The euro has been strengthening of late. Jane Foley, senior currency strategist at Rabobank, explains why to capital markets editor Ralph Atkins, and discusses whether central bank actions are leading to currency wars.
German business sentiment fell for the fourth straight month in August, the Ifo Institute said Monday, tumbling to its lowest level since March 2010. The business climate cooled down considerably in both retailing and wholesaling, said Ifo, which surveys about 7,000 German businesses to arrive at its monthly figures
Perth residents trooped to shopping malls and other retail outlets on Sunday for the first time as Western Australia's amended Sunday trading laws took effect on Aug 26. With the amendment, stores in the city are allowed to open from 11 a.m
The rupee weakened on Friday on worsening global risk sentiment, but posted its first weekly gain against the dollar in more than two months as the local currency recovers from oversold conditions. The rupee has recovered since hitting a string of record lows last month, with the latest hit on May 31 when it dropped to 56.52 to the dollar, marking what so far has been a near-term bottom for the local currency
The Bank of England on Friday asked banks not to dole out lavish bonuses to its employees this year considering the current tight capital situation in many of the banks. Capital of British banks was not yet at levels that would ensure resilience in the face of the prospective risks, according to the BoE and it asked the banks to continue to restrain cash distributions this year.
Below are other entries on the economic calendar: Monday 7:00 a.m. - Philadelphia Fed President Charles Plosser (non-voter) speaks on monetary policy at Global Interdependence Center conference in Paris. 8:00 a.m
Watchdog says UK Banks are well-capitalised, but need to raise more Britain's banks have been given a stark warning today from the Bank of England's Financial Policy Committee Friday after it called on the country's biggest lenders to raise more capital to protects savers - and the overall banking system - in the event of a global economic recession.
Unleaded petrol prices in the UK have hit a new high, at 140.2p a litre (Reuters) The cost of a litre of unleaded petrol in the UK has hit a new record, according to research by Experian Catalist, as oil prices soar ever higher. Motorists and businesses across the country are having their finances hit hard by the constant rise in their vehicle fuel bills and there is a scheduled 3p rise in fuel duty this summer
Goldman Sachs Group Inc has stated that it posted a net loss of $103 million in Asia for the year 2011, compared with a $2.1 billion profit in 2010. Its holdings in the Industrial & Commercial Bank of China (ICBC) generated a loss of $517 million, compared with a $747 million profit a year earlier. The ICBC, the world's fifth-biggest company by market value, was acquired by Goldman in 2006
Yahoo Inc is planning to undergo a major restructuring of the company, which will include lay-off of many employees. Going by a report in the Wall Street Journal's All Things Digital blog, the internet giant is getting ready to lay off thousands of workers