The blue-chip FTSE 100 index ended up 0.2 per cent at 7,007.26 points, close to [...]
Breaking old habits could save you thousands on international transfers November 26, 2015 Our financial affairs are exposed to many variables. Recent stock market movements have certainly served as a good reminder of this fact. Today, as increasing numbers of us conduct both personal and business transactions abroad, foreign exchange markets provide an added element of financial uncertainty. But while the currency market can be volatile, there are [...]
Moody’s: How the oil price rout will affect Saudi Arabia’s economy February 15, 2016 Saudi Arabia will be faced with tough choices when it comes to spending cuts if oil prices fail to recover in the medium-term. Oil prices have fallen around 75 per cent from a high of over $100 per barrel in June 2014. This has heaped pressure on the balance sheets of oil producing nations, such [...]
UK business is booming overseas but two thirds of companies are “sitting ducks” to exchange rate volatility December 9, 2015 A third of British businesses are “dangerously exposed” to foreign exchange volatility as more companies turn to overseas trade. Two thirds of medium and large firms are doing more international trade than in 2014, yet 32 per cent don’t take measures to protect themselves from swings in exchange rates and hedge risks, according to research from Fexco Commercial [...]
Banks are employing staff to listen in on traders’ conversations, after jargon and banter outsmarts surveillance technology February 14, 2016 Banks are now hiring staff to listen in on traders' conversations, after banter was found to flummox sophisticated surveillance technology, according to a new report on market abuse. The report from professional services firm PwC discovered that banks plan to spend £156m on surveillance technology over the next 18 months to make sure that trading [...]
Nike share price climbs as strong China sales offset drag from strong dollar December 22, 2015 Bumper sales in China are boosting revenues at sportswear giant Nike. Global sales reached $7.7bn (£5.2bn) in the three months ending 30 November, a rise of four per cent compared with the same period last year, the company said today. Footwear sales in China were up 30 per cent to $600m, lifting total revenues from the country [...]
Revealed: How West Ham owners are free to cash in on Olympic Stadium deal July 31, 2016 West Ham United’s complex deal for the Olympic Stadium, the full details of which are laid bare for the first time today, could make the football club’s wealthy owners even richer than previously thought – at the expense of the taxpayer. As the Hammers prepare to play their first match at the largely public-funded £700m [...]
The UK’s giant current account deficit unlikely to create extra risk in the run up to EU referendum, says Bank of England’s Kristin Forbes. March 21, 2016 A top Bank of England official has said the UK's large current account deficit helps to share risk, as well as create it, in the face of domestic uncertainty. The current account deficit hit 5.1 per cent of GDP in 2014, the largest in 60 years of comparable records. It is the amount the UK [...]