Year: 2020

(Bloomberg) — There’s no end of theories on all the ways in which negative interest rates are hurting economies. But in Denmark, where the policy has existed longer than anywhere else, one fear seems to have been put to rest.The central bank in Copenhagen, which uses negative rates to keep the krone pegged to the euro, says its research shows that the number of so-called zombie firms has fallen amid record monetary stimulus. That goes against the conventional wisdom, which assumes that unnaturally low borrowing costs prop up companies that would collapse in more normal times.“The risk of remaining a …read more […]

French Economy Minister Bruno Le Maire on Monday warned the United States against any retaliation to France’s new digital services tax. “If the Americans decide to go ahead and impose sanctions against the digital tax … in this case we would retaliate,” Le Maire told France Inter radio. “If there were to be sanctions, and it is a possibility that we will take sanctions, we would immediately contact the WTO (World Trade Organization)”, he added. …read more […]

(Bloomberg) — European leaders are battling to come up with a response to the escalating tensions between Iran and the U.S. with their Middle East strategy shredded and the nuclear deal dead in all but name.As French President Emmanuel Macron worked the phones, German Foreign Minister Heiko Maas on Sunday called for a meeting with his European Union counterparts to be brought forward to this week.The killing of Qassem Soleimani — one of Iran’s top commanders and the country’s second-most-powerful figure after Ayatollah Ali Khamenei — was more than just a shock for the EU: It was a disaster. The …read more […]

(Bloomberg) — China pledged to step up measures to shore up its troubled banks and small businesses while continuing a crackdown on shadow banking and property speculation, in a difficult balancing act that risks exacerbating a build up in bad debt at its traditional lenders.As concerns mount over the state of China’s $45 trillion financial system, the nation’s central bank and its top financial regulator used the year’s first weekend to unveil fresh details on how to combat risks amid the slowest economic expansion in three decades.The People’s Bank of China, which has been reluctant to prime the stimulus pumps …read more […]

President Trump warned Iran about additional sanctions if U.S. forces are expelled. …read more […]

Gold prices in India jumped over 2% on Monday to record levels amid a rush to invest in safe-haven assets globally as well as a steep fall in the rupee, dampening demand for the precious metal in the world’s second-biggest consumer. Local gold futures hit an all-time high of 41,096 rupees ($570.05) per 10 grams, taking their gains to more than 5% in 2020 after rallying nearly 25% in 2019. The sharp gold price rise has been deterring jewellers and retail buyers from making purchases, said Mukesh Kothari, director at dealer RiddiSiddhi Bullions in Mumbai. …read more […]

If you take a delayed United Airlines flight and want compensation for your troubles, you may need to ask for it. United is no longer proactively offering voucers to customers on flights delayed fewer than six hours, according to a message sent to employees. The airline said it was making the change “based on feedback […] …read more […]

Little Caesars Enterprises Inc will partner with DoorDash Inc to provide pizza delivery services at 3,600 restaurants in the United States and Canada, starting on Monday, DoorDash said. While pizza restaurants helped pioneer the idea of delivering food to people’s houses years ago, Little Caesars – the world’s third-largest pizza chain – has not offered delivery until now. Little Caesars will not be listed on the DoorDash platform as a participating restaurant. …read more […]

The U.S. stock market’s relentless drive higher has caused some nail-biting on Wall Street that the rally is about to end. Geopolitical risks – such as the latest escalation of U.S. tensions with Iran – are just one on a list of worries for 2020. Stocks ended 2019 with their best year since 2013, with the benchmark S&P 500 rising nearly 29%. …read more […]

(Bloomberg) — Soon after he became president of the Philippines in 2016, Rodrigo Duterte ordered government officials “to refrain from changing and bending the rules of government contracts.”Halfway through his six-year term, Duterte’s commitment is under question. In December, the firebrand leader ordered the renegotiation of long-agreed contracts for Manila Water Co. and Maynilad Water Services Inc. to supply the capital until 2037. He also said his government will not pay billions of pesos to Manila Water for delayed tariff increases as ordered by a court, while threatening to jail owners of both water providers.Stock Rout Hits $2.4 Billion on …read more […]