Lehman and MF Global taught the need to prepare for the next financial collapse
The principal lesson of the Lehman Brothers bankruptcy 10 years ago is simple: There will be another failure of a large financial firm. We don’t know what might be the exact cause, though we do know it won’t resemble Lehman....
Banks diverge on dynamic discounting
The growth in the use of dynamic discounting is highlighted in the most recent AP & Working Capital Report published by PayStream Advisors, which found that the proportion of companies using it to capture rebates and discounts increased by 50%...
FX: What’s in store for the Turkish lira?
By Anna Fedorova The escalating row over Turkey’s detention of American pastor Andrew Brunson appeared to be the last straw, sending the lira into freefall in August. Brunson was arrested in October 2016 and accused of colluding with an organization...
Gold Gains Ground Despite Strong Preliminary GDP
Gold has posted slight gains in the Wednesday session. In the North American trade, the spot price for one ounce of gold is $1204.39, up 0.26% on the day. On the release front, Preliminary GDP jumped 4.2%, beating the estimate...
US: Strength in Q2 GDP Shows Up in Corporate Profits
The second estimate of Q2 GDP revised growth up to 4.2 percent. Corporate profits reached a historic high in the second quarter, supported by strength in real final sales and consumer spending. Revisions to Trade and Software Spending Bump Up...
Jefferies says buy PayPal shares due its market leadership in online payments
PayPal shares will rise due to the strength of its core payment platform, according to Jefferies. The firm reiterates its buy rating for PayPal shares, predicting it will grow faster than the e-commerce industry. “PayPal core business trends are showing...
Pending home sales fall for seventh straight month in July
It may be hot in the nation’s neighborhoods now, but the nation’s housing market is cooling off. Signed contracts to buy existing homes fell 0.7 percent in July compared with June, according to the National Association of Realtors’ pending home...
US: Revisions Nudge Growth Up to 4.2% in the Second Quarter
The U.S. economy grew at a 4.2% annualized pace in the second quarter according to the BEA’s second estimate. This is a tick better than the advanced estimate (4.1%), and also higher than market expectations of 4.0% growth. The upward...
DAX Edges Higher, Investors Eye German CPI
The DAX index has posted slight gains in the Wednesday session. Currently, the index is at 12,539, up 0.10% on the day. In economic news, German GfK Consumer Climate edged lower to 10.5, shy of the estimate of 10.6 points....
Euro Tumbles as Turkish Crisis Re-emerges, Lira Down 3%
Euro suffers broad based selling today, except versus Australian Dollar, as Turkish Lira crisis re-emerges. Notable rally is seen in USD/TRY which is up around 3% at the time of writing. On the other hand, Sterling, Swiss Franc and Dollar...