Connect with us

News

Husband, 63, strangled, stabbed & bludgeoned wife to death with hammer before taking own life in horrific murder-suicide

Published

on

Husband, 63, strangled, stabbed & bludgeoned wife to death with hammer before taking own life in horrific murder-suicide

A HUSBAND strangled, stabbed and bludgeoned his wife to death before taking his own life in a horrific murder suicide, an inquest heard.

Richard Parks, 63, and wife Suratchanee ‘Lat’ Parks, 53, were discovered inside their home in Tunbridge Wells, Kent.

Suratchanee ‘Lat’ Parks was killed by her husband who then took his own life

4

Suratchanee ‘Lat’ Parks was killed by her husband who then took his own lifeCredit: Facebook

An inquest heard how tree surgeon Parks had horror stab injuries to his neck and was found with a knife in his hand.

Advertisement

His nail bar worker wife was discovered in the bath with neck wounds consistent with being strangled, Kent Online reports.

Lat also had multiple knife injuries and had been bludgeoned with a hammer.

Pathologist Dr Virginia Fitzpatrick-Swallow told the court she had other injuries that suggested she had tried to fight her husband off.

The court was told the pair had met in Thailand where Lat already had a son and later moved to the UK.

Advertisement

They had recently bought a home in Lat’s native country and were hoping to retire there soon.

The couple’s marriage was described as “happy and without problems” but Parks had recently become anxious after receiving a large tax bill from HMRC.

He had also been “struggling with his mental health” and was forced to delay the move to Thailand, it was said.

On February 23, loved ones had gone to the three-storey home after growing concerned for the couple’s welfare.

Advertisement

Neighbours heard “hysterical” screams after they discovered Parks and Lat dead inside.

How you can get help

Women’s Aid has this advice for victims and their families:

  • Always keep your phone nearby.
  • Get in touch with charities for help, including the Women’s Aid live chat helpline and services such as SupportLine.
  • If you are in danger, call 999.
  • Familiarise yourself with the Silent Solution, reporting abuse without speaking down the phone, instead dialing “55”.
  • Always keep some money on you, including change for a pay phone or bus fare.
  • If you suspect your partner is about to attack you, try to go to a lower-risk area of the house – for example, where there is a way out and access to a telephone.
  • Avoid the kitchen and garage, where there are likely to be knives or other weapons. Avoid rooms where you might become trapped, such as the bathroom, or where you might be shut into a cupboard or other small space.

If you are a ­victim of domestic abuse, SupportLine is open Tuesday, Wednesday and Thursday from 6pm to 8pm on 01708 765200. The charity’s email support ­service is open weekdays and weekends during the crisis – messageinfo@supportline.org.uk.

Women’s Aid provides a live chat service – available weekdays from 8am-6pm and weekends 10am-6pm.

Advertisement

You can also call the freephone 24-hour ­National Domestic Abuse Helpline on 0808 2000 247.

Police found blood stains in the kitchen, hallway, living room and on the stairs.

There was also a red folder on the floor that contained a large sum of cash, as well as a chainsaw and pruning saw in the bathroom.

Investigating officer Detective Constable Jessica Summers said police concluded there was no third party involvement.

Advertisement

Coroner Roger Hatch ruled that Lat was unlawfully killed and that her husband had taken his own life.

Parks’ brother Robert Parks said: “This is a terribly sad situation. Only those two will ever know exactly what happened.

“They loved each other very much and he was looking forward to going to Thailand – it’s just terribly sad for both families.”


If you are affected by any of the issues raised in this article, please call the Samaritans for free on 116123.

Advertisement

Lat had moved from Thailand to the UK

4

Lat had moved from Thailand to the UKCredit: Facebook
She worked at a nail bar in Tunbridge Wells

4

She worked at a nail bar in Tunbridge WellsCredit: Facebook
A coroner ruled she was unlawfully killed

4

A coroner ruled she was unlawfully killedCredit: Facebook

Source link

Advertisement
Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Travel

New Nickelodeon Land to open at ‘Turkish Disneyland’ next year – with Paw Patrol rides and Spongebob attractions

Published

on

Nikelodeon Land and Nikelodeon Hotel & Resorts in Antalya will open at the beginning of next year

A POPULAR theme park in Turkey will be home to a new Nickelodeon Land when it opens next year.

Dubbed Turkey’s answer to Disneyland, the gates to Nickelodeon Land and Nickelodeon Hotel & Resorts will open at Antalya’s The Land of Legends in January.

