A potential correction in financial markets is what keeps the European Central Bank’s vice president awake at night, he said Thursday, discussing the ECB’s recently released bi-annual financial stability report (FSR). “The main risk in the FSR is a correction in financial markets, particularly in the bond market,” Vitor Constancio told CNBC’s Annette Weisbach in […]
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French president lauds Europe as the 'most attractive place' for tech giants
French President Emmanuel Macron said Europe must avoid making the same mistakes as the U.S. and China if the region is to successfully tackle some of the world’s biggest tech giants. Macron is currently spearheading efforts for Europe to adopt tougher regulations on digital companies. On Wednesday, the French leader said that while he was […]
Read moreAdyen, a Dutch company that processes payments for Airbnb, Uber, Spotify and Netflix, plans to list on the Amsterdam stock exchange in June in the midst of a wave of dealmaking in the digital payments industry. Sources close to the matter told Reuters last month that Adyen was eyeing a valuation of 6-9 billion euros […]
Read moreTurkey’s central bank raised interest rates by 300 basis points on Wednesday in an emergency move to put a floor under the plunging lira currency and calm investors unnerved by interventions from President Tayyip Erdogan. The central bank, which had been scheduled to hold its next policy-setting meeting on June 7, said it had increased […]
Read moreREPUBLICANS in the House of Representatives had hoped to cut a swathe through the Dodd-Frank act, a titanic set of financial regulations passed in 2010 in the wake of the 2007-09 crisis. The “Financial Choice Act”, drafted last year, would have lessened bureaucratic oversight and relied more on stiff capital requirements. Responsibilities and penalties would […]
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Italy's populists' choice of PM is approved as Europe issues a warning over debt
Italy’s head of state has given the country’s populist parties’ choice of prime minister — a law professor called Giuseppe Conte — the mandate to lead the government, amid warnings from Europe for Italy to respect budget rules. Italy’s anti-establishment parties, the 5 Star Movement (M5S) and Lega, proposed Conte as their candidate to lead […]
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The 'biggest' change in oil market history: A shipping revolution could prompt crude prices to soar
Instead of OPEC, Iran or even Venezuela, the most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution, analysts have warned. New rules coming into force in approximately 18 months’ time are seen as a source of great concern for some of the […]
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European markets seen mixed amid renewed concerns over US-Sino trade talks
European stocks are set to open mixed Thursday morning, after comments from President Donald Trump indicated fresh setbacks in trade talks between the world’s two largest economies. The FTSE 100 is seen little changed from the previous session at 7,779; the CAC is expected to open around 3 points lower at 5,562 while the DAX […]
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Deutsche Bank shareholders are ramping up the pressure on the firm's chairman and CEO
Deutsche Bank‘s investors are fed up. The lender’s share price is tumbling, revenues are declining and that despite many big U.S. banks posting record profits. Germany’s biggest bank which, not long ago, wanted to be among the five biggest investment banks in the world, needs some stronger medication to turn around its fortunes, according to […]
Read moreThe eruption of the Kilauea volcano on Hawaii’s Big Island will certainly hurt the island’s economy – but it doesn’t necessarily have to, one local business owner told CNBC on Wednesday. The Hawaii Volcanoes National Park, a popular tourist destination, has been shut down since the volcano began spewing lava and toxic gases earlier this […]
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