Smashing through the floor: traders test the Swissie peg January 31, 2012 IN SEPTEMBER last year, the Swiss National Bank (SNB) intervened in the euro-Swiss franc in an attempt to cool the overheating of the franc. At the time of the move to put a floor under the euro-Swiss franc exchange rate at SFr1.2000, the then-SNB chairman Philipp Hildebrand announced that the central bank was prepared to [...]
Yet another fine mess in the search for a European solution January 24, 2012 EURO-DOLLAR had another up and down ride yesterday. The release of better than expected Eurozone PMI composite figures gave the pairing an initial jump, but this brief optimisim that pushed euro-dollar up to $1.3062 quickly subsided when markets were reminded that the Eurozone is fundamentally more than a little shaky. Finance ministers rejecting a 4 [...]
Yet another fine mess in the search for a European solution January 24, 2012 EURO-DOLLAR had another up and down ride yesterday. The release of better than expected Eurozone PMI composite figures gave the pairing an initial jump, but this brief optimisim that pushed euro-dollar up to $1.3062 quickly subsided when markets were reminded that the Eurozone is fundamentally more than a little shaky. Finance ministers rejecting a 4 [...]
Banks welcome China-UK talks on forex trade January 15, 2012 TWO OF Britain’s biggest banks have welcomed government efforts to establish the City as the world’s biggest centre for trading China’s currency outside Hong Kong. Standard Chartered chief executive Peter Sands and his counterpart at HSBC, Stuart Gulliver, have both committed to send senior representatives to bi-annual lobbying meetings with the Bank of China, Barclays [...]
Banks welcome China-UK talks on forex trade January 15, 2012 TWO OF Britain’s biggest banks have welcomed government efforts to establish the City as the world’s biggest centre for trading China’s currency outside Hong Kong. Standard Chartered chief executive Peter Sands and his counterpart at HSBC, Stuart Gulliver, have both committed to send senior representatives to bi-annual lobbying meetings with the Bank of China, Barclays [...]
Coca-Cola shares up after better than expected profit July 19, 2011 Coca-Cola has posted slightly better-than-expected earnings on strength in emerging markets despite a slowdown in sales in north America. The world’s largest soft-drink maker, with brands including Sprite, vitaminwater and Powerade, does the majority of its business outside the US – an asset that has kept it in favor with investors despite home market struggles, [...]
Hester’s focus must be banking, not bonuses January 30, 2012 AS THE debate over Stephen Hester’s RBS bonus continues, it is easy to forget the increasingly powerless chief executive has a business to run. One of the most crucial items on the agenda is the restructuring of the investment bank, which chancellor George Osborne effectively called for in December when he said there would be [...]
US markets begin the year on a high January 3, 2012 STOCKS and the euro started the year with a sharp rally yesterday, boosted by better-than-expected global data and hopes the Fed could ease monetary policy further, even as crude surged on tensions between the US and Iran. A number of Federal Reserve officials believed economic conditions could “well” warrant a further easing of monetary policy, [...]
History reveals breaking up a currency union isn’t hard to do – but you must be fast December 6, 2011 WHAT happens when a country changes its currency, either by creating a new one to replace the existing one or when it leaves a monetary union? A good starting point is New Zealand’s switch from sterling to the NZ dollar at the end of the 1960s. That was a simple matter of redenomination and printing [...]
Profit strong at Campbell Soup despite sales slump May 23, 2011 CAMPBELL Soup yesterday reported a better-than-expected quarterly profit and forecast full-year results at the high end of its range, after moving its focus from profit-sapping promotions to advertisements. But the world’s top soup maker saw US sales fall for the fourth straight quarter, a sign that it may take some time for operations chief Denise [...]