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ECONOMY AND FINANCE

How much does P2P drive engagement for banks?

From: AMERICAN BANKER - 24 min 29 sec ago - [CET/Central European Time]
The market for P2P payments is finally taking off after years of false starts, but there are still many unanswered questions. The biggest one: How do banks get value out of offering this service free of charge?
Placed in category: ECONOMY AND FINANCE

Bankers fight bill to let credit unions take public deposits in Florida

From: AMERICAN BANKER - 24 min 42 sec ago - [CET/Central European Time]
State law bars credit unions from accepting deposits from cities, counties and other government entities. Florida banks say it should stay that way unless tax advantages for credit unions are removed, but credit unions counter that banks are trying to stifle competition.
Placed in category: ECONOMY AND FINANCE

P2P Payments: Driving Customer Engagement

From: AMERICAN BANKER - 34 min 13 sec ago - [CET/Central European Time]
Person-to-person payments have become table stakes for institutions looking to attract and retain younger customers. The service may also be one of the keys to keeping big-tech insurgents like Amazon at bay.
Placed in category: ECONOMY AND FINANCE

Trump considering Stephen Moore for Fed board: sources

From: AMERICAN BANKER - 1 hour 8 min ago - [CET/Central European Time]
Moore is a founder of the conservative Club for Growth and served on the editorial board of the Wall Street Journal.
Placed in category: ECONOMY AND FINANCE

Canara Bank issues bonds to raise up to $400 mn via London branch

From: The Hindu Biz. - 1 hour 18 min ago - [CET/Central European Time]
Bonds carry coupon of 3.875% payable half-yearly
Placed in category: ECONOMY AND FINANCE

GM Announces Jobs, Electric Vehicle After Trump Criticism

From: Voice of America -Economy - 1 hour 28 min ago - [CET/Central European Time]
Less than a week after a series of critical tweets from the president over an Ohio plant closure, General Motors is announcing plans to add 400 jobs and build a new electric vehicle at a factory north of Detroit. The company says it will spend $300 million at its plant in Orion Township, Michigan, to manufacture a Chevrolet vehicle based on the battery-powered Bolt. GM wouldn't say when the new workers will start or when the new vehicle will go on sale, nor would it say if the workers will be new hires or come from a pool of laid-off workers from the planned closings of four U.S. factories by January. The company also announced plans Friday to spend about another $1.4 billion at U.S. factories with 300 more jobs but did not release a time frame or details. The moves come after last weekend's string of venomous tweets by President Donald Trump condemning GM for shutting its small-car factory in Lordstown, Ohio, east of Cleveland. During the weekend, Trump demanded that GM reopen the plant or sell it, criticized the local union leader and expressed frustration with CEO Mary Barra. GM spokesman Dan Flores would not answer questions about Trump but said the investment has been in the works for weeks. Indeed, GM has said it planned to build more vehicles off the underpinnings of the Bolt, which can go an estimated 238 miles on a single electric charge. The company has promised to introduce 20 new all-electric vehicles globally by 2023. In November, GM announced plans to shut the four U.S. factories and one in Canada. About 3,300 workers in the U.S. would lose their jobs, as well as 2,600 in Canada. Another 8,000 white-collar workers were targeted for layoff. The company said the moves are necessary to stay financially healthy as GM faces large capital expenditures to shift to electric and autonomous vehicles. Plants slated for closure include Lordstown; Detroit-Hamtramck, Michigan; Warren, Michigan; White Marsh, Maryland, near Baltimore and Oshawa, Ontario near Toronto. The factories largely make cars or components for them, and cars aren't selling well these days with a dramatic consumer shift to trucks and SUVs. With the closures, GM is canceling multiple car models due to slumping sales, including the Chevrolet Volt plug-in gas-electric hybrid. GM has said it can place about 2,700 of the laid-off U.S. workers at other factories, but it's unclear how many will uproot and take those positions. More than 1,100 have already transferred, and others are retiring. The United Auto Workers has sued GM over the closings, which still must be negotiated with the union. Trump's latest GM tweet on Monday said GM should: "Close a plant in China or Mexico, where you invested so heavily pre-Trump," and "Bring jobs home!" Ohio and the area around the Lordstown plant are important to Trump's 2020 re-election bid. The state helped push him to victory in 2016, and Trump has focused on Lordstown, seldom mentioning the other U.S. factories that GM is slated to close. Barra has said that she sees no further layoffs or plant closures through the end of 2020.
Placed in category: ECONOMY AND FINANCE

