to $40 a barrel is rippling through equity and bond markets, reigniting concerns about deeply indebted companies and countries reliant on commodities. “Should oil slice through $40 towards $35, macroeconomic fears will pick up,” said Michael Hartnett, chief investment strategist at Merrill Lynch. Before the sharp drop in crude this week, investment in some of the riskiest areas of financial markets had been gathering pace, as central bank stimulus programs pushed equities to record highs and yields in safer areas of the market to new lows.
is not ruling out a rate increase at the U.S. central bank’s next meeting in September, saying “at this point… we just have to wait and see how the data comes in.” He also expressed concern about what he called lofty asset valuations in the financial markets. “At the moment I would say they particularly deserve watching because they are relatively buoyant or relatively high.”
the Nikkei fell close to 2% today, on lingering disappointment that it did not include more direct government spending which could give an immediate boost to economic growth. Meanwhile, minutes from the BOJ’s June meeting showed uncertainty over the actions being pursued by the central bank, highlighting doubts about the sustainability of its policies.
to move ahead with the Trans-Pacific Partnership while he’s in office despite diminished support on Capitol Hill and outright opposition from both of his potential successors – Hillary Clinton and Donald Trump. “Right now I’m president, and I’m for it,” he said at a press conference. “I’ve made this argument before. I’ll make it again. We are part of a global economy. We’re not reversing that.”
what kind of strategic partners are we, that you can still host someone whose extradition I have asked for?” Turkish President Tayyip Erdogan said regarding cleric Fethullah Gulen, whom he claims masterminded last month’s bloody putsch. “This coup attempt has actors inside Turkey, but its script was written outside. Unfortunately the West is supporting terrorism and stands by coup plotters.”
of cash to Iran, with the payment coinciding with the January release of four Americans held in Tehran, the WSJ reported, citing officials briefed on the covert operation. The money has been portrayed as ransom payment by the Iranian press, although senior U.S. authorities noted the cash was the first installment of a $1.7B decades-old failed arms settlement and didn’t represent any quid pro quo.
has fallen for the first time into Japan’s exclusive economic zone, drawing strong condemnation from the government in Tokyo. “This is a serious threat to our country’s security,” Prime Minister Shinzo Abe told reporters. “We have made a strong protest to North Korea.” The missile, believed to be an intermediate-range Rodong type, landed in waters about 150 miles from Japan’s coastline.
today on a much-awaited Goods and Services Tax bill, which seeks to streamline the country’s fragmented tax system with one levy. Businesses have been lobbying for a single tax rate as it would reduce costs, particularly for shipping goods across state borders, and analysts say the move could boost India’s economic growth by up to 2 percentage points.Click here for reuse options!