Economy

OPEC Says ‘Extraordinary’ Steps Needed for Stable Market in 2018

Oil producers are succeeding in re-balancing an oversupplied market, though they may need to take further steps to sustain the recovery into 2018, OPEC Secretary-General Mohammad Barkindo said. Saudi Arabia and Russia are currently leading consultations between the Organization of Petroleum Exporting Countries and other major suppliers about the future of their agreement to cut… Continue reading OPEC Says ‘Extraordinary’ Steps Needed for Stable Market in 2018

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Economy, Politics

Ex-Goldman Banker Leissner Barred From U.S. Securities Industry

By Michael J Moore Sorce: Bloomberg Tim Leissner, a senior Goldman Sachs Group Inc. banker before leaving the firm in the wake of its work with Malaysia’s embattled investment fund, has been barred from the U.S. securities industry for failing to provide documents to a regulator. The Financial Industry Regulatory Authority issued an indefinite bar… Continue reading Ex-Goldman Banker Leissner Barred From U.S. Securities Industry

Economy

All You Need to Know About Why Things Fell Apart: Michael Lewis

A surprising number of my fellow citizens appear to be unaware of my service these past 18 months as a member of the Financial Crisis Inquiry Commission. Thus it may come as news that I have declined to sign the report issued by the majority, or the dissent by the three- member minority, or even the dissent… Continue reading All You Need to Know About Why Things Fell Apart: Michael Lewis

Economy, Uncategorized

Stocks, Oil Drop on U.S., Europe Growth Concern; Euro Rallies

Global stocks plunged, extending a rout that wiped $5.3 trillion off market value this month, on concern Europe will struggle to contain its debt crisis and the U.S. economic recovery is faltering. Commodities slumped and bond risk surged. The MSCI Asia Pacific Index declined 1.9 percent to 111.33 as of 11:04 a.m. in Tokyo, the lowest… Continue reading Stocks, Oil Drop on U.S., Europe Growth Concern; Euro Rallies

Economy, Uncategorized

China May ‘Crash’ in Next 9 to 12 Months, Faber Says

Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst. The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening… Continue reading China May ‘Crash’ in Next 9 to 12 Months, Faber Says

Economy

China’s Wen Rebuffs Yuan Calls, Opposes ‘Finger Pointing’

Chinese Premier Wen Jiabao rebuffed calls for the yuan to appreciate and said his nation opposed “finger-pointing” on currencies. “I don’t think the yuan is undervalued,” Wen said at a press conference in Beijing marking the end of China’s annual parliamentary meetings. “A stable renminbi exchange rate in the midst of the global financial crisis has… Continue reading China’s Wen Rebuffs Yuan Calls, Opposes ‘Finger Pointing’

Economy

Fed Officials Said Low Rates May Fuel Speculation

Federal Reserve officials said record-low interest ratesmight fuel “excessive” speculation in financial markets and possibly dislodge expectations for low inflation, according to minutes of their meeting released today. “Members noted the possibility that some negative side effects might result from the maintenance of very low short-term interest rates for an extended period,” minutes of the Nov.… Continue reading Fed Officials Said Low Rates May Fuel Speculation