Examiners should stay focused on ‘big picture’: FDIC’s McWilliams

From: AMERICAN BANKER - 1 hour 41 min ago - [CET/Central European Time]
The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”
Placed in category: ECONOMY AND FINANCE

Smaller institutions should embrace, not oppose, fintechs

From: AMERICAN BANKER - 2 hours 34 min ago - [CET/Central European Time]
Financial startups are becoming important partners for community banks and credit unions, despite lobbying efforts to limit their growth.
Placed in category: ECONOMY AND FINANCE

Papa John’s announces Shaquille O’Neal as new ambassador

From: NEW YORK POST -BUSINESS - 2 hours 42 min ago - [CET/Central European Time]
Could Shaq make Papa John’s a slam dunk again? Shaquille O’Neal announced Friday that he will be the company’s first African-American board member. The fifth-highest-scoring player in NBA history also was recruited as the official face — or “ambassador” — of the struggling pizza giant. “I have truly enjoyed the high-quality Papa John’s product for...
Placed in category: ECONOMY AND FINANCE

How 6 million Bank of America customers are using Erica

From: AMERICAN BANKER - 3 hours 50 sec ago - [CET/Central European Time]
The most popular features of the AI-driven virtual assistant include transaction search and spending alerts.
Placed in category: ECONOMY AND FINANCE

8.96 lakh jobs created in January, 76.48 lakh in last 17 months: EPFO payroll data

From: The Hindu Biz. - 3 hours 14 min ago - [CET/Central European Time]
The EPFO, however, revises the cumulative job addition data for the September 2017-December 2018 period downwards by 6.6% to 67.52 lakh, from the earlier forecast of 72.32 lakh.
Placed in category: ECONOMY AND FINANCE

8.96 lakh jobs created in January, 76.48 lakh in last 17 months: EPFO payroll data

From: The Hindu Economy - 3 hours 14 min ago - [CET/Central European Time]
The EPFO, however, revises the cumulative job addition data for the September 2017-December 2018 period downwards by 6.6% to 67.52 lakh, from the earlier forecast of 72.32 lakh.
Placed in category: ECONOMY AND FINANCE

Consequence for legal brinkmanship: ASIC sounds warning to the banks

From: Sydney Morning Herald - Business - 3 hours 19 min ago - [CET/Central European Time]
New enforcement chief at corporate cop says legal game playing will be punished in the post-royal commission world.
Placed in category: ECONOMY AND FINANCE

'We should be feared': Former bouncer turned corporate cop wants justice

From: Sydney Morning Herald - Business - 3 hours 19 min ago - [CET/Central European Time]
Daniel Crennan looks menacing. Sitting his huge frame down for his first interview since becoming a deputy at the corporate cop, he is no mood for small talk.
Placed in category: ECONOMY AND FINANCE

Have you claimed your Kenneth Hayne mortgage discount yet?

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
More borrowers are using the spotlight of the royal commission to demand better deals from their lenders.
Placed in category: ECONOMY AND FINANCE

'Nothing is off the cards': Canva has designs on Nasdaq listing

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
The founder of Canva wears the same black dress most days. It means it's one less decision the woman behind a $1 billion company has to make.
Placed in category: ECONOMY AND FINANCE

'It's ridiculous how many I have': the pot plant fans reshaping nurseries

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
The rise of 'Planstagram' and the move to smaller home living has led to a surge in Australia's love affair with indoor plants.
Placed in category: ECONOMY AND FINANCE

Without Reserve: Property Industry Foundation raises $430,000

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
PIF regatta raised $430,000 to build homes for homeless youth.
Placed in category: ECONOMY AND FINANCE

In office, the incentive frenzy continues

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
Hot Property
Placed in category: ECONOMY AND FINANCE

