After hawkish fed minutes, the Asian shares fall
Asian shares fell, extending a global slump after Federal Reserve meeting minutes pointed to a faster-than-expected rise in U.S. interest rates. This is due to concerns about persistent inflation. Worries over higher U.S. rates combined with growing concerns about the rapid spread of the Omicron coronavirus variant to weigh on riskier assets. Asian shares took […]
Record corporate tax haul drives down Irish budget deficit
Ireland ran a lower-than-expected 2021 budget deficit of around 4% of the economy. This is due to a surge in tax receipts, which includes another record contribution from the corporate sector. The ministry had forecast in October that it would finish the year with a deficit of 5.9% of modified gross national income. The most […]
Bank of England aims to print books
The Bank of England will publish a book aimed at improving the British public’s understanding of economics later this year. Its title will be “Can’t we just print more money?”. The BoE ended an 895-billion-pound ($1.2 trillion) programme of bond purchases. A policy often dubbed money printing and which critics blame for fuelling inflation. BoE […]
Dollar edges up as jolt from Fed minutes wanes
The U.S. dollar edged up after a flurry of economic data. This includes weekly labor market numbers, in a more muted move a day after a spike higher. This is after following the release of minutes from the Federal Reserve’s meeting. The dollar sharply pared losses of as much as 0.44% after the minutes showed […]
Community banks turns on forex services
Historically, there has been a significant barrier to entry for community banks and credit unions to fulfil their customers’ foreign exchange (forex) transaction needs. They lack in the technology platforms and the in-house forex expertise. Hence, they have had to rely on correspondent banks to service their customers. The fast-growing fintech sector is bringing forex […]
2022 Digital Transformation
Hybrid working is more than just a buzz word. Despite the developments of the last 12 months, many businesses are still completely unprepared for this transition. This is backed up by evidence found in Reconfigured, Actual Experience. CEO, Dave Page examines the outcomes of this research and outlines how businesses can prepare themselves. The reality of what […]
Asian shares slip, US yields hit tech firms
Asian stocks slipped following a mixed Wall Street session as higher U.S. Treasury yields weighed on global tech firms. This pushed the dollar to a five-year high against Japan’s yen. U.S. yields rose as bond investors geared up for interest rate hikes from the Federal Reserve by mid-year to curb stubbornly high inflation. MSCI’s broadest […]
All options to be explored by Italy’s Pop Sondrio
Italy’s Banca Popolare di Sondrio’s CEO said that it is open to exploring all options for its future. This is after shareholders approved long-delayed governance changes that could open the mutual bank up to a merger. Yet Mario Pedranzini stressed that, while M&A was an option, Popolare di Sondrio was a healthy lender that did not need […]