Analysis: Sterling returns to the 1980s, and it may get cheaper still
Sterling’s slide against the dollar to a rate last seen in 1985 has sparked talk of a dramatic spiral downwards that ends in a collapse in confidence in British assets and a balance of payments crisis.
FOREX Euro holds above 2-decade low before ECB decision
The euro was hovering above Tuesday’s two-decade low on Thursday as investors awaited a policy decision from the European Central Bank (ECB) and comments from the head of the Federal Reserve for insight on the path for global monetary tightening.
Morning Bid: The 75bp club
Most of world’s major central banks are now going up a gear with historically sweeping interest rate rises to cool their economies and drag down inflation – and there are some signs it’s already working.
U.S. SEC warns against switching auditors to avoid Chinese company trading bans
U.S. accounting firms that agree to lead audits of New York-listed Chinese and Hong Kong companies looking to avoid potential trading bans risk breaching U.S. rules, the U.S. Securities and Exchange Commission (SEC) warned on Tuesday.
Ubisoft shares tumble as Tencent deal seen dampening buyout prospects
Shares in Ubisoft Entertainment (UBIP.PA) tumbled on Wednesday after it announced a deal that sees China’s Tencent Holdings (0700.HK) raise its stake in the company, a move which analysts say dampens the prospect of a full sale of the French game maker.
Top European bankers warn on recession, China and U.S. banks
Deutsche Bank (DBKGn.DE) chief Christian Sewing, painting a bleaker assessment of the German economy, warned on Wednesday that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors.
Analysis: Europe’s banks dim lights as they brace for winter blackout
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system underpinning the region’s economy.
Stocks fall on rate hike bets, yen drops to 24-year low
European stock markets opened in the red on Wednesday after U.S. economic data prompted traders to ramp up Federal Reserve rate hikes bets, pushing the dollar to a 24-year high against the Japanese yen.
Putin says wants to restrict destinations for Ukraine’s grain exports
Russian President Vladimir Putin on Wednesday warned of a looming global food crisis and said he would discuss amending a landmark grain deal with Ukraine to limit the countries that can receive cargo shipments.
Japan’s services sector shrinks for first time in five months in August – PMI
Japan’s services sector activity shrank for the first time in five months in August as a resurgence of COVID-19 infections hurt demand, a business survey showed.