Humble public lavatory gets a luxe makeover

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
Shopping centres and airports are seeking to improve toilet experiences and save water and energy costs.
Placed in category: ECONOMY AND FINANCE

Investa sets the pace for booming office market

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
Sydney's city skyline is set to be changed with the arrival of the new-look 60 Martin Place.
Placed in category: ECONOMY AND FINANCE

Market Wrap: A round-up of sales and leasing action around Sydney

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
The Grand Pavilion Indian restaurant has a new home in the CBD.
Placed in category: ECONOMY AND FINANCE

Spacious amenities lure high-living students

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
The Student Housing Company is providing high-rise accommodation alternatives to students on the edge of universities.
Placed in category: ECONOMY AND FINANCE

Vivid development pain in South Melbourne

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
It’s caveats at 10 paces down at Southbank as a property part-owned by film producers David Parker and Nadia Tass is put up for sale over a failed property development.
Placed in category: ECONOMY AND FINANCE

Strata buoys Cedar Woods at Williams Landing

From: Sydney Morning Herald - Business - 3 hours 34 min ago - [CET/Central European Time]
Mid-tier property developer Cedar Woods is soaking up strong demand for office at its signature Williams Landing project in Point Cook.
Placed in category: ECONOMY AND FINANCE

How technology could close gender gap; bank stocks drop

From: AMERICAN BANKER - 4 hours 5 min ago - [CET/Central European Time]
Shift toward computerized, quantitative trading helps women advance; big bank stocks are on a pace for their worst week since December.
Placed in category: ECONOMY AND FINANCE

Govt exceeds disinvestment target this fiscal, proceeds touch Rs 85,000 crore

From: Economic Times India - 4 hours 13 min ago - [CET/Central European Time]
Govt has mopped up Rs 9,500 crore from the fifth tranche of CPSE ETF and Rs 14,500 crore from the REC-PFC deal.
Placed in category: ECONOMY AND FINANCE

Trump says trade agreement with China ‘will probably happen’

From: NEW YORK POST -BUSINESS - 4 hours 33 min ago - [CET/Central European Time]
WASHINGTON – President Trump said trade negotiations with China were progressing and a final agreement “will probably happen,” adding that his call for tariffs to remain on Chinese imported good for some time did not mean talks were in trouble. Trump, in a television interview aired on Friday, also said he expected to keep a...
Placed in category: ECONOMY AND FINANCE

Myer to stop selling Apple products

From: Sydney Morning Herald - Business - 6 hours 9 min ago - [CET/Central European Time]
Australia's largest department store operator Myer will stop selling "unprofitable" Apple products as part of its drive to focus on higher-margin items.
Placed in category: ECONOMY AND FINANCE

Attempts to subsume South-South cooperation in global aid architecture not helpful: India

From: Economic Times India - 8 hours 8 min ago - [CET/Central European Time]
South–South cooperation is about developing countries working together to find solutions to common development challenges.
Placed in category: ECONOMY AND FINANCE

Solomon Lew gives himself a birthday present as sales soar

From: Sydney Morning Herald - Business - 8 hours 34 min ago - [CET/Central European Time]
Apparel brands boost profit and defy the market.
Placed in category: ECONOMY AND FINANCE

Cancer Council urges caution as spotlight sharpens on weedkiller Roundup

From: Sydney Morning Herald - Business - 10 hours 2 min ago - [CET/Central European Time]
Cancer Council Australia has called for better information for workers using the herbicide glyphosate after a US case linked the weedkiller to cancer.
Placed in category: ECONOMY AND FINANCE

Jewellery group Pandora admits to misleading customers on refund rights

From: Sydney Morning Herald - Business - 10 hours 10 min ago - [CET/Central European Time]
Pandora acknowledged it was "likely to have engaged in misleading and deceptive conduct" after customer complaints were made to the ACCC.
Placed in category: ECONOMY AND FINANCE

ASX advances on dovish Fed

From: Sydney Morning Herald - Business - 10 hours 39 min ago - [CET/Central European Time]
Australian shares closed a mixed week higher, as a firm rebound on the final day of trading offset a nervous start to the week. 
Placed in category: ECONOMY AND FINANCE

