Posts belonging to Category global finance



Global economic releases today. … Jargon, Comments, About. Search: Current Forex Market SessionClick a city for session articles. London · New York · Sydney · Tokyo. GMT. RSS · Twitter · Facebook · Google · LinkedIn · Financial  … http://www.forexlive.com/ ... Wed., 28 June 2017

Massive cyber attack

Petya cyber attack: Ransomware spreads across Europe with firms in Ukraine, Britain and Spain shut down

Major firms, airports and government departments in Ukraine have been struck by a massive cyber attack which began to spread across Europe on Tuesday afternoon. In Ukraine, government departments, the central bank, a state-run aircraft manufacturer,  the airport in Kiev and  the metro network have all been paralysed by the hack.

In the UK, the advertising firm WPP said its systems had also been struck down, while in the Netherlands a major shipping firm confirmed its computer terminals were malfunctioning. The virus is believed to be ransomware – a piece of malicious software that shuts down a computer system and then demands an extortionate sum of money to fix the problem.

http://www.telegraph.co.uk…   Wed.,  28  June 2017

Japanese airbag maker Takata files for bankruptcy

Takata would be bought for $1.6 billion by U.S.-based Key Safety Systems

Japan’s Takata Corp (7312.T), the firm at the centre of the auto industry’s biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems.

In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits.

http://www.reuters.com…   Mon.,  26  June 2017

Draft bill to replace Obamacare would cut Medicaid

Senate Republicans release healthcare bill that will affect coverage for millions

After weeks of secret negotiations, the US Senate has released its draft of a bill that could upend the healthcare system for millions of Americans.

The Senate’s 142-page proposal, unveiled on Thursday, would eliminate or reduce key benefits provided by Barack Obama’s Affordable Care Act; lower taxes for the wealthy; strip funding from the women’s reproductive health provider Planned Parenthood; and dramatically cut and restructure Medicaid, America’s public health insurance program for low-income and disabled Americans.

The legislation mirrors the bill that the House of Representatives passed narrowly last month, with modest changes intended to win support from moderate senators. Meanwhile, Republican Senate leaders emphasized that the legislation is subject to change as they negotiate details in an effort to win 50 votes, the minimum required for the bill to pass.

http://www.theguardian.com…   Fri.,  23  June 2017

Oil glut fears

Asian stocks rise, oil languishes near 10-month low

Asian stocks advanced on Thursday, but oil futures hovered near a 10-month low hit overnight on concerns over a supply glut and falling demand. European stocks were mixed with financial spreadbetter CMC Markets expecting Britain’s FTSE 100 .FTSE to open up 0.1 percent, Germany’s DAX .GDAXI to be little changed and France’s CAC 40 .FCHI to start the day down 0.1 percent. All three closed in negative territory on Wednesday. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.7 percent. Japan’s Nikkei .N225 rose almost 0.1 percent. Shares in auto air bag-maker Takata Corp plunged 50 percent as they exchanged hands for the first time since sources said last week it was preparing to file for bankruptcy.

South Korea’s KOSPI .KS11 added 0.3 percent, while Australian shares jumped 1 percent. Taiwan shares .TWII hit a 27-year high. Chinese shares added to gains made on Wednesday after MSCI included mainland shares in its emerging market indexes. The blue-chip index .CSI300 rose 1.3 percent. Hong Kong’s Hang Seng .HSI climbed 0.5 percent. Crude oil was subdued as investors’ doubts that OPEC-led output cuts would dent a three-year glut offset data showing a drop in U.S. inventories.

http://www.reuters.com…   Thu.,  22  June 2017

AIRBUS versus BOEING

Boeing launches new jet

Boeing unveiled a new version of its best-selling 737 aircraft on Monday, injecting life into a faltering civil aviation market as French President Emmanuel Macron flew in to open the world’s biggest airshow in Paris.
After years of booming orders driven by increased air travel and more fuel-efficient planes, passenger jet manufacturers are bracing for a slowdown in demand while they focus on meeting tight delivery schedules and ambitious production targets.

 http://www.reuters.com…   Tue.,  20  June 2017

The globalisation counter-reaction

Globalisation is a highly disruptive force

WHEN the Archduke Franz Ferdinand was assassinated in 1914, there were few initial indications that world war would follow. In retrospect, many people have argued that the killing was a freak event that should not have resulted in the folly of war.

But was the subsequent war really an exogenous event? Or was it the near-inevitable consequence of the tensions resulting from the first great era of globalisation? If Franz Ferdinand had survived, maybe something else would have triggered the conflict. If the latter possibility is right, that may be a warning sign for the current era.

http://www.economist.com…   Thu.,  15  June 2017

“Due To Popular Demand” Goldman Starts Covering Bitcoin

Bitcoin officially made its way to Wall Street

It’s official: not only has bitcoin officially made its way to Wall Street, but confirming rumors that emerged over the weekend, “hedge” funds – starved of volatility in virtually all other asset classes –  are now not only actively trading the volatile digital currency, but as clients of the vampire squid, have petitioned Goldman’s chief technician, Sheba Jafari to start covering it.

In the report that Goldman released this afternoon ago, Jafaru concludes that “the balance of signals are looking broadly heavy” with the following view: “wary of a near-term top ahead of 3,134. Consider re-establishing bullish exposure between 2,330 and no lower than 1,915.

http://www.zerohedge.com…   Wed.,  14  June 2017

“Soft Brexit” looks more likely

Britain’s political outlook seems toxic to investors

The combination of a weak Conservative prime minister and the potential for a Corbyn government does not look attractive. Suddenly Britain looks a lot less attractive as a home for international investors. The Conservative party under Theresa May gambled on a snap election to deliver a “mandate for Brexit”. It unveiled a muddled manifesto that alienated voters and was out-campaigned by the veteran left-winger Jeremy Corbyn. The party lost its overall majority and will now be propped up by the very odd ducks in Ulster’s Democratic Unionist party.

The markets reacted less severely than might have been expected. That seems to be based on the view that a “soft Brexit” looks more likely. But it is far from clear that this is the case. David Davis, Britain’s Brexit minister, seems to be ploughing ahead with plans to leave the single market and the and the Labour leadership is unlikely to oppose this.

http://www.economist.com…   Tue.,  13  June 2017

US debt default would be like Lehman crash

Raising the debt ceiling

A U.S. debt default would create significant confusion and uncertainty in financial markets and could prove as catastrophic as the failure of Lehman Brothers in 2008, the Organization for Economic Cooperation and Development (OECD) said in a new report.

Lawmakers in the U.S. side-stepped a debt default at the 11th eleventh hour in October and brought an end to prolonged negotiations over raising the debt ceiling. But talks are set to resume in the new year with the debt ceiling extended until February 7 and funding approved until January 15.

“An outright default would have extremely severe effects” the OECD said in the report, released on Tuesday.

http://www.cnbc.com…  Mon.,  12  June 2017