A recovery in Italian stocks has been slowed by news that the leader of the right-wing Lega party has called for a new election. Matteo Salvini said Wednesday that he wanted new elections in Italy “as soon as possible.” Salvini added that holding a fresh vote in late July would be disruptive for many Italians, […]
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Here's how Italy ended up in political turmoil — and why it’s threatening a new euro zone crisis
Italy is embroiled in a dramatic power struggle between euroskeptic populists and pro-EU establishment lawmakers. The country has been plunged back into crisis mode after several weeks of protracted negotiations between anti-establishment groups ultimately failed to produce a new coalition government. As a result, Italy is back to square one. Italy has been without a […]
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Kremlin critic Bill Browder arrested and then released by police in Madrid
British investment fund manager Bill Browder was released from a Madrid police station on Wednesday because an Interpol arrest warrant for him was no longer valid, a Spanish police source said. The source could not confirm that the Interpol arrest warrant came from Russia. Neither could she confirm why the arrest warrant was no longer […]
Read moreChina lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit by U.S. Commerce Secretary Wilbur Ross. In an unexpected change in tone, the United States said on Tuesday that […]
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European Uber rival Taxify gets unicorn status with $175 million investment led by Daimler
Taxify, a European competitor to Uber, has raised $175 million in a funding round led by German automaker Daimler. The Tallinn, Estonia-based start-up secured a $1 billion valuation after the investment, helping it enter the ranks of Europe’s unicorn companies. Korelya Capital, a French venture capital fund, Taavet Hinrikus, the co-founder of U.K.-based money transfer […]
Read moreU.S. Commerce Secretary Wilbur Ross has called out the European Union for opposing trade negotiations at a time when China was willing to hold talks. “China are paying their tariffs,” Ross told the panel at an economic development forum in Paris on Wednesday, in response to EU criticism of sweeping import tariffs the White House […]
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Ad man Martin Sorrell makes comeback from WPP blow with tested tactic
Martin Sorrell is staging a comeback just six weeks after he was ousted from WPP, using the same formula as in the 1980s when he transformed a shell company into the world’s biggest advertising group. One of Britain’s best known businessmen, Sorrell said he would invest £40 million ($53 million) of his own money into […]
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London remains a 'very solid' city despite Brexit, consulting firm says
The longer-term outlook for London remains positive despite the uncertainty surrounding Brexit, according to global consulting firm A.T. Kearney’s 2018 Global Cities Report. London is “still very solid” in terms of business activity, cultural experience and its ability to attract top talent, said Olivier Gergele, consumer industries and retail practice partner at the firm. Speaking […]
Read moreJapanese Prime Minister Shinzo Abe and Russian President Vladimir Putin met over the weekend in Russia to discuss disputed Pacific islands and potential economic cooperation. It was the two leaders’ 21st meeting, but Russia-Japan discussions remain gridlocked, and there is little confidence that upcoming meetings could improve the situation, according to one expert. “From what […]
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Prominent Russian journalist who criticized Kremlin shot dead in Kiev
A prominent Russian journalist and critic of President Vladimir Putin was shot dead in Ukraine where he had fled into exile following threats, police said on Tuesday. Arkady Babchenko, 41, died of his wounds in an ambulance after his wife found him covered in his blood in their home, police said, adding they suspected the […]
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