Retail industry can lead the way in skilling, hiring PwDs: report

From: The Hindu Biz. - 10 hours 44 min ago - [CET/Central European Time]
Says mainstreaming of persons with disabilities can add 5%-7% to global GDP; PwD levels of productivity at least 1.5 times higher when compared with abled employees
Placed in category: ECONOMY AND FINANCE

Retail industry can lead the way in skilling, hiring PwDs: report

From: The Hindu Economy - 10 hours 44 min ago - [CET/Central European Time]
Says mainstreaming of persons with disabilities can add 5%-7% to global GDP; PwD levels of productivity at least 1.5 times higher when compared with abled employees
Placed in category: ECONOMY AND FINANCE

India one of world's fastest growing large economies: IMF

From: Economic Times India - 10 hours 53 min ago - [CET/Central European Time]
Details about the Indian economy would be revealed in the upcoming World Economic Outlook (WEO) survey report.
Placed in category: ECONOMY AND FINANCE

$713 million wiped off value of gold miner St Barbara

From: Sydney Morning Herald - Business - 10 hours 57 min ago - [CET/Central European Time]
Investors have bludgeoned more than $700 million off the value of gold miner St Barbara.
Placed in category: ECONOMY AND FINANCE

Palestinians in financial crisis after Israel, US moves

From: ARAB ECONOMY - 11 hours 26 min ago - [CET/Central European Time]
Author: Hossam Ezzedine | AFPID: 1553230428649223400Fri, 2019-03-22 04:07

RAMALLAH, Palestinian Territories: The Palestinian Authority faces a suffocating financial crisis after deep US aid cuts and an Israeli move to withhold tax transfers, sparking fears for the stability of the West Bank.
The authority, headed by President Mahmud Abbas, announced a package of emergency measures on March 10, including halving the salaries of many civil servants.
The United States has cut more than $500 million in Palestinian aid in the last year, though only a fraction of that went directly to the PA.
The PA has decided to refuse what little US aid remains on offer for fear of civil suits under new legislation passed by Congress.
Israel has also announced it intends to deduct around $10 million a month in taxes it collects for the PA in a dispute over payments to the families of prisoners in Israeli jails.
In response, Abbas has refused to receive any funds at all, labelling the Israeli reductions theft.
That will leave his government with a monthly shortfall of around $190 million for the length of the crisis.
The money makes up more than 50 percent of the PA’s monthly revenues, with other funds coming from local taxes and foreign aid.

While the impact of the cuts is still being assessed, analysts fear it could affect the stability of the occupied West Bank.
“If the economic situation remains so difficult and the PA is unable to pay salaries and provide services, in addition to continuing (Israeli) settlement expansion it will lead to an explosion,” political analyst Jihad Harb said.
Abbas cut off relations with the US administration after President Donald Trump declared the disputed city of Jerusalem Israel’s capital in December 2017.
The right-wing Israeli government, strongly backed by the US, has since sought to squeeze Abbas.
After a deadly anti-Israeli attack last month, Prime Minister Benjamin Netanyahu said he would withhold $138 million (123 million euros) in Palestinian revenues over the course of a year.
Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through its ports, and then transfers the money to the PA.
Israel said the amount it intended to withhold was equal to what is paid by the PA to the families of prisoners, or prisoners themselves, jailed for attacks on Israelis last year.
Many Palestinians view prisoners and those killed while carrying out attacks as heroes of the fight against Israeli occupation.
Israel says the payments encourage further violence.
Abbas recently accused Netanyahu’s government of causing a “crippling economic crisis in the Palestinian Authority.”
The PA also said in January it would refuse all further US government aid for fear of lawsuits under new US legislation targeting alleged support for “terrorism.”

