President Donald Trump will be characteristically pleased with himself when he hears that one of his favorite phrases, “fake news”, has been named “word of the year” by dictionary publisher Collins. Announcing the winner, U.K.-based Collins Dictionary said the term “fake news” saw an “unprecedented” rise with usage of the term increasing 365 percent since […]
Read moreSwiss Re, the world’s second-largest reinsurer, on Thursday posted a $468 million nine-month net loss after disasters such as Hurricanes Harvey, Irma and Maria and Australia’s Cyclone Debbie socked the reinsurer with an expected $4 billion in natural catastrophe claims. Despite the earnings blow, it said it would proceed with a proposed share buyback of […]
Read moreTrade tensions between the world’s two largest economies are heating up ahead of President Donald Trump’s visit to Beijing, with the American leader calling the U.S. trade deficit with China “embarrassing” and “horrible” on Wednesday. The comments follow trade-related disputes in the last week, highlighting friction between the two economic giants as they prepare to […]
Read moreFacebook said this week that Russian-backed election content on the platform reached 126 million Americans; Twitter found 36,000 Russian accounts were active during the election; and Google said pro-Russian groups purchased $4,700 worth of ads on its platforms. But the spread of propaganda and misinformation online is a global problem that has yet to be […]
Read moreCurrency, United States Finance
No Brexit deal could solve the UK's migrant worries, says Oxford expert
Immigration remains a daunting policy concern as the United Kingdom tries to envision a future outside of the European Union. But hopes that Britain and the EU can reach a deal addressing the nation’s migrant population could be in vain, according to a leading academic. For one, “no conceivable Brexit deal will involve expelling” Eastern […]
Read moreCurrency, United States Finance
European markets seen lower ahead of BOE rate decision; Trump to announce new Fed chair
European stocks are expected to open lower Thursday as investors react to a slew of earnings news and wait for the latest rate decision from the Bank of England (BOE). The FTSE 100 is seen 26 points lower at 7,462; the DAX is expected to be lower by 19 points at 13,446 and the CAC […]
Read moreSaudi Arabian Energy Minister Khalid al-Falih said on Thursday that he was worried about future energy security, especially in Asia, because of strong demand growth, and reiterated his country’s support for a global oil supply cut pact ahead of an OPEC meeting later this month. “I am concerned about future energy security — especially in […]
Read moreBitcoin hit another all-time high Wednesday evening, surpassing $6,900 for the first time. The cryptocurrency has had a bullish streak throughout the week following the CME’s announcement that it will introduce bitcoin futures contracts. According to data from CoinDesk, the virtual currency reached an all-time high of $6,922 at about 9:36 p.m. ET. A surge […]
Read moreSwiss bank Credit Suisse posted a strong increase in third-quarter net profit on Thursday, beating analyst expectations amid an ongoing restructuring plan. Here are the key third-quarter metrics: Net income: 244 million Swiss francs ($244 million), vs. 224.6 million Swiss francs expected by Thomson Reuters poll. Revenue: 4.97 billion Swiss francs, vs. expected 4.94 billion […]
Read morePresident Donald Trump’s rhetoric on North Korean nuclear aggression has been widely criticized for being too inflammatory, but former United Nations Secretary-General Ban Ki-moon said he believes the Republican’s underlying message is inherently the right one. “I know there are some different interpretations on what President Trump has been saying, but his underlying message has […]
Read more