Stock markets steadied while the dollar recovered some ground on Tuesday after unease over how the U. S. policy slate will develop under Donald Trump’s presidency drove the currency to its weakest since early December. Traders in Asia said shares were helped by hopes that the concerns about a stronger dollar expressed by the U.S. … Read more
Mr. Mervyn King, former head of the United Kingdom’s Bank of England, recently stated that another financial crisis is “certain” and could come sooner rather than later. Mr. King also believes that most politicians and Central Bankers don’t understand what caused the most recent financial crisis dating back to 2008. Accordingly, without understanding the 2008 … Read more
The year-end stocks rally on the heels of the election of Donald Trump as U. S. president was built on expectations of reduced regulations, big tax cuts and a large fiscal stimulus. Now signs are emerging from the Trump camp that harsher trade policies that could jeopardize the honeymoon are likely in the offing, and … Read more
The US Department of Justice is suing Barclays for alleged mortgage securities fraud. It claims that Barclays misled investors about the quality of loans backing securities in the run-up to the financial crisis. Barclays rejected the claims, saying they were “disconnected from the facts”. The banking giant is among a number of European banks that … Read more
President-elect Donald Trump said in an interview Sunday that his executives would run his business empire alongside his children, pushing back against charges that his vast real estate holdings would pose a conflict of interest for him in the White House. Trump has said he will leave day-to-day control of his business but has not … Read more
The euro swung wildly against the dollar and bank stocks in Italy slumped as the country appeared headed for a period of political and financial turmoil. Prime Minister Matteo Renzi said Monday that he would resign after his program of constitutional reform was rejected by Italians in a referendum, with the ‘No’ campaign winning nearly … Read more
Investors resumed the post-U. S. election trade of selling bonds and buying stocks on Wednesday after a pause earlier this week, albeit less aggressively, with Japan’s 10-year bond yield hitting its highest since February. The dollar was in demand again too, rising to a one year-high against a basket of currencies as the euro hit … Read more
That didn’t take long. An overnight panic in global markets evaporated as Wall Street gave an emphatic welcome to President-elect Donald Trump. The Dow soared 257 points and brushed up against lifetime highs on Wednesday, in defiance of those who predicted Trump’s election would bring about a plunge in the stock market. The S&P 500 … Read more
The apparently outrageous €1.7m bungalow cost presented by the government to the House of Parliament was seriously questioned by the Minority MPs It has been reported that, government was forced to withdraw a proposed €1.7m bungalow cost which it presented to the House of Parliament after Minority MPs described the amount as being outrageous. The … Read more
Government has withdrawn an amount €1.7 million (GHC7, 513,154.34) allocated for the construction of a bungalow after the Minority expressed outrage at the amount. The bungalow, to be built for the Vice Chancellor of the proposed University of Environment and Sustainable Development, will now cost €540,000 (GHC2,386, 531.38). This represents a difference of ?5,126,622.96 which … Read more
The Policy Adviser of the opposition New Patriotic Party (NPP) flagbearer, Emmanuel Agyarko has described the 38 million euro loan agreement secured by the government for the University of Environment and Sustainable Development in Somanya and Donkorkrom in the Eastern Region as “day light robbery.” Parliament on Friday passed the loan agreement between government and … Read more
The Minority in Parliament is raising concerns over the allocation of €1.7 million for the construction of a bungalow for the vice chancellor of the yet to be developed University of Environment in the Eastern Region. Minority Leader, Osei Kyei-Mensah-Bonsu, who raised the issue on the floor of Parliament said the amount is implausible. “The … Read more
Snap Inc, the owner of messaging app Snapchat, has moved a step closer to listing its shares on the stock market after settling on which banks will help with the flotation. Sources close to the deal confirmed Morgan Stanley and Goldman Sachs would underwrite the initial public offering (IPO). Several other banks will be involved … Read more
Kwame Nkrumah in Ghana came before Bernie Sanders in United States. But between both was Canadian David Lewis, NDP Leader from 1971 to 1975. In 1972 Lewis published one of the most insightful book called Corporate Welfare Bums on how the system is rigged against people that really carry the society by working for less … Read more
Ghana Cocoa Board (COCOBOD) says it secured US$1.8 billion syndicated loan from a consortium of banks to allow it purchase cocoa beans for the 2016/2017 crop season beginning next month will hit Bank of Ghana’s account within the next two weeks. “The money will soon hit the account. Normally we will have to give them … Read more
The US Department of Justice is asking Deutsche Bank to pay $14bn (£10.6bn) to settle an investigation into mortgage-backed securities, the bank has said. Deutsche Bank said it “has no intention to settle these potential civil claims anywhere near the figure cited.” The claim against Deutsche, which is likely to be the subject of negotiations … Read more
The world’s biggest investment banks saw combined revenues sink by 15 per cent in the first half of this year, the most since the aftermath of the financial crisis, underlining the urgency of taking radical measures to boost returns to shareholders. The second quarter saw more activity than the first, where there were simultaneous falls … Read more