Finance Minister Shukri Bishara announced earlier this month he had been forced to “adopt an emergency budget that includes restricted austerity measures.”
Government employees paid over 2,000 shekels ($555) will receive only half their salaries until further notice.
Prisoner payments would continue in full, Bishara added.
Nasser Abdel Karim, a Ramallah-based economics professor, told AFP the PA, and the Palestinian economy more generally, remain totally controlled by and reliant on Israel.
The PA undertook similar financial measures in 2012 when Israel withheld taxes over Palestinian efforts to gain international recognition at the United Nations.
Abdel Karim said such crises are “repeated and disappear according to the development of the relationship between the Palestinian Authority and Israel or the countries that support (the PA).”
Israel occupied the Gaza Strip and the West Bank, including now annexed east Jerusalem in the Six-Day War of 1967 and Abbas’s government has only limited autonomy in West Bank towns and cities.
“The problem is the lack of cash,” economic journalist Jafar Sadaqa told AFP.
He said that while the PA had faced financial crises before, “this time is different because it comes as a cumulative result of political decisions taken by the United States.”
Abbas appointed longtime ally Mohammad Shtayyeh as prime minister on March 10 to head a new government to oversee the crisis.
Abdel Karim believes the crisis could worsen after an Israeli general election next month “if a more right-wing Israeli government wins.”
Netanyahu’s outgoing government is already regarded as the most right-wing in Israel’s history but on April 9 parties even further to the right have a realistic chance of winning seats in parliament for the first time.
Israeli-Palestinian peace efforts have been at a standstill since 2014, when a drive for a deal by the administration of President Barack Obama collapsed in the face of persistent Israeli settlement expansion in the West Bank.

Main category: Business & EconomyTags: Palestine Israeli soldiers kill unarmed Palestinian in West Bank
Placed in category: ECONOMY AND FINANCE

Fitch cuts India GDP growth forecast for FY20 to 6.8%

From: The Hindu Biz. - 11 hours 28 min ago - [CET/Central European Time]
Fitch Ratings cut India’s FY19 GDP growth forecast to 7.2% from 7.8% on December 6.
Placed in category: ECONOMY AND FINANCE

Fitch cuts India GDP growth forecast for FY20 to 6.8%

From: The Hindu Economy - 11 hours 28 min ago - [CET/Central European Time]
Fitch Ratings cut India’s FY19 GDP growth forecast to 7.2% from 7.8% on December 6.
Placed in category: ECONOMY AND FINANCE

Indonesia's carrier Garuda to call off order for 49 Boeing 737 Max 8 jets

From: The Hindu Biz. - 11 hours 45 min ago - [CET/Central European Time]
Garuda is also talking to Boeing about whether or not to return the plane it has received, the spokesman said.
Placed in category: ECONOMY AND FINANCE

Sensex rises over 100 points on robust FII buying

From: The Hindu Biz. - 11 hours 52 min ago - [CET/Central European Time]
Gains were, however, capped tracking Asian markets as investors turned cautious after the US Federal Reserve kept interest rates unchanged, experts said.
Placed in category: ECONOMY AND FINANCE

Australia can defy economic gravity for longer

From: Sydney Morning Herald - Business - 12 hours 6 min ago - [CET/Central European Time]
While the Aussie cool-down is real, a cautious optimism may also be justified.
Placed in category: ECONOMY AND FINANCE

Workers win fight against penalty rates cut

From: Sydney Morning Herald - Business - 12 hours 10 min ago - [CET/Central European Time]
The Fair Work Commission on Friday rejected the Clubs Australia application to roll the registered and licensed clubs award into the hospitality industry award.
Placed in category: ECONOMY AND FINANCE

Rupee rises 6 paise to 68.57 vs USD in early trade

From: The Hindu Biz. - 12 hours 13 min ago - [CET/Central European Time]
Forex dealers said, selling of the American currency by exporters and positive opening in domestic equities supported the rupee.
Placed in category: ECONOMY AND FINANCE

How Facebook's hour of inaction enabled the Christchurch video to spread

From: Sydney Morning Herald - Business - 12 hours 40 min ago - [CET/Central European Time]
A full 29 minutes passed from the start of the gunman's live stream before Facebook - the very platform on which it was hosted - even knew about it.
Placed in category: ECONOMY AND FINANCE

