Europeans stocks provisionally closed higher on Thursday as investors awaited comments on monetary policy from the Jackson Hole meeting. The pan-European Stoxx 600 was 0.3 percent by closing deals, with all major bourses moving in positive territory. Markets in the U.S., meanwhile, turned negative ahead of central bank policy announcements. Construction and material stocks were […]
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Weak pound pushes UK household spending growth to slowest since 2014
British household spending grew at its weakest pace since late 2014 in the three months to June as the effect of a weaker pound since last year’s Brexit vote weighed on Britons’ spending power, official statistics showed on Thursday. Year-on-year spending growth dropped to 2.0 percent from 2.6 percent after expanding just 0.1 percent in […]
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India’s landmark Supreme Court ruling could be damning for Modi’s biometric payment scheme
The Indian government has suffered a huge setback after a landmark Supreme Court ruling found that citizens have a fundamental right to privacy, posing a risk for Prime Minister Narendra Modi’s biometric payment scheme. The highest court in the country voted unanimously Thursday that privacy is an “intrinsic” part of Article 21 of the Indian […]
Read moreShares in Britain’s Dixons Carphone plunged 30 percent after the retailer cut its full-year profit forecast on Thursday, blaming tougher conditions in the mobile market as customers keeptheir handsets longer. The retailer said headline pretax profit for the year was expected to be in a range of 360 million pounds to 440 million pounds ($460-562 […]
Read moreDutch police on Thursday questioned a Spanish man detained with gas canisters in a van while driving near a concert venue where a rock concert was cancelled due to a threat of an attack. The man was being held in Rotterdam, where he was stopped in the white vehicle with Spanish licence plates on Wednesday, […]
Read moreChina has come out strongly against new U.S. moves to pressure North Korea with its foreign ministry opposing the “long-arm jurisdiction” of President Donald Trump’s administration, arguing that Beijing has always met international obligations in containing its reclusive neighbor. The Treasury Department on Tuesday announced new penalties against 10 entities and six individuals, mostly Chinese […]
Read moreAs Venezuela suffers its worst meltdown in history, with inflation skyrocketing and basic necessities running in short supply, many have taken to bitcoin mining in a bid to survive, according to a report in the current issue of the Atlantic. The reason? Electricity is now cheaper and more affordable in the crisis-hit country than most […]
Read moreChina has pitched its mammoth, pan-Eurasian “Belt and Road” infrastructure initiative as a means of promoting economic prosperity and fostering diplomatic ties on a global scale. That rhetoric may win plaudits at a time when other global powers are voicing increasingly protectionist agendas, but it also comes with risks, and increasing levels of state-backed funding […]
Read moreThe Powerball jackpot of $700 million had one winner in Massachusetts. The game jackpot, which had been growing since the June 10 drawing, was offering a $700 million annuity or $443.3 million in cash, according to a statement from the Pennsylvania Lottery on Wednesday. The jackpot was the lottery game’s second-largest ever, behind only the […]
Read moreThe United States must value Pakistan’s role in Afghanistan and respect its security concerns, China’s top diplomat Yang Jiechi told U.S. Secretary of State Rex Tillerson in a phone call, according to Chinese state media. China‘s Foreign Ministry defended its ally Pakistan earlier this week after President Donald Trump said the United States could no […]
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