A populist coalition government will be sworn into power in Italy Friday, ending months of political uncertainty in the euro zone’s third-largest economy. President Sergio Mattarella approved a patched up bid from Italy’s anti-establishment Five Star Movement (M5S) and right-wing Lega (League) party on Thursday evening, just days after a bitter feud roiled global financial […]
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The future of Europe's elections will be all about migration, foreign minister says
The determining factor in Europe’s forthcoming elections will be migration over anything else — even the economy, Hungary’s foreign affairs and trade minister told CNBC. “If you put into consideration the last three national parliamentary elections of Europe — Hungary, Austria, Italy — you’ll see that the parties that receive the most votes … (are) […]
Read moreCriticizing the U.S. will only backfire on European countries, according to Hungary’s foreign minister, who stressed the need for the EU to stop “bashing” the current administration. Speaking to CNBC in Paris Thursday, Foreign Affairs and Trade Minister Peter Szijjarto described positive engagement as the only way to avoid economic pain brought on by trade […]
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Soros foundation says minister’s accusations about Hungary pullout are ‘nonsense’
As it pulls up stakes and makes an exit from Hungary, George Soros’ philanthropic organization called the latest accusations from that country’s government about the pullout “nonsense.” Without providing specifics, Hungary’s Foreign Affairs and Trade Minister Peter Szijjarto told CNBC Thursday that Soros’ Open Societies Foundation (OSF) left the country because it didn’t want to […]
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The term “karoshi” translates to “death by overwork” in Japanese, and is a legal term recognized as a cause of death. An employee of Japan’s largest advertising firm, Dentsu, jumped to her death in 2015. The cause was said to have been depression caused by overwork. The case generated widespread attention and renewed calls to […]
Read moreClose to 230 China A shares debuted on index provider MSCI’s emerging markets benchmark on Friday, a move investors expect will attract billions of dollars in inflows to the mainland market. The partial inclusion of the A shares — yuan-denominated stocks traded on the mainland — to MSCI’s Emerging Markets Index takes place in two […]
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European stocks seen higher after Italy agrees to form a government; trade tensions limit gains
European markets are set to open higher Friday morning after Italian parties averted the prospect of a snap election, although renewed fears of a global trade conflict appeared to limit gains. The FTSE 100 is seen 8 points higher at 7,698; the CAC is expected to open up around 18 points at 5,421 while the […]
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New Airbus chief says it will be challenging to meet delivery goals, memo shows
Airbus faces an unprecedented challenge in ramping up production to meet 2018 delivery targets following engine delays and must eventually overhaul an outdated manufacturing system, the planemaker’s new president told staff on Friday. “We have a battle plan in place for this year and the engine manufacturers are working hard to meet their commitments. Still, […]
Read moreJapan called on the United States to join forces in stopping China from taking market-distorting investment practices in a bilateral finance leaders’ meeting, a senior Japanese finance ministry official said on Thursday. During the meeting with his U.S. counterpart Steven Mnuchin, Finance Minister Taro Aso also repeated Tokyo’s request for Washington to give Japanese steel […]
Read moreA closely watched measure of China’s economy is expected later on Friday morning as Caixin and IHS Markit release their manufacturing Purchasing Managers’ Index (PMI) for the world’s second-largest economy. Economists polled by Reuters expect the Caixin/IHS index to fall slightly to 51.0 in May from 51.1 in April. A reading above 50 indicates expansion, […]
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