As Russia pivots to the east, trade with China is booming

Trade turnover between Russia and China has been rapidly growing, rising 30 percent to reach $77 billion from January to September, statistics from China’s General Administration of Customs show. The volume of exports from China to Russia has grown by almost 13 percent, exceeding $35 billion. Imports of Russian goods surged by around 40 percent […]

Goldman Sachs Bear-Market Risk Indicator at Highest Since 1969

A Goldman Sachs Group Inc. indicator designed to provide a “reasonable signal for future bear-market risk” has risen to the highest in almost 50 years. The firm’s Bull/Bear Index, which is based on measures of equity valuation, growth momentum, unemployment, inflation and the yield curve, is now at levels last seen in 1969. While the […]

Euro will not survive if Italy fails

US policy-makers and world financial markets are surprisingly calm about the deepening Italian economic crisis. Italy’s economy is 10 times larger than Greece’s. If it fails, the euro cannot survive. It would also be too costly for its European partners to save. Unlike Greece, Italy has a populist government in place that is flouting the […]

Rising U.S. bond yields bring back Wall Street’s sinking feeling

Back in late January and early February, there was a 10 percent correction in the S&P 500 .SPX, with stock investors spooked as Treasury yield increases intensified with a monthly payrolls report showing the biggest wage gains for workers since 2009. This time around, strong economic data worried bond investors, who sent the benchmark yield on […]

Nikki Haley flips the script on Trump

The United Nations ambassador managed to resign on her own terms and get a glowing sendoff from the president along the way. Rumors circulated for months that President Donald Trump was poised to fire his secretary of State, Rex Tillerson, before he finally did so in March. The same was true of national security adviser […]

US threatens to block trade talks with China at G20

The US Treasury secretary has warned China not to engage in competitive devaluations of the renminbi as the two countries spar over their economic relations and engage in an escalating trade war. Steven Mnuchin said in an interview with the Financial Times that the Treasury monitored currency issues “very carefully” and noted that the Chinese […]

BoE warns EU that £41tn of derivatives at risk after Brexit

The Bank of England has issued its starkest warning yet that up to £41tn of derivatives contracts maturing after Brexit are at risk unless European officials urgently address regulatory uncertainty. The BoE said on Tuesday that clearing houses would have to tell European members such as banks to move their business or risk falling foul […]

Two Princes: How a secret meeting signaled the UAE’s pull in Trump’s D.C.

A meeting in the Seychelles between the Blackwater founder and a Putin ally has drawn scrutiny. It also indicated another backchannel to the White House. On January 11, 2017, a week before Trump’s inauguration, two powerful men huddled together at the bar of the Four Seasons Hotel in the Seychelles, off the coast of east […]

Silicon Valley war: Facebook Zuckerberg left alone by WhatsApp, Instagram and Oculus founders

One of Mark Zuckerberg’s closest deputies and the co-founder of WhatsApp have become embroiled in a spat about Facebook and its dealmaking, just days after the abrupt resignation of Instagram’s creators. The dispute will raise new questions about Mr Zuckerberg’s leadership style and his relationship with the entrepreneurs whose companies he paid billions to acquire.  […]

Iran nuclear deal: Plan put forward to dodge US sanctions

The remaining members in the Iranian nuclear deal say they will set up a new payment system to maintain business with Iran and bypass US sanctions. The system would facilitate oil companies and businesses to continue trading, without relying on the US-led global market and dollar. Exactly how the system would work is still being […]