Judge advises Lampert’s firm to pay back millions swiped from Sears

From: NEW YORK POST -BUSINESS - 14 hours 13 min ago - [CET/Central European Time]
A bankruptcy judge has “strongly” advised the company that bought Sears out of bankruptcy to hand over millions of dollars to the old Sears. At a Thursday hearing, Judge Robert Drain weighed in on the contentious financial dispute between Sears and Transform Holdings, the firm owned by billionaire investor Eddie Lampert’s hedge fund, which bought...
Placed in category: ECONOMY AND FINANCE

Popular cash advance app Earnin operating in payday loan ‘gray area,’ critics claim

From: NEW YORK POST -BUSINESS - 14 hours 28 min ago - [CET/Central European Time]
AJ Smith knows all about folks owing money. After all, he’s a debt collector in Las Vegas, the gambling capital of the world. So last March, when Smith downloaded Earnin, an app that fronts workers part of their paychecks early, he didn’t think anything of it. It was cash he’d already earned, the company said...
Placed in category: ECONOMY AND FINANCE

This email subject line could well be a business scam

From: Sydney Morning Herald - Business - 14 hours 51 min ago - [CET/Central European Time]
As phishing scam losses stack up, warnings issued about the everyday brands getting impersonated.
Placed in category: ECONOMY AND FINANCE

As worries about populism in Europe rise, investors bet on stock market volatility

From: ARAB ECONOMY - 15 hours 6 min ago - [CET/Central European Time]
Author: ReutersID: 1553216288498380100Fri, 2019-03-22 04:00

LONDON: Investors are betting on heightened political uncertainty and greater volatility in European stock markets ahead of European Parliament elections in May amid growing concerns about rising populism.
In one of the first concrete signs in financial markets that investors are bracing for political instability, VSTOXX futures , which reflect investor sentiment and economic uncertainty, have jumped in recent weeks.
While the classic gauge of fear — known as implied volatility, which tracks demand for options in European stocks — is currently at 15.68, futures that bet on the same thing over the coming months show a pronounced jump.
That’s because investors have piled on trades that bet on big swings in stocks as election day nears.
Implied volatility for futures contracts expiring in May show a pronounced jump to 16.8, compared with 15.35 in April. The contracts measure the 30-day implied volatility of the euro zone STOXX 50 index.
“We are seeing a bit of a kink around May when we have European elections and we have this wave of populism,” said Edmund Shing, head of equities and derivatives strategy at BNP Paribas.

Looming elections
More than 350 million EU citizens will head to the polls between May 23 and 26 to elect a new Parliament, a vote that will shape the future of the bloc amid a backlash against immigration and years of austerity.
Mainstream center-left and center-right lawmakers may lose control of the legislature for the first time, as euroskeptic and far-right candidates build support.
Herve Guyon, Societe Generale’s head of European equity derivatives flow strategy and solutions, said the rise of populism had triggered a recent flurry of speculative trades.
“Political uncertainty might be coming from the EU rather than the United States. We’ve seen investors doing very large trades to benefit from an increase in volatility around these events,” he said.
“We as a bank don’t expect the elections to be a massive game-changer. The populists won’t get enough to disrupt the political system, but we do note some investors did take some positions on this event.”
The implied volatility is still well below levels seen in late 2018 when global stock markets were routed amid worries about rising interest rates, slowing economic growth and the trade war between Beijing and Washington.
In late December, it shot to above 26, its highest since February.
But the flurry of activity suggests investors are seeking out new opportunities after a slide in implied volatility across major asset classes.
Edward Park, deputy chief investment officer at asset manager Brooks MacDonald, said some of the activity may also be due to persistent uncertainty about Britain’s exit from the European Union as the Brexit date of March 29 nears.
This year, volatility across currency, fixed income and stocks markets has plunged as the US Federal Reserve and European Central Bank have taken dovish policy stances.
The Deutsche Bank currency volatility indicator hit multi-year lows this week, while the proxy for fixed income volatility is languishing at all-time lows.
In stocks, the Cboe volatility index, Wall Street’s so-called “fear gauge,” fell to its weakest in six months this week.
“There’s been a cross-asset volatility crash — in euro-dollar, US rates and equities — in the aftermath of (ECB President Mario) Draghi’s and (Fed Chairman Jerome) Powell’s comments and the expectation of lower rates for longer,” said Guyon.

