Britain's banks will have to raise 13 billion pounds of extra capital and meet new a new cap on lending ahead of international peers as the Bank of England seeks to curb risk in the financial sector. Full Article
LONDON - Retail sales bounced back much more than expected in May, adding to evidence of accelerating economic growth in the second quarter and easing some of the pressure on the central bank to boost the economy.
NEW DELHI - India has launched a wide-ranging surveillance programme that will give its security agencies and even income tax officials the ability to tap directly into e-mails and phone calls without oversight by courts or parliament, several sources say. Full Article
PARIS - Orders at the Paris Airshow surpassed $100 billion, as rivals Boeing and Airbus cash in on demand for fuel-efficient jets. Ryanair finalises an order for 175 Boeing 737-800 aircraft worth around $15.6 billion at list prices. Full Article | Video
June 20 - The Fed hasn't yet slowed down the QE cashflow, but it has changed the emotional tone. Forget the old risk-on, risk-off dichotomy, it's all about wild flight now.
Hassan Rohani's election is a reset: direct bilateral discussions with the U.S. are now quite likely. The sanctions coalition will find it much harder to hold firm when faced with an Iranian president on a charm offensive instead of one who is easy to hate. Commentary
In cash terms, the manipulation of supposedly objective reference rates and prices is a petty crime: relatively small gains for a few and microscopic losses for many. Ethically, though, the tolerance of untrustworthy behaviour makes the industry look particularly bad. Commentary
Here’s one sign the global elite is starting to get worried that capitalism isn’t working for the Western middle class. At the TED Global gathering in Edinburgh this week, much of the spotlight was on what’s going wrong with the 21st-century economy. Commentary
PM Tayyip Erdogan’s harsh actions against protestors could backfire economically. Turkey depends on foreign investors to fund its big current account deficit. If they turn tail, interest rates will rise, hurting the economy and undermining one of Erdogan’s sources of popularity. Commentary
RAQQA, Syria - An important shift is underway in rebel-held Syria. Using a mix of intimidation and organisation, alliances of Islamist brigades are filling the vacuum in areas where Assad's army has withdrawn and more secular rebels have failed to provide order. Full Article | Read in PDF
The U.S. Federal Reserve hasn't yet slowed down the QE cashflow, but it has changed the emotional tone. Forget the old risk-on, risk-off dichotomy, it's all about a wild flight now. Video