Citigroup Inc. could lose as much as $7 billion on currency swings if Charles Peabody is right, putting the analyst at odds with peers who say the stock will be the best performer among big U.S. banks in the year ahead.
Bank of Canada Deputy Governor Timothy Lane said the easy monetary policy of central banks in the U.S., Europe and Japan is boosting global demand and more than offsets the impact of currency swings in other countries.
On the eve of the American Civil War, Abraham Lincoln famously said that “a house divided cannot stand.” Today, the European Union -- committed for decades to the quest for “ever closer union” -- must confront an agonizing truth. Lincoln’s maxim must be inverted. For the EU to survive, the euro must divide.
Government bonds should be excluded from the European Union’s planned financial-transaction tax because the levy would drive up sovereign borrowing costs, a panel of European debt-management officials said.
Air India Ltd., the carrier which pays more interest on its debt than any publicly traded Asian airline, plans to borrow $300 million from overseas to repay costlier rupee obligations, according to a company official.
Swiss insurers, including Zurich Insurance Group AG and Swiss Life Holding AG, may lobby the government to sell more long-term bonds as new solvency rules force them to match life insurance liabilities.