Biden set to pick former US Fed chair Janet Yellen as his Treasury Secretary November 23, 2020 Joe Biden set to pick former US Fed chair Janet Yellen as next Treasury Secretary, succeeding Steve Mnuchin's role
Safe, sterile football is undermining Arsenal’s progress under Mikel Arteta November 23, 2020 It is little more than three months since Mikel Arteta and Arsenal swept to the FA Cup on a wave of optimism, but it feels a lot longer. Victory at Wembley and a run of eight wins in 11 games appeared to confirm that, under their former captain, the Gunners were on the up again. [...]
US stocks slip as Treasury clashes with Fed to cut loan programmes November 20, 2020 US stocks slipped in early trading while global markets were subdued as rising coronavirus cases and a rare disagreement between the Federal Reserve and Treasury worried investors. Treasury secretary Steve Mnuchin yesterday requested that the Fed wind down a series of coronavirus lending facilities put in place to support companies at the start of the [...]
Gold prices set for second week of falls as vaccine hopes spur traders November 20, 2020 Gold prices were on track to fall for a second consecutive week as investors chanced their arms on equities again on news of not one but two effective coronavirus vaccines. The safe haven asset has seen prices jump almost 25 per cent this year, with traders piling in as stock markets melted down around the [...]
The best wine to drink with your lockdown roast November 18, 2020 After a brief Indian summer it looks as though things are on the turn in the UK. A change in temperature and government-enforced house arrest mean we have only one thing to look forward to this weekend: the mega roast. One of the many tragedies of the pandemic has been its impact on some of Britain’s great producers, with many relying on restaurants as their route [...]
BoE’s Andy Haldane: Digital currencies could cut risk and boost lending November 18, 2020 Digital currencies could reduce risk in the financial system and aid monetary policy with interest rates close to rock bottom, Bank of England chief economist Andy Haldane has said. Haldane also told The City UK’s annual conference that new technological infrastructure should be considered to help small and medium-sized businesses better access finance after years [...]
How central bankers see the prospects for digicurrencies November 17, 2020 Last week three of the world’s central bankers met for an online European Central Bank Forum: BoE Governor Andrew Bailey, ECB President Christine Lagarde, and Fed Chair Jerome Powell. Their opinions will affect policy for the near-term—policies that determine inflation, interest rates, economic activity, the sales your company makes and the salaries or raises you [...]
Covid revealed that compliance is broken — now let’s build back better November 17, 2020 We’ve all been a little lonely during lockdown, but a word to the wise — if a new match on a dating site asks you to transfer some money to them, don’t do it. It’s probably a fraudster. Professional money launderers have been getting creative during the pandemic. With the usual avenues closed to them, [...]
Cabinet confidential: Who will Joe Biden pick as the next US Secretary of the Treasury? November 16, 2020 President-elect Joe Biden has made it clear he wants his government to “actually look like America”, with pundits expecting the most diverse cabinet ever assembled. Speculation is rife Biden will appoint female and Bame candidates to top cabinet roles, including to Secretary of the Treasury and Secretary of State. The former Vice President will have [...]
BoE’s Cunliffe: ‘Not our job’ to protect banks from digital currencies November 13, 2020 Bank of England deputy governor Jon Cunliffe has said it is not the bank’s job to protect other banks from the impact of future digital currencies. Speaking an on online seminar today, Cunliffe said: “Our job is not to protect bank business models. Banks will have to adjust. Our job is to ensure that if [...]