U.S. home sales increased more than expected in October as hurricane-related disruptions dissipated, but a chronic shortage of houses which is pushing prices beyond the reach of some first-time buyers remains an obstacle. The National Association of Realtors said on Tuesday that existing home sales rose 2.0 percent to a seasonally adjusted annual rate of […]
Read moreApple supplier Foxconn has been illegally employing students to work overtime in order to assemble the iPhone X, the Financial Times reported Tuesday. Six high school students told the Financial Times they would usually work 11-hour shifts to help assemble Apple’s flagship phone at a factory in Zhengzhou, China. The long working hours breach domestic […]
Read moreThe ongoing political turmoil in Germany could actually benefit Chancellor Angela Merkel, a political analyst told CNBC Tuesday. There have been reports that the current political impasse in Germany is affecting the popularity of the German leader, but according to Peter Matuschek, chief political analyst at polling company Forsa, “it’s quite the opposite.” “If we […]
Read moreIranian President Hassan Rouhani declared the end of the so-called Islamic State militant group Tuesday. Rouhani said he wished to thank all the “warriors of Islam” for helping to “put an end to a group that did not bring anything for us but evil, misery, destruction, murder and savagery.” “The bulk of the work was […]
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German liberal party member blames socialists for political turmoil, says there was 'zero' compromise
A member of the German liberal party blamed the country’s Socialist Party for the recent collapse in coalition talks to form a new government, despite the latter not being involved in the negotiations. “Keep in mind, why are we in this situation, why did we need four-party exploratory talks. It was because the second-largest party, […]
Read moreGerman Chancellor Angela Merkel started her unprecedented political career with a risky act by breaking ranks with her supporter and former leader Helmut Kohl. And she might also end her career in politics with a risky act by now preferring snap elections over a minority government. “I don’t have a minority government in my plans, […]
Read moreEuropean equities are expected to open mostly lower on Tuesday morning with investor sentiment curbed by a political impasse in Germany. The FTSE 100 is seen up by 3 points at 7,389; the DAX is set to open lower by 9 points at 12,053 and the CAC 40 is expected to start lower by 5 […]
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UK's embattled government set for budget update — here's all you need to know
A new financial plan for the U.K. is due Wednesday, with the announcement seen as a proxy vote on Theresa May’s leadership and pivotal for the embattled Conservative party. Finance Minister Philip Hammond will reveal the U.K. government’s official Autumn Budget, at a time when he’s under pressure from all sides. Euroskeptics have criticized him […]
Read morePersonal shopping is becoming increasing popular and a key tool for retailers seeking to know more about how people shop. The trend is global and there is now a wave of new businesses seeking to take advantage of personal fashion advice. “H&M, for example, could produce a dress and not know why it’s not selling. […]
Read morePresident Donald Trump on Monday