Year: 2019

(Bloomberg) — Federal Reserve Bank of Kansas City President Esther George said she dissented against rate cuts at the past two policy meetings because the U.S. economy is currently doing well, but she would be prepared to support a further reduction should she see evidence of a sharper slowing of growth.“The moderation of economic growth in 2019 has been in line with my own outlook that calls for a gradual decline to a trend level over the medium term,” George said according to remarks prepared for delivery Sunday at a National Association for Business Economics meeting in Denver. “Should incoming …read more […]

(Bloomberg) — The yen edged up and yuan slipped in early trading Monday after a report that China may be increasingly reluctant to agree to a broad trade deal ahead of talks with the U.S. this week.Japanese futures pared gains stemming from a solid close on Wall Street Friday. Trading in the region may be muted with Hong Kong and Chinese markets shut and Sydney on holiday. Senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably, according to people familiar with the matter. U.S. stocks closed higher Friday, along with Treasuries, after solid …read more […]

Hot air balloons at the annual Albuquerque International Balloon Fiesta took flight on day two of the nine-day long event. There was no official balloon launch on Saturday, opening day, because of heavy fog. (Oct 6) …read more […]

(Bloomberg) — How much lower can India’s central bank drive interest rates after delivering five back-to-back cuts? By as much as 65 basis points, say some economists.The Monetary Policy Committee can possibly cut rates by another 40-65 basis points, which will take the benchmark repurchase rate below the 4.75% level seen during the global financial crisis, according to economists, including Anand Rathi Financial Services Ltd.s’ Sujan Hajra. So entrenched is India’s growth slowdown that it may require the rate to be cut to as low as 4.5% for any meaningful impact.“We now expect that rather than 5%, the repo rate …read more […]

HSBC Holdings Plc is planning to cut up to 10,000 jobs as interim Chief Executive Officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday. HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month, the FT said, citing one person briefed on the matter. Flint’s exit was a result of differences of opinion with chairman Mark Tucker over topics including approaches to cutting expenses, a person familiar with the matter told Reuters in August. …read more […]

Here are the top stories for Sunday, October 6th: Second whistleblower comes forward in Trump investigation; Police search for two men in quadruple homicide; Astronauts hustle through first of five spacewalks; Thousands attend balloon festival. …read more […]

ReepPop organizes the biggest comic cons in the world. This is how the pop culture giant organizes NYCC. …read more […]

(Bloomberg) — HSBC Holdings Plc is embarking on a cost-cutting drive that threatens as many as 10,000 jobs, the Financial Times reported, citing two people briefed on the matter.The bank, one of several European lenders eliminating roles, is questioning why it has so many people in Europe when it has double-digit returns in parts of Asia, one of the people told the paper. The job cuts — on top of the 4,700 redundancies announced earlier — could be announced when HSBC reports its third-quarter results later this month, according to the FT. An HSBC spokesman declined to comment on the …read more […]

As if the recent drop in oil prices wasn’t bad enough, shale drillers are now facing the negative impact of credit re-determinations …read more […]

By trading oil using its own currency, ISIS planned to destabilize the US economy by forcibly decoupling the dollar from the oil business. …read more […]

HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month, the FT said, citing one person briefed on the matter. Flint’s exit was a result of differences of opinion with chairman Mark Tucker over topics including approaches to cutting expenses, a person familiar with the matter told Reuters in August. HSBC declined to comment. …read more […]

HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month, the FT said, citing one person briefed on the matter. Flint’s exit was a result of differences of opinion with chairman Mark Tucker over topics including approaches to cutting expenses, a person familiar with the matter told Reuters in August. HSBC declined to comment. …read more […]

The future of MBS may well be decided in the next couple of months, with Saudi relations with Washington looking very strained and geopolitical tensions rising in the region …read more […]