THE British Labour party is in buoyant mood at its annual conference, expecting to be in power very soon. And it has already started to think about the consequences, including a possible run on the pound if it takes office. But not everyone thinks this is likely; Simon Wren-Lewis, an economist, challenged people to think […]
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The U.K.’s Labour party has come under fire after its shadow finance minister said he was prepared for a run on the pound if the Labour party won the next general election. In remarks made at a fringe event during the Labour Party’s annual conference this week, Shadow Chancellor John McDonnell said he would plan […]
Read moreJapanese banks are looking to launch their own digital currency called the J-Coin to wean consumers off cash. Mizuho Financial Group is one of the institutions spearheading the move. “The project is in the early stages, and we have just held study meetings with other institutions,” a spokesperson for the bank told CNBC via email […]
Read moreBritish Prime Minister Theresa May said she was bitterly disappointed by a U.S. decision to slap heavy duties on Bombardier Inc‘s CSeries jets which are partly made in Northern Ireland. May had urged U.S. President Donald Trump to help find a solution to the Boeing-Bombardier dispute which has put around 4,200 jobs at risk in […]
Read moreA reversal of recent low volatility in markets, paired with a rethink by global investors on the attractiveness of stocks, could have “devastating” effects, according to Gina Sanchez, CEO of Chantico Global. Markets in the U.S. have ticked higher since the election of President Donald Trump, aided by promises of reforms, tax cuts and infrastructure […]
Read moreAn upstart sports league in India is suddenly drawing comparisons with the NBA in the United States and the Premier League in the United Kingdom. And for good reason. Rupert Murdoch’s Star India this month paid $2.55 billion to buy the five-year global media rights of the Indian Premier league (IPL), an annual cricket tournament […]
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German industrial group Siemens and French rival Alstom agreed to merge their rail operations, creating a European champion to better withstand the international advance of China’s state-owned CRRC. Siemens will own 50 percent plus a few shares of the joint venture, to be called Siemens Alstom, while Alstom will supply Henri Poupart-Lafarge as chief executive, […]
Read moreIn a rare public feud between large technology companies, Amazon.com Inc said on Tuesday its Echo Show devices could no longer play videos from YouTube because the site’s parent, Google, stopped supporting the service. The spat is the latest in Silicon Valley in which competitive tensions stood in the way of customers. Amazon and Google […]
Read moreNorth Korean government officials have been trying to arrange meetings with Republican-linked analysts in Washington to better understand President Donald Trump and his messages to the reclusive nation, the Washington Post reported on Tuesday. The outreach, which has been done quietly by Kim Jong Un‘s regime, started before the current war of words between the […]
Read moreFord, which has been criticized for not moving faster to develop a strategy for developing autonomous-drive vehicles, is turning to Lyft for help in testing self-driving cars. The automaker is partnering with Lyft by initially offering human-driven vehicles on the ride-share operator’s fleet. Eventually, Ford plans to make its autonomous-drive vehicles available to Lyft customers. […]
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