Nikelodeon Land and Nikelodeon Hotel & Resorts in Antalya will open at the beginning of next year

5

Nikelodeon Land and Nikelodeon Hotel & Resorts in Antalya will open at the beginning of next year
The outdoor pool area features an Aqua Tower, Spray Area and in true Nickelodeon style, a chance to be Slimed

5

Advertisement
The outdoor pool area features an Aqua Tower, Spray Area and in true Nickelodeon style, a chance to be Slimed
The rooms at the hotel are in the theme of Nikolodeon legends, like Spongebob SquarePants

5

The rooms at the hotel are in the theme of Nikolodeon legends, like Spongebob SquarePants

The park will consist of three unique areas; the underwater Bikini Bottom from SpongeBob SquarePants, intergalactic Star Trek: Wild Galaxy, based on Star Trek: Prodigy, and the open-air Adventure Bay PAW Patrol. 

Guests will be able to enjoy a range of experiences such as “riding the giant Jellyfish Jam swing” in Bikini Bottom, to experiencing an adventure through space in the Star Trek: Wild Galaxy 5D cinema.

At the Nickelodeon-themed hotel, each guest can continue to enjoy hanging out with their favourite Nikelodeon legends.

Advertisement

The hotel rooms have been specially designed in one of five concept themes – DORA, PAW Patrol, SpongeBob SquarePants, Teenage Mutant Ninja Turtles and Star Trek.

Each room is complete themed interiors such as Spongebob bedside tables as well as kid-friendly facilities to make each member of the family feel at home.

Younger guests will also be looked after with an array of experiences on offer at the hotel.

There’s Character Dining to Club Nick, where kids can play, learn and develop with their new friends.

Advertisement

The outdoor pool area features an Aqua Tower, Spray Area and in true Nickelodeon style, a chance to be Slimed.

Away from the family areas, parents can find the time to switch off at Anjana Spa.

Inside which will offer holistic therapies, massages and traditional Turkish Hammam or let off steam in the hotel’s fully-equipped gym with yoga and Pilates studios.

Universal reveal huge on-site hotel opening and new Epic Universe theme park

The park experience begins at the iconic Chateau in The Land of Legends Shopping Avenue, the centre of nightly entertainment.

Advertisement

Guests can mingle with their favourite Nickelodeon characters and shop for souvenirs, including clothes, mugs, keyrings and toys.

The new park and hotel will open on January 15th.

The Land of Legends in Antalya already has three parks – Adventure Land, Aqua Land, and Tropic Lagoon.

Adventure Land is full of adrenaline-inducing rides, like Typhoon Coaster, Skyfighter and Hurricane,

Advertisement

Aqua Land has a host of water-themed rides, including 40 water slides.

Use these tips on your next theme park trip

Next time you visit a theme park, you may want to use our top tips to make the most of your adrenaline-inducing day out.

  1. Go to the back of the theme park first. Rides at the front will have the longest queues as soon as it opens.
  2. Go on water rides in the middle of the day in the summer – this will cool you off when the sun is at its hottest.
  3. Download the park’s app to track which rides have the shortest queues.
  4. Visit on your birthday, as some parks give out “birthday badges” that can get you freebies.
  5. If it rains, contact the park. Depending on how much it rained, you may get a free ticket to return.

And Topic Lagoon has one of the world’s longest water slides, a heated pool, wave pool, and plenty of sunbathing areas for relaxing.

The Land of Legends is also located close by to the beachside resort of Belek, with sister properties, Rixos Premium Belek and Rixos Park Belek, for those wanting a day relaxing by the ocean.

The Sun’s Kate Ferguson recently visited the park.

Advertisement

She said: “Known among Brits as “the Turkish Disneyland” it has dare-devil rides and water park attractions that would satisfy the biggest thrillseekers.

“There are six pools on site — the massive one just behind the beach which tends to be where families decamp for most of the day.

“When they’re not at the pool, little ones and teens can head to The Rixy Kids Club, jam-packed with activities like arts and crafts, kids’ yoga and boxing, film showings, mini discos . . . the list goes on.”

Here’s everything else you need to know about the hotel.

Advertisement
The park has three areas, one of which is Spongebob SquarePants themed

5

The park has three areas, one of which is Spongebob SquarePants themed
Another area of the park is themed on PAW Patrol

5

Another area of the park is themed on PAW Patrol

Source link

Advertisement
Continue Reading

Business

Austrian far right set for comeback with nod to Nazi past

Published

on

Just a stone’s throw away from Vienna’s Stephansdom cathedral, the Austrian far right has put up its campaign billboards with a religious verse next to the giant portrait of their leader, Herbert Kickl: “Thy will be done.”

