Saturday 16 November 2019

OECD: 'Buy bonds'

THE Bank of England should buy more bonds and the British government's fiscal policy should be flexible if Britain's economy remains weak, the OECD has said.

It added that monetary policy should be the primary tool to help the economy past short-term weakness. The Paris-based think tank forecasts Britain's economy will grow by 0.9pc this year after shrinking 0.1pc in 2012.

DB suspensions

DEUTSCHE Bank has suspended five traders suspected of inappropriate conduct following an internal investigation into possible manipulation of the Europe Interbank Offered Rate (Euribor).

Germany's flagship lender launched an internal investigation after regulators drew attention to potential involvement of Deutsche Bank staff in a global scam to manipulate benchmark inter-bank lending rates.

Barroso speech

EMPLOYERS' group IBEC said yesterday that European Commission President Jose Manuel Barroso will address the IBEC CEO Conference in the Convention Centre, Dublin, on February 28.

Mr Barroso will join the Taoiseach and Irish and international business leaders at the country's premier business event. Another high-profile speaker at the event will be Leif Johansson, chairman of Ericsson.

Time Warner up

TIME Warner reported fourth-quarter net income that beat estimates yesterday, while the media company raised its dividend and started a new stock repurchase programme, sending shares higher.

Time Warner, which owns CNN, TNT and HBO and a movie studio, said it is raising its quarterly dividend by 11pc to $0.2875 per share.

Oil dips to $95

THE price of oil fell to near $95 a barrel as a report suggested rising crude supplies in the US.

By yesterday afternoon in Europe, benchmark crude for March delivery was down $1.34 to $95.30 a barrel in trading on the New York Mercantile Exchange. The contract rose 47c to finish at $96.64 a barrel earlier.

Banks' reprieve

BANKS may win a partial reprieve from EU proposals to parachute outside managers into lenders deemed at risk of failure.

Some EU nations are concerned that empowering regulators to send in these so-called special managers could "hasten the decline" of struggling banks.

Irish Independent

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