Oil surges to 15-month high
Stocks continue to rise as US crude storage levels drop and the price of oil increases to its highest point since July 2015. “Maybe the market is just not as bad as we thought it […]
2016
Saudi Arabia has raised $17.5B in the largest ever bond sale
Saudi Arabia has raised $17.5B in the largest ever bond sale by an emerging-market country as it looks to reduce its $97B budget deficit. The government could have raised even more, with Bloomberg reporting that […]
Morgan Stanley reports 57% increase in Q3 profit
Morgan Stanley beat the estimates with a 57% increase in third-quarter profit as fixed-income trading revenue surged. The bank’s net income rose to $1.6 billion, or 81 cents per share, from $1.02 billion, or 48 […]
Consumers increasingly use credit cards for in-person payment
Credit cards are the only form of in-person payments that US and Canadian consumers are using more frequently, an Accenture survey finds. The percentage of consumers paying by credit card on a weekly basis has […]
Regulators propose bank cybersecurity standards
Banking regulators have proposed cybersecurity rules that would require institutions considered systemically risky to prove they can run major operations within two hours of an attack or a large systems failure. Other requirements include a […]
Pinterest launches the Pin Collective
Pinterest has unveiled an initiative called Pin Collective that teams marketers with influencers and content creators. Four production shops are involved in the program — The Mill, Moment Studio, McBeard and loop88 — along with […]
Fed paints mostly optimistic picture of US economy
The Federal Reserve described the US economy’s outlook as “mostly positive” in its Beige Book, an anecdotal roundup of reports from its 12 districts. The economy is growing steadily and the labor market is tightening, […]
PBOC’s assets fall while other central banks’ rise
The Federal Reserve, the European Central Bank and the Bank of Japan have been in a stage of record bond buying and hold $12.7 trillion in sovereign debt, loans and other assets. Meanwhile, assets of […]