Once upon a time, the foreign exchange (FX) markets enjoyed a clear framework for trading and were seen as a reflection of the health of global economies. But as central bank programs of quantitative easing have been introduced, currency market trades are not so clear cut, according to analysts at HSBC.
The differences in approach could not be more distinct — or telling. Fresh austerity measures were announced last week by Prime Minister Mariano Rajoy of Spain. Two of the most economically distraught countries in the euro zone, Greece and Spain, mapped out additional budget cuts last week, the New York Times reports.
Contrary to popular belief, bankers and politicians are not to blame for the financial crisis. Rather, it’s systemic flaws in the very nature of democracy that allowed financial imbalances to take root.
The London real estate market was abuzz. A wealthy Greek banker wanted to spend up to £60 million (nearly $100 million) for a home, and was in a hurry to make a deal. Evangelos Meimarakis, the president of the Greek Parliament, is among the more than 30 Greek politicians under investigation for possible tax evasion and the illegal accumulation of wealth, the New York Times reports.
Australia may be gripped by fears its mining boom is ending, but HSBC believes extraction industries will continue to power the Australian economy
European Central Bank President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work.
The listing of Russia’ largest bank Sberbank on the London Stock Exchange, raising some $5 billion, is just the beginning of a wider trend and shows how Russian state-owned businesses are increasingly turning towards privatization, Anton Karamzin, deputy chairman and CFO of Sberbank, told CNBC.
The world's second-wealthiest man explains to CNBC why workers in Europe and other parts of the developed world are at the "best" part of their career after they reach their 60s.
Tuesday, 18 Jun 2013 | 10:00 AM ETViolent protests broke out in eight Brazilian cities last night, with the worst violence occurring in Rio de Janeiro. Thousands of protesters threw Molotov cocktails and anything else they could find. The protests began over a 10-cent increase in bus and subway fares.
Tuesday, 18 Jun 2013 | 11:05 AM ETFBI Deputy Director Sean Joyce describes how NSA surveillance helped to detect and thwart a plot to bomb the NYSE.