News

16.10.2017

Reality Check

The Fed seems not to understand why there is so little inflation with the economy doing so well that a rate rise in December is probable and two or three more increases in 2018 are possible. There are various pundits that claim the US is doing well on many fronts with the unemployment percentage employed as an argument to prove that the Wall Street rally is thoroughly justified.

 
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16.10.2017

Fukushima disaster: court ruled Government, Tepco to pay $4.4 million to residents

A court on Tuesday ordered the state and the operator of the crippled Fukushima No. 1 atomic plant to pay a total of about $4.4 million in damages for the 2011 nuclear disaster, the second ruling of its kind in a series of group lawsuits filed nationwide. The Fukushima District Court ordered the government and Tokyo Electric Power Company Holdings Inc. to pay 500 million yen ($4.4 million) to about 2,900 of the 3,800 plaintiffs, many of whom did not evacuate and stayed at their homes in Fukushima and elsewhere in the midst of one of the world's worst nuclear crises.

 
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16.10.2017

Bitcoin Gold, the first fork in the blockchain's world

Another Bitcoin split is in the works, with a group of developers planning to establish an off-shoot called Bitcoin Gold (BTG). On October 25, Bitcoin Gold (Bgold) will split off from Bitcoin to create an ASIC-resistant cryptocurrency. A few weeks later, a significant group of Bitcoin companies wants to hard fork according to the SegWit2x plan as defined in the “New York Agreement” (NYA), which will probably result in yet another new coin. According to Bitcoin developer Jimmy Song, the aim is for BTG to become “a better gold than Bitcoin“.

 
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16.10.2017

Expert Commentary: Focus on EUR

This year the Euro zone economy expanded at a strong pace. Do you expect the ECB to start tapering anytime soon or not? We do expect the October announcement to reveal that the ECB is extending its QE program into the next year, however, at a slower pace, which the ECB itself does not describe as tapering. We would call it a rescaling or recalibration. But overall we do think that conditions are met for asset purchases to be slowed and eventually terminated by the end of the next year. Some analysts suggested that the strong Euro had a little impact on trade between the EU and the major economies. Do you agree with the statement?

 
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16.10.2017

Switzerland announced referendum over ban burqa issue

Voters in Switzerland will decide whether to ban Muslim face veils including the burqa after a campaign by far-right groups to outlaw the garment which they say undermine the "dignity of women". The public will get a chance to have its say in a referendum expected to be rolled out next year in the country where less than 5 per cent are Islamic in the largely Christian nation.

 
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13.10.2017

If Artificial Intelligence and robots threaten jobs in the next Future

Robots may soon be employed in your business: a study from Redwood Software and Sapio Research released October 4th revealed that IT leaders believe automation could impact 60% of businesses by 2022 and threaten jobs in the process. Further, 70% of these professionals say that robotics have become more of a priority in the last year. Automation can offer companies benefits including speed of process and reduction of manual effort, the survey of 500 IT decision makers across the US and UK found. Security and cost represent the top risks, tech leaders said.

 
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13.10.2017

Bayer to sell unit to BASF to ease Monsanto takeover

Germany's Bayer said Friday it would sell parts of its agrichemical business to rival BASF, kick-starting a competitor in the seeds market even as it clears the way for its mammoth takeover of US-based Monsanto. Bayer is selling some of its Crop Science business to BASF to help clear the way for its pending $66 billion acquisition of Monsanto Co. Bayer announced Friday that it had signed an agreement to sell the units for 5.9 million euro, or about $7 billion. "We are taking an active approach to address potential regulatory concerns, with the goal of facilitating a successful close of the Monsanto transaction,” Werner Baumann, Bayer chairman, said in a statement.

 
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13.10.2017

Bitcoin reached $5000, all-time high

Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. Less than a month ago, BTC/USD was trading below $3000 for a while, following a crash from $4980. Bitcoin, the biggest and best-known cryptocurrency, has chalked up a more than fivefold increase in price this year.

 
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13.10.2017

Citigroup, Deutsche, HSBC agree Libor settlement

Citigroup Inc, Deutsche Bank AG and HSBC Holdings Plc have agreed to pay a combined $132 million to settle a U.S. class action brought by futures traders accusing them of manipulating the Libor benchmark interest rate, according to a U.S. court filing, Reuters reported on Thursday.

 
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13.10.2017

Technical analysis : GBP/USD approaches 1.33

The British Pound had a very challenging trading session yesterday. Due to comments made by the EU Chief Negotiator Michel Barnier about a "deadlock" in Brexit negotiations the Sterling lost 116 basis points against the Greenback just in couple of hours. Despite a release of better than expected US Core PPI data, traders managed to return the pair to the pre-fall 1.3250 level.  In the first half of this trading session the currency rate is expected to test a resistance near the 1.3290 mark. However, whether the cable will manage to soar and bypass the 1.3300 level or fall back to the 200-hour SMA near 1.3192 will depend on release of data about the US CPI and retail sales, which, in turn, will have major implications on decision about the need of another interest rate hike this year.

 
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