Main category: Business & EconomyTags: Stock MarketsVSTOXX futuresSTOXX 50 index Ahead of EU elections, Macron unveils plan for “European renaissance”Europe’s slowdown is worse than investors imagined, says financial expert
Placed in category: ECONOMY AND FINANCE

'It’s hard to fix something that’s not really broken': Comments of the week

From: AMERICAN BANKER - 15 hours 12 min ago - [CET/Central European Time]
Readers debate the odds of legislative reform to Fannie Mae and Freddie Mac, consider the growing problem of "friendly fraud," weigh ways to avoid reputation problems and more.
Placed in category: ECONOMY AND FINANCE

A banker’s guide to Facebook’s new advertising rules

From: AMERICAN BANKER - 15 hours 28 min ago - [CET/Central European Time]
Banks will likely continue to exercise caution in the wake of Facebook's announcement that it’s restricting the way providers of housing, employment and credit advertise on its site.
Placed in category: ECONOMY AND FINANCE

Burnout, sleepless nights, no energy for sex: Welcome to life in China's Silicon Valley

From: Sydney Morning Herald - Business - 15 hours 45 min ago - [CET/Central European Time]
To get ahead in China's Silicon Valley, tech firms are pressuring workers to work the 996 schedule - 9am to 9pm, six days a week.
Placed in category: ECONOMY AND FINANCE

Suncorp pays special dividend from life sale

From: Sydney Morning Herald - Business - 16 hours 29 min ago - [CET/Central European Time]
Suncorp shareholders will receive a special dividend of 8¢ a share as the banking and insurance firm starts handing over proceeds from its $725 million Australian life insurance sale.
Placed in category: ECONOMY AND FINANCE

Tesla sues former employees for allegedly stealing self-driving car secrets

From: Sydney Morning Herald - Business - 17 hours 33 min ago - [CET/Central European Time]
One of the lawsuits accuses an employee of stealing source code for its Autopilot technology before joining a Chinese self-driving startup in January.
Placed in category: ECONOMY AND FINANCE

How a $US6m denim inheritance turned into a $US5.6b fortune

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 23:54 - [CET/Central European Time]
Just over a century after Levi Strauss' death, some of his descendants are cashing in.
Placed in category: ECONOMY AND FINANCE

'Walk on eggshells': The man who who has billionaires quivering

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 23:22 - [CET/Central European Time]
For decades, South Korea's most powerful tycoons ran their companies with little regard for minority shareholders. Then came Paul Singer.
Placed in category: ECONOMY AND FINANCE

Wall Street rises as Apple, tech shares climb

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 23:20 - [CET/Central European Time]
An Apple-led tech rally has pushed Wall Street higher as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.
Placed in category: ECONOMY AND FINANCE

ASX to rise, Navitas accepts BGH offer

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 22:58 - [CET/Central European Time]
Australian shares are poised to rise firmly on Friday after investors opted to embrace the Fed's dovish tone, reversing the wariness of the previous session.
Placed in category: ECONOMY AND FINANCE

Smiggle, Just Jeans owner defies tough retail conditions with record profit

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 22:57 - [CET/Central European Time]
Premier Investments has delivered a 13 per cent increase in first-half net profit to a record $88.8 million thanks to strong sales growth in its stable of brands. 
Placed in category: ECONOMY AND FINANCE

Australia's property stocks are ignoring the housing slump

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 22:44 - [CET/Central European Time]
Australian property stocks are proving largely immune to the worst housing slump in a generation, rallying to the highest in almost three years.
Placed in category: ECONOMY AND FINANCE

High rates alone won't make direct banks' customers happy, study says

From: AMERICAN BANKER - Thu, 03/21/2019 - 22:21 - [CET/Central European Time]
J.D. Power found that customers who have a variety of accounts with an online-only bank are far more satisfied than those with just checking or savings accounts.
Placed in category: ECONOMY AND FINANCE

