Citi Loses Second Unfair Dismissal Case – Profit & Loss
Profit & Loss understands that former Citi FX trader Carly McWilliams has won her unfair dismissal claim against the bank.
Yen Tumbles as BOJ Said to Be Looking at Negative Rate on Loans – Bloomberg
The yen dropped the most in seven weeks amid reports the Bank of Japan may consider helping banks lend by offering a negative rate on some loans.
Commodity Rally and Central Bank Dovishness Running Hand in Hand, For Now – Profit & Loss
Dovish global central bank policy, led by the US Federal Reserve, and a rise in the global price of energy, metals and other commodities have been key drivers of the rally in global risk appetite since mid-January.
Barack Obama: As Your Friend, Let Me Say That the EU Makes Britain Even Greater – The Daily Telegraph
In 1939, President Franklin D Roosevelt offered a toast to King George VI in the White House. “I am persuaded that the greatest single contribution our two countries have been enabled to make to civilisation, and to the welfare of peoples throughout the world,” he said, “is the example we have jointly set by our manner of conducting relations between our two nations.”
China Risks Global ‘Steel War’ as Tempers Flare – The Daily Telegraph
The flood of excess Chinese steel is destabilising the entire global industry. China is on a collision course with the world’s leading powers over excess steel output after it refused to sign up to an emergency global plan to cut capacity and eliminate subsidies.
Draghi Hits Out as ECB Maintains Zero Rate – The Times
Interest rates in the EU could fall deeper into negative territory, Mario Draghi said yesterday, as he talked down the prospect of “helicopter money” and hit back at critics in Germany.
US Finance Professionals Face Fresh Pay Crackdown – The Financial Traders (subscription)
Thousands of US finance professionals from Wall Street traders to brokers and investment bankers face new restrictions on pay after regulators put forward long-delayed plans to restrict bonuses.
Prince ‘Treated for Overdose Days before his Death’ – The Times (subscription)
Prince, the flamboyant musician who blazed a trail through the pop charts over four decades, collapsed and died in a lift at his home in Minneapolis yesterday. He was 57.
No Deal Between Greece and Lenders on Friday: Officials – Reuters
There will be no deal between Greece and its lenders on Friday that would unlock loans and enable vital debt relief talks, despite some progress on the reforms Athens must implement in exchange, euro zone and IMF officials said on Friday.
VW Sets Fresh Record with Historic Car Buy Back – The Financial Times
Volkswagen ran an ad for the Beetle in the 1960s that said “it runs and runs and runs”. Seven months into the diesel emissions scandal, the motto looks apt again.
Daimler Just Became the Latest Car Manufacturer to Look into its Diesel Emissions – City AM
Another car manufacturer is in trouble, after Mercedes-Benz maker Daimler announced an internal investigation into its emissions certification in the US on Friday.
How Abe Is Making a Failure of Success – Bloomberg
Prime Minister Shinzo Abe has had a great run since assuming power in 2012….He could be in power through 2020, becoming Japan’s longest-serving prime minister. No politician in Japan poses a serious threat.
Draghi Defies German Disfavor With Claim ECB Stimulus Works – Bloomberg
Mario Draghi has two stubborn adversaries — low inflation everywhere, and low regard in Germany. He’s now extending his offensive on both fronts.
China – FTCR Freight Index at Four-Month High but Still Historically Weak – FT Confidential (subscription)
Freight companies reported a slight improvement in conditions, but this was still the weakest April since 2012.
Icap to Deploy OpenFin HTML 5 Container for Fusion Desktop
OpenFinOpenFin, today announced that it has provided ICAP Global Broking with its industry leading HTML5 container technology, which will be used with ICAP’s next generation Fusion Desktop platform.
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