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 […]
Financial & Economic News
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 […]
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 […]
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 […]
US banks could benefit from Brexit, execs say
Banking business from London could shift to the US, rather than another European country, as part of the fallout from the UK’s vote to leave the EU, says John Nelson, chairman of Lloyd’s of London. […]
China restricts multiple stock accounts
To combat illegal activity, a Chinese securities regulator has restricted investors to three stock accounts in the A-share market. The regulations are now in effect, and the China Securities Depository and Clearing Corp. says investors […]
China’s relaxed fund rule expected to draw firms
Financial firms are expected to take advantage of a rule that lets foreign companies run wholly owned asset managers in China, rather than hold a minority stake in a joint venture. Companies that have established […]
BoE official: Lower pound softens Brexit’s effect
The rapid fall in the value of the British pound has acted as an “important shock absorber” for the economy after the UK’s vote to withdraw from the EU, said Ben Broadbent, the deputy governor […]