It is a biblically-inspired profession of democratic humility, insists Kickl’s Freedom party (FPÖ). But Kickl is a strong critic of the Catholic Church and his opponents detect more sinister resonances: “Thy kingdom come”, the preceding verse of the Lord’s prayer translates as: dein Reich komme.

Such ambiguities, which tilt at, and sometimes overtly borrow from, the language of Austria’s dark Nazi past, have been a hallmark of the FPÖ’s electioneering this summer.

This Sunday, the FPÖ is facing a potentially historic electoral breakthrough. For the first time in postwar Austrian history, it is expected to beat the other parties to first place at the ballot box.

Advertisement

Its supporters hope that such a victory could even propel Kickl — who also calls himself Volkskanzler or people’s chancellor, a phrasing used by Adolf Hitler — into the top job.

Just five years ago, when the country last held parliamentary elections, the FPÖ’s popularity was in tatters. Its leadership was shamed by a corruption scandal that forced it out of a coalition government.

Now, opinion polls put it on course to secure 27 per cent of the vote, narrowly beating the mainstream conservative People’s party — the dominant force in Austrian politics for the past 70 years — which currently governs in partnership with the Greens.

The FPÖ has achieved this comeback under Kickl by pursuing a political platform that has tacked hard to the right, as its provocative sloganeering attests.

Austria’s even more extreme identitarian movement, which the FPÖ’s previous leadership deemed too toxic because of its views on racial and cultural purity, was just a “rightwing NGO” in the orbit of the party in the same way that Greenpeace was for the Greens, Kickl said last year.

His party has since embraced identitarian concepts such as remigration — sending people with a migrant background, even if they are Austrian citizens, back to their origin country.

“The thinking used to be that to be part of government, you had to make yourselves palatable to the political centre. Kickl hasn’t followed that logic one bit,” said Bernhard Weidinger, a specialist on rightwing movements at the Documentation Centre of Austrian Resistance, a historical research institute.

“He has taken an increasingly hardline ideological course and the interesting thing is, it seems to be working.”

Advertisement

Weidinger said that when Kickl took over the leadership of the party in 2021, people doubted he would appeal to voters beyond his hardcore base. The polls have been telling a different story.

A cyclist passes Freedom party election posters in Vienna
Freedom party election posters in Vienna © Elisabeth Mandl/REUTERS

In 2023, Austria had the fifth-largest gross domestic product per capita in the EU, and the ninth-lowest score on the Gini index, a measure of income inequality. Despite a mild recession last year and persistent inflation, its economy is otherwise robust and growing, its welfare system one of the best resourced in the world and its unemployment rate is touching historic lows.

The FPÖ’s resurgence, analysts note, seems to belie the notion that populism is a protest vote or a product of economic disenfranchisement.

Kickl has appeared to mobilise support thanks to a deeper set of social anxieties and grievances for which pollsters lack a full explanation, though they believe it has been stoked by rapid technological and social change in recent years that has destabilised many people’s sense of identity.

Opposition to illegal immigration — which hit its highest-ever level in Austria in 2022 — remains at the centre of the FPÖ’s appeal, but it is no longer the all-encompassing topic it once was for the party. It gets its first mention on page 17 of the manifesto.

Advertisement

“Immigration is still at the core of FPÖ concerns, but Kickl has also created a whole theme park of other ideas that reinforce two key messages,” said Thomas Hofer, an Austrian political consultant. “[Namely] that they are the party of the ‘real’ Austrian people, and that they are the party of freedom.”

One topic instrumentalised with apparent success, to the surprise of political analysts, was the Covid-19 pandemic.

Conspiracy theories regarding the spread of the virus, criticism against mandatory vaccination and governments’ alleged authoritarian use of lockdowns have featured prominently in the FPÖ’s campaign. The pandemic was also the first topic Kickl raised in his recent TV debate with the current chancellor, Karl Nehammer.

Karl Nehammer, left, and Herbert Kickl at a pre-election TV debate
Karl Nehammer, left, and Herbert Kickl at a pre-election TV debate © Joe Klamar/AFP via Getty Images

“Never forget,” the party literature declares, inviting Austrians to recall the trauma of the pandemic years.

“The pandemic has had a very strange collective impact on politics I don’t think we have really fully appreciated yet,” said Marcus How, head of research at VE Insight, a Vienna-based political risk consultancy. “The FPÖ has been very good at really mobilising the heterodox thinking which the pandemic fuelled.”

