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10 things you need to know in markets today

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10 things you need to know in markets today

Theresa May and Claude Juncker

Getty

Good morning! Here’s what you need to know in markets on Tuesday.

British Prime Minister Theresa May on Monday dismissed an account of a difficult meeting between her and the head of the European Commission as “Brussels gossip,” reiterating that the meeting had gone well. May’s comments came after EC President Jean-Claude Juncker was quoted on Sunday by Germany’s FAS newspaper as saying he was “leaving Downing Street 10 times more sceptical than I was before,” in an account which suggested that he and May did not see eye to eye on a range of issues.

The European Union is laying out plans to grab control of London’s multi-trillion pound euro-clearing market as Brexit talks begin. The Financial Times reports that the “European Commission is preparing to issue legislative proposals in June that would heavily restrict London’s ability” to host clearing activities. 

The head of the World Bank is pushing a terrifying prediction for jobs in developing countries. World Bank president Jim Yong Kim said about two-thirds of jobs in the developing world may be lost to automation. Kim made the comments during a presentation on May 1 at the Milken Institute Global Conference held at the Beverly Hilton.

President Donald Trump told Bloomberg News on Monday that he would be “honored” to meet with North Korean leader Kim Jong Un “under the right circumstances.” “If it would be appropriate for me to meet with him, I would absolutely, I would be honored to do it,” Trump said. “If it’s under the, again, under the right circumstances. But I would do that.”

Trump also said on Monday he was contemplating breaking up the big Wall Street banks. “I’m looking into that right now,” he told Bloomberg about bringing back the “old system” that separated consumer lending and investment banking.  The move would revive a version of the repealed Glass-Steagall Act that was passed in 1933, which required banks to separate commercial deposit banking from investment banking.

Facebook shares hit a record high of $152.46 on Monday. The social media giant is set to release its first quarter earnings on Wednesday, May 3. According to Bloomberg, analysts expect Facebook to earn an adjusted $1.12 per share on revenue of $7.83 billion. Facebook has beaten earnings estimates almost every quarter that it has been publicly traded.

Bitcoin also soared to an all-time high. The cryptocurrency hit an all-time high of $1,456.35 a coin early on Monday. Bitcoin has been moving higher over much of the past week following news that the US Securities and Exchange Commission will reconsider the Winklevoss ETF.

There has been a major executive shake-up at $500 billion global asset manager AllianceBernstein. New York-based AllianceBernstein, which is 64% owned by France’s AXA SA, named JPMorgan Asset Management executive Seth Bernstein as its new CEO and Robert Zoellick, previously president of the World Bank and a former Goldman Sachs executive, as chairman. That’s according to a filing on Monday that offered little explanation for the unexpected changes.

UBS Group paid $445 million to settle claims that the Swiss bank sold toxic mortgage securities that helped sink two federal credit unions, a US regulator said on Monday. The National Credit Union Administration said the payment resolves claims that UBS misled the US Central and Western Corporate credit unions about the risks of roughly $1.15 billion of residential mortgage-backed securities bought in 2006 and 2007.

Maltese Prime Minister Joseph Muscat on Monday called a snap general election for June 3, a year before the end of his term. “I will today be asking the president to dissolve parliament for a general election to be held on Sunday, June 3,” Muscat said at a rally of his Labour Party. Malta currently holds the rotating presidency of the European Union.

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

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Theresa May and Claude Juncker

Getty

Good morning! Here’s what you need to know in markets on Tuesday.

British Prime Minister Theresa May on Monday dismissed an account of a difficult meeting between her and the head of the European Commission as “Brussels gossip,” reiterating that the meeting had gone well. May’s comments came after EC President Jean-Claude Juncker was quoted on Sunday by Germany’s FAS newspaper as saying he was “leaving Downing Street 10 times more sceptical than I was before,” in an account which suggested that he and May did not see eye to eye on a range of issues.

The European Union is laying out plans to grab control of London’s multi-trillion pound euro-clearing market as Brexit talks begin. The Financial Times reports that the “European Commission is preparing to issue legislative proposals in June that would heavily restrict London’s ability” to host clearing activities. 

The head of the World Bank is pushing a terrifying prediction for jobs in developing countries. World Bank president Jim Yong Kim said about two-thirds of jobs in the developing world may be lost to automation. Kim made the comments during a presentation on May 1 at the Milken Institute Global Conference held at the Beverly Hilton.

President Donald Trump told Bloomberg News on Monday that he would be “honored” to meet with North Korean leader Kim Jong Un “under the right circumstances.” “If it would be appropriate for me to meet with him, I would absolutely, I would be honored to do it,” Trump said. “If it’s under the, again, under the right circumstances. But I would do that.”

Trump also said on Monday he was contemplating breaking up the big Wall Street banks. “I’m looking into that right now,” he told Bloomberg about bringing back the “old system” that separated consumer lending and investment banking.  The move would revive a version of the repealed Glass-Steagall Act that was passed in 1933, which required banks to separate commercial deposit banking from investment banking.

Facebook shares hit a record high of $152.46 on Monday. The social media giant is set to release its first quarter earnings on Wednesday, May 3. According to Bloomberg, analysts expect Facebook to earn an adjusted $1.12 per share on revenue of $7.83 billion. Facebook has beaten earnings estimates almost every quarter that it has been publicly traded.

Bitcoin also soared to an all-time high. The cryptocurrency hit an all-time high of $1,456.35 a coin

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early on Monday. Bitcoin has been moving higher over much of the past week following news that the US Securities and Exchange Commission will reconsider the Winklevoss ETF.

There has been a major executive shake-up at $500 billion global asset manager AllianceBernstein. New York-based AllianceBernstein, which is 64% owned by France’s AXA SA, named JPMorgan Asset Management executive Seth Bernstein as its new CEO and Robert Zoellick, previously president of the World Bank and a former Goldman Sachs executive, as chairman. That’s according to a filing on Monday that offered little explanation for the unexpected changes.

UBS Group paid $445 million to settle claims that the Swiss bank sold toxic mortgage securities that helped sink two federal credit unions, a US regulator said on Monday. The National Credit Union Administration said the payment resolves claims that UBS misled the US Central and Western Corporate credit unions about the risks of roughly $1.15 billion of residential mortgage-backed securities bought in 2006 and 2007.

Maltese Prime Minister Joseph Muscat on Monday called a snap general election for June 3, a year before the end of his term. “I will today be asking the president to dissolve parliament for a general election to be held on Sunday, June 3,” Muscat said at a rally of his Labour Party. Malta currently holds the rotating presidency of the European Union.

NOW WATCH: These are the watches worn by the smartest and most powerful men in the world

Please enable Javascript to watch this video

Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

Kredit kepada pemilik laman asal dan untuk meneruskan bacaan di laman asal sila klik link atau copy paste ke web server : http://ift.tt/2pqyO1e

(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!



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