Financial & Economic News
FSB lowers HSBC, Barclays risk rating
The Financial Stability Board’s list of global systemically important banks places HSBC Holdings and Barclays in lower risk categories and raises the risk category for Citigroup, Wells Fargo and Bank of America. Citigroup and JPMorgan […]
Brazilian policymakers call for fiscal reform
While speaking at separate events Monday, Brazil’s finance minister and central bank president explained that fiscal reform is necessary to pull it out of its worst recession. With the economy forecast to shrink 3.4% this […]
Japan and Russia will contribute each about half toward a $902 million investment fund
Japan and Russia have agreed to each contribute about half toward a $902 million investment fund. Japan hopes expanded economic cooperation will help with negotiations regarding ownership of islands that are claimed by Russia and […]
Talks aimed at reunifying Cyprus broke up
Talks aimed at reunifying Cyprus broke up after two days of meetings between Greek Cypriot president Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci. “Despite their best efforts,” the two were unable to agree on […]
Russia is deploying short-range ballistic missiles to its western European enclave
Russia is deploying short-range ballistic missiles to its western European enclave of Kaliningrad as Vladimir Putin threatens “counter-measures” against NATO deployments. Meanwhile, reports suggest that members of the European Parliament will vote today on establishing […]
OPEC experts have made progress on confirming details of plans to cut output
OPEC experts have made progress on confirming details of plans to cut output, in the first day of a two-day meeting of the group’s High-Level Committee. While some said Iran still had reservations about the […]
Trump makes TPP pullout top priority
US President-elect Donald Trump has prioritized withdrawal from the Trans-Pacific Partnership during his first 100 days in office. Other objectives include protecting infrastructure against attack, reducing environmental restrictions and investigating abuse of visa programs for […]
China’s yuan reaches lowest value since 2008
The value of China’s yuan dropped to an eight-year low in currency markets after the People’s Bank of China lowered its reference point for the 12th day in a row. The decline in value has […]
Cutting Britain’s current 20% headline rate could attract companies
Prime Minister Theresa May’s aim is “not solely for the U.K. to have the lowest corporate tax rate in the G20 but also a tax system that is profoundly pro-innovation.” Cutting Britain’s current 20% headline […]