Global investors seem to be getting bullish on banks Stateside, but the European banking system is still falling behind. Plagued by a number of factors such as an ultra-loose monetary policy environment, high levels of non-performing loans, uncertainty caused by the U.K.’s vote to exit the European Union and massive fines, the European banking industry […]
Read moreGerman special police units raided several homes in Berlin early Wednesday in connection with the brazen heist of a 100-kilogram (221-pound) gold coin stolen from one of the city’s most famous museums earlier this year. Police arrested at least two suspects during early morning raids in the city’s Neukoelln neighborhood. “We assume that the two […]
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BOE deputy governor says he’s not ready to raise interest rates just yet
Top Bank of England official Ben Broadbent is not ready to raise interest rates just yet, he said in a newspaper interview published on Wednesday, substantially lessening the chances that borrowing costs will rise soon. Deputy Governor Broadbent said the mood among businesses was central to his analysis and that it was “very difficult” for […]
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Burberry reports better-than-expected sales in first quarterly report under new CEO
Luxury brand Burberry reported a better-than-expected increase in like-for-like sales in its first quarterly report under new CEO Marco Gobbetti, helped by stronger demand in China and a continuing good performance in its home British market. Like-for-like sales increased by 4 percent, double the rate of growth expected by analysts, led by its newest ranges […]
Read moreThe International Monetary Fund‘s Managing Director, Christine Lagarde, has said that she would not rule out another financial crisis in her lifetime, indicating that comments made recently by Federal Reserve Chair Janet Yellen may have been premature. “There may, one day, be another crisis,” Lagarde told CNBC Tuesday on the sidelines of a joint conference […]
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Bank alternative Revolut raises $66 million in venture capital investment; eyes expansion in Asia, US
Fintech app Revolut has raised $66 million in a venture capital investment in order to expand its operations further across Asia and North America. The London-based business, which offers foreign currency to consumers abroad at the interbank rate available on the financial markets, raised the money in a Series B venture capital, bringing its total […]
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European markets set to open higher; investors await data and earnings
European bourses look set to push higher Wednesday morning, with the German DAX leading the way as investors look ahead to earnings reports and monitor the latest political developments in the U.S. Germany’s stock index looks set to gain 46 points to open at 12,483. The British FTSE 100 is anticipated to open up 25 […]
Read moreWith the nation’s fastest-growing economy and an all-star business roster of household names and up-and-comers, Washington — the Evergreen State — soars above the competition as America’s Top State for Business in 2017. The home of Amazon and Costco, Boeing and Expedia, as well as rising stars like Adaptive Biotechnologies, online marketplace OfferUp and space […]
Read moreThe economic news in Connecticut is downright lousy these days. Gov. Dannel Malloy is waging a bare-knuckle budget battle with state legislators in Hartford, even as that capital city teeters on the brink of bankruptcy. Both sides are trying to staunch the projected $2.7 billion deficit for the new fiscal year beginning July 1 without […]
Read moreIt is a good time to raise money in Massachusetts. Start-ups in the Bay State attracted some $5.8 billion in venture capital last year, according to the National Venture Capital Association and research firm PitchBook. That is the best fundraising year in the state since 2007, and it helps Massachusetts to a three-way tie with […]
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