Markets under pressure as ‘Trump bump’ falters

Global markets recede as the so-called ‘Trump bump’ runs out of steam Despite share prices climbing sharply on the back of last November’s surprise election victory by Donald Trump, the fabled ‘Trump bump’ appears to be running out of steam as Wall Street signals its disapproval over the president’s failure to secure support for his most prominent pre-election pledge. Trump’s disappointment over his inability to pass the repeal of Obamacare through Congress was mirrored by tumbling US shares, as the market wobbled over the prospect of the administration’s power to deliver on a raft of growth-boosting measures, including a comprehensive package of tax cuts. Read more…

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Train yourself to be mentally tough

Mental strength is a skill we can all learnIf you’re aiming for success in business, you can’t rely on talent and aptitude alone. To face the challenges ahead and overcome the hurdles that stand between you and the top rung of the corporate ladder, you’ll need the mental strength to turn career aspirations into achievable goals. Thankfully, the kind of mental toughness that has the power to be transformational is available to all of us and often only requires a change in outlook, rather than a hefty financial outlay. So, how can you turn challenges into learning experiences and give yourself the blueprint for winning? Read more…

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Are small businesses being locked out of commercial lending?

Small business in the spotlight as de-regulation hits the headlinesSmall businesses are an important part of the US economy, creating wealth and employment opportunities as well as supporting economic growth at grass-roots level. So are small business owners being unfairly hindered by the slew of regulations introduced following the financial crisis of 2008? It’s an issue that’s in the headlines at the moment as ‎President Trump embarks on a full-scale review of the Dodd-Frank Act (2010) which tightened lending restrictions on banks. But are startups finding it impossible to get a foothold, or is growth stalling for existing businesses because of the lack of availability of business funding? Read more…

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Trump takes aim at Dodd-Frank

President Trump plans to repeal Dodd-Frank regulationsWhile Donald Trump and Johnny Depp may not appear to have much in common, they are both weighing in at different ends of the spectrum on whether or not the financial services industry requires more or less regulation. Depp is in dispute with his former managers whom he accuses of mismanaging his finances. He has filed 11 complaints and is seeking damages of more than $25 million. Trump, meanwhile, has reaffirmed this pre-election promises to loosen regulations by reversing post-financial-crisis reforms designed to discourage excessive risk-taking – including the dismantling of the Dodd-Frank law of 2010. Read more…

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How will Trumponomics impact the US economy in 2017?

How will the new presidency affect the US economy?With the ideological and political differences between the outgoing Obama administration and the incoming Trump regime a million miles apart, it looks as if barely a single policy will remain unaffected in the coming months – from public spending to international relations. So far, the markets have reacted positively to predictions of increased growth fuelled by pronouncements over deregulation, tax reforms and infrastructure spending. But, with Trumponomics set to remain a dominant influence in the coming months, observers will be closely monitoring whether Trump’s deeds match his words and forecasting how his administration will balance higher growth with spiralling inflation without plunging the country into a recession. Read more…

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Will President Trump boost the US economy?

Will President Trump boost the US economy?It seems as if the US economy may be set for an unexpected upturn as Trump prepares for presidency. The new Republican administration has pledged to ‘make America great again’ by putting its resources into boosting the economy which, together with expected trade restrictions is almost certain to fuel inflation above the average 2.2% of Obama’s second term. The economy may also get a boost from the deregulation of labour and environmental legislation. If there’s scope for economic expansion, Trump’s policies could kick-start growth and output and productivity could rise sharply, but as the economy approaches full capacity, inflation will soar. Read more…

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Central banks explore digital currency

Central banks ponder the introduction of digital currencyThe successful transition of crypto-currency bitcoin from experimental concept to globally accepted currency with a market value of more than $10 billion, is causing central banks to start exploring the potential of digital currencies for themselves. Research is at an early stage, but central banks – including those in Russia, Canada, the UK, Australia and China are assessing the risks and benefits of adopting a digital currency of their own. Further analysis needs to be done into how digital could affect a country’s economy and financial stability, and how systems could be put in place to defeat hackers, at the same time serving the needs of tens of millions of people. Read more…

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Oil prices soar as Opec deal nears agreement

Opec agrees deal to cut supplies in Vienna talksOil cartel Opec has agreed to cut supplies, causing crude prices to soar to the $50-a-barrel mark. Opec pumps around a third of the world’s oil, which makes the commitment to cut production by around 4% – the equivalent of 1.2m barrels a day – made headline news on the markets. Cartel members have been allowing output to rise over the last two years in a bid to damage the profits of US shale and other high-cost producers. Immediately after the news, the S&P 500’s oil and gas exploration and production index — mostly comprising US shale companies — rocketed 10.8 per, with almost all US energy companies benefiting from the outward ripples. Read more…

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Brexit and Trump elevate risks to banking sector

Global events including Brexit and Trump win exert pressure on banking sectorRecent political and economic events including Brexit, the US presidential election and China’s economic slowdown have created global uncertainty are creating significant risks for the global banking sector, according to leading ratings agency Standard & Poor. The agency’s global credit outlook for the banking sector in 2017 flags these and other factors as potential hurdles for the banking industry’s creditworthiness over the next twelve months, saying that more than half of the largest global banking systems face negative pressure – especially banks in Latin America and Asia Pacific. Read more…

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Yahoo under pressure over hacking and privacy fears

Yahoo under pressure from EU regulators over hacking and alleged email privacy breachYahoo under pressure from EU regulators over hacking and email privacy

It’s not been a great year for Yahoo. Following news of a large-scale account hack, perpetrated two years ago but only recently announced to the public, the company is now in hot water over its decision to scan clients’ email accounts on behalf of US authorities. European politicians have called on the European Commission (EC) to investigate the incident which could interrupt the progress of the transatlantic data sharing deal agreed earlier this year and is likely to touch a nerve with Europeans who fear mass surveillance by US. Read more…

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