At G20 Meeting, U.S. Accuses Russian Finance Officials Of Complicity in War
U.S. Treasury Secretary Janet Yellen accused Russian officials attending a G20 finance leaders meeting of being “complicit” in atrocities in Russia’s invasion of Ukraine, while host India avoided mentioning the year-long war in inaugural remarks. Indian Prime Minister Narendra Modi urged the financial leaders to focus on the world’s “most vulnerable citizens”, making no direct […]
Oil Prices Creep Higher As IEA Flags Chinese Demand Recovery
Oil prices rose slightly on Monday tracking optimistic comments on a recovery in Chinese demand from the International Energy Agency, although markets were still nursing steep weekly losses on fears of tighter U.S. monetary policy. International Energy Agency head Fatih Birol reiterated the agency’s call that China will push global crude demand to record highs […]
Asia FX Weakens On recession Wo Yen Supported By Yield Cap Bets
Most Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The yen was the best-performing Asian currency for the day, rising 0.5% to […]
Asia FX Rallies on China Reopening, Yuan at Over 4-Mth High
Most Asian currencies shot up on Monday, with the Chinese yuan hitting a four-month high after the country reopened its international borders, while hopes of a less hawkish rhetoric from the Federal Reserve also weighed on the dollar and supported regional units. The yuan jumped 0.7% to 6.7912 against the dollar, its strongest level since […]
A gender discrimination case against Google has been settled for $118 million.
In the United States, Google has agreed to pay $118 million to resolve a class-action gender discrimination case against Google, involving approximately 15,500 women in 236 job categories. Since September 14, 2013, the plaintiffs Kelly Ellis, Holly Pease, Kelli Wisuri, and Heidi Lamar have worked at Google in California in a “covered position.” The gender […]
World Bank lowers Pakistan’s economic growth forecast to 4.3%
Citing the additional burden on the budget put by the last-ditch energy subsidies by the outgoing Imran Khan government, the World Bank on Wednesday reduced Pakistan’s economic growth rate forecast for the current fiscal year by almost one percent, reported local media. “The financing of the price cuts or subsidies can create an additional burden on […]
OPEC+ resumes talks on 2021 policy amid discord on how to tackle oil demand
By Administrator_India Capital Sands LONDON – OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second coronavirus wave. The group of OPEC and allies, known as OPEC+, had been widely expected to roll over existing oil […]
Donald Trump refuses to commit to peaceful power transfer post-election
By Administrator_India Capital Sands US President Donald Trump on Wednesday wouldn’t commit to a peaceful transfer of power if a tally of ballots shows Democrat Joe Biden wins the November election. “We’re going to have to see what happens,” Trump said in response to a reporter’s question at a White House news conference. “You know […]
Brexit jitters: JPMorgan Chase to move $230-billion assets to Germany
By Administration_India Capital Sands JPMorgan Chase is moving about ^200 billion ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union (EU), a shift that will make it one of the largest banks in Germany. The US bank plans to finish the migration of the assets to its Frankfurt-based […]
Asian stocks fall on concerns about fresh lockdowns, banking sector
By Administrator_India Capital Sands Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks. JPMorgan Chase & Co and Bank of New York Mellon Corp on Monday fell 3.1% and 4.0%, respectively, while HSBC Holdings Plc and Standard Chartered Plc hit […]