Tag: markets

Stars Group Builds Sports-Betting Muscle with $4.7 Billion Deal

announced the cash-and-stock deal with CVC Capital Partners and Sky Plc on Saturday, is set to win a significant foothold in the U.K. — the largest regulated gaming market. Sky Betting & Gaming, or SBG, is growing rapidly in online casino games and sports at home and recently expanded to Italy and Germany. If an upcoming …

What Global Finance Chiefs Are Saying About the Global Economy

"Things are good, but they’re getting risky." That’s how David Lipton, first deputy managing director at the IMF, characterized the global economic state of play in a Bloomberg Television interview. His observation captured the mood at the dominated discussions. While the IMF left its forecasts for Record debt was highlighted as a threat to financial stability, …

Poloz Says Canadian Inflation Spike Doesn’t Violate 2% Target

Rate increases aren’t mechanical, Bank of Canada governor says Neutral rate may be lower than estimated due to headwinds price growth surpasses the 2 percent point. “What I don’t want is for people to be spending this entire year asking me what I’m up to because inflation is above target,” Poloz said. “You need once in …

Brazil Cheers IMF’s Revised Forecast

IMF increases its forecast for Brazil to 2.3% in 2018 Brazilian economists have been cutting their growth forecasts International Monetary Fund, while downplaying the fact its estimate remains lower than others. “I don’t know if you saw, but Brazil was one of the countries for which the IMF most intensely changed its growth forecast,” central bank …

Fidelity Bank of Ghana Plans to List on Stock Exchange by 2020

Fidelity Bank Ltd., a closely held Ghanaian lender, plans to list its shares for trading on the country’s bourse by 2020 as it targets a spot among the largest three banks in the West African nation. Shareholders of the country’s fourth-largest lender on Friday approved a proposal to raise 70 million cedis ($16 million) by selling …

RBNZ’s Orr Says New Zealand Bank Culture Better Than Australia

New Zealand’s banking sector doesn’t share the cultural problems that are coming to the surface at an inquiry into misconduct in Australia’s financial industry, Reserve Bank Governor Adrian Orr says. “The true problem and challenge going on in Australia is cultural,” Orr said Sunday in an interview on Television New Zealand’s Q+A. New Zealand bank culture …

U.S. Hints at a China Truce as World Warns of Trade-War Threat

U.S. Treasury Secretary Steven Mnuchin said he’s considering a trip to China amid a trade dispute with Beijing that finance chiefs warn could derail the global economic upswing. Mnuchin said he’s “cautiously optimistic” of reaching an agreement with China that bridges their differences over trade. “A trip is under consideration,” Mnuchin told reporters on Saturday in …

Kim Shifts Gear to Economy as North Korea Ditches Nuclear Tests

Kim Jong Un’s suspension of North Korean nuclear tests has strings attached. The leader’s Korea Development Bank. “North Korea can be a bridge linking the peninsula to as far as Europe via China. Imagine how much cargo could flow on that Asian highway.” Rare Earths North Korea has struggled to revive its economy since a famine …

Oil Shrugs Off Trump Tweet to Rise for a Second Straight Week

President tweets as Saudis talk about continuing output cuts Current prices reflect geopolitics, OPEC oil ministers say willingness to further tighten oil markets and boost prices in a meeting in Saudi Arabia. West Texas Intermediate futures dropped as much as 1.2 percent early on Friday before rebounding as the impact of the tweet fizzled. They’ve risen …

Russia Poised for Economic Foothold Over EU Member’s Resistance

Two Russian banks are on the verge of taking a substantial equity stake of Croatia’s biggest retailer, in a sign Moscow is expanding its reach in a corner of the European Union that has for years tried to fend off Russian investment. State-owned Sberbank PJSC and VTB Group are set to convert claims of about 1.4 …
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