25 C
Lagos, South Africa and New York
Wednesday, July 8, 2020

U.S. bank regulator sharpens teeth on Wells Fargo, surprising critics

WASHINGTON (Reuters) - Long accused of being too soft, a U.S. bank regulator has surprised its critics with tough treatment of scandal-ridden lender Wells Fargo (WFC.N), culminating on Thursday in more than$58 million in fines against eight former executives at the bank. Consumer groups...

2020 Economic Outlook: Trade, Global Growth, and U.S. Political Shock Key Risk Factors in Forecast

Today, SIFMA unveiled the results of its biannual survey of the chief U.S. economists of many of SIFMA’s global and regional firms. Compared with the June survey, the economists surveyed increased their GDP growth estimates by 0.05% for 2019 to a median forecast of...

Rrising corporate and govt debt makes global economy more vulnerable

Rising corporate and government debt levels and the sharp increase in more risky lending could leave the global economy vulnerable to another severe downturn, the International Monetary Fund warned Wednesday. While the concerns “aren’t all setting off alarm bells just yet,” governments will...

Global economy loses $2.2trn to illicit trade – Analyst

Esteban Giudici, Senior Analyst, Transnational Alliance has said that economic leakages from illicit trade create an annual drain on the global economy of 2.2 trillion dollars, equivalent to three per cent of the world’s economy. Giudici said this during the 2019 Africa Security Forum (ASF)...

Looking for recession signs? Follow the jobs, says Credit Suisse economist

by Kelly Olsen Investors worried about when the next recession will hit should pay close attention to the overall labor market for clues, said Credit Suisse Chief Economist James Sweeney. Traditional harbingers such as...

Christine Lagarde expected to change ECB inflation target

Majority of economists surveyed believe strategic review will shift central bank policy Christine Lagarde is expected to significantly change the European Central Bank’s inflation target for the first time in more than 16 years as part of next year’s strategic review, according to economists polled...

World Bank chief laments global trade slowdown

David Malpass, the new president of the World Bank who was tapped for the job by Donald Trump, has lamented a “deepening slowdown in global trade” but refrained from rebuking the White House with a more pointed call for de-escalation. Mr Malpass’s comments on...

Lagarde Says U.S.-China Trade War Looms Large Over Global Growth

By Jess Shankleman The head of the International Monetary Fund reiterated her call for the U.S. and China to de-escalate their trade war, which she warned is the biggest risk to global economic growth. The global economy remains "precarious" despite projections for continued growth and early...

* Global economic slowdown will curtail African exports as economies debt stabilises

* Despite stabilisation, several states still debt distressed * South African slump weighing on regional growth By Joe Bavier JOHANNESBURG, Oct 18 (Reuters) - Sub-Saharan Africa’s public debt load is stabilising but the region’s economies face mounting headwinds due to slowing global growth that will weigh on...

Mexico’s economy has not been this weak relative to the US since the ‘Tequila crisis’ in the 1990s

Revised data shows Mexico’s economy contracted by about 0.1% for three straight quarters before remaining static in the third trimester of 2019. Mexico’s economic slowdown is unusual because the U.S. economy is still growing. ...
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