News

25.08.2017

China's metal demand is still pretty strong

China's iron ore futures rose on Friday and were on course to extend their winning streak to a ninth straight week, backed by firm steel consumption in the world's top user. China's infrastructure push, spurred by its public-private partnership (PPP) projects to lure private investment in infrastructure and public utility projects, has boosted steel demand this year, fattening margins at construction steel producers to the biggest in years.

 
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25.08.2017

Brexodus: Uk immigration drops after Brexit vote

Net migration to Britain has fallen to a three-year low as a growing number of European Union citizens have left the country following last year's Brexit referendum. Data released Thursday by the Office for National Statistics provides evidence that the uncertainty and economic jitters caused by Britain's vote to quit the EU are deterring immigrants and sparking a "Brexodus."

 
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25.08.2017

Former Societe Generale employees accused of Libor manipulation by US

United States authorities on Thursday charged two managers at the French bank Société Générale with taking part in a scheme to manipulate a global benchmark interest rate known as Libor. As Reuters reported, Danielle Sindzingre, 54, the bank’s former global head of treasury, and her subordinate Muriel Bescond, 49, its former head of treasury in Paris, were accused in an indictment filed in a New York federal court of submitting false information about the rates at which the bank was able to borrow money.

 
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25.08.2017

App review - Summer edition: TripWolf to have all travel guides in one place

 
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24.08.2017

Tiffany sets bigger Q2 profits than expected

Tiffany  today reported its financial results for the three months (“second quarter”) and six months (“first half”) ended July 31, 2017. In both periods, modest net sales increases and improved operating margins contributed to growth in diluted earnings per share. Management maintained its sales and earnings guidance for the full year ending January 31, 2018 (“fiscal 2017”), and provided guidance for the second half of the year.

 
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24.08.2017

Tesla Model S gets thumbs down by German environment minister

Amidst almost universal accolades for the Tesla Model S, an environmental minister for the German state of North Rhine-Westphalia has done the unthinkable. He has returned the Model S he used for official business, claiming it has several drawbacks that make it unsuitable for everyday driving.

 
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24.08.2017

Expert Commentary: Focus on Gold

What factors would determine the future performance of gold prices? I suppose that it is all about the outlook for the trend of interest rates in the United States. By that I mean the Treasury Inflation Protected Securities yield and the federal funds rate. In my opinion, these would be the factors that will drive the price of gold. At this point in time, our view is that the fed fund rate will be moving higher, thus, we are not anticipating much more strength in gold prices, not much beyond the $1,300 to $1,350.

 
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24.08.2017

US Congress: Members plan to set regulatory control over Bitcoin

Members of the U.S. Congress are drafting legislation that would protect certain forms of cryptocurrency from being used for illegal activities while helping cultivate mainstream adoption. Reports indicate that at least one Republican senator and two Republican congressmen are working on the bill.

 
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24.08.2017

Intesa San Paolo closes the deal with Swiss private Banque Morval

Italy's largest retail bank Intesa Sanpaolo said on Wednesday it had reached an agreement to buy Switzerland's Banque Morval. "The agreement is in line with Intesa Sanpaolo's strategic plan to strengthen its presence on international markets in the field of private banking," the two said in a joint statement, without disclosing the value of the acquisition.

 
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23.08.2017

Brexit's mistakes: EU citizens received letters to leave UK

The Home Office sent about 100 letters "in error" to EU citizens living in the UK, telling them they were liable for "detention". The mistake emerged after a Finnish academic, who has the right to live in the UK, received one of the letters. Eva Johanna Holmberg, a visiting academic fellow from the University of Helsinki at Queen Mary University of London, was told in the letter that she had a month to leave. She has lived in the UK with her British husband for most of the last decade.

 
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