Turkey’s lira fell dramatically on Monday morning after President Recep Tayyip Erdogan fired the country’s central bank chief — the third to be fired in two years — sending shockwaves through the investor community. The currency plunged more than 16% in early morning Asian trading, according to analysts, hitting 8.4 against the dollar compared to […] Read more
European banks have seemingly weathered the coronavirus crisis well, but there are still some major challenges ahead that have the potential to rattle the sector. There’s been a noticeable difference between the pandemic and the global financial crisis of 2008: European banks have a much stronger capital position now than they did before. This is in part […] Read more
A decline in new Covid infections, along with improving economic data and stimulus hopes, could boost stocks that flourish in a resurging economy in the week ahead. In the past week, expectations for a strong economic rebound helped boost interest rates. While the broader stock market was choppy, sectors that do well in a rebound – […] Read more
Bitcoin could be headed for a breather in the new year. The red-hot cryptocurrency continued its longest monthly win streak in more than a year on Monday after grazing a new all-time above the $28,000 mark on Sunday. Based on the charts, that run might be put on pause come 2021, Mark Newton, founder and president […] Read more
Fitch Ratings raised its forecast this week for China’s economic growth next year, based on increased domestic demand and expectations for coronavirus vaccine deployment. Fitch now expects China’s gross domestic product to expand 8% in 2021, up from the 7.7% rate forecast in September. “This would be well above our estimate of China’s long-term growth […] Read more
The current health and economic crisis has impacted both life and work in many ways. Chief among those impacts has been the stunning amount of business closures. Any crisis can potentially tank a local economy, causing serious financial and social distress for the members of that community. The ripple effects can impact consumers, other businesses and even local officials, causing even […] Read more
The U.K. government believes “significant differences” still remain with the EU, as the two sides make a final push to clinch a post-Brexit trade deal. Talks are ongoing in Brussels on Monday afternoon, but both sides remain divided over three issues: fisheries, competition rules and governance of their potential deal. They have been stuck on […] Read more
Data giant S&P Global has agreed to buy IHS Markit in a deal worth $44 billion that will be 2020′s biggest merger, creating a heavyweight in the increasingly competitive market in financial information. The mega-deal, which includes $4.8 billion of debt, is a sign that deal-making activity is accelerating as breakthroughs in developing Covid-19 vaccines improve the economic outlook. […] Read more
Deutsche Bank upgraded its global growth outlook for 2021 but cautioned that two key risks could still spoil the economic recovery from the coronavirus crisis. In the bank’s latest report out Wednesday — entitled “Hope on the horizon” — Deutsche Bank researchers updated their calls due to what it called “the incredibly positive” coronavirus vaccine news […] Read more
Despite the upturn in the global economic outlook following multiple coronavirus vaccine breakthroughs, gold’s bullish cycle will continue, according to analysts at Citi and Goldman Sachs. The traditional safe haven asset hit an all-time high in August of $2,074.88 per ounce, amid fears that the coronavirus crisis looked set to continue indefinitely. However, demand for the […] Read more
