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The pound tanks after BOE’s Carney says more easing is likely this summer.

The British pound fell Thursday, capping its worst quarterly performance since the financial crisis, after Bank of England Governor Mark Carney said the central bank would likely need to further ease monetary policy this summer.

Carney’s remarks sent the currency spiraling lower, pushing it to a 7.9% quarterly Читать далее

U.S. stocks were rising for a straight third session on Thursday, with the Dow Jones Industrial Average advancing more than 200 points on mounting expectations for even more accommodative policies from global central banks following the U.K.’s vote to leave the European Union last week.

The Dow

DJIA, +1.07%

advanced 210 points, or 1.2%, led by a 2.6% jump in General Electric Co< Читать далее


British flags in London

As of last Friday morning, it was official. The United Kingdom voted to leave the European Union and travel along their own path going forward. Now that a few days have passed, we can take a breath and perhaps more calmly ask, “What does this all mean?”

In the E.U., you have 28 member states, including the United Kingdom. However, unlike most of the others Читать далее

Dear Moneyologist,

My wife made a couple of loans to friends roughly 10 years ago. They were having trouble making ends meet. I was not in favor of loaning money to friends, but my wife felt that the situation warranted it. The total of the agreed loans was around $15,000, not including the accrued interest at an agreed-upon 5% rate. I think that about $3,500 has been paid back on the loan with interest.

Things have stabilized for the friends and they’ve gotten back on their feet, but paying back the loans will still be a challenge for them. They have worked to make some payments, but we have never had a consistent payment and have not pushed on the issue for about four years. My wife did get a notarized loan note associated Читать далее

Are the brakes on the “Brelief” rally? Dow futures aren’t doing much this morning, slowing down after blue chips soared 554 points in two days.

That two-day rebound was welcome in the face of gloomy predictions, but it would be foolish to assume risk assets are out of the woods just four sessions into the post-Brexit world, says Peel Hunt strategist Ian Williams.

“Everything does seem to be looking incredibly stable,” but “further volatility should be expected in due course, as the next steps to leaving the EU become clear,” Trustnet Direct analyst Tony Cross says.

“Despite the hiatus caused by the Brexit vote, the FTSE 100 is on course for its best month since October 2015,” Cross adds.

Our call of the Читать далее

Andy Xie isn’t known for tepid opinions.

The provocative Xie, who was a top economist at the World Bank and Morgan Stanley, found notoriety a decade ago when he left the Wall Street bank after a controversial internal report went public. Today, he is among the loudest voices warning of an inevitable implosion in China, the world’s second-largest economy.

Xie, now working independently and based in Shanghai, says the coming collapse won’t be like the Asian currency crisis of 1997 or the U.S. financial meltdown of 2008.

In a recent interview with MarketWatch, Xie said China’s trajectory instead resembles the one that led to the Great Depression, when the expansion of credit, loose monetary policy and a widespread belief Читать далее

Hertz Global Holdings Inc. is expanding a car rental program to drivers working for Uber Technologies Inc. and Lyft Inc., a move designed to bolster its presence in the ride-hailing business and leverage its network of 8,500 Hertz locations across the country.

Under a new national program announced on Thursday, Hertz

HTZ, +2.55%

 initially will supply Uber drivers in Los Angeles with low, set Читать далее


IMF Managing Director Christine Lagarde speaks with Swiss bank Credit Suisse CEO Tidjane Thiam.

The Brexit vote will have negative repercussions that will spread beyond the U.K. and Europe to the global economy, the International Monetary Fund said Thursday.

The risks arise mainly from macroeconomic and financial market impact of a sizable increase in uncertainty, especially about the future Читать далее


St. Louis Federal Reserve Bank President James Bullard

St. Louis Federal Reserve President James Bullard captured headlines earlier this month when he said he was the lowest dot on the Fed’s so called “dot plot,” projecting only one interest rate increase this year and no more through 2018.

In a speech in London Thursday, Bullard offered more explanation for his shift.

Bullard had been in Читать далее

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A view of New York City, home to many of the financial firms considered too big to fail.

After the Financial Stability Oversight Council removed the designation of GE Capital as a systemically important financial institution, here’s the list of banks and insurers the federal government gives extra scrutiny to for fear of their failure derailing the U.S. economy.

Also read: U.S. regulators Читать далее