Luxembourg’s finance minister believes that Europe should consult with the United States before going ahead with any taxation plans on large digital firms like Google. “If a provisional taxation would lead to an escalation in the relationship with the main partners, and specifically with the United States, it would obviously be counterproductive, that’s why I […]
Read moreBroad global economic expansion is making assets expensive, so forget investing passively, an investment manager told CNBC on Thursday. Instead, he recommend considering niche growth areas like avocados. “Be very specific about what you do. Look for idiosyncratic, value and unusual niches rather than broad assets and broadly passive allocation,” said Stephen Diggle, founder of […]
Read moreWe should dedicate the 'utmost effort' to strengthening the open trade system, development bank says
Countries around the world have benefited from open trade and investment and they should now put in their “utmost effort” to maintain and strengthen that system, according to Takehiko Nakao, president of the Asian Development Bank. Nakao’s comments came as officials from the U.S. and China convene in Beijing to iron out their trade tensions […]
Read moreWarnings of financial risks may be sounding on China’s Belt and Road Initiative, but global banks are still seeing a promising opportunity. In an interview with CNBC, Marc Merlino, Citi’s global head for its global subsidiaries group, said there are opportunities for not just banks, but institutional and corporate investors. The initiative aims to connect […]
Read moreOf all the countries in the world to go completely cashless, Sweden could be the first. It’s already considered to be the most cashless society in the world. More Swedes have access to a payment card than to cash, according to data from the country’s central bank, the Riksbank. And the overwhelming majority of the […]
Read moreCurrency, United States Finance
Greece's debt deadlock is taking long to resolve because it's unique, Luxembourg minister says
There is no precedent in the euro zone to address the debt pile of a bailed-out county and that’s why discussions on Greece’s debt are taking so long, the Luxembourg finance minister told CNBC. European institutions and the International Monetary Fund (IMF) have struggled to find an agreement over how to make the Greek debt […]
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European markets set to open lower amid rising uncertainty in US-China trade
European equities are seen lower Thursday as investors closely monitor trade talks between the U.S. and China. The FTSE 100 is seen off by 32 points at 7,520; the DAX is expected to open lower by 46 points at 12,764; and the CAC 40 is seen down by 20 points at 5,502; according to IG. […]
Read moreAn escalation in the U.S.-China trade dispute would hit the Philippines, which count the two economic giants among its five largest trading partners. But the Southeast Asian country has a plan to protect its economy from the impact, its secretary of finance said on Thursday. “Strategically speaking, the Philippines will concentrate on what we’re doing […]
Read moreChinese smartphone maker Xiaomi on Thursday filed for an initial public offering in Hong Kong but did not disclose the amount it’s looking to raise or its projected valuation. Reports have suggested it could become the largest listing by a Chinese tech company in nearly four years. In its disclosure to Hong Kong Exchanges, Xiaomi […]
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