WILMINGTON, Delaware, April 28- Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors, alleges $98...» Read More
The dollar will face months of weakness in the run up to the U.S elections next year, David Bloom, global head of foreign exchange strategy, HSBC told CNBC Tuesday
South Korea diversifies reserves away from the dollar, and Australia's central bank stays pat — it's time for your FX Fix.
As jittery markets pushed the euro below the 1.10 level against the Swiss franc for the first time ever on Tuesday, the headache for the Swiss National Bank (SNB) over its limited options to fight the strong franc is turning into a chronic migraine.
The current low rate of GDP (gross domestic product) growth in the United States indicates that the world's largest economy is headed for another recession, according to Anthony Doyle, Director of Investment Specialists M&G Investments.
So markets finally have a deal on the US debt ceiling, and it has been passed by the House of Representatives, but was all the fighting over how to cut spending really worth it?
Amid signs that the European debt crisis -- which already has seen Greece, Ireland and Portugal seek aid from the European Union and International Monetary Fund -- is now spreading to Italy, analysts at Goldman Sachs are predicting that while painful, debt consolidation will succeed as soaring borrowing costs force governments to act.
As the world waited for news on whether the House would pass the debt ceiling deal on Monday, stocks in Italy came under heavy pressure with the country's banks again seeing heavy losses.
A new round of fiscal warfare is in store for the US over the coming months as a new congressional committee is formed to find extra savings from the most sensitive areas of the budget, the FT reported.
With the debt ceiling crisis looming, we are at risk of losing the momentum America has gained toward energy independence and achieving a cleaner, greener future.
The debt deal's all well and good, but the dollar is still on track to weaken, this strategist says.
The nation’s political leaders agreed on Sunday to spend and invest less money in the American economy, a step that economists said risks the reversal of a faltering recovery, in the hope of improving the nation’s long-term prosperity. The New York Times reports.
Pffffft! Even a deal on the debt ceiling only lifts the dollar briefly - it's time for your FX Fix.
At some point in life, you have to balance the budget, says Donald Trump, Trump Organization chairman/president, who says the debt ceiling deal is more of a down payment and not an effort to balance the nation's budget.
The U.S. should choose to default instead of delaying the inevitable by raising the debt ceiling without dealing with the crux of the financial problems, David Murrin, chief investment officer at Emergent Asset Management told CNBC Monday.
Sunday night's deal that will see the US debt ceiling raised if it passes a vote in the House is merely a "band aid" and certainly not a game changer, according to an assessment from Barclays Capital.
Following the last-minute debt deal agreed by President Barack Obama and congressional leaders, one strategist is predicting the rating agencies should downgrade US debt by two notches.
On a weekend of high drama, President Barack Obama finally managed to get congressional leaders on both sides of the political divide to agree on a compromise plan to raise the debt ceiling and avoid a potentially devastating default.
The UK economy will grow slower in 2011 than previously anticipated – 1.3 percent, compared to forecasts of 1.7 percent – and its 2012 growth will be a "modest" 2.2 percent, according to the Confederation of British Industry (CBI), an influential business organization.
If the rest of the country thinks that Washington has gone mad this summer, that is pretty much the view in this bewildered capital, too. The New York Times reports.