Advertisement

What seemed like “electoral suicide” to many in the political mainstream, said How, recalling Kickl’s promotion of horse medication as a cure for Covid, conspiracy theories and strident opposition to government fiat, actually turned out to be a foundation for building support among an entirely new constituency of voters from across the political spectrum.

Chief among them was the young — the demographic group most affected by pandemic-era restrictions and least in need of them. In regional elections in June, the FPÖ was the most popular political party among 18 to 29 year olds.

Kickl has also depicted the war in Ukraine as mainstream political do-goodery gone mad, threatening to draw Austrians into a conflict against their will. He argues that “climate communism” is taking away the choice for people in rural areas to buy affordable cars, while “woke” culture is policing the liberty to joke among friends in the pub.

Born in a working-class family in the southern Austrian state of Carinthia, Kickl has been a life-long outsider in a country where political success is typically built with family connections and through backdoor deals. Even in his party, Kickl never easily fitted in either of its main ideological wings and their associated networks of clubs and fraternities: the libertarians and the German nationalists.

Advertisement

A dropout of journalism and philosophy studies, his ascent through the ranks of the FPÖ was propelled by his talent for political communication. He became speechwriter to the FPÖ’s most successful leader, the flamboyant Jörg Haider, who died in a car crash in 2008.

Only with the fall of Haider’s successor, Heinz-Christian Strache, who was caught in a corruption scandal known as “Ibizagate” in 2019, in which he was filmed soliciting Russian money in return for political favours, did Kickl move into the political centre stage.

One key lesson he took from Strache’s failure was not to rely on Austria’s established press. When Strache was in charge, the goal was to win support from the country’s biggest tabloid, the Kronen Zeitung. Under Kickl, the FPÖ has thumbed its nose at the paper and quickly built a large social media presence, including on YouTube and Facebook.

Still, for some, the party’s renaissance owes as much to enduring structural issues in Austrian electoral politics, as it does Kickl’s leadership.

Advertisement

The FPÖ had always been the third force, said Lothar Höbelt, a prominent Austrian historian — biographer of Haider — and sometime supporter of the party. Its success, he said, could perhaps most straightforwardly be read as a failure of the mainstream parties.

The conservative People’s party has been mired in corruption scandals since the departure of chancellor Sebastian Kurz. Meanwhile, the Social Democrats have elected a left-leaning leader who is unloved by more moderate party colleagues and unpopular with voters.

For Höbelt the result on Sunday is, despite all the noise, unlikely to amount to any great ruction.

“Let’s face it, we are probably looking at a result where the FPÖ is not really all that far from where it was in 1999 or 2017,” he said, when the party won 26.9 per cent and 26 per cent of the vote respectively. The political memory of a liberal mainstream, he said, was short, and prone to catastrophising.

Topics such as Covid and Ukraine, Höbelt noted, had no actionable policy dimension, as they were simply about stoking emotions. On other issues, such as migration, mainstream parties had already tacked right, adopting the FPÖ’s ideas. The far-right party meanwhile had tried to present a more mainstream set of economic policies on issues such as tax and spending.

“There’s very little discussion of actual policy issues at all, and very little in the FPÖ programme of substance that separates it from the People’s party.”

Source link

Advertisement
Continue Reading

Money

Teabag shortage fears sees Brits scramble for bags after strike at Tetley’s factory sparks surge in sales

Published

on

Teabag shortage fears sees Brits scramble for bags after strike at Tetley’s factory sparks surge in sales

BRITS have been scrambling for tea bags after strikes at Tetley’s factory sparked fears of a shortage. 

After last week’s news of a potential tea drought, thousands rushed to supermarkets to secure their beloved cuppa. 

On Thursday alone, Tetley's original bag sales shot up by 100 per cent compared to the previous day in Iceland supermarkets

4

On Thursday alone, Tetley’s original bag sales shot up by 100 per cent compared to the previous day in Iceland supermarketsCredit: Getty
Tetley's factory in Teesside is the biggest in the world and it supplies 30 percent of the UK's tea

4

Advertisement
Tetley’s factory in Teesside is the biggest in the world and it supplies 30 percent of the UK’s teaCredit: Darren Fletcher

The alarm was triggered when almost 150 GMB members working at Tata Consumer Products, which makes Tetley Tea in Teesside, announced they would lay down tools in anger at “poverty pay” on Friday and Monday. 

The factory is Tetley’s biggest in the world, and it supplies 30 percent of the UK’s tea.

