Monthly Archives: September 2016
City of London braced for £2bn business rate hike
September 29th, 2016
The City of London is bracing itself for a tax hike estimated at more than £2bn when new business rates are revealed tomorrow. Details of new business rates represent the first re-evaluation since 2010. Due to rocketing rents in ...
FX Firm Joins Mexican Bitcoin Exchange’s $2.5 Million Fundraise
September 29th, 2016
Bitcoin exchange startup Bitso has raised $2.5m to make it easier for the underbanked in Mexico to gain access to financial services. Among the investors is Mexico-based foreign exchange, Monex Group, which last year conducted $160bn in transactions in Europe, the ...
Fintech Upstart LendUp Fined by CFPB, California Regulator
September 29th, 2016
Fintech upstart LendUp was fined by the Consumer Financial Protection Bureau and a California state regulator over widespread violations of payday- and installment-lending laws. The San Francisco-based lender, which specializes in small-dollar loans to risky borrowers, agreed to pay ...
FCA proposes new measures to maintain firms’ focus on culture
September 29th, 2016
The Financial Conduct Authority (FCA) will mark six months since the implementation of the Senior Managers’ and Certification Regime by providing feedback on implementation so far and proposing measures to further strengthen the regime. The proposed rules will reinforce ...
U.S. dollar edges higher as traders await clarity on Fed rate hike path
September 29th, 2016
Dollar rises slightly vs euro, yen Traders await more U.S. data for clues on Fed rate hike path Reduced European banking concerns cap euro losses The dollar edged higher against the yen and euro on Wednesday, but gains were ...
Draghi and Yellen leave EUR/USD in range
September 29th, 2016
Both Fed Chair Janet Yellen and ECB President Mario Draghi are making public appearances, but they have little to show for regarding EUR/USD movements. Yellen is testifying in Washington, but the topic of her appearance is not monetary policy. While she may ...
Aussie near 3-week highs, kiwi steady after OPEC deal
September 29th, 2016
The Australian slid lower against its U.S. counterpart on Thursday, after hitting a three-week high earlier in the session, while the New Zealand dollar held steady following news an production cap deal was struck by major oil producers. AUD/USD fell ...
Saudi riyal falls in forwards mkt after U.S. Congress vote
September 29th, 2016
The Saudi riyal fell moderately against the U.S. dollar in the forwards market on Thursday after the U.S. Congress voted to allow relatives of victims of the Sept. 11 attacks to sue Saudi Arabia. The Senate and House of ...
Asia markets rally after oil prices surge on OPEC production cut deal
September 29th, 2016
The overnight rally in oil prices amid reports that oil producers finally agreed to cut production levels sent Asia markets higher on Thursday. Australia’s ASX 200 was up 1 percent in afternoon trade, with the energy sector rallying 6.54 percent, while ...
OPEC Agrees to First Oil Output Cut in Eight Years
September 29th, 2016
Oil club to cut output to as low as 32.5 million barrels a day Deal indicates Saudi Arabia and Iran resolved some differences OPEC agreed to the outline of a deal that will cut production for the first time ...
