German Chancellor Angela Merkel and French President Emmanuel Macron have promised to work together to financially overhaul the eurozone, with a goal of producing a road map by June. Macron is a strong proponent of change and wants a single eurozone budget, while Merkel appears less enthusiastic.
UK Chancellor Philip Hammond is expected to unveil a financial-technology strategy Thursday. The plan includes a task force involving the Bank of England, the Financial Conduct Authority and the Treasury.
Jerome Powell's first policy meeting as chairman of the Federal Reserve is likely to result in an interest-rate increase to 1.5% to 1.75%, market forecasters say. This week's meeting "could set the tone for the rest of this year and beyond, and investors will be wondering whether Mr. Powell sanctions a more aggressive stance than the markets currently expect," says Russ Mould of AJ Bell.
The semiconductor sector has made an outstanding start to the year, but technical analyst Serge Berger singles out Intel as a likely candidate for a near-term pause. Longer-term prospects remain healthy, Berger writes, but Intel's chart has started to indicate a bearish reversal, an occurrence that prompted a 17% decline in January.
Lawyers and retirement industry experts have expressed myriad opinions on the likely fate of the Labor Department's fiduciary rule after it was vacated by the US Court of Appeals for the 5th Circuit. The US Court of Appeals for the 10th Circuit has upheld a portion of the rule, potentially positioning the issue to go to the Supreme Court.
A UK parliamentary committee says the government should consider a longer Brexit transition than the one Prime Minister Theresa May has proposed. The committee says more time might be needed to negotiate a partnership between the UK and the EU.
The key risk for offshore banks doing business within the US is money laundering, says Vance Price, a deputy comptroller at the US Office of the Comptroller of the Currency. Banks' internal controls aren't keeping up with techniques criminals use to launder money, he says.
Asian-Pacific stock markets were mixed Monday as traders anticipated the Federal Reserve's March policy meeting. Japan's Nikkei 225 dropped 0.9%; Hong Kong's Hang Seng Index was flat; Australia's S&P/ASX 200 moved up 0.2%; China's Shanghai Composite added 0.3%; South Korea's Kospi lost 0.8%; and India's Sensex was down 0.7%.
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