Update (1230ET): On the heels of JPMorgan's decision to begin its resilience plan, a number of the rest of US' majors have also started their own contingency plans:
Albert Einstein is rumored to have said that "Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it."
The World Bank announced Tuesday afternoon that it would fund an initial $12 billion in financing to combat the Covid-19 outbreak that is threatening to plunge the global economy into recession. The virus has now spread to 60 countries, infecting mor
Australia's Central Bank cut interest rates and stated it will most likely further ease in order to make up for China's Coronavirus situation and slowdown. They reduced to 0.5%, a record low. Other countries are doing the same thing, if not more
While over the past 24 hours, the US Federal Reserve appears to have gotten cold feet about intervening in the market and/or cutting rates, its Japanese peer had no such misgivings.
Democrat Michael Bloomberg has been caught saying he will drone those who disagree with him and protect the big banks. The hypocritical guy who backs and funds his own anti-gun campaign now wants the power to drone his critics.
2019 was a remarkable year: the S&P's total return was over 30% even as S&P earnings for the year actually fell. Well, according to Goldman, 2020 is set to be similarly as remarkable, because in a note released overnight, Goldman's David Kostin write
With the Dow Jones entering a correction just 6 trading days after it hit an all time high, the market which has no idea how to trade in a down tape, is freaking out and predictably has spawned a rumor that an emergency rate cut is imminent, a rumor
In the first part of this article we traced the development of the 'Utility Settlement Coin' ?" a project that began in 2015 and which has now evolved through the inception of a consortium called Fnality International.
Wells Fargo has agreed to pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges.
Back in 2014 the Bank of England became the first central bank to publish research on digital currencies through their quarterly bulletin (Innovations in payment technologies and the emergence of digital currencies).
Investment bankers and M&A lawyers told the Financial Times that the number of acquisitions and IPOs in China has plummeted since the virus outbreak began in early January.
In a little noticed post back in November, we reported that as part of a stress test conducted by China's central bank in the first half of 2019, 30 medium- and large-sized banks were tested;
"The Federal Reserve is running the risk of fomenting an eventual financial crisis by easing banking regulations at the same time that it's cut interest rates…"