Homepage / Currency / Catalan VP says Spain 'gives us no option' but to secede
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election

Currency, United States Finance

Catalan VP says Spain 'gives us no option' but to secede

Spanish authorities are leaving separatists in Catalonia no option but to push ahead with declaring independence and proclaiming the region as a new republic, the region’s vice president asserted Wednesday.

In an interview with The Associated Press, Vice President Oriol Junqueras said his party — one of two in the separatist coalition now governing Catalonia — rejected calling a snap regional election as a way out of the political deadlock because in its view Catalans already have chosen independence.

Spain’s Constitutional Court has ruled against the Oct. 1 referendum Catalonia’s government held after the court put the vote on hold. Central authorities say the results are invalid.

Junqueras said his party would “work toward building a republic because we understand that there is a democratic mandate to establish such a republic.”

The regional vice president insisted he was speaking only on behalf of his Republican Left party and not for the regional government. Catalan President Carles Puigdemont is set to address regional lawmakers during a parliamentary session beginning Thursday evening.

Junqueras spoke with the AP amid frantic jockeying within Catalonia’s ruling coalition and among its political allies on how to respond to plans by Spanish authorities to sack Puigdemont’s government and directly manage Catalonia’s affairs.

“We also understand that the Spanish government is giving us no other option than to defend the civil rights and citizens’ rights through the best tools that our institutions have,” Junqueras said.

Puigdemont has not signaled what he intends to do, but called a late Wednesday meeting of his cabinet. Local media speculated he could call a snap regional election to avoid the unprecedented takeover of the regional autonomy.

But Junqueras ruled an election out, saying it would be wrong and illogical “to renounce the democratic mandate that we have from citizens.”

In Madrid, Prime Minister Mariano Rajoy said his government’s plans to take control of Catalonia’s key affairs and halt the region’s push for independence were “exceptional” measures he hoped would not be needed for long.

The conservative prime minister told Parliament that invoking constitutional authority over Catalonia was the “only possible” way to bring the region back in line with Spanish law, which he said the separatist Catalan government has violated repeatedly.

Rajoy said he hopes the measures planned, which includes removing Catalan government officials — including Puigdemont and Junqueras — and curtailing the regional parliament’s powers, will be brief. They should end with a regional election he hopes to call soon, but only will be lifted once order is restored in Catalonia, the prime minister said.

Spain’s Senate, in Madrid, is expected to approve the measures on Friday. Catalan President Carles Puigdemont could address the Senate to argue against them, but has chosen to stay in Barcelona, officials from several regional parties said Wednesday.

Puigdemont instead plans to attend a session of the Catalan parliament in Barcelona, the region’s capital, beginning Thursday and ending Friday, the officials said. They spoke on condition of anonymity in keeping with internal party regulations.

Rajoy has asked the Senate to invoke a section of the Spain Constitution, Article 155, that allows the central government to step in when a region is found to be acting illegally. The action has never been taken before.

He argues it is needed now to stop the Catalan government from acting on the results of an outlawed Oct. 1 referendum that Puigdemont said gave him the mandate to declare independence.

“The government’s response is the only one possible, given the stance of the Catalan institutions,” Rajoy said. “I am fulfilling my duty and I am doing it in the face of a rejection of our laws, of our Constitution and of the millions of Catalan citizens who can see that their (regional) government has flouted the law.”

Rajoy said the aim of Article 155 is not to suspend Catalonia’s self-government but “to restore legality, boost the social co-existence that has been broken in Catalonia and tackle the economic consequences that its decisions are provoking.”

The uncertainty over Catalonia’s future could have an economic impact. Credit ratings agency DBRS warned on Wednesday that the situation is hurting the region’s economy and could become a drag on Spain’s economy.

The political turmoil brought by Catalonia’s standoff with the national government “is discouraging investment and tourism in the region,” DBRS said in a statement.

Junqueras, who is also in charge of the region’s economy, was confident in the Catalan economy and blamed the recent exodus of businesses on pressures from Spanish central authorities.

“There is no democracy that receives the attacks that we are receiving,” he said. “It is such an abnormal situation, with such great aggressiveness that is creating an unusual scenario in Europe.”

With Catalonia representing about one-fifth of Spain’s annual gross domestic product, any slowdown in the region would affect the national economy.

The Spanish government has revised downwards its growth forecast for 2018 to 2.3 percent from 2.6 percent, largely because of doubts over Catalonia’s future.

DBRS says the effects on the national economy will be “manageable,” however, unless the crisis becomes protracted.

Source: cnbc
Catalan VP says Spain 'gives us no option' but to secede

Comments are closed.