China is looking to the European Union as its new best friend amid trade frictions with the United States. Prime Minister Li Keqiang met eastern and central European leaders in Sofia, Bulgaria, on Saturday, and vowed to open up China’s economy to the wider world. Keqiang is also meeting German Chancellor Angela Merkel on Monday […]
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The UK’s Brexit secretary just walked away from the job. Here’s what that means
The resignation of a key driver of the U.K.’s Brexit process is a blow for British Prime Minister Theresa May, but analysts believe she can survive the departure. Brexit Secretary David Davis resigned Sunday evening, objecting to May’s withdrawal plan that seeks to maintain close economic ties with the European Union (EU), rather than a […]
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SocGen chairman calls on regulators to help strengthen Europe’s banks
The chairman of Societe Generale said Europe‘s banking space should follow in the footsteps of the U.S.’s, calling on regulators to facilitate more consolidation in the region. Speaking to CNBC over the weekend, Lorenzo Bini Smaghi said that European banks need to become more concentrated, so they can compete with American lenders. “In general if […]
Read moreEuropean equities are expected to start the trading day higher as investors monitor developments on trade and react to news that the U.K.’s chief Brexit negotiator has resigned from his post. The FTSE 100 is seen up by 48 points at 7,653; the DAX is set to open higher by 64 points at 12,552; and […]
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While China slaps tariffs on the US, it's also championing free trade in Africa
Despite China’s rocky trade relationship with the U.S. dominating headlines, it has also just seen the opening of a strategic free trade zone it has built in East Africa. Djibouti, a tiny state located on the Horn of Africa, on Thursday opened the first phase of its Chinese-built International Free Trade Zone. The project, scheduled […]
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The 10-year US Treasury yield will hit 3.75% by the end of this year, investment manager says
Investors should prepare for a near 1 percentage point increase on the U.S. 10-year sovereign bond yield before the end of 2018, according to one investment manager, who cited robust wage growth and tightening monetary policy. The 10-year U.S. Treasury note is a benchmark government bond that helps set prices for debt instruments all over […]
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Ketchup is reportedly the next target as Europe prepares new tariffs on the US
The European Union is preparing a new list of duties against the U.S. in case President Donald Trump moves ahead with tariffs on European cars, the Financial Times reported Friday citing anonymous officials in the region. The list, which is reportedly set to include duties worth 18 billion euros ($21.07 billion), will target staples like […]
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Trump is set for a $6.6 million round of golf, but he won’t be picking up the tab
Donald Trump is expected to play golf at one of his courses in Scotland next week, a move that could cost the British taxpayer as much as £5 million ($6.6 million). The U.S. president makes his first official visit to the U.K. on July 13 when it is expected he will meet Queen Elizabeth II […]
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European stocks seen higher despite opening salvos in US-China trade war
European equities are expected to open higher Friday morning as investors monitor developments on the trade front as a deadline for tariffs from the U.S. and China passed overnight. The FTSE 100 is seen up by 34 points at 7,633; the DAX is set to start higher by 49 points; and the CAC 40 is […]
Read moreAmerica’s labor shortage is approaching epidemic proportions, and it could be employers who end up paying. A report Thursday from ADP and Moody’s Analytics cast an even brighter light on what is becoming one of the most important economic stories of 2018: the difficulty employers are having in finding qualified employees to fill a record […]
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