Wednesday, June 20, 2018

Hong Kong defends its dollar peg in both directions

THE Hong Kong dollar is one of the most and least manipulated monies in the world. For over 34 years the territory’s monetary authority, the HKMA, has kept it pegged...

Indicators that signal financial-market trouble are flashing

WATCHING financial markets can be like watching a horror film. A character walks into the darkness alone. A floorboard creaks. The latest spooky sign is the spread between the three-month...

Coco bonds have not lived up to their promise

DURING the financial crisis, Western governments poured hundreds of billions of dollars into their banks to avert collapse. The search for ways to avoid future bail-outs started before the turmoil...

Kinder Morgan’s attempt to build a pipeline reflects badly on Canada

ALMOST all Canada’s oil and gas is landlocked, so getting it to market requires pipelines—lots of them. But building them requires skills more suited to circus artists than engineers. They...

China’s tighter regulation of shadow banks begins to bite

THE teller at ICBC, China’s (and the world’s) biggest bank, ushers a new, well-heeled customer into a private room. It is not for VIP treatment but a stern warning. The...

How developing countries weave social safety nets

SOUP kitchens serve the needy for free; restaurants serve the hungry for money. In parts of South Asia, eateries near mosques sometimes fall into a third category. They feed the...

A new breed of German startups

At a rooftop bar in Berlin on May 29th, the glitterati of Germany’s startup scene toasted a new arrival. Silicon Valley Bank, a commercial lender which counts as customers half...

Tax cuts and higher interest rates help boost banks’ earnings

SO THIS is how normality feels. Between April 13th and April 18th America’s biggest banks reported a strong set of first-quarter earnings, with a helping hand from the taxman. Some...

How open is America?

“JUSTIN has agreed to cut all tariffs and all trade barriers between Canada and the United States,” claimed President Donald Trump to laughter on June 8th, at the G7 summit...

The murky future of two Latin American oil giants

IT SEEMED like such a comeback. When Pedro Parente took over as boss of Petrobras in 2016, Brazil’s state oil firm was drowning in $130bn of debt. It had lost...
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NEWS

Indian states squabble over how to share out federal cash

THE population of Uttar Pradesh is over 220m, enough to make the northern Indian state the world’s fifth-most populous country. But statistics still...