Billionaire investor George Soros has denounced a propaganda campaign waged against him by the Hungarian government. Soros — a Hungarian by birth whose political views are in stark contrast to Budapest’s ruling Fidesz party — said Monday he had been targeted by an administration “stoking anti-Muslim sentiment and employing anti-Semitic tropes reminiscent of the 1930s.” […]
Read moreThe White House says the true cost of the opioid drug epidemic in 2015 was $504 billion, or roughly half a trillion dollars. In an analysis to be released Monday, the Council of Economic Advisers says the figure is more than six times larger than the most recent estimate. The council said a 2016 private […]
Read moreThe euro was under some pressure Monday following news that talks to form a new government in Germany had collapsed. Market players, however, were somewhat relaxed over the ongoing political instability in Berlin, despite this being the first time since World War II that a general election had not led to a new government. Kit […]
Read moreChipmaker Marvell Technology has agreed to acquire smaller peer Cavium for around $6 billion, as it seeks to expand in the networking equipment sector, people familiar with the matter said on Sunday. The deal will allow Marvell to diversify away from its traditional storage devices business following an agreement with Starboard Value last year to […]
Read moreCurrency, United States Finance
'New normal' of geopolitical risk likely to boost gold prices in coming years, Citi forecasts
Gold prices are likely to be buoyed by the “new normal” of elevated geopolitical tensions over the coming years, Citi analysts said Monday. The geopolitical case for gold investment has been emboldened in recent months and it seems as strong today than at any point over the last four decades, Citi analysts said. As a […]
Read moreBitcoin hit a fresh all-time high Sunday above the $8,000 mark after a wild week for the cryptocurrency. On Sunday around 8:00 p.m. London time, it hit a record high of $8,101.91, according to data from industry website CoinDesk. Bitcoin held above $8,000 in early trade on Monday. The rally comes on the back of […]
Read moreU.K.-based start-up bank Monzo will not be bought up by a larger player, its chief executive told CNBC. “We have no plans to be acquired at all,” Tom Blomfield said in an interview last week. The mobile app-based lender revealed earlier this month that U.S. payments unicorn Stripe was one of several investors to participate […]
Read moreSouth Korea’s spy agency said on Monday it is possible North Korea can develop an intercontinental ballistic missile capable of reaching the U.S. mainland this year and that it is monitoring developments closely. No sign of an imminent nuclear test had been detected, though the North’s Punggye-ri complex appears ready for another detonation “at any […]
Read morePolitical analysts have been contemplating what could happen next in Europe’s largest economy after coalition talks collapsed at the weekend, potentially putting German Chancellor Angela Merkel’s leadership in doubt. Talks between Merkel’s CDU (Christian Democratic Union), the pro-business FDP (Free Democratic Party) and the environmentalist Greens fell apart with lawmakers citing irreconcilable differences. This would […]
Read moreEuropean bourses are set to open lower on Monday morning after preliminary coalition talks in Germany collapsed. The FTSE 100 is seen lower by 11 points at 7,369; the German DAX is expected to open 81 points lower at 12,911 and the CAC 40 is seen down by 25 points at 5,288, according to IG. […]
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