On Friday, one of the top Federal Reserve official suggested that the central bank probably requires keeping the key interest rates lower for a longer time due to a weaker economic growth globally, the dollar weighing stronger vs. a basket of other currencies and an unexpectedly longer duration of low oil prices.
On Friday, Citigroup Inc. reported its largest full-year earnings in almost ten years. That shows that the strategy of the firm to get leaner is working to its advantage.
However, shares of Citigroup dipped 6.4 percent which is a bigger drop compared to other banks or considerable size and also the wider market. Drop in oil prices and slowing economy in China has not worked well for financial institutions in the past year. Compared to its contemporaries, Citigroup has greater exposure in international markets which also includes Asia.
Brazil's inflation rate grew at a rate beyond the government's expectations for 2015. It was at its highest level compared to figures noted in almost last twelve years.
The more than ten percent rate is an indication for the government to take action to control prices in spite of growing recession.
On Thursday, the Central Bank of Nigeria said that the foreign exchange reserves in the country dropped to 29.13 billion dollars on December 29.
On its website, the bank said that the drop in reserves represented 2.43 percent from $29.31 billion which was recorded on December 23.
On Monday, Adam Siegel a thirty seven year old bond trader pleaded guilty of conspiring to deceive the customers Royal Bank of Scotland Group Plc by misrepresenting the prices of bond transactions which he and some others handled for them. This was an effort to spike up the profits for the bank.
The GDP forecast for South African economy was revised down for 2015 and 2016; however it remained unaltered for 2017. Property market is also expected to be indecisive as the industry warns of an unsteady housing market.
- Postage Prices will Decrease from Sunday; USPS not too Happy About It
- Marriott and Starwood Hotels & Resorts Worldwide Inc Shareholders Approve to $14.41 Sales Deal
- UK plan to impose additional tax on sugary drinks
- Obesity during pregnancy may increase risk of very ‘large babies’
- Dropping Sales at Gap’s Key Brands hurt the Company’s Shares