China’s imports of energy, including crude oil, coal and natural gas, slipped in July amid sluggish signs of growth in the world’s largest commodity consumer. Copper purchases also slowed.
“I need a dollar dollar, a dollar is what I need,” Aloe Blacc sang back in 2010. Japanese banks might now be humming a similar refrain as efforts to insulate big investors known as money market funds from a repeat of the 2008 financial crisis have resulted in a sharp rise in the cost of interbank lending and U.S. dollar funding.
Whenever Mario Draghi clears a hurdle on his path to higher inflation, a new one appears.
Austrian Foreign Minister Sebastian Kurz will block any effort to advance negotiations necessary for Turkey to join the European Union, he told Austrian newspaper Kurier in an interview over the weekend.
Japanese Emperor Akihito said Monday that age and ill health could make it difficult for him to carry out his official duties, hinting that he wanted to abdicate in what would be the most significant change to the imperial system in the postwar era.
Bitfinex, the digital-currency exchange that lost $65 million to hackers last week, plans to spread the losses among all its users, including those not directly affected by the hack.
Airbus Group SE said the U.K. Serious Fraud Office has opened a criminal investigation into allegations of fraud, bribery and corruption relating to some of its third-party consultants.
Betsy Waters is leaving her role as head of transactional FX for the Americas at HSBC to join global financial settlement solutions provider, Ripple, as US sales director. She starts at Ripple on September 6.
Former Barclays’ CEO Antony Jenkins has joined non-bank FX and international payment services provider Currencies Direct as non-executive chairman.
For Kaoru Sekiai, getting steady returns for his pension clients in Japan used to be simple: buy U.S. Treasuries.
Stark divisions in the views of Bank of Japan board members were highlighted on Monday, with some defending unlimited easing of monetary policy and others arguing the BOJ had done enough – to the point of driving big market swings and sapping bond market liquidity.
Global equities advanced with commodities after U.S. jobs data burnished sentiment toward the world’s largest economy. Thailand’s shares and currency gained after voters backed a new constitution, while South Korean assets were buoyed by a debt-rating upgrade.
Catastrophe bonds were invented in the early 1990s to help insurance companies mitigate the risk of disasters such as hurricanes and earthquakes. Today, like the very storms they protect against, catastrophe bonds are upending the insurance business.