“Wall Street profits bounced back strongly in 2016. Lower costs more than made up for the continued decline in revenues,” said New York State Comptroller Thomas P. DiNapoli. Pretax profits for the broker/dealer operations of New York Stock Exchange (NYSE) member firms, the traditional measure […]
Investor activist Bill Ackman and his Pershing Square Capital Management (PSH) firm, famous for their fight against Herbalife (HLF) which they deemed a pyramid scheme, would have lost up to USD 2.8 billion. Holding approximately 18.1 million shares and 9.1 million call options of Valeant...
The US labor market figures are so good that they would already meet the criteria set by the Federal Reserve (Fed) to define a situation of “full employment”. With 235,000 jobs created and a 0.2% increase in the average hourly wage in January 2017, the...
Following ECB top chiefs’ latest press conference, some analysts thought that the ECB signaled the accommodative monetary policy (QE) will be ending while some other analysts said the ECB just opted for business as usual, meaning a smooth continuation of the QE. “Based on our...
“At our meeting later this month, the Committee (FOMC) will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” said Federal Reserve (Fed)’s Chair Janet […]
According to the Financial Times, the price of a bitcoin has climbed above that of a troy ounce of gold for the first time on record after the cryptocurrency enjoyed a dramatic upswing in interest since last year. Bitcoin has jumped by nearly 33% YTD […]
Then it’s true? According to billionaire investor Warren Buffett, the US stock market isn’t in bubble territory. Describing the US economy’s dynamism as “unbelievable”, Buffett told CNBC that “if rates were to spike, however, then the stock market would be more expensive.” Indeed, Buffett followed […]
The merger between London Stock Exchange (LSE) and Deutsche Börse (DB) has become uncertain after LSE announced its refusal to grant an unexpected request from the European Commission (EC). The latter would demand that LSE cedes its majority share in MTS, an Italian electronic exchange […]
When it says no, it means no even if it is the IMF that insists. The German government headed by Chancellor Angela Merkel reiterated its opposition to any relief for Greece’s debt. Even though the policies enforced since the sovereign debt crisis in 2011 have […]
US Treasury Secretary Steven Mnuchin met with Bank of England (BOE) Governor and Financial Stability Board Chair Mark Carney. The two officials underscored that they looked forward to working together on international financial regulatory issues. Mnuchin stressed the importance of cooperation between the United States […]