The markets think that the G20 is a talking shop November 9, 2010 YOU HAVE to feel slightly sorry for modern diplomats. Whereas in 1944, Stalin and Churchill could carve up Europe on the back of an envelope, now, the leaders of the world’s twenty largest economies cannot even decide on the simple matter of financial reform. The G20 meeting, due to begin on Thursday, is looking like [...]
Icap revenue up on e-trade November 17, 2010 ICAP, the interdealer broker, said yesterday revenue increased nine per cent to £867m in the first half of the year on the back of its electronic and post trade units. The broker said pre-tax profit also rose by two per cent to £183m and it raised its interim dividend by three per cent to 5.27p. [...]
Icap revenue up on e-trade November 17, 2010 ICAP, the interdealer broker, said yesterday revenue increased nine per cent to £867m in the first half of the year on the back of its electronic and post trade units. The broker said pre-tax profit also rose by two per cent to £183m and it raised its interim dividend by three per cent to 5.27p. [...]
Thailand and China try to stem inflows October 11, 2010 ASIAN authorities anxious about currency appreciation moved to stem foreign capital inflows yesterday while a European official stepped up rhetoric about a strong euro after IMF meetings failed to defuse tensions about exchange rates. China temporarily raised reserve requirements for six large commercial banks, a surprise move aimed at draining cash from the economy. Thailand, [...]
World Bank attacks US currency policy October 19, 2010 Surging capital inflows threaten Asia’s economic stability, the World Bank has warned, a day after US treasury secretary Timothy Geithner sought to draw the venom from a global row over currencies by vowing not to devalue the dollar. The World Bank buttressed the argument made by China and others that US policies are sending a [...]
World Bank attacks US currency policy October 19, 2010 Surging capital inflows threaten Asia’s economic stability, the World Bank has warned, a day after US treasury secretary Timothy Geithner sought to draw the venom from a global row over currencies by vowing not to devalue the dollar. The World Bank buttressed the argument made by China and others that US policies are sending a [...]
Stupid policies have destroyed Eire November 8, 2010 IT is starting to look truly grim for Ireland, which is moving ever closer to the abyss. An article yesterday by Morgan Kelly, a professor of economics at University College, Dublin, added fuel to the fire. By next year Ireland will have run out of cash, Kelly claimed, and the terms of a formal bailout [...]
Stupid policies have destroyed Eire November 8, 2010 IT is starting to look truly grim for Ireland, which is moving ever closer to the abyss. An article yesterday by Morgan Kelly, a professor of economics at University College, Dublin, added fuel to the fire. By next year Ireland will have run out of cash, Kelly claimed, and the terms of a formal bailout [...]
A welcome ceasefire – but not peace October 24, 2010 THERE will undoubtedly be some exuberance in the markets this morning on the back of this weekend’s G20 quasi-deal on currencies. Given that the possibility of currency wars has become an even greater risk to the world than the possibility of a sovereign default, a collective sigh of relief would be perfectly understandable. It would [...]
Gain exposure to the yuan and the rupee June 16, 2010 THE high-profile battle between Washington and Beijing over China’s stubborn policy of pegging its currency to the US dollar has piqued retail traders’ interest in Asian currencies, and the Chinese yuan in particular. While investors have been able to trade currencies such as the yuan and the Indian rupee through offshore non-deliverable forward (NDF) contracts, [...]