Latest news with #market turmoil
Reuters
5 days ago
- Business
- Reuters
VIEW Investors on Japan's upper house election outcome
SINGAPORE, July 20 (Reuters) - Japan's ruling coalition possibly lost its majority in the upper house, exit polls showed after Sunday's election, potentially heralding political and market turmoil as a deadline looms on tariff negotiations with the United States. While the ballot does not directly determine whether Prime Minister Shigeru Ishiba's shaky minority government falls, it may imply either policy paralysis or a bigger fiscal deficit depending on what the ruling party does next and how strong the opposition becomes. QUOTES: RONG REN GOH, PORTFOLIO MANAGER, EASTSPRING INVESTMENTS, SINGAPORE: "The risk of coalition loss is well appreciated, and arguably priced in -- weaker yen, higher yields. We probably focus attention towards how the fiscally dovish parties do, to see whether the trade has more legs. "Now we have got to see who won the seats from them and the two parties markets probably will be focused on are the DPP and Sanseito. "But there are other drivers coming on the horizon for the yen, for example, the trade negotiations between the U.S. and Japan with the August deadline. "I think the difficulty comes from the rest of the parties forming another coalition but I'm admittedly not a political expert here and I don't know how easy it will be for the government to open the spigot. I suspect these are issues we will not have visibility on in the immediate future."
Times
17-07-2025
- Business
- Times
Argentex crisis deepens after FCA orders it to suspend trading
The crisis engulfing Argentex has intensified after the stricken currencies business, which fell victim to the market turmoil caused by President Trump's tariffs, was forced to stop trading by the City regulator. Argentex warned on Thursday that it had failed to secure much-needed financing, which meant its main subsidiary had fallen short of obligations agreed with the Financial Conduct Authority last month. As a result, the business has halted all commercial activity and its shares have been suspended from trading at 2¾p. It is the latest blow for the London-based foreign exchange group, which was thrown into turmoil in April by the plunge in the US dollar when the White House stunned global financial markets with its sweeping 'liberation day' tariffs. Argentex helps corporate clients to hedge their currencies exposure but the violent market moves laid bare weaknesses in its business model. Its shares tumbled and it averted disaster only by agreeing to sell itself to IFX Payments for about £3 million, having been valued at £120 million just six years ago when it listed on London's junior Aim market. The sale to IFX has yet to complete, however, and it was unclear on Thursday night how the halt to its operations would affect the deal. A spokesman for IFX was approached for comment. Argentex had almost 200 employees as of the end of last year and until recently counted Lord Jones of Birmingham, better known as Digby Jones, who was once the head of the Confederation of British Industry, as a non-executive board member. Jones left in May amid a wider boardroom exodus. The company is being run by Tim Rudman, its former chief operating officer, who replaced Jim Ormonde as chief executive in April, only hours before the IFX rescue deal was announced. IFX has extended two loan facilities to Argentex, of £26.5 million and £10.5 million. Argentex had also been seeking a further credit line to ensure it adhered to the measures its main subsidiary had agreed under last month's so-called 'voluntary requirement' with the regulator, which had curtailed its trading activities and placed liquidity conditions on the business that Argentex was meant to have satisfied by Tuesday this week. Another requirement, blocking it from disposing of its own assets without the regulator's permission, was also put in place last week. Argentex said on Thursday that it had expected to meet the liquidity conditions through 'the provision of an additional secured revolving credit facility'. 'The company has not been able to secure that additional funding, nor does the company have any other source of alternative funding or liquidity available to it, in the near future.' This means its main subsidiary is required to put a stop to its business until the voluntary requirement is met.
Forbes
14-07-2025
- Business
- Forbes
Wealthy Investors Want AI-Driven Financial Guidance, New Data Shows
Amid market turmoil, high-net-worth individuals (HNWIs) are showing less faith in their financial advisors. Among the 71% who use an advisor, only a third are completely satisfied with their advisor's performance in the last year, according to the Forbes Research 2025 High Net Worth Survey, which was fielded between April and May. The study surveyed 250 people globally with over $2 million in investable assets. New Forbes survey data reveals that high-net-worth individuals are seeking AI-driven tools and ... More high-tech financial advice. So, which investing skills and tools do the wealthy value now? For one thing, they're looking for advisors who leverage advanced technology, such as artificial intelligence. Ahead, explore the survey's key findings on how HNWIs' investing and financial advisor priorities are changing. What's Driving The Decline In Investor Confidence? Forbes asked respondents if recent market volatility has increased their trust in their financial advisor to take a more active role in managing their portfolio. A little over half of respondents said yes, down from 89% last year. In addition to decreased trust, overall investor dissatisfaction extends to other areas of HNWIs' wealth strategies, with respondents expressing lower confidence in their estate plans (down 24%), tax efficiency (down 28%) and inflation-proofing (down 41%), compared to 2024. The Edge For Investors: Innovation As The New Standard The data revealed that HNWIs are recalibrating their definition of a 'good financial advisor,' with innovation influencing their new standard. Among the wealthy, the modern expectation for financial expertise is increasingly AI-driven, forward-looking and proactive. HNWI are also integrating AI into their own strategies to stay ahead of market trends and make more informed decisions. A staggering 97% now use AI-driven tools in their investment strategies, up from 74% in 2024. Wealthy investors are not only placing trust in disruptive technologies; they also view innovation as essential to keeping up in today's uncertain economic times.
