LONDON (Reuters) - New European Central Bank boss Christine Lagarde holds her first policy meeting on Thursday, where investors will scrutinize her every word for a sense of the direction she will take the bank in. FILE PHOTO: European Central Bank (ECB) President Christine Lagarde speaks before she gives a sign which will be implemented on the newly printed euro banknotes at the bank's headquarters in Frankfurt, Germany November 27, 2019. REUTERS/Ralph Orlowski A relative newcomer to the world of monetary policy, Lagarde has taken the helm at a difficult time. Her predecessor, Mario Draghi, only recently unleashed yet more stimulus to boost a weak economy and lift stubbornly low inflation. Markets are keen to assess her take on the outlook for monetary policy and the economy, and get a sense of her communication style. Here are five key questions for financial markets. 1. How strong is Lagarde’s commitment to the September easing package? Lagarde is expected to … [Read more...] about Bienvenue, Madame Lagarde: Five questions for the ECB
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SYDNEY (Reuters) - Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war. FILE PHOTO: A man is reflected on an electronic board showing a graph analyzing recent change of Nikkei stock index outside a brokerage in Tokyo, Japan, January 7, 2019. REUTERS/Kim Kyung-Hoon Japan's benchmark Nikkei .N225 added 0.4% while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.3%, with Australian stocks and South Korea's KOSPI .KS11 up 0.4% and 0.3%, respectively. China's Shanghai Composite .SSEC stood flat and Hong Kong's Hang Seng .HSI rose 0.2%. Wall Street rose to near record highs on Friday on the strong jobs data and some signs of optimism about the U.S.-China trade talks, with the benchmark S&P 500 .SPX closing within 0.2% of its peak set in late November. … [Read more...] about Asian shares buoyed by Wall Street rally, but China worry caps gains
The Labour party’s proposals to bring water, energy, post and broadband into public ownership have been received with some public enthusiasm – privatisation of these sectors has never been popular. But they have also been subjected to various criticisms, mainly focusing on the potential cost of compensating shareholders, including the possibilities for legal action by investors, and the supposed impact on UK pension funds. Most of these critics have remained silent about the benefits of public ownership. Our research at the University of Greenwich, however, shows first that these benefits are large and provide excellent returns for any plausible estimates of compensation. Second, it shows that many claims about the level of compensation and its impact are based on errors about the law and about the identity of shareholders. To start with the benefits: the most easily quantifiable benefits come from not having to pay out dividends to private shareholders or high interest … [Read more...] about We’ve crunched the numbers – nationalisation would be a bargain
Systematic investment plans, better known as SIPs, are in the news again. This time for showing a rise in their collections in the first quarter of FY19 despite volatile markets.According to the Association of Mutual Funds in India, in April-June of FY19, the 43-player industry collected a total of Rs 21,548 crore through SIPs, 58 percent higher than the Rs 13,597 crore collected in the same period last year.AMFI data also shows that the MF industry added 9.83 lakh SIP accounts on an average during the first quarter of FY19, with an average size of around Rs 3,300 per SIP account as compared with Rs 3,250 last year.Close At present, domestic mutual funds have about 2.29 crore active SIP accounts, through which investors regularly invest in Indian MF schemes.Himadri BuchAssistant Editor|Moneycontrol.com AMFI monthly report: Outflows from credit risk funds rise, inflows into equity funds plummet 85%UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension … [Read more...] about What is driving SIP inflows even when equity markets are volatile?
New York State senator Robert Jackson, at the weekend told Nigerians and other black people around the world that “Africa is waiting” for them “to make it whole again”. Speaking at the premiere of a movie titled “We Are The Endless Roar (WATER)’’ in New York, Jackson urged them to be proud of their roots and unite to develop the continent. READ ALSO:At least 10m people stateless worldwide — UNHCR(Opens in a new browser tab) The American lawmaker delivered the remarks after the Consul-General of Nigeria in New York, Mr Benaoyagha Okoyen, highlighted the population strength and ethnic/cultural diversity of Nigeria. “Consul General you said Nigeria has approximately 200 million people and that one out of every African is a Nigeria, and it shows that we all came from Africa. “Africa is waiting for her children to make her whole again. So, let us join together our fractured pieces and remember who we are. Let us stay united … [Read more...] about Remember who you are, U.S. senator tells Nigerians, other Africans