February 11, 1991 |
JAPAN: Three U.S. securities firms are gearing up to compete in a Tokyo foreign exchange market that has already exacted a heavy toll on foreign banks. Japan's Ministry of Finance paved the way for Salomon Bros., Goldman, Sachs & Co. and Morgan Stanley to start currency trading by granting their European banking subsidiaries branch status. The three will avoid trying to battle the major Japanese banks that dominate the Tokyo market.
November 25, 1991 |
Many foreign stock markets have shown surprisingly small reactions to Wall Street's recent turbulence--a good reminder of the benefits of international investment diversification. While the Dow Jones industrial average has fallen 5.2% since Nov. 14, including the 120-point plunge on Nov. 15, the Hong Kong stock market has actually risen 0.8% in that period, as measured by the blue chip Hang Seng index. How a few other key markets fared: * German stocks have barely budged.
March 28, 1991 |
The dollar, until last month the 98-pound weakling of the world's major currencies, has unpredictably recouped all its substantial losses of the past year against the once-mighty German mark. Before slipping slightly, the dollar shot up another three pfennigs Wednesday alone to nearly 1.72 marks, territory not reached since March, 1990. The dollar also gained ground, although not so much, against the Japanese yen, the world's other major currency.
November 25, 1991 |
Bond yields of 10% to 15% in many foreign countries are a continuing lure for American investors, who figure those yields handily beat 7% returns on U.S. Treasury bonds. But last week, a big U.S.-based fund that invests in foreign bonds omitted its fourth-quarter dividend--angering and confusing shareholders. The fund, the New York-based Global Yield Fund, is a "closed-end" mutual fund: It has a fixed number of shares outstanding, and they trade on the New York Stock Exchange.
September 25, 1992 |
The number of currency trades made each day in the United States has skyrocketed, the Federal Reserve said Thursday in a report likely to fuel fears that volume is getting too high for governments to maintain order. According to the report, issued by the Federal Reserve Bank of New York, average daily foreign-exchange volume has leaped to $192 billion since 1989, up 49% from 1989.
July 13, 2008 |
Although U.S. cartoonists are far from running out of gas on energy policy, oil exploration and the conservation conversation, it never hurts to check out the foreign competition. Singapore's Heng Kim Song drove home his point -- in an 18-wheel tanker. Austria's Petar Pismestrovic contemplated a grim high-stakes game of food and fossil fuels. But Kenya's Gado really put things in perspective with his blood-for-oil gas-line image.