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The scandal might be over but LIBOR ethics remain fundamentally flawed

May 13, 2017 03:30 am UTC| Insights & Views Law

When I was a trader at HSBC, Citibank, Crédit Agricole and Merrill Lynch, being able to accurately predict the the London Interbank Offered Rate (or LIBOR) each day was a central part of my job. It was, and still...

After the Olympics: stories from Rio's sex workers

May 13, 2017 03:21 am UTC| Insights & Views Life Economy

The vibrant city of Rio de Janiero has played host to some of the worlds best parties from Carnival, to the 2016 Olympic Games and the 2014 FIFA World Cup. Authorities have spent billions to ready the city, and each time...

Former FBI director James Comey very likely caused Trump's win

May 13, 2017 03:14 am UTC| Insights & Views Politics

On Tuesday, Donald Trump dramatically sacked FBI director James Comey. There has been speculation that Comey was fired in an attempt to prevent an FBI investigation into Trumps ties to Russia. While such an...

FxWirePro: Yet another signal from Brazilian retail sales numbers to reinforce struggling time in recessionary phase – RVs and Outright BRL trades

May 12, 2017 12:59 pm UTC| Insights & Views

The retail sales in Brazil illustrated once again as to how wobbly the economic recovery in Brazil is following two years of recession. In March sales fell by 1.9% MoM (on a seasonally adjusted basis). Following the...

BoE likely to leave interest rate unchanged over 2017/18, outcome of Brexit negotiations to determine policy direction

May 12, 2017 11:31 am UTC| Insights & Views Central Banks Economy

The Bank of Englands (BoE) Monetary Policy Committee (MPC) on Thursday voted by a majority of 7-1 votes to leave the bank rate unchanged at 0.25 percent as widely expected by the markets. The central bank also maintained...

FxWirePro: Have fragile WTI crude futures deteriorated in line with market fundamentals? Near month CFDs to hedge bearish risks

May 12, 2017 11:14 am UTC| Research & Analysis Insights & Views

The crude oil prices have fallen heavily and at times precipitously over the past week by a cumulative 6.5%. Consequently, oil prices have slumped below the level prevalent before the OPEC agreement in late...

Why Emmanuel Macron is bad news for Britain's finance industry

May 12, 2017 10:55 am UTC| Insights & Views Economy

The election of the globalist and EU-champion, Emmanuel Macron, to the French presidency poses a threat to the UKs financial sector and its economy more broadly. A potted history of the sector shows how important its...

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Economy

Russia Stocks End Flat as Energy Shares Support MOEX Index

Russian stocks finished mixed after the close of trading in Moscow on Saturday, with the MOEX Russia Index ending the session unchanged at 0.00%. Market sentiment remained cautious as gains in select energy and utility...

Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts

U.S. President Donald Trump traveled to the battleground state of North Carolina on Friday to defend his economic policies and reassure voters that the U.S. economy remains on solid footing, as concerns grow ahead of a...

EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls

Ukraine welcomed a major European Union decision on Friday to provide 90 billion in financial support over the next two years, a move Kyiv says will significantly strengthen its economic resilience amid the ongoing war...

Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts

White House economic advisor Kevin Hassett said President Donald Trump is correct in claiming inflation is low, despite official data, public sentiment, and many economists suggesting otherwise. Speaking on Fox Business,...

U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness

U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive...

Politics

Venezuela Condemns U.S. Seizure of Oil Tanker as “International Piracy”

The Venezuelan government has strongly condemned the seizure of a new oil tanker near its coast, accusing the United States of committing what it described as a serious act of international piracy. In an official statement...

Bangladesh Mourns Slain Youth Leader as Funeral Draws Thousands Amid Political Unrest

Tens of thousands of Bangladeshis gathered in Dhaka on Saturday to attend the funeral of Sharif Osman Hadi, a slain youth leader and election candidate whose killing has intensified political unrest ahead of the countrys...

U.S. Intercepts Venezuelan Oil Tanker in International Waters Amid Escalating Blockade Tensions

The United States has intercepted an oil tanker in international waters near Venezuela, intensifying tensions just days after President Donald Trump announced a total and complete blockade of sanctioned oil shipments...

Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays

Alphabets Google and Apple have advised certain employees working in the United States on temporary visas to avoid international travel, as visa stamping delays at U.S. embassies and consulates can now stretch up to 12...

U.S.–Russia Talks in Florida Raise Hopes but Reveal Deep Divides Over Ukraine War

U.S. negotiators met Russian officials in Florida over the weekend as the Trump administration intensified diplomatic efforts to help end Russias war in Ukraine, a conflict that began with Moscows full-scale invasion in...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties

A group of nine Republican U.S. lawmakers has formally urged the Pentagon to expand its list of Chinese companies accused of supporting Chinas military, intensifying scrutiny of Beijing-linked technology firms amid rising...

Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role

Dina Powell McCormick has resigned from Meta Platforms board of directors effective immediately, just eight months after joining the social media company, Meta confirmed on Friday. The unexpected departure comes at a time...

TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement

TikTok has taken a major step toward securing its future in the United States after its Chinese parent company, ByteDance, announced it has signed binding agreements with three major investors to form a new joint venture...

Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy

The U.S. government under President Donald Trump has launched a formal review that could pave the way for the first-ever shipments of Nvidias H200 artificial intelligence chips to China, according to multiple sources...

Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz

Oracle Corporation (NYSE: ORCL) shares surged sharply in extended trading on Thursday, reflecting renewed investor optimism fueled by reports of a potential U.S. TikTok transaction and fresh fundraising discussions...