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IMF official says China's growth could beat forecast in 2015
October 28, 2015 MONEY (MSM)

IMF official says China's growth could beat forecast in 2015

China’s economy could overshoot the International Monetary Fund’s forecast and grow close to 7 percent this year although the outlook for the medium term is more uncertain, a senior IMF official said on Wednesday. Changyong Rhee, director of the IMF’s Asia and Pacific Department, said potential spillovers from China to other regional economies were larger than expected. China’s growth rate of 6.9 percent between July and September meant the country

October 28, 2015 MONEY (MSM)

Oil up $2, extending rally after neutral EIA crude build report

Oil was $2 a barrel higher on Wednesday after the U.S. government reported a crude inventory build squarely within market expectations, extending gains after an earlier rally triggered by what the market described as a big algorithmic trade. The U.S. Energy Information Administration (EIA) said crude stockpiles rose 3.4 million barrels last week, matching analysts’ expectations in a Reuters poll.

Barclays to pay new chief Staley up to $12.6 million a year
October 28, 2015 MONEY (MSM)

Barclays to pay new chief Staley up to $12.6 million a year

Barclays will pay incoming chief executive James “Jes” Staley up to 8.24 million pounds ($12.6 million) a year after appointing the former JPMorgan investment bank boss to one of the most prominent posts in British business. Staley will join Barclays at the start of December, having been widely expected to be appointed after sources and media reports said he had been chosen pending regulatory approval. American-born Staley, 58, faces challenges

Icahn asks AIG to split to avoid 'too-big-to-fail' tag
October 28, 2015 MONEY (MSM)

Icahn asks AIG to split to avoid 'too-big-to-fail' tag

Icahn’s campaign highlights how some large financial companies are being given an incentive to break up as regulators impose costs on them in the wake of the financial crisis. A global task force, the Financial Stability Board, is due to update next month its list of insurance companies deemed to be “systemically important”. The tag indicates regulatory concerns that a company’s failure might imperil the financial system.

Icahn asks AIG to split to avoid 'too-big-to-fail' tag
October 28, 2015 MONEY (MSM)

Icahn asks AIG to split to avoid 'too-big-to-fail' tag

Icahn’s campaign highlights how some large financial companies are being given an incentive to break up as regulators impose costs on them in the wake of the financial crisis. A global task force, the Financial Stability Board, is due to update next month its list of insurance companies deemed to be “systemically important”. The tag indicates regulatory concerns that a company’s failure might imperil the financial system.