Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
Asian cities are on the rise and are dominant in the Fintech space.Financeread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
Veteran emerging markets investor, Mark Mobius has offered words of support to Greece's controversial plans to restructure its debt, adding that the long-term investment outlook for the country is good -- particularly in its banking sector.
The fund manager, widely known for his $3.3 billion emerging markets investment trust, said the current events have not resulted in any changes to his investment strategy.
Mobius, the executive chairman of Templeton Emerging Markets Group, backed the new Greek government's attempts to have its debt mountain written down by its European creditors, saying it was the "correct path", and predicted the impact on global markets as a result of discussions would be minimal.
"What is needed, in our view, is more investment and a path toward recovery. To achieve that, we believe the new government's emphasis on easing the pain to the ordinary Greek citizen is the correct path," he said.
"Also, we think its emphasis on renegotiation of the stringent terms imposed on the country would be positive in terms of injecting more optimism," he added.
Germany is seen as the strongest opponent among the euro zone countries to any reduction of Greece's 323 billion euro ($369 billion) debt – a key part of the left-wing, anti-austerity Syriza's winning campaign in the general election last month.
The European Central Bank (ECB) also toughened its stance with Greece by restricting financing to the country's banks late Wednesday, sending shares in Greek lenders sharply lower Thursday.
"At this time, we don't plan any changes to our investment strategy as a result of the vote, but we will be watching developments closely. As always, we'll be looking for potential values that may surface in emerging Europe," Mobius said in an investment update Thursday.
"We believe the long-term investment outlook for Greece is good. Greek stocks are generally not overvalued at this time based on our research, although there are significant differences in valuations. Greek banks look particularly attractive to us, if we assume a long-term recovery of the Greek economy," he added.
In a statement on Wednesday, the ECB said it would no longer accept Greek government bonds as collateral for lending money to commercial banks. The move makes access to cash more expensive for Greece's banks.
Mobius said Greece's ability to renegotiate both the debt arrangements and conditions with the troika of the European Commission, the ECB and the International Monetary Fund will "likely prove extremely challenging."
"February 28 will mark a key milestone; it's the day Greece's financial bailout is due to expire. It remains to be seen if Greece can negotiate an extension or some other measure to avoid default and allow Greek banks to continue to access ECB liquidity," he added.