The global oil market may become less calm as the end of 2018 approaches, according to a report from the International Energy Agency. "As oil sanctions against Iran take effect, perhaps in combination with production problems elsewhere, maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion," the IEA said.
Peoples Bank will plant 173 piggy banks with $30 cash in each throughout the communities it serves. The piggy banks, which will be placed Wednesday, encourage those who find them to keep $15 and "pay it forward" with the other $15.
Trade group Innovate Finance says the "global sandbox" launched by the UK's Financial Conduct Authority in cooperation with other global financial regulators could form the basis for cryptocurrency regulation and help the UK maintain its position as a fintech pioneer after Brexit. The US, Canada, Australia, Bahrain, Hong Kong and Singapore are among the participants in the Global Financial Innovation Network.
The Options Clearing Corporation's new clearing fund methods will cut member costs and enhance resiliency by focusing more on risk and better articulating "the type of stresses that we are covering for, and the default scenario we are covering for," says chief risk officer John Fennell.
Some online-trading applications have vulnerabilities that could permit cybercriminals to steal money from their users' accounts, according to a report from IOActive. Ten of the 80 applications tested stored passwords in unencrypted form, a weakness that could give hackers account access, the report said.
The pace at which crypto investment funds are being created is picking up even though some regulatory decisions remain to be made and cryptocurrency prices are depressed. A Crypto Fund Research analysis suggests the launch rate will reach 165 in 2018, ahead of 2017's record of 156.
Financial institutions in the UK are looking at novating derivatives contracts in preparation for Brexit. However, such a move might jeopardize contracts that enjoyed grandfathered status under the European Market Infrastructure Regulation.
The global financial markets came under pressure as the Turkish lira plummeted to a new low. A growing concern is the potential for the falling lira to weaken European banks.
Portfolios emphasizing firms with higher environmental, social and governance scores outperform their benchmarks by up to 243 basis points and perform better financially, an Axioma study found.
About 17% of pension funds in Europe are considering the risks to investment of climate change, up from 5% last year, while regulators press for faster action.
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