Donald Trump, the billionaire real-estate developer who has upended the rules of modern campaigning, became the presumptive Republican presidential nominee on Tuesday after driving his top challenger, Texas Senator Ted Cruz, from the race with a crushing Indiana primary win.
- How Ted Cruz Dropped the Ball in his Bid for the White House – FT Subscription)
- Exiting 2016 Race, Republican Cruz Leaves Himself a Path Forward – Reuters
- How ‘Stop Trump’ Failed to Halt the Republican Front-Runner – Reuters
Economic uncertainty has hit its highest level in Britain in at least 19 years in the lead-up to the EU referendum, according to an influential index compiled by Stanford University.
Profit & Loss understands that Keith Sedergreen, managing director of Tullett Prebon in Sydney, has resigned from the firm to join BGC in Sydney as co-managing director, reporting to Mark Webster, executive managing director and general manager, Asia.
German Finance Minister Wolfgang Schaeuble said on Tuesday that he did not expect a “big crisis” to erupt this year in Greece, which is in talks with lenders on concluding its bailout review to unlock new funds and debt relief.
The US dollar has plunged to a 16-month low in the latest wild move for the global financial system, tightening the currency noose on the eurozone and Japan as they struggle to break out of a debt-deflation trap.
Global OTC derivatives markets saw a broad-based decline in activity in the second half of 2015. The notional amount of outstanding contracts fell by 11% between end-June 2015 and end-December 2015, from $552 trillion to $493 trillion (view data). Trade compression to eliminate redundant contracts was a key driver.
Seven banks have settled a private US lawsuit accusing them of rigging the ISDAfix interest rate benchmark, and agreed to pay $324 million. The settlement comes five weeks after a US District Judge refused to dismiss the lawsuit.
Big US banks would have greater protection from hedge funds in a future financial crisis under a Federal Reserve proposal released on Tuesday to require that some investors wait 48 hours before cutting ties with failing lenders.
The SEC enacted a whistleblower program in 2011, similar to the Federal False Claims Act and the numerous state false claims acts. In like fashion, someone who voluntarily provides information to the SEC that leads to a successful prosecution may be awarded 10% – 30% of the enforcement funds collected in excess of $1 million. To date, the program has paid out more than $57 million to 26 whistleblowers.
BHP Billiton’s Sydney-listed shares just had their biggest one-day drop since the financial crisis. Are investors in the London-listed stock due a second helping?
It’s been another bumper morning for European corporate earnings. Here’s a round up of the movers on the stock markets.
Shell posted a sharp fall in profits in its first set of results since merging with global gas giant BG Group, but nevertheless beat expectations against a backdrop of low oil prices.
Société Générale says it will deepen cost cuts at its investment bank after rocky trading conditions hit first-quarter results.
Apple has lost a trademark fight in China, meaning a firm which sells handbags and other leather goods can continue use the name “iPhone”.
China’s central bank is turning on the credit taps to its policy banks as it seeks to support the economy by channeling credit to designated areas of the government’s choosing.
The US Treasury has debated a sweeping overhaul of the $13tn government bond market, including a proposal to buy back old debt as officials focus on the health of trading in a core asset of many global investment portfolios.
The foreign exchange market is notorious for overshooting. A currency that starts moving in a particular direction as economic fundamentals change will often end up at a rate that can’t be justified by the data.
European Central Bank policy is helping to sustain growth in the euro area economy, though the pace is “tepid” and inflation remains too low, according to Markit Economics.