When conduct goes wrong, who do you blame?
Where does the buck stop? The tribulations surrounding two bank chief executives – one just departed, the other still in post – bring this perennial question to the fore again. On the face of it, there is clear blue water...
Noel Quinn reveals HSBC considered exit from US retail banking
The most surprising moment in HSBC’s announcement today of what interim chief executive Noel Quinn describes as “one of the deepest restructuring and simplification programmes in our history” came at the very start. It is usual for any bank’s annual results...
Stocks making the biggest moves midday: Apple, Legg Mason, Virgin Galactic, Tesla and more
Sir Richard Branson stands on the floor of the New York Stock Exchange (NYSE) ahead of Virgin Galactic (SPCE) trading in New York, U.S., October 28, 2019. Richard Branson Virgin Galactic IPO NYSE Check out the companies making headlines in...
Federal Reserve’s Robert Kaplan sees no changes in interest rates this year
Gerard Miller | CNBC Though he expects the U.S. to experience “solid” growth this year, Dallas Federal Reserve President Robert Kaplan said interest rates should remain where they are. The central banker, in an essay released Tuesday morning, backed the...
US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says
A drilling crew member on an oil rig in the Permian Basin near Wink, Texas. Nick Oxford | Reuters The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut...
Canadian Inflation to Test Loonie’s Rebound
Canada will publish its first inflation figures for the new year on Wednesday at 13:30 GMT before releasing retail sales data for the month of December on Friday at the same time. Given its direct impact on monetary policy and...
XAU/USD Outlook: Gold Advances to Two-Week High on Fresh Risk Aversion
Spot gold advanced to the highest level in two weeks in early US session trading on Tuesday, driven by fresh safe-haven demand on renewed weakness in the stock markets and rising concerns about coronavirus epidemic negative impact on global growth....
Canadian Manufacturing Sales Ended 2019 on Soft Note
Manufacturing sales down 0.7% in December, -0.4% excluding price impacts November rail strike impact eased, but motor vehicle and aerospace sales fell Canadian manufacturing sales continue to be buffeted by a number of ‘transitory’ factors, but underlying trends have also...
Euro Tumbles Again as Economic Sentiments Deteriorates Sharply, Markets Stays Risk-Off
Markets remain in risk-off mode today after Apple’s warning that China’s Wuhan coronavirus outbreak would hurt sales. Deep deterioration in German economic sentiment also reflect the impact on confidence. Investors will likely remain fragile until there is sign of full...
GBP/CAD 4H Chart: Sets For Breakout
The British Pound has been depreciating against the Canadian Dollar since the beginning of February after the currency pair reversed from the upper boundary of a triangle pattern at 1.7454 on February 3. The exchange rate is currently trading near...