News 

Russia’s central bank governor touts Moscow alternative to SWIFT transfer system

“There are risks in using the global financial networks, the global financial system, of which Russia is a part,” Russian central bank chief Elvira Nabiullina told CNBC’s Geoff Cutmore in St” writes Natasha Turak for cnbc.com. Russia has developed its own system for financial transfers that would protect it from a potential shutout of the SWIFT global transfer system in the event of harsher U.S. sanctions, its central bank governor said Wednesday. “Russia has encountered this and so, proceeding from this, we are taking measures that reduce the risks for…

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News Regulators 

Fed should create a financial stability report, Mester says

“The Federal Reserve should publish a financial stability report to highlight the central bank’s assessment of financial system vulnerabilities, said Cleveland Fed President Loretta Mester, on Friday” writes Senior Economics Reporter for marketwatch.com. The report, similar to publications of the central banks in Canada and Sweden, would help the Fed explain to the public its assessment of potential asset bubbles and what steps might be considered to counter the stability risks, Mester said, in a speech at a European Central Bank conference in Frankfurt.The Fed was still “a distance away”…

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News 

SEC Launches Fake Website to Educate Investors…

“The U.S. Securities and Exchange Commission (SEC) has launched a fake initial coin offering (ICO) website in a bid to educate would-be investors on the risks scam ICOs pose” writes Rebecca Campbell for livebitcoinnews.com. In an announcement from the agency, the SEC has set up a website, HoweyCoins.com, that copies a bogus coin offering designed to educate investors on the risks they should be aware of before investing their money into a possible scam.Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to…

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Markets News Oil 

Brent oil prices surge to $80 for first time since 2014 on risks to Iran supplies

“Domestic supplies of natural gas rose by 106 billion cubic feet for the week ended May 11, the EIA said” writes Markets Commodities Reporter for marketwatch.com. Back on Nymex, June gasoline RBM8, +0.82%  rose 1% to $2.272 a gallon, while June heating oil HOM8, +1.29%  rose 1.3% to $2.299 a gallon.An EIA report Thursday revealed a weekly rise in U.S. supplies of the commodity that was generally in line with market expectations. Source: marketwatch.com Share This:

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Markets News 

Dollar strengthening risks global imbalances, not just in Argentina

“Emerging economies, meanwhile, should focus on maintaining solid balance sheets, improving their understanding of market dynamics, and safeguarding policy credibility” writes Mohamed A for marketwatch.com. Emerging markets have long been particularly vulnerable to this phenomenon.As the dollar appreciated in international markets, these economies became less competitive and experienced sharp deteriorations in their current-account positions.Now, there is less external capital chasing returns in Europe and the emerging economies, and some that was there has already flowed back home.So economic and financial factors can be expected to continue to fuel the appreciation…

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Markets News Stocks 

Rethinking Diversification for Today’s Markets and Risks

“When it does come, interest rates will be raised further, causing bond prices to fall, but hard asset prices, including commodities, will move higher” writes Martin Tillier for nasdaq.com. That old-fashioned diversification model is based on the theory that stocks and bonds usually move in different directions. Source: nasdaq.com Share This:

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The Environmental Protection Agency announced Thursday that it would not seek to redo an Obama administration report that listed the numerous health risks from exposure to the paint stripper chemical methylene chloride.

“The Environmental Protection Agency announced Thursday that it would not seek to redo an Obama administration report that listed the numerous health risks from exposure to the paint stripper chemical methylene chloride” reports washingtonexaminer.com. The EPA is “not re-evaluating the paint stripping uses of methylene chloride and is relying on its previous risk assessments,” the agency announced.The paint stripping chemical has caused dozens of deaths, and environmentalists have called on EPA Administrator Scott Pruitt to ban the substance as a public health concern.The agency also said it plans to finish…

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Markets News 

Balancing act: software giant SAP navigates Russian risks

“SAP, by contrast, is the undisputed leader in the Russian business-planning software market, with 50 percent of the market” writes Midwest Communications Inc for 95kqds.com. Russian code-testers accredited by the Russian security services fly in to conduct the examinations.Germany’s SAP SAP is the clear leader in the Russian business-planning software market, supplying 53 of the top 100 Russian companies by revenue, according to a Reuters analysis of company filings. Source: 95kqds.com Share This:

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GBP News 

DEUTSCHE BANK: The downtrodden pound is set for a comeback

“Finally, on a more fundamental basis, Harvey argues, the pound looks like a fairly decent bet right now as it is “now in the cheapest 25% of major currencies.”” writes Finanzen Net Gmbh for businessinsider.com. Of course, it’s by no means certain that the pound will rebound, with Harvey not ruling out two big risks to the downside. Source: businessinsider.com Share This:

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Markets News Regulators 

Powell downplays risks to emerging market economies from Fed policies

“Emerging market economies should be able to manage as advanced economies move toward tighter monetary policy, said Federal Reserve Chairman Jerome Powell, on Tuesday” writes Senior Economics Reporter for marketwatch.com. For its part, the Fed would try to avoid market disruptions by communicating its policy strategy “as clearly and transparently as possible,” he said. “Fed policy normalization has proceeded without disruption to financial markets, and market participants’ expectations for policy seem reasonably well aligned with policymakers’ expectations…suggesting that markets should not be surprised by our actions if the economy evolves…

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