Markets News 

Contrarian who called the 2008 housing crash expects a global recession this year

“The International Monetary Fund has cut its estimates for global growth in 2019, citing concerns about weakness in Europe” writes Howard Gold for marketwatch.com. Read: These 3 leading economic indicators show no recession is coming One well-known independent economist thinks it will happen even sooner—he’s looking for a global recession to start in 2019.He also predicted a 2012 global recession that never happened.But there’s plenty of overvaluation in many financial markets, thanks, he says, to the Fed’s largesse after the Great Recession. Source: marketwatch.com

Read More
News 

China could completely cut off investment into Silicon Valley amid Huawei bust-up

“China could completely cut investment into the Silicon Valley, according to the former deputy governor of the People’s Bank of China, following intense scrutiny of the world’s largest telecom equipment maker” writes Tsinghua University for cnbc.com. It comes at a time when the United States and China are locked in a long-running trade dispute, with market participants increasingly concerned the conflict could spill over into a so-called “tech war.”.  Source: cnbc.com

Read More
GBP News Regulators 

ECB shouldn’t change policy now amid trade war and Brexit concerns, bank CEO says

“The European Central Bank should wait before announcing any new policy changes given that there are so many geopolitical uncertainties in the world, the CEO of the Dutch lender ING told CNBC Wednesday” writes Alex Kraus for cnbc.com. The central bank is due to meet Thursday in Frankfurt after announcing in December the end of its massive bond-buying program. “They should just continue on (the) current path of keeping the policy where it is, just see how things pan out,” Ralph Hamers told CNBC in Davos. Source: cnbc.com

Read More
News 

A fractured internet means we should prioritize safety over global standards, software exec says

“Former Google Chief Executive Eric Schmidt, for example, recently warned the internet would split in two, with one internet led by the U.S. and the other led by China” writes Ryan Browne for cnbc.com. With increasing talk of the U.S. and China’s trade war becoming a war over technology, the boss of one software firm thinks it’s now time to start thinking about putting the safety of consumers over global internet standards.The term refers to a literal splitting of the internet into disparate parts as other countries become increasingly suspicious…

Read More
News 

Singapore braces for tougher times as China slows down and the trade war heats up

“But, as Beijing braces for a continuation of its current slowdown, the Southeast Asian city-state may have to prepare for more challenges” writes Xin En Lee for cnbc.com. The Southeast Asian nation is among the top 10 countries in the world with the highest GDP per capita, according to World Bank statistics.Asia’s largest economy, meanwhile, is also Singapore’s biggest export market.In January, Singapore reported that its economy grew 3.3 percent in 2018 — slower than the 3.6 percent recorded the year before. Source: cnbc.com

Read More
News 

Pompeo voices optimism for good outcome on U.S.-China trade

“The U.S.-China trade war has roiled world financial markets and contributed to a slowdown in global economic growth” reports businessinsider.com. DAVOS, Switzerland (Reuters) – U.S. Secretary of State Mike Pompeo voiced optimism on Tuesday for a good outcome in upcoming trade talks with China and said a superpower conflict between the two nations could be avoided.In reference to the next round of trade talks, scheduled for Jan. 30-31 in Washington, he added: “I am optimistic that we will receive them well and we will have a good outcome from those…

Read More
Markets News Stocks 

Stocks slide after the IMF cut its forecast for global growth amid mounting concerns about the US-China trade war

“Stocks around the world are sliding Tuesday after a gloomy global growth outlook from the International Monetary Fund (IMF) gave investors another thing to worry about” writes Will Martin for businessinsider.com. On Monday, the IMF released its latest forecasts for global GDP growth in the coming two years, and lowered both estimates from previous forecasts.Growth in 2019, the fund said, will be 3.5% globally, while next year it will come in at 3.6%.The two issues have combined to subdue stocks, with major indexes in Asia and Europe falling, and US…

Read More
Brokers News 

US-Sino trade war has made dealing with China ‘more difficult,’ Middle East real estate CEO says

“From an import and an export standpoint, China is a very important trade partner (to the Middle East)” writes unknown author for cnbc.com. A long-running trade war between the world’s two-largest economies is taking its toll on business sentiment in the Middle East, according to the chief executive of real estate and property services firm Majid Al Futtaim. “One thing is for sure, dealing with China is becoming more difficult,” Bejjani added.A trade dispute between the U.S. and China has battered financial markets in recent months, with market participants increasingly…

Read More
Futures News Oil 

Oil prices edge down as global growth worries threaten demand

“SYDNEY (Reuters) – Oil prices edged lower on Tuesday as concerns over global economic growth stoked fears over future demand” writes Midwest Communications Inc for 95kqds.com. However, oil prices were offered some support in the wake of recent data that indicated major exporters were beginning to curtail production.International Brent crude oil futures were down 10 cents, or 0.2 percent, at $62.64 by 0106 GMT. They closed down 0.1 percent on Monday.Also clouding the outlook was data showing a slowdown in growth in China, the world’s second biggest economy.U.S. West Texas…

Read More
News 

IMF cuts global growth outlook, cites trade war and weak Europe

“Risks to global growth tilt to the downside” reports businessinsider.com. The IMF also cut its 2019 growth forecast for developing countries to 4.5 percent, down 0.2 percentage point from the previous projection and a slowdown from 4.7 percent in 2018.The IMF predicted the global economy to grow at 3.5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point respectively from last October’s forecasts.An escalation of trade tensions beyond those already incorporated in the forecast remains a key source of risk to the outlook,” the IMF…

Read More