What happened to the Swiss franc?

| Jan 17, 2015

What happened to the Swiss franc?

One of the world’s safest investments — the Swiss franc — has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limiting the rise of the currency. It may seem like an arcane move, but it’s ...

Jan 16, 2015

Casualties from Swiss shock spread from New York to New Zealand

Casualties mounted from the Swiss currency shock as a U.S. online brokerage said client debts threatened to push it out of compliance with capital rules and a New Zealand-based dealer went out of business. FXCM Inc., a New York-based company that offers foreign exchange ...

Jan 13, 2015

Japan posts fifth straight current account surplus in November

Japan posted a current account surplus for the fifth consecutive month in November as a weaker yen helped boost repatriated returns on foreign investment, official data showed on Tuesday. The surplus was ¥433.0 billion for the month, reversing a deficit of ¥596.9 billion a ...

Jan 9, 2015

Japanese visas issued in Shanghai hit record high in 2014

The Japanese Consulate General in Shanghai said it issued a record 874,077 visas in 2014, a 2.4-fold jump from the preceding year. Behind the surge was the sharp increase in Chinese tourists to Japan spurred partly by the weaker yen, consular officials said. The ...

Dec 27, 2014

Falling oil prices pushing Russia toward recession

Slumping oil prices have put Russia’s economy on course for a sharp recession next year, Finance Minister Anton Siluanov said Friday, as authorities scaled up their bailout for the first bank to succumb to the recent ruble crisis. The economy is slowing sharply as ...

Dec 23, 2014

Crisis-hit Russia's main allies moving closer to Ukraine

Kazakh President Nursultan Nazarbayev followed his Belarusian counterpart to Ukraine on Monday as Moscow’s old allies reassessed their reliance on Russia in the heat of its financial malaise. Both visits were ostensibly made to kickstart stalled peace talks between Kiev and the two Russian-speaking ...

Dec 23, 2014

Russia in grips of 'full-fledged economic crisis,' ex-minister says

Russia’s government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of trouble spreading through the economy. The central bank bailed out its first victim of ...

Dec 17, 2014

Ruble collapse could shake Putin's grip on power

Russia failed to halt the collapse of the ruble on Tuesday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power. A 6.5 percentage point interest rate rise to 17 percent overnight failed to prevent the currency ...