Sterling sinks after another defeat for PM's Brexit deal - see the latest currency movements on our Markets Hub It suffered worst week vs dollar in 2019 Pound reverses gains to drop below $1.30 versus dollar Tui warns on profits after grounding of Boeing 737 Max Ambrose Evans-Pritchard: Turkey crisis puts fears into emerging markets Sign up for our weekly Economic Intelligence newsletter here To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free Register for free to continue reading this article Register Or unlock all Premium articles, free for 30 days Start trial Already have an account? Login Want to learn more? View all subscriptions … [Read more...] about Pound suffers worst week versus dollar in 2019, sinking below $1.30 after latest Government defeat
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By Misyrlena Egkolfopoulou Bloomberg Fri., March 15, 2019 Canada’s dollar may have gotten off to a flying start in 2019, outperforming all its Group-of-10 peers except the British pound, but those good times may be a thing of the past. Weaker-than-expected local economic data is combining with a decidedly more downbeat view from the central bank to put a damper on the currency, and some analysts are calling for the loonie to weaken significantly as the year progresses. Prospects for the Canadian dollar “have shifted considerably to the downside over the medium-term,” according to Mazen Issa and Mark McCormick, foreign-exchange strategists at TD Securities. The currency has established itself as a “problem child” among G-10 peers and “the positives are hard to find,” they wrote in a note Friday. That wasn’t the case earlier in the year. In January, the Canadian dollar outstripped all its G-10 peers to notch a gain of … [Read more...] about From poster child to problem child — the Canadian dollar in 2019
By Ira Iosebashvili The Wall Street Journal Mon., Nov. 26, 2018 The Mexican peso fell to its lowest level against the dollar in nearly a year-and-a-half Monday, after President Donald Trump threatened to shut down the southwestern U.S. border. The dollar was recently up 0.9% against the peso at 20.59 (U.S.), its highest level against the Mexican currency since June 2018. In a tweet Monday morning, Mr. Trump threatened a border closure if Mexico didn’t send migrants seeking to enter the U.S. back to their own countries. Closing border crossings for a lengthy amount of time would be a rare move that would risk disrupting commerce and upending the lives of hundreds of thousands of people in the U.S. and Mexico. Monday’s drop is the latest setback for the Mexican peso, which has also been pressured by investor worries over how president-elect Andrés Manuel López Obrador will manage the economy when he takes office next month. Many were spooked when … [Read more...] about Mexican peso falls to lowest level against dollar in over a year
Vingroup continues to show steady growth by injecting trillions of dollars into technology, industry, and network security companies. Vingroup keeps pouring trillions of dollars in technology On November 23, the management board of the Hoa Lac Hi-Tech Park and Vingroup signed a strategic co-operation agreement on the construction and development of Hoa Lac Hi-Tech Park. Nguyen Viet Quang, Vingroup’s vice president and CEO, said that the signing aims to actualise the aspiration to become a multi-sector corporation in the next 10 years with three main business sectors, including technology, industry, and trade-service, in which technology plays the main role, according to vnexpress.net. The first project to be implemented is the smart electronics factory which has a total investment of nearly VND1.2 trillion ($52.17 million) and will be implemented soon after being granted the investment decision. It is expected to come into operation in the second quarter of 2019. The … [Read more...] about Vingroup keeps pouring trillions of dollars in technology
Amazon is reportedly nearing a deal to move part of its second headquarters,HQ2, to New York City, in the Long Island City neighbourhood of Queens. New York City’s Long Island City pitch to Amazon promised the company 13 million square feet of real estate, a fun neighbourhood, and speedy commutes. The state has also reportedly offered incentives that could include hundreds of millions of dollars in subsidies, as well as more tongue-in-cheek promises such as Gov. Andrew Cuomo changing his name to “Amazon Cuomo” and renaming a polluted creek the “Amazon River.” Amazon is reportedly nearing a deal to move part of its second headquarters to New York City, in the Long Island City neighbourhood of Queens, The New York Times reported on Monday. The other part of HQ2 will reportedly be in the Crystal City area of Arlington, Virginia. The deal seems to have taken months of deliberating on Amazon’s part, as well as plenty of promises from New York … [Read more...] about New York City is reportedly nearing a deal to host Amazon’s second headquarters. Here’s what New York promised the company — from millions of dollars in subsidies to Gov. Cuomo changing his name — to win Amazon over.