China’s growth may slip below 9pc in 2012 September 6, 2011 China’s economic growth in 2012 may drop below nine per cent for the first time in a decade, a senior Chinese foreign exchange official has said, underlining the gloom in Beijing over the deteriorating health of the global economy. But Huang Guobo, chief economist at the State Administration of Foreign Exchange, China’s currency regulator, told [...]
Spencer hits out at Tobin tax plans… September 29, 2011 ICAP chief executive Michael Spencer slammed Eurozone politicians as “deluded” for their “red herring” plans to tax financial transactions yesterday, as he said trading had stayed strong over the past six months. The interdealer broker said its electronic platforms trading foreign exchange and interest rate swaps continued to grow fast while its Singapore team had [...]
China lies at the heart of euro survival September 14, 2011 THE effects of speculation that China would be buying up Italian sovereign debt displayed just how much sway the Chinese government holds over the world currency markets. China has been accumulating foreign currency reserves at a rapid rate – its forex reserves increased by $750bn between June 2010 and June 2011. It is reported that [...]
Carry trading geysers a risk for Iceland August 31, 2011 ON the surface of things, Iceland appears to be on the road to recovery. However, trouble could be bubbling under the country’s crust. On 17 August, it took the decision to raise its main interest rate by a quarter point to 4.5 per cent, the first such move since the country’s banks collapsed in 2008. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 4, 2011 FINANCIAL TIMES BREWER’S FINANCE CHIEF TO RETIRE SABMiller is ushering in a new era after Malcolm Wyman, who has served as chief financial officer for the past decade, announced plans to retire at the annual meeting in July. My Wyman, 64, will be replaced by James Wilson, finance director for European operations. Mr Wilson, 51, [...]
THE SHOW MUST GO ON SAYS FOREX FINANCIER November 1, 2011 DIGITAL downloads decimating album sales, Russian born tycoon Len Blavatnik poised to swoop on the UK’s last major domestic music label – it’s fair to say the music industry has seen better days. Here to help the sector’s financially challenged artistes make the most of their remaining revenue sources – touring, merchandise and ticket sales [...]
THE SHOW MUST GO ON SAYS FOREX FINANCIER November 1, 2011 DIGITAL downloads decimating album sales, Russian born tycoon Len Blavatnik poised to swoop on the UK’s last major domestic music label – it’s fair to say the music industry has seen better days. Here to help the sector’s financially challenged artistes make the most of their remaining revenue sources – touring, merchandise and ticket sales [...]
25 years after the Big Bang we ask: Was it a good idea? October 26, 2011 YES Eamonn Butler SOMETHING had to happen. London had once been the world’s major financial centre, but by the 1980s it had been overtaken by New York and that lead was growing. The City remained an old-fashioned world: to outsiders like me, more like a private gentlemen’s club than a place of business. Its leading [...]
25 years after the Big Bang we ask: Was it a good idea? October 26, 2011 YES Eamonn Butler SOMETHING had to happen. London had once been the world’s major financial centre, but by the 1980s it had been overtaken by New York and that lead was growing. The City remained an old-fashioned world: to outsiders like me, more like a private gentlemen’s club than a place of business. Its leading [...]
Swiss move signals end of the phoney war September 6, 2011 YESTERDAY morning, the Swiss National Bank (SNB) took the bold move to put in place currency controls in the form of a minimum exchange rate between the euro and the Swiss franc at SFr1.20. The SNB said that it will protect the franc “with the utmost determination.” The SNB has also indicated that it is [...]