IMF Will Continue to Work with Government to Stabilize Economy

The International Monetary Fund is continuing talks with Argentina as authorities there try to stem spiraling economic problems in Latin America’s third-largest economy, IMF spokesman Gerry Rice told reporters on Thursday. He said senior Argentine and IMF officials would meet in Washington later this month, noting that complex market conditions and policy uncertainty made the […]

What is Next for Brexit?

With the U.K Parliament now shuttered for five weeks and the recent political turmoil throwing up more questions than answers, analysts have been busy contemplating what could happen next in Britain as it approaches its Brexit deadline. The shutdown of Parliament — known as prorogation — will see lawmakers reconvene on October 14. The suspension […]

Ireland is Sceptical of UK's Brexit Strategy

Ireland’s finance minister warned that the country’s government remains “highly skeptical” about proposals advocated by Britain’s prime minister to avoid the need for infrastructure on the U.K.’s border with Ireland after Brexit. U.K. premier Boris Johnson had visited Dublin Monday for talks with his Irish counterpart, Leo Varadkar, and insisted that trusted trader schemes and […]

UK Prime Minister Loses Snap Election But Fights Back Against Brexit Extension

U.K. Prime Minister Boris Johnson has lost a second bid to hold a snap election, making it more likely that he will have to ask the EU for an extension to the current Brexit deadline. Only 293 out of 650 lawmakers in the lower house of parliament supported the government’s proposal — falling short of […]

Moody's Downgrades Ford's Credit Rating to Junk

Moody’s Investors Service has downgraded Ford’s credit rating to junk status. The service says it expects weak earnings and cash generation as Ford pursues a costly and lengthy restructuring plan. Ford responded with a statement saying that its underlying business is strong and its balance sheet is solid. The rating for Ford’s senior unsecured notes […]

Bond Yield Rise Ahead of ECB Decision on Thursday

Global bond yields rose on Tuesday, amid growing caution over the extent to which the European Central Bank will add stimulus to boost an ailing economy this week and rising hopes that Berlin could loosen its purse strings. Germany’s 30-year benchmark bond yield DE30YT=RR briefly broke into positive territory for the first time in more […]

US Equities Drop as ISM Signals a Contraction in August

U.S. stocks fell on Tuesday as data showed factory activity shrank for the first time since 2016 in August, renewing fears that a drawn-out trade war between the United States and China could tip the world’s largest economy into recession. The Institute for Supply Management said its index of national factory activity dropped to 49.1, […]

Dollar Falls After US Manufacturing Activity Contracts

U.S. manufacturing activity contracted for the first time in three years in August, with new orders and hiring declining sharply as trade tensions weighed on business confidence, raising financial market fears of a recession. Concerns about the economy, which is in its longest expansion ever, were also exacerbated by other data on Tuesday showing construction […]

BofA Says High Correlation Between Number of Trump Tweets and Stock Market Falls

If President Donald Trump wants to keep his strong stock market gains, he may want to stay off Twitter. Days when Trump tweets a lot are associated with negative stock market returns, Bank of America Merrill Lynch said Tuesday in a report. The brokerage’s chief equity strategist, Savita Subramanian, wrote in a note that “since […]

Oil Rises on Soft Dollar and Strong China Services Sector

Oil prices rose nearly 3% on Wednesday, boosted by a wider market pickup on positive news from China’s services sector, after three days of losses due to fears about a weakening global economy. Brent crude LCOc1 was up $1.55, or 2.66%, at $59.81 a barrel by 1401 GMT, while U.S. West Texas Intermediate futures CLc1 […]