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HSBC Going Solo in China Credit Cards Boosts Expansion Plan
March 10th, 2016
Bank has ended card venture with Bocom, Asia head says HSBC would be just one of three foreign card issuers in China HSBC Holdings Plc winning approval to start a credit-card business in China’s $1 trillion market offers Chief ...
FOREX-Euro pressured ahead of ECB, kiwi skids on RBNZ rate cut
March 10th, 2016
RBNZ surprises with interest rate cut, signals more easing Euro slips amid expectations of further ECB easing steps Loonie firms after Bank of Canada holds pat on policy The euro was under pressure in Asian trade on Thursday ahead ...
China And Fracking: The Pillars Of “The Recovery” Are Crumbling
March 10th, 2016
When historians sort out this era of once-a-decade financial bubbles, they’ll marvel at how dissimilar the drivers of each boom were. The junk bonds of the 1980s were essentially leveraged tools for extracting wealth from companies. The dot-coms of ...
Asia markets mixed as traders digest central bank decisions, China data
March 10th, 2016
Asian markets traded mixed as traders digested another round of Chinese economic data and interest rate decisions from central banks in New Zealand and South Korea. The Japanese Nikkei 225 was up 1.45 percent. South Korea’s Kospiadded 0.82 percent, while Down Under, ...
IMF urges action as risks to the world economy rise
March 9th, 2016
Collective action is needed to boost the global economy, with volatile financial markets and low commodity prices creating fresh concerns about its health, the first deputy managing director of the International Monetary Fund (IMF) said on Tuesday. In a ...
Mizuho Bank and Fujitsu Trial Blockchain to Streamline Cross-Border Securities Transaction Settlements
March 9th, 2016
Mizuho Bank, Ltd., Fujitsu Limited, and Fujitsu Laboratories Ltd. today announced that they have jointly conducted an operational trial using blockchain technology (*1), which makes it practically impossible to tamper with transaction histories, to shorten the processing time for ...
Asia trades lower, with Shanghai off 2.9%, Nikkei lower by 1.3%
March 9th, 2016
Most Asian markets stumbled Wednesday, with China shares dropping sharply, as analysts pointed to renewed concerns about the mainland’s economy following lower-than-expected trade data for February. The Shanghai composite dropped 2.9 percent, while the Shenzhen composite fell 2.22 percent. Elsewhere, the Japanese benchmark Nikkei ...
Bob Moritz selected Global Chairman of PwC
March 8th, 2016
The PricewaterhouseCoopers International Network has selected Robert E. Moritz as its new chairman for a four-year term beginning on July 1, 2016. Since 2009, Mr. Moritz has led PwC US as its chairman and senior partner. During his tenure, ...
Asia markets lower, ASX down 0.7%, Shanghai down 1.7%
March 8th, 2016
Markets in Asia lost ground Tuesday, stepping back from their recent rally as traders digested the weak China trade data. Angus Nicholson, a market analyst at IG, told CNBC a lot of the recent rally in stocks has been ...
Economists warn of risks from negative interest rates
March 7th, 2016
Economists at a key central bank organization are warning of potential risks from the negative interest rates in place in Europe and Japan. Central banks in the eurozone, Denmark, Japan, Sweden and Switzerland have all taken rates below zero and ...
