News

Trump ups ante on China, threatens duties on nearly all its imports

ABS-CBN News
Updated as of Sep 09 12:14 PM

U.S. President Donald Trump warned on Friday he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in coming days. Read more »

Hyperinflation: spiralling prices and poverty

Julie Jammot, Agence France-Presse
Posted at Aug 22 07:48 AM

Venezuela today, Zimbabwe a decade ago, before that the rump Yugoslavia, Hungary and Germany. An explanation of hyperinflation where prices soar, banknotes get more zeros, and poverty and hunger spread. Read more »

China loses spot as world's No.2 stock market: Bloomberg

ABS-CBN News
Posted at Aug 03 04:31 PM

Data from Bloomberg News in intra-day trade on Friday showed the value of equities on mainland China had slipped behind those in Japan for the first time since taking the number-two spot in 2014. Read more »

Trump ups ante ahead of G20 discussions on global trade tensions

Barnaby Chesterman, Agence France-Presse
Posted at Jul 21 03:08 PM

US President Donald Trump's latest attacks on China and the European Union will shape the discourse on global trade conflicts and competitive devaluation as Group of 20 finance ministers meet in Buenos Aires this weekend. Read more »

IMF warns of rising risks to global growth as trade tensions loom

Heather Scott, Agence France-Presse
Posted at Jul 17 08:39 AM

The IMF's updated World Economic Outlook forecast global growth of 3.9 percent this year and next, despite sharp downgrades to estimates for Germany, France and Japan. Read more »

Business booming for plastic giants as change beckons

Simon Boehm, Agence France-Presse
Posted at Jul 08 05:46 PM

It's the worst enemy of environmental campaigners, but people around the world use mountains of plastic every day and business is booming for manufacturers. Read more »

Poor countries face $168 billion interest bill due to climate change

Umberto Bacchi, Thomson Reuters Foundation
Posted at Jul 03 08:27 AM

Rice plantations in Vietnam are vulnerable to rising sea levels, while Guatemala's maize output could be hit by drought and tropical storms are a threat to the Barbados tourism industry. Read more »

Mega merger frenzy evokes 1999 tech boom... and its aftermath?

Jamie McGeever, Reuters
Posted at Jun 21 11:41 AM

By some measures, the global merger and acquisition frenzy has never been greater, fueled by "TMT" mega deals that are drawing comparisons with the late 1990s boom and spectacular bust.   Read more »

US hopes to narrow wide gap in China trade talks

Agence France-Presse
Posted at May 11 05:26 AM

US Commerce Secretary Wilbur Ross said he hopes to reduce large differences with China in trade talks where hundreds of billions of dollars in commerce are at stake. Read more »

Dollar 'most important' currency in ' foreseeable future,' says ADB head

ABS-CBN News
Posted at May 03 12:13 PM

The US dollar will be the "most important key currency for the foreseeable future" even as China pushes for the internationalization of the yuan, the head of the Asian Development Bank said Thursday. Read more »

IMF warns of risks as central banks tighten

Agence France Presse
Posted at Apr 18 10:03 PM

The International Monetary Fund urged central banks Wednesday to take a gradual and transparent approach to tightening monetary policy, warning that unexpected moves could shock the global economy. Read more »

Crypto assets don't pose immediate risk, says world body

Agence France-Presse
Posted at Mar 19 07:18 AM

Virtual currencies and so-called crypto assets do not, yet, pose a systemic risk, the body which makes recommendations about the financial system said in a study released Sunday. Read more »

10 years after meltdown, US banks may have already seen biggest gains

Sinead Carew and Noel Randewich, Reuters
Posted at Mar 16 02:23 PM

Ten years after JPMorgan bought failing investment bank Bear Stearns, one of the first big harbingers of the financial crisis, investor views on US banks are significantly brighter, although the sector may have already put its biggest gains behind it. Read more »

World's central banks cautioned on cryptocurrency risks

Agence France-Presse
Posted at Mar 13 08:41 AM

The creation of digital currencies, like bitcoin, by central banks could revolutionize the global financial system but also carries significant fraud risks, the Bank for International Settlements warned on Monday.   Read more »

Keep calm and carry on with rate hikes, central banks urged

Reuters
Posted at Mar 12 07:34 AM

The recent volatility in global financial markets should not deter top central banks from lifting interest rates or ending years of unprecedented stimulus, the Bank for International Settlements said on Sunday. Read more »

Asia-Pacific nations sign sweeping trade deal without US

Dave Sherwood and Felipe Iturrieta, Reuters
Posted at Mar 09 08:39 AM

Eleven countries including Japan and Canada signed a landmark Asia-Pacific trade agreement without the United States on Thursday in what one minister called a powerful signal against protectionism and trade wars. Read more »

IMF chief says growth strong but countries must prepare for change

David Lawder, Reuters
Posted at Feb 27 04:31 PM

International Monetary Fund Managing Director Christine Lagarde said on Tuesday the global economy was showing broad-based growth, but the landscape was shifting with heightened risks of trade disputes, monetary policy normalization and technological change. Read more »

Global markets seeing 'necessary corrections': IMF chief

Agence France-Presse
Updated as of Sep 08 11:21 PM

The latest volatility in global financial markets represents "necessary corrections," IMF chief Christine Lagarde said in Dubai on Sunday, in the wake of a Wall Street plunge. Read more »

Trump touts 'America First' to skeptical Davos elite

Roland Lloyd Parry and Jitendra Joshi, Agence France-Presse
Posted at Jan 26 08:34 AM

President Donald Trump strode into the lion's den to confront the world's political and business elite on Thursday, as his "America First" administration executes an anti-globalist manifesto in trade, taxes and currency rates. Read more »

World's richest made 80 pct of wealth created in 2017: Oxfam

Agence France-Presse
Posted at Jan 22 10:25 AM

The world's richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world's elite prepared to mingle at the World Economic Forum in Davos. Read more »