Global stock markets to remain volatile on ongoing trade drama between the US, China

Businessam StaffMarch 28, 2018

Global stock markets are likely to remain explosively volatile and wildly unpredictable unless the ongoing trade drama between the US and China is quickly resolved, according to Lukman Otunuga, research analyst at ForexTime (FXTM), a Lagos-based forex broker specialising in forex trading, CFDs, stocks, commodities and spot metals. “The fact that global equities roared back […]

U.S. SEC sanctions KPMG, Deloitte for poor audit

Businessam StaffMarch 13, 2018

The top U.S. securities regulator Tuesday charged foreign affiliates of three major accounting firms – KPMG, Deloitte & Touche and BDO – for conducting audits without proper oversight from the Public Company Accounting Oversight Board. The Securities and Exchange Commission said the firms agreed to settle the charges by paying penalties and disgorging profits from […]

Global economic upswing knocked back by Trump’s trade-war threat

Businessam StaffMarch 5, 2018

Investors are worried that Donald Trump will derail world growth. An announcement last week of tariffs on imported steel and aluminum triggered a slide in optimism among financial-market participants, according to Sentix, which said the reaction should be a “wake-up call for the U.S. president to reconsider the matter of protectionism.” Investor confidence in the […]

Global shares mixed as China recovers from Wall Street drag

Businessam StaffMarch 1, 2018

Global shares were mixed Thursday as sentiment was being dragged down by a slide on Wall Street, but Chinese benchmarks rose on optimism for growth. France’s CAC 40 dipped 0.2 percent in early trading to 5,311.47, while Germany’s DAX slipped 0.5 percent to 12,379.95. Britain’s FTSE 100 was down 0.2 percent at 7,216.16. U.S. shares […]

Facebook expands job search to more than 40 countries

Businessam StaffFebruary 28, 2018

Facebook Inc. expanded the jobs section on its social network, as it looks to compete in a market dominated by Microsoft Corp’s LinkedIn. The social media company expanded the job search and application tool it released almost a year ago in the U.S. and Canada to now serving more than 40 countries. With this innovation, […]

U.S. inflation surges 0.5% more than forecast on apparel, rent costs

Businessam StaffFebruary 14, 2018

U.S. consumer prices leaped 0.5 percent in January more than projected as apparel costs jumped the most in nearly three decades, adding to signs of an inflation pickup that have roiled financial markets this month, according to report by Bloomberg. The 0.5 percent surge is above the median estimate of economists for a 0.3 percent […]

Commodity traders gain relief on position limits under EU Mifid II

BusinessamFebruary 7, 2018

The UK financial regulator handed out more than a thousand exemptions to commodities traders in January after the introduction of wide-ranging markets reforms, underlining a scramble to comply with rules years in the making. Europe’s new Markets in Financial Instruments Directive (Mifid II) legislation set tougher limits on the size of positions traders could hold […]

New OPEC worries as U.S. oil output hits 10mbpd, weakening price rally

Andy NssienJanuary 31, 2018

The Organisation of Petroleum Exporting Countries (OPEC’s) effort to prop up global oil prices may face a draw back as the United States oil production surged above 10 million barrels a day, first time in four decades. The milestone comes weeks after the International Energy Agency said the U.S. is poised for “explosive” growth in […]

Moody’s, Fitch brush off shutdown threat to U.S. sovereign rating

Andy NssienJanuary 22, 2018

As the United States shutdown enters the third day with a projected telling effect on the economy, international rating agencies, Moody’s Investors’ Service, and Fitch Ratings have brushed off the impact of the shutdown to their rating of the U.S economy. Moody’s says it poses no immediate threat to its top-notch Aaa rating as long […]