Tags » The ECONOMIST

Hong Kong defends its dollar peg in both directions

THE Hong Kong dollar is one of the most and least manipulated monies in the world. For over 34 years the territory’s monetary authority, the HKMA, has kept it pegged to America’s currency at around HK$7.80 to the dollar, resisting all temptations to let it fall or rise. 136 more words

Financial News

Coco bonds have not lived up to their promise

DURING the financial crisis, Western governments poured hundreds of billions of dollars into their banks to avert collapse. The search for ways to avoid future bail-outs started before the turmoil ended. 205 more words

Financial News

Indicators that signal financial-market trouble are flashing

WATCHING financial markets can be like watching a horror film. A character walks into the darkness alone. A floorboard creaks. The latest spooky sign is the spread between the three-month dollar London interbank offered rate (LIBOR) and the overnight index swap (OIS) rate. 130 more words

Financial News

Americans will no longer have to sign for credit-card purchases

AMERICANS, and people who travel to America, have good reason to celebrate this month. By the end of April, the four major credit-card networks in the country will all stop requiring retailers to collect signatures from customers when completing transactions. 85 more words

Financial News

Sir Martin Sorrell leaves the world’s biggest ad company in a sorry state

DURING his spectacular rise from London beancounter to the globe-trotting boss of WPP, the advertising powerhouse he created out of a backstreet wire-basket and trolley company, Sir Martin Sorrell was rarely sentimental. 122 more words

Financial News