All Finance News
Top stories summarized by our editors
7/18/2018

Mark Carney, governor of the Bank of England, says a no-deal Brexit would have significant consequences for the British economy and could influence whether the central bank raises interest rates. Wage growth has declined to 2.5%, the weakest level in six months.

More Summaries:
Mark Carney, Bank of England
7/18/2018

The European Central Bank says systemic problems are possible if an overhaul of the Euro Interbank Offered Rate does not meet deadline. The European Commission wants the overhaul complete by 2020, and the ECB's Cornelia Holthausen warns against complacency.

Full Story:
Reuters
7/18/2018

US stocks have gained and the US dollar has reached a six-month high against the yen after Federal Reserve Chairman Jerome Powell said stable inflation and economic growth are likely to allow a gradual increase in short-term interest rates. Inflation is "just shy" of Powell's goal of about 2%, he says.

7/18/2018

Technical analyst Chad Shoop, CMT, notes an ascending triangle on the chart of real estate investment trust Hudson Pacific Properties and says a breakout is only a matter of time. The stock has gained more than 20% since February, and the triangle pattern indicates a surge to $42.50 from $34.35 is possible.

Full Story:
Investopedia
7/18/2018

Goldman Sachs President and Chief Operating Officer David Solomon will become CEO after Lloyd Blankfein retires Sept. 30, the company said. The announcement came as Goldman Sachs reported a rise in trading revenue, thought to be largely due to its shift of focus on traditional activities toward areas such as consumer lending.

7/18/2018

The US Supreme Court's June 21 decision holding that states can collect sales taxes from retailers that don't have a physical presence there could mean online retailers will be required to post a sales tax bond. States that require brick-and-mortar retailers to obtain a sales tax bond could extend the requirement to online retailers.

More Summaries:
US Supreme Court
7/18/2018

Lloyds Banking Group plans to run three Continental subsidiaries as it plans for the post-Brexit environment, sources say. The bank has a Berlin office, but it reportedly will open an office in Frankfurt, Germany, to manage euro bond trading, as well as a third office in an as yet unnamed location.

7/18/2018

The European Parliament wants to close a loophole in leverage-ratio reporting by making banks calculate the ratio daily, instead of quarterly. The switch is intended to reduce volatility by curbing balance sheet manipulation, but critics say it could weaken EU banks' competitive advantage in the US Treasury repo market.

More Summaries:
EU, European Parliament
7/18/2018

At least 109 Chinese companies have repurchased shares or plan to do so this year, which could indicate business confidence as the government tries to stop a $2 trillion equity-market loss. "Repurchases might limit downside in the companies' shares and support the market," says Ronald Wan, CEO of Partners Capital International.

7/18/2018

Mobile payments in China have surged during the past five years and accounted for nearly half of mobile payments worldwide in 2017. Millennials have led adoption of the technology.