The good news is that the stock market party may not be over. The bad news is that it might be time for last call.
Huffington Post Italia leaked a government proposal late Tuesday showing that populist parties had drafted plans to ask the European Central Bank for debt forgiveness of €250 billion ($300 billion).
The European Union is planning to switch payments to the euro for its oil purchases from Iran, eliminating US dollar transactions, a diplomatic source told RIA Novosti.
The geopolitical risk premium in oil has driven crude prices to nearly four-year highs and shows no signs of abating.
Net central bank purchases totalled 116.5t in Q1, 42% higher y-o-y and the highest Q1 total since 2014.
Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to bogus accounts and promptly withdrew the money, two sources close to the government’s investigation said.
The world’s first state-backed digital currency ‘el petro’ launched by Venezuela this year to circumvent US sanctions is reportedly getting help from a Russian bank.
Against growing crude prices gold is significantly cheap and presents a good buying opportunity, according to Leigh Goehring, managing partner at New York-based firm Goehring & Rozencwajg Associates.
Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply.