China may soon have a rust belt of its own. Chinese officials announced plans to lay off roughly 1.8 million workers in the coal and steel industries, as part of president Xi Jinping’s politically difficult effort to restructure the world’s...
The agreement is a victory for the country’s new president. For more than 14 years Elliott Management, the hedge fund led by Paul Singer, was the pantomime villain in Argentina’s dispute with its bondholders. Rather than accepting a big write-down,...
The U.S. dollar's retreat spells relief for multinationals. For a year and a half, the two most commonly cited headwinds facing blue-chip U.S. companies have been low oil prices and a soaring currency. While the first has yet to fully dissipate, foreign exchange...
Bank governor dismisses setting negative interest rates even in the event of an economic downturn. The Bank of England could cut interest rates to zero, but will seek to avoid following Sweden, Denmark and the eurozone by setting negative rates...
Following another round of financial market turbulence, fed fund futures contracts don't see the Federal Reserve raising rates until at least February 2018 and in fact are pricing in a small likelihood of a rate cut. Diminished expectations for rates...
Global central banks have opened the door to negative U.S. interest rates, in Wall Street’s view. After the Bank of Japan cut some rates below zero last month to spur growth and inflation, strategists are weighing the Federal Reserve’s options...
China’s foreign-exchange reserves shrank to the smallest since 2012, indicating that the central bank sold dollars as the yuan’s retreat to a five-year low exacerbated depreciation pressure. The world’s largest currency hoard decreased by $99.5 billion in January to $3.23...
On February 1st, the day that Ted Cruz defeated Donald Trump in the Republican caucus in Iowa, Google’s parent company, Alphabet, won a contest of its own, vaulting past its longtime rival, Apple, to become the most valuable listed company...
Married couples can often claim twice the retirement savings tax breaks of single people. Couples can also strategically save in their respective workplace retirement accounts to get the best possible employer contributions and investment options. Here's how to maximize the...
In a surprise move, the Bank of Japan has introduced a negative interest rate. The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits. It is designed to encourage them to...
Along with bank runs and market crashes, oil shocks have rare power to set monsters loose. Starting with the Arab oil embargo of 1973, people have learnt that sudden surges in the price of oil cause economic havoc. Conversely, when...
It was once taboo to say that China could be a deflationary force, dragging the world into a slowdown as its own economy modernized. Serious economists and investors pooh-poohed the idea, saying that China's economy just didn't have that kind...
Karen Chou, a 32-year-old bank worker in Beijing, had a New Year’s resolution: sell yuan, buy dollars. “I’m not optimistic about China’s economy,” she said, after rushing to exchange some of her savings for U.S. currency as part of heightened demand...
Pressured by plunging oil prices and costly wars in the Middle East, Saudi Arabia moved to stamp out speculation that it might be forced to break the link between its currency and the dollar. Authorities this week ordered banks to...
A high-profile Bitcoin developer has said the crypto-currency has failed and he will no longer take part in its development. Mike Hearn, a Zurich-based developer and long-time proponent of Bitcoin, surprised many this weekend when he published a blog calling...
