Philip Lowe will replace Glenn Stevens as governor of the Reserve Bank of Australia for a seven-year term on Sept 18, Treasurer Scott Morrison said in a statement.
Tom Hayes, the former UBS Group AG trader serving 11 years in prison for rigging Libor, has turned to crowdfunding to raise 150,000 pounds ($218,000) for an appeal.
Inflation will not be returning towards target in the eurozone any time soon.
Ohio Governor John Kasich has dropped out of the presidential race after struggling to gain traction against Republican front-runner Donald Trump.
Donald Trump vowed to unite the Republican party after his landslide victory in Indiana set the property mogul up to be its nominee and cleared the way for an intense fight against Hillary Clinton for the White House.
- David Cameron Has ‘No Intention’ of Apologising to Donald Trump for Calling Him Stupid – The Times (subscription)
- Donald Trump Won’t Self-Fund General-Election Campaign – WSJ (subscription)
Some 95% of the 220 billion euros disbursed to Greece since the start of the financial crisis as loans from the bailout mechanism has been directed toward saving the European banks.
Fresh turmoil in the European Union risks triggering the disintegration of the entire bloc, according to Moody’s.
Seoul-based Kiwoom Asset Management (Kiwoom AM) has launched what is believed to be the first mutual fund in Asia that is subadvised by a robo advisor, raising the question of whether or not technology is posing a growing threat to traditional actively managed products.
Nomura Asset Management (Nomura AM) and Daiwa Asset Management (Daiwa AM) will become the first fund houses to take advantage of the Bank of Japan (BOJ)’s new exchange-traded fund (ETF) purchase plan later this month when they list on the Tokyo Stock Exchange (TSE) two ETFs designed specially to meet the central bank’s demands.
Rolls-Royce said trading has been line with expectations and reiterated its outlook today, but even so, the shares have dropped 3.7 per cent this morning as it warned “2016 continues to be a challenging year overall”.
JPMorgan Securities has found itself on a “name and shame” list in Hong Kong after the stock exchange turned down an application for an initial public offering for which the US bank was acting as a sponsor.
The fever that’s gripped Chinese commodity markets is easing.
Oil prices jumped on Thursday as a huge wildfire in Canada disrupted oil sands production, while escalating fighting in Libya threatened the North African nation’s output.
Commodity bulls, it might finally be time to exhale. There’s a growing chorus of voices and a surge of investor money signaling the worst of the commodity slump is over.
Growth in Britain’s dominant services industry slowed significantly in April, according to a closely-watched indicator of performance, raising fresh concerns that the forthcoming EU membership referendum is putting the brakes on economic expansion.
Activity in China’s service sector expanded again in April, though the gains were slightly less robust than in March, a private survey showed on Thursday, as firms resumed adding staff after a rare decline the previous month.
The yuan fell for a third day against the dollar on signs authorities prefer a weaker currency to stability versus the greenback.
Billionaire trader Stanley Druckenmiller on Wednesday warned that this moment reminds him of the period before the 2008 financial crisis.