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December, 11, 2016

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Business > Global Markets
Markets mostly fall as bank policy fears return
Both Asian and European stock markets mostly dropped Wednesday on speculation that the ECB is mulling plans to taper its vast economic stimulus that aims to prop up the eurozone economy.
 
Gold sank Tuesday to the lowest level since the shock Brexit referendum result, taking its cue from the strong U.S. dollar -- which climbed on the prospect of rising U.S. interest rates.
 
Pound pushed to 31-year low against dollar
The pound slumped to a 31-year low against the U.S. dollar Tuesday on concerns over the timing and terms of Britain's planned exit from the European Union, traders said.
 
Shares in Taiwan closed higher Monday following a rebound in the U.S. stock market, with the weighted index surpassing the 9,200-point mark.
 
Extreme poverty has been falling steadily around the world, but eliminating it by 2030 could be stymied by unequal distribution of the gains of economic growth, the World Bank said Sunday.
 
OPEC deal shows resolve — and desperation
OPEC's unexpected agreement to trim production shows the cartel still has the resolve -- and even desperation -- to try to guide oil prices higher. But don't expect triple-digit crude anytime soon.
 
OPEC nations have agreed in theory that they need to reduce their production to help boost global oil prices during a meeting in Algiers, but a major disagreement between regional rivals Saudi Arabia and Iran still may derail any cut. What happened to oil prices and why can't OPEC agree to anything more binding?
 
European and Asian stock markets slumped Friday as Deutsche Bank shares plunged on widening concerns over its financial strength, causing ripples of fear across the global financial sector.
 
Yellen says rate hike later in the year likely
Federal Reserve Chair Janet Yellen said Wednesday that the central bank has no "fixed timetable" for raising interest rates but she believes the economy is ready for a rate hike by the end of the year.
 
Asian and European stock markets rallied Thursday and energy-linked currencies advanced after OPEC's shock deal to trim oil output.
 
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