Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
Wall Street banks may be catching a break as regulators rework a rule that restricts their ability to invest their own money, Bloomberg reported Tuesday.
Regulators are trying to make it easier for banks to trade securities using their own funds by reworking the so-called Volcker Rule, a centerpiece of legislation from the post-financial crisis bank crackdown, people familiar with the matter told Bloomberg.
The Volcker Rule, named after former Fed Chairman Paul Volcker, who originally proposed the regulation and enacted under the Dodd-Frank Wall Street Reform and Protection Act, prevented banks from investing their own money in hedge funds and private equity funds.
The overhaul, led by a group of agencies and the Federal Reserve, could happen as soon as next week, the report said.
The regulators are changing the definition of proprietary trading, which is when financial firms make direct investments for direct market gain instead of investing on behalf of clients.
The original proposal to remove the rule was bought up in May 2018, but the group is now withdrawing the "accounting prong," that decided which type of trading was allowed by banks. The accounting prong received backlash from bank lobbyist, the report said.
Banks are being hit hard by an escalating U.S.-China trade war and low interest rates at home and around the globe. Most of the major Wall Street banks narrowly beat on earnings this quarter, but uncertainty on trade and economic growth has pushed interest rates down, pressuring net interest margins, the difference between what banks pay on deposits and earn on loans.
The final edits to the proposal need to be approved by the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Securities and Exchange Commission and Commodity Futures Trading Commission.
— Read the full Bloomberg article here.