As panic-buying kicked in, Iceland Foods and The Food Warehouse supermarkets reported a dramatic surge in sales.

On Thursday alone, Tetley’s original bag sales shot up by 100 per cent compared to the previous day.

Advertisement

And over the following four days, sales of Tetley’s tea, decaf, peppermint, and green tea bags spiked by 250 per cent compared to the previous week.

More than a million tea bags were sold, driven by offers on peppermint and green tea, according to the supermarket chain. 

An Iceland spokesperson said: “Britain loves a brew and the threat of a tea shortage sparked some small panic amongst shoppers over the past four days.

“As soon as the news broke that there could be a tea shortage, our customers immediately made sure they were fully stocked, just in case stock levels drop.”

Advertisement

They also reassured shoppers they have enough stock for Britain’s brews, adding: “Fear not tea drinkers, despite the rush, we still have enough tea bags in stock to keep Britain’s thirst quenched. Whether it’s Tetley’s, Yorkshire Tea, PG Tips or Typhoo, we have a proper brew waiting for you!”

Members of the GMB union at the Eaglescliffe factory, near Stockton, voted to take industrial action after being offered a 4.4 percent pay rise, compared to the 7 per cent they received last year.

Tata Consumer Products said: “We are disappointed with the decision to strike particularly when we have two offers on the table.

“We are not immune to the difficult economic circumstances facing families and businesses, but we do believe the pay award offers made by us to be fair.”

Advertisement

It is not the first time fears of a tea shortage hits Britain.

Earlier this year, Sainsbury’s cautioned shoppers in some stores that there are “nationwide” problems which could impact the availability of black tea.

But retail bosses have said the problems are “temporary” and stressed that the impact on consumers is expected to be “minimal”.

A sign in one Sainsbury’s store read: “We are experiencing supply issues affecting the nationwide supply of black tea

Advertisement

“We apologise for any inconvenience and hope to be back in full supply soon.”

Shoppers were warned they could struggle to find tea on shelves earlier this year due to supply issues

4

Shoppers were warned they could struggle to find tea on shelves earlier this year due to supply issuesCredit: JAMPRESS
Sainsbury's said it was experiencing supply issues on black tea

4

Sainsbury’s said it was experiencing supply issues on black teaCredit: JAMPRESS

Source link

Advertisement
Continue Reading

News

What the Next Japanese PM Means for the World

Published

on

What the Next Japanese PM Means for the World

Ishiba Shigeru is set to become Japan’s new Prime Minister after winning the presidency of the ruling Liberal Democratic Party (LDP) in a ballot of party lawmakers and members on Friday afternoon.

A plain-spoken populist and former defense minister who gained the LDP’s leadership on his fifth attempt—what he called his “final battle”—Ishiba, 67, emerged triumphant from a nine-strong field on promises to revitalize rural areas and win back public trust after a slew of scandals led to the stepping down of outgoing Prime Minister Fumio Kishida. Ishiba will assume the nation’s top job on Oct. 1 following a rubber-stamp parliamentary vote.

“Prime Minister Kishida has made a decision to let the LDP be reborn and win back the public’s trust,” Ishiba said in his victory speech. “We must all pull together to respond to this.”

Ishiba’s leadership of the East Asian nation of 125 million has implications for global security given Japan’s increasingly prominent role alongside the U.S. checking China’s assertiveness in the Asia-Pacific. Under the outgoing Kishida, who announced he wouldn’t seek reelection last month amid plummeting popularity, Japan has beefed up defense spending and healed historical wounds with South Korea, another key regional U.S. ally.

Advertisement

A Tokyo native, Ishiba has both establishment and rebel credentials. He briefly worked in banking before embarking on his own political career following the death of his father, who was himself a lawmaker and cabinet member. He’s seen as distant from the right-wing faction of the party centered around the late Shinzo Abe, Japan’s longest-serving Prime Minister who was murdered in 2022, having reportedly turned down several cabinet posts under him.

That distance likely proved key in Ishiba’s victory. LDP elders recognized the need for change following public opprobrium regarding the Abe faction’s ties to the controversial Unification Church as well as the misuse of political funds. “Distrust grew in the Kishida administration because he didn’t really deal with the financial scandals of the LDP factions,” says Mieko Nakabayashi, a professor at Tokyo’s Waseda University and a former Japanese lawmaker.

Ishiba’s popularity was bolstered by his outspokenness on the need to properly investigate any malfeasance and for reforms to regain public confidence. Having previously served as agriculture minister and rural revitalization minister, Ishiba’s economic agenda focuses on revitalizing Japan’s outlying regions.

“He has the most credibility as somebody who understands the pain of the people,” says Jeff Kingston, director of Asian studies at Tokyo’s Temple University. “But he’s a blunt-spoken guy who doesn’t suffer fools easily, and many of his colleagues fit that bill. So he can seem arrogant and condescending to his fellow lawmakers.”

Advertisement

As a result, it’s perhaps unsurprising that Ishiba’s support lay more with LDP’s broad membership than fellow lawmakers, many of whom still regard him as a traitor for switching parties for several years in the 1990s. He was also the most populist of the main challengers and known for flip-flopping on various issues depending on public mood, including nuclear energy and whether a woman could serve as Emperor.

“There are many cases when he has changed his stance, so he is sometimes regarded as a weak leader who does not have really strong principles,” says Hosoya Yuichi, a professor of international politics at Keio University in Tokyo. “But at the same time, he is regarded as an experienced, reliable politician.”

Ishiba is one of only two of the leadership candidates who doesn’t speak English—remarkably, four of the nine were Harvard-educated—and is seen as a more conservative choice than his two closest challengers, who would have been either Japan’s youngest or first female leader. (The latter, Economic Security Minister Sanae Takaichi, was ahead on the first-round vote but was defeated by Ishiba in a runoff.)

Yet Ishiba also has a distinct maverick streak. He is one of the few LDP politicians to acknowledge Japanese mistakes in its 1910-45 colonization of Korea, which promises warmer ties with Seoul, though he has also openly called for the establishment of an Asian version of NATO, which may put him on collision course with Beijing.

Advertisement

Regarding U.S. ties, Ishiba has alarmed some by calling for a rebalancing of defense arrangements, with Japan taking more control and responsibility for its own security. He has a reputation as a security hardliner who is fond of building and painting models of aircraft and ships, which reportedly line his office walls, and he has previously voiced support for Japan developing its own nuclear deterrent. However, it’s unlikely he would deviate far from the U.S.-led orthodoxy. U.S. Ambassador Rahm Emanuel congratulated Ishiba in a post on X and said he looks forward to working with him to “cultivate even closer” U.S.-Japan ties.

“We will put our hearts into protecting Japan, local areas, rules, and the people of Japan,” Ishiba said Friday.

Source link

Advertisement
Continue Reading

Business

The next carry trade to blow up?

Published

on

Unlock the Editor’s Digest for free

The yen carry trade that spectacularly reversed in August already feels long ago, but Bank of America thinks it’s found another potential landmine: International corporate deposits.

The bank’s analysts point out that companies in Europe and Asia have been accumulating a huge trove of FX deposits since 2019, initially as a precaution after Covid-19 and afterwards because higher US interest rates and the dollar’s strength made them attractive.

Advertisement

Even after dipping a bit lately, that stash now exceeds $1tn.

Of this they estimate that somewhere in the range of $260bn to $480bn are de facto carry trades, with dollar deposits exceeding dollar loans particularly starkly in China.

If this starts to unwind as the Federal Reserve cuts rates and the dollar weakens then it will add even more pressure on the greenback, BofA argues. From their note:

Monetary tightening by global central banks, in particular the US Federal Reserve, made it more attractive for corporates in the euro area and Asia to hold onto FX receipts and benefit from the associated higher rates, rather to convert these receipts to the local currency. The large FX carry position has sustained even as some corporates started to pay down FX loans

. . . A potential unwind of carry position by corporates may extend the broad US dollar weakness that we expect. To bring corporates’ FX carry position down to the average 2019 level, we estimate this may imply an unwind of c. USD 250bn-300bn in their FX carry position.

This doesn’t seem like a massive risk. Estimates vary but the yen carry trade was much larger, and the dollar is an even more liquid currency. The latest comprehensive BIS study estimated that there’s about $7.5tn of FX trading volumes daily, and the US dollar was on one side of 88 per cent of all trades.

Advertisement

That said, a dollar carry trade unwind sounds like it would be fun, so we’re rooting for it.

Source link

Continue Reading

Money

Murdoch’s REA ups Rightmove offer to £6.2bn

Published

on

Murdoch’s REA ups Rightmove offer to £6.2bn

The offer comes after the previous offers were rebuffed by Rightmove, including a £6.1 billion move earlier this week.

The post Murdoch’s REA ups Rightmove offer to £6.2bn appeared first on Property Week.

Source link

Continue Reading

Trending

Copyright © 2024 WordupNews.com