Mystery off-duty pilot aboard Lion Air flight speaks to authorities

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 22:08 - [CET/Central European Time]
Indonesia's safety regulator has interviewed the off-duty pilot who was in the cockpit and helped the crew disable a malfunctioning flight-control system on a Lion Air plane a day before the aircraft crashed.
Placed in category: ECONOMY AND FINANCE

Financial firms could not cut ties to firearms clients under GOP bill

From: AMERICAN BANKER - Thu, 03/21/2019 - 21:51 - [CET/Central European Time]
The bill by Sens. Kevin Cramer, R-N.D., and John Kennedy, R-La., would block banks and credit unions with over $10 billion of assets from refusing service to "customers that may not share the same political values."
Placed in category: ECONOMY AND FINANCE

8@eight: ASX set to jump as Wall Street bounces back

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 21:42 - [CET/Central European Time]
What happened overnight and what's ahead for the ASX.
Placed in category: ECONOMY AND FINANCE

In C&I, a widening gap between small and large banks

From: AMERICAN BANKER - Thu, 03/21/2019 - 21:06 - [CET/Central European Time]
Simple math only partly explains why smaller lenders are adding commercial and industrial loans at a faster clip than their larger counterparts.
Placed in category: ECONOMY AND FINANCE

Malaysian Leader in Pakistan to Sign $900M in Investment Deals 

From: Voice of America -Economy - Thu, 03/21/2019 - 20:55 - [CET/Central European Time]
Malaysian Prime Minister Mahathir Mohamad arrived Thursday in Pakistan on an official three-day visit, where his high-powered delegation is expected to finalize investment deals worth nearly $900 million, officials said.    The Malaysian leader will also be the chief guest at the Pakistan Day military parade Saturday, the Foreign Ministry announced.    Pakistani Prime Minister Imran Khan's adviser on commerce told reporters that business leaders accompanying Mahathir would sign three memorandums of understanding on Friday covering up to $900 million worth of investments in information technology and telecom sectors.   The adviser, Razak Dawood, said the deals with Malaysia would also provide Pakistan a new opening toward membership in the Association of South East Asian Nations. He said Malaysian businessmen had also indicated they would like to invest in other sectors, including energy and textiles, to help Pakistan improve its exports.    Officials said that Malaysia's Proton carmaker signed an agreement late last year with a Pakistani partner to set up an assembly plant in the southern city of Karachi that would be its first facility in South Asia. Khan and his Malaysian counterpart are expected to officiate at a symbolic groundbreaking of the Proton plant Friday. Looking for investors Since taking office last August, Khan has approached nations that have warm relations with Pakistan, including China, Saudi Arabia, the United Arab Emirates, Qatar and Malaysia, to bring investment and financial deposits to help reduce a widening current account deficit and shore up foreign reserves.   Riyadh and Abu Dhabi have deposited or are in the process of depositing $6 billion in loans in recent months. The two countries have also agreed to allow Islamabad to import oil on deferred payments. China is expected to deposit more than $2 billion in the next few days.    Beijing has invested more than $19 billion over the past six years in energy and infrastructure projects under what is known as the China-Pakistan Economic Corridor, as part of its global Belt and Road Initiative.    Last month, Saudi Crown Prince Mohammad bin Salman visited Islamabad and signed investment agreements worth $20 billion, including a $10 billion refinery and petrochemicals complex in the southwestern port city of Gwadar.    Pakistani officials say they are also close to securing a deal with the International Monetary Fund for a bailout package reportedly of up to $12 billion.
Placed in category: ECONOMY AND FINANCE

CFPB announces longer terms, more meetings for advisory boards

From: AMERICAN BANKER - Thu, 03/21/2019 - 20:30 - [CET/Central European Time]
The changes will expand the role of the Consumer Advisory Board and other panels, but stopped short of reversing the downsizing ordered last year by former acting Director Mick Mulvaney.
Placed in category: ECONOMY AND FINANCE

Time for discussions over migration and needs of job market

From: Sydney Morning Herald - Business - Thu, 03/21/2019 - 19:33 - [CET/Central European Time]
University academics Stephen Clibborn and Chris F Wright explore why many migrants work in poor quality jobs.
Placed in category: ECONOMY AND FINANCE

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