Big banks extend dominance of forex league table The biggest banks have reinforced their dominance of the $5.3tn a day foreign exchange market in the past year, according to a closely watched industry survey. The combined market share of the top five banks in currency dealing has risen to 60.6 per cent from last year’s 57.4 per cent in Euromoney’s annual poll. It is the first time the combined share of the top five has risen above 60 per cent since 2009. The ...
Chuck Berry, Peter Sellars to receive Polar Music Prizes The Polar Music Prize, music's equivalent of the Nobel Prize, will go to two Americans this year: rock 'n' roll icon Chuck Berry and theater/opera director Peter Sellars. Both laureates will be presented with the awards by King Carl XVI of Sweden at a gala Aug. 26 in Stockholm. The world's most prestigious music prize was founded 25 years ago by Stig "Stikkan" Anderson, ABBA's publisher, lyricist and ...
As Alibaba Prepares for IPO, Tech Stocks Retreat It's a tough time for a tech debut. As e-commerce giant Alibaba gets ready for a blockbuster stock sale in the next few months, technology shares are retreating. For two years, investors bid up biotechnology and internet companies, enticed by their strong growth prospects in an otherwise weak U.S. recovery. But they have sold off those stocks since late February, realizing they can find better value elsewhere. So-called ...
Chinese CPI dropped below 2% - Danske Bank Analyst Anders Fischer at Danske Bank noted the sharp drop of Chinese consumer prices during April. Key Quotes “In China consumer price inflation in April dropped markedly to 1.8% y/y (consensus: 2.1% y/y) from 2.4% y/y in March and inflation in China is now at the lowest level since October 2012”. “The drop in inflation in April was mainly driven by lower food prices. Food-price inflation is likely to ...
The Australian dollar weakened against the other major currencies in the Asian session Friday and held steady thereafter, after the Reserve Bank of Australia said it would continue to keep its accommodative monetary policy some more time and as China's consumer price inflation slowed in April. In its monetary policy statement, the RBA reiterated its commitment to hold interest rate unchanged for the foreseeable future. The board's outlook on inflation suggests that ...
Recent Comments