Company News by ForexMart

[Andrea ForexMart]

Wells Fargo Temporarily Banned from Municipal Bond-Issuer California

The State of California will be suspending business relationships with banking firm Wells Fargo & Co. after the said firm went under fire for admitting that it had created millions of fake customer accounts in an attempt to hit the firm’s target sales. By banning the said firm, California will no longer be allowing Wells Fargo to handle its bank transactions and underwrite the state’s debt. The said suspension will be in effect for a total of 12 months and might possibly become permanent if the bank still refuses to change its banking practices. In addition, California will also be halting its investment deposits in Wells Fargo’s securities. State Treasurer John Chiang has already stated that California has replaced Wells Fargo with Loop Capital for two $527 million municipal agreements which is scheduled to be sold next week.

[Andrea ForexMart]

The current Money Fall contest has already started on October 3, 2016 and will end on October 7, 2016.

You can register for the next competition which will take place from October 10, 2016 to October 14, 2016 (Terminal time). .

Note:

Registration for the next competition finishes 1 hour before the contest starts.

[Andrea ForexMart]

Use the most powerful, easy-to-use platform when trading forex. MetaTrader 4 enables you to track few charts simultaneously, trade directly from the chart, place orders, and manage multiple orders. The software is free and easy to install.

* Supports several trade size allocation methods
* MetaTrader 4
* Over 40 technical indicators
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185x185_banner1.png (53.56 KiB) Viewed 11393 times

[Andrea ForexMart]

The current Money Fall contest has already started on October 10, 2016 and will end on October 14, 2016.

You can register for the next competition which will take place from October 17, 2016 to October 21, 2016 (Terminal time). .

Note:
Registration for the next competition finishes 1 hour before the contest starts.

[Andrea ForexMart]

Volkswagen Plans to Reduce Workforce Yearly

Top management of Volkswagen may reduce around 2,500 jobs every year for the span of 10 years through early retirement. This is a step for the plan to cut expenses as a future strategy without dismissing thousands of workers abruptly. On the other hand, they are in need of additional workforce for “software development and mobility services” to counteract the Diesel Emission scandal saying they cheated on their pollution emission tests in US.

[Andrea ForexMart]

The exports and imports in China fell short of expectations as it dropped by 10% and 1.9% respectively in US dollars. This was triggered by a weak demand both domestically and internationally affected by the price hike in oil. Although in China’s perspective this became an advantage with higher returns. For analysts this is a sign for a slow growth in the economy but it is still inconclusive to say unless there is another substantial report that confirms slow development.

[Andrea ForexMart]

The current contest has already started on October 24, 2016 and will end on October 28, 2016.

You can register for the next competition which will take place from October 31, 2016 to November 4, 2016 (Terminal time)

Note:
Registration for the next competition finishes 1 hour before the contest starts.

[Andrea ForexMart]

EU Exporters Could End Up Paying Higher Tariffs to EU Than Vice Versa

EU enterprise exporting goods would pay higher tariff to Uk compared to the other way around. Around £12.9 billion are to be paid by EU enterprises just on tariffs alone after UK leaving EU and should Britain come in terms with the World Trade Organization. In exchange, UK enterprise exporters has to pay around £5.2 billion for tariff in a year. This implies the significance for both parties to settle their post-Brexit trade deal. A study has been conducted showing 22 out of 27 EU members are found out to pay higher tariffs regarding exports to UK.

Additionally, the act of Belgium to not agree regarding the Comprehensive Economic and Trade Agreement (Ceta) between EU and Canada which has been an issue recently. Nevertheless, a representative of the campaign, Chris Grayling, said that this would not be a hindrance to settle an agreement with the British trade deal with EU.

[Andrea ForexMart]

China Reassures Investors to Impede a Six-year Low


Chinese Yuan is depreciating nearing a record low in six years. The government is finding ways to hinder the process and recover from this impending threat. However, the deputy Governor of People’s Bank of China (PBOC) said that there is no grounds for a relentless decline and they stopped it from happening.


China is giving off signs that the currency is being carefully monitored and investors should be careful in their trading positions against the currency. Despite this information, this would have much of an impact considering past connotations to the problem since the driving force is the appreciation of dollar.


The PBOC is saying if volatility arises, investors should not be agitated as they would definitely do something to stabilize the situation. China has already eased the local bonds and abandoned the necessity for inbound investment program quotas.

[Andrea ForexMart]

Demand for Manufactured Capital Goods Weakened


The manufactured capital goods from America fell by 1.2% in September despite three consecutive months of gains. The demand for computers and other electronic products slowed down which is expected to affect business spending in the last quarter of the year.


Demand for new heavy machineries has been reduced because of the predominance of used construction equipments while the demand for transportation equipments declined by 0.8% that impelled durable goods lower by 0.1%. On the other hand, orders for electrical equipments and machineries including appliances has risen last month. However, this may shift course to a better predicament since the dollar appreciated as well as the oil and gas drilling activity has improved in the past months.