"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
Crucially, the bank also noted that the program could be extended again if necessary.
The ECB has been running its bond buying at a pace of 60 billion euros ($70 billion) per month as the central bank attempted to stoke growth and inflation among euro zone member countries. The central bank announced Thursday that the bank will now extend the program from January at a pace of 30 billion euros until at least September 2018.
Shortly after 10.00 a.m. New York time the euro was down 0.76 percent for the session. It has since fallen further to sit around one percent lower.
Carsten Brzeski, a chief economist at ING, said in a note that the central bank had announced a "gentle exit" from its quantitative easing (QE) program. The economist explained that the ECB wants to start the exit as cautiously as possible, without seeing the euro appreciate or bond yields increase.
Brzeski noted that the ECB will continue to re-invest the proceeds it gets from buying debt and had reaffirmed that interest rate levels would not move until well after the end of its asset purchase program.
European economist at Capital Economics, Jessica Hinds, said the fact that the ECB did not announce a definitive end date to its asset-purchase program was contrary to some expectations.
Hinds added that with no certainty over when the ECB's bond buying would end, interest rates for the euro zone were likely to stay on hold until at least March 2019.
Analysts at Citi Research said in a note earlier this month that the ECB's aim is to taper the asset purchase program without causing a "market tantrum." Citi concluded that the neutral level of quantitative easing (QE) that the ECB could introduce while maintaining market calm was around 250 billion euros in total.
Citi added that the size of the monthly purchases would provide a signal to investors on whether QE is most likely to come to a hard stop or be open to continuation.
"For example, 20 billion euros per month would imply that QE could immediately end once the extension is complete. In contrast, 40 billion euros per month is far more likely to require a further taper," said the note.