Federal Reserve Chair Janet Yellen said that one of the challenges for the central bank is the multiple members it has and how they communicate with the public. “This really is one of the challenges of our system,” Yellen told a European Central Bank panel in Frankfurt Tuesday. “We have a very large committee, 19 […]
Read moreCurrency, United States Finance
Decline in the pound will continue for three key reasons, economist Adam Posen warns
Sterling is likely to further weaken amid increasing political instability and sluggish Brexit negotiations, according to a leading economist. Adam Posen, president of the Peterson Institute for International Economics and a former member of the Bank of England’s monetary policy committee, told CNBC on Tuesday that a decline in the pound is to be expected. […]
Read moreTesco won provisional approval for its proposed £3.7 billion ($4.9 billion) takeover of wholesaler Booker from the UK competition regulator on Tuesday, moving Britain’s biggest retailer closer to securing a new avenue of growth. The Competition and Markets Authority (CMA) said, after conducting an in-depth review, that it had provisionally concluded that Tesco’s purchase of […]
Read moreProperty firm behind one of London’s most iconic sites says blockchain will 'absolutely' have a role
Blockchain technology will “absolutely” have a function in Landsec’s business, the CEO of the U.K.’s largest property firm told CNBC on Tuesday. Landsec is the developer behind some Britain’s biggest shopping malls and most iconic sites. For example, it owns the electronic advertising billboards in London’s Piccadilly Circus. The FTSE 100-listed firm deals with a […]
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OPEC may expand to include allied oil producers, UAE energy minister says
United Arab Emirates Minister for Energy Suhail al-Mazroui said Tuesday there is “definitely” an appetite for non-OPEC members to join the 14-member cartel. When asked whether the non-OPEC countries currently complying to the global supply cuts could eventually become official members of the cartel, al-Mazroui replied: “There is definitely a willingness and a wish to […]
Read moreGreece will distribute 1.4 billion euros as a social dividend to pensioners and others hit hard by the country’s austerity programmes, Prime Minister Alexis Tsipras said on Monday. The money is available because the country has beaten its 2017 bailout target for a primary surplus – which excludes debt servicing costs – of 1.75 percent […]
Read moreBeijing Sinnet Technology said Tuesday it would buy parts of Amazon’s cloud business in China for up to 2 billion Chinese yuan ($301 million), but the U.S. e-commerce giant said it was not exiting the world’s second-largest economy. In August 2016, Amazon signed a deal to let Chinese tech firm Sinnet operate services provided by […]
Read moreEuropean stocks are expected to open lower Tuesday, dragged down by negative sentiment in China and the U.S. The FTSE 100 is seen off by 7 points at 7,409; the German DAX is set to start lower by 8 points at 13,080 and the CAC 40 is seen down by 5 points at 5,336. In […]
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OPEC, Russia and other producers are in the midst of a joint effort to force a rebalancing of the oil market, with prices climbing to two-and-a-half-year highs in recent weeks. However, with persistently strong oil exports dampening market sentiment and capping gains, CNBC takes a look at the world’s 10 leading oil exporters. Source: cnbc […]
Read moreAs President Donald Trump seeks to strengthen the U.S.-Philippine alliance, his administration is embarking on two controversial actions that risk inflaming Asia-Pacific tensions. That is, Washington has been helping Manila fund its deadly anti-narcotics campaign and is looking to maintain a military presence in the South China Sea to prevent Beijing from further territorial expansion. […]
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