After a tight campaign that saw the two leading parties struggle to break out of the pack, the Liberals under Justin Trudeau have held on to just enough seats in Atlantic Canada, Quebec and Ontario to secure a minority government.
- Canada’s Trudeau Clings to Power, but Loses Some of his Lustre – Reuters
- Canadian Dollar Holds Near Three-Month High After Trudeau Election Win – Reuters
China and the United States have achieved some progress in their trade talks, Vice Foreign Minister Le Yucheng said, and any problem could be resolved as long as both sides respected each other.
Prime Minister Boris Johnson will find out Tuesday evening whether he has any chance of getting his Brexit deal through Parliament — and whether he can do it ahead of his Oct. 31 deadline.
The IMF has sharply downgraded its forecast for global economic growth to its lowest level since the great recession of 2008-09 — but fears of another contraction are overblown, most data suggest.
JPMorgan Chase & Co. says the money-market stress that sent short-term borrowing rates surging last month is likely to get much worse despite the Federal Reserve’s attempts to inject billions of dollars into the financial system.
China is seeking $2.4 billion in retaliatory sanctions against the United States for failing to comply with a World Trade Organization ruling in a case that highlights White House complaints about the global trade body.
Christine Lagarde, former head of the International Monetary Fund who takes the helm of the European Central Bank next month, said in an interview that the U.S. risks diminishing its role as a global leader and warned of dire consequences of its trade war with China.
When the global financial crisis struck in 2008, the US and Europe had a ready model for how not to respond: Japan.
South Korea’s export-dependent economy is facing a “grave situation” as the U.S.-China trade war and the spread of trade protectionism heap pressure on the global economy, President Moon Jae-in said in a parliament speech Tuesday.
The International Swaps and Derivatives Association has published a report that summarises responses to a consultation on pre-cessation issues for Libor and certain other interbank offered rates.
The Bank of England should be given more power to steer lending in Britain’s economy and influence government spending during a downturn, a think tank said
Two London investment bankers were charged in the U.S. with selling information about pending deals as part of a “large-scale, international insider-trading ring” that, prosecutors claim, generated tens of millions of dollars in illicit profits.
Bank sources are seeing questions from the European Commission about the ‘cliff effects’ of Basel III operational risk capital requirements as a sign that it favours waiving historical loss-based assessments – potentially putting daylight between it and the European Banking Authority on the issue.
The systemically important OCC is to establish a board-level regulatory committee following CFTC and SEC penalty last month.
As a commercial project, Facebook’s digital currency proposal is flailing, having lost partners and failed to charm regulators. But at the IMF’s annual meeting in Washington last week it was clear that Libra has already notched up one success: it has spooked central bankers.
Volatility could soon be back in vogue for Bitcoin.
Banks might have to cut ties with Facebook if the social media giant launches its Libra digital currency without fully addressing financial regulators’ money laundering fears, the chief executive of ING has warned.
Michael Cahill has joined Jump Trading in a digital asset sales role.
Early cryptocurrency developer and British cryptography expert Adam Back has been speaking at the Transylvania Crypto Conference about Bitcoin sidechains. The basic premise is that this additional functionality could render many of the altcoins simply unnecessary.
The head of Nasdaq-listed market making firm Virtu Financial accused incumbent exchange operators of monopolistic behaviour and says he and other brokers are prepared to build their own exchanges to lower trading costs.
For the market structure industry – the exchanges, clearing houses and data providers that operate the daily trading machinery for the world’s financial markets – the vaulting ambition to unite markets across continents brought to mind another deal from another era: the merger of the New York Stock Exchange and Euronext in 2006.
A third of banks globally are unlikely to survive a serious economic downturn and must radically revamp their business models, management consultancy McKinsey said in a report on the industry.
Argentina’s bondholders are braced for steep losses when the government attempts to tackle its $101bn debt burden after downbeat meetings with IMF officials and associates of Alberto Fernández, the presidential frontrunner, in Washington last week.
UBS reported a drop in third-quarter profits, as income from its investment banking business more than halved even as its wealth management business proved resilient.
If a new recession strikes, the Trump administration will get — and deserve — much of the blame.
Argentina once again finds itself trapped between economic reality and domestic politics: an urgent need to restructure debts amid a likely return to power of the Peronist party.
Hopes the United States and China were making progress to resolve their trade dispute supported the dollar and trade-exposed Asian currencies on Tuesday, while the Canadian dollar rose as the ruling Liberal Party looked to have won a national election.
Swedish central bank policy makers are intent on leaving negative interest rates behind after almost half a decade.
As the European Central Bank limbers up to restart its debt-buying programme, one question looms large for investors: how long can the purchases continue before the bank runs out of bonds to buy?