The Trump administration may soon claim as much as $1.7 billion penalty from ZTE Corp., as it looks to punish and tighten control over the Chinese telecommunications company before allowing it back into business, according to people familiar with the matter. The Commerce Department is also seeking unfettered site visits to verify U.S. components are […]
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Merkel lays out her vision for the euro — but her ideas are still far from Macron's
German Chancellor Angela Merkel ended her silence on euro zone reform by showing some willingness to increase risk-sharing — a long-standing issue for many politicians in Berlin. Merkel on Sunday revealed her vision for the future of the euro zone bailout fund — the European Stability Mechanism (ESM) — and for an investment budget to […]
Read moreRussian President Vladimir Putin invited North Korean leader Kim Jong Un to travel to Russia in September, RIA news agency reported on Monday, citing Ivan Melnikov, a deputy speaker of the lower house of parliament. Russian Foreign Minister Sergei Lavrov, who visited Pyongyang last week, passed the North Korean leader an invitation from Putin to […]
Read moreThe co-founder of an online money transfer service claimed that cryptocurrencies aren’t flexible enough to be adopted on a widespread basis. TransferWise is an Estonian developed and U.K.-based money transfer service, launched in January 2011. Its co-founder and CEO, Kristo Kaarmann, said Monday that while cryptocurrencies are interesting, they currently have limited use. “It would […]
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Facebook reportedly gave personal data to 60 companies including Apple, Amazon and Samsung
Facebook struck dozens of data-sharing deals with smartphone and tablet makers over the last decade, according to a report by The New York Times. The newspaper revealed Sunday that Facebook had formed at least 60 data-sharing partnerships with device makers including Apple, Amazon, Microsoft and Samsung over the last 10 years. Without explicit consent, these […]
Read moreGlobal gross domestic product (GDP) growth could take a hit to the order of around one percent if tariff threats escalate into a trade war, S&P Global’s chief economist forecast Monday. It may not be a global recession, but “one could imagine a scenario where rather than global growth in the threes we have global […]
Read moreRising fuel costs and the threat of a trade war will not affect Cathay Pacific’s plan to turn in a profit in 2019, Chief Executive Rupert Hogg said on Monday as the airline seeks to recover from two straight years of losses. The flag carrier of Hong Kong is currently in the midst of a […]
Read moreAn anti-immigration opposition party won Slovenia’s parliamentary election on Sunday, taking 25 percent of the vote, according to preliminary results. However, the center-right Slovenia Democratic Party (SDS) of former prime minister Janez Jansa may struggle to pull together a government as its hardline stance on immigration has left it short of potential coalition partners. Jansa […]
Read moreTransferWise announced a partnership Monday with France’s Groupe BPCE to offer its low-cost money transfer service to the lender’s customers, marking the first integration of the U.K. start-up’s product with a major bank. The London, U.K.-headquartered firm specializes in cross-currency money transfers at a lower cost than traditional banks. The process of moving currencies around […]
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Italy's UniCredit reportedly exploring merger with French rival SocGen
Italy’s biggest bank, UniCredit SpA is exploring a merger with France’s Societe Generale SA in a move that would see the European banks leading the way for banking mergers on the continent, the FT said on Sunday. UniCredit’s French chief executive, Jean-Pierre Mustier, a former head of SocGen’s investment banking unit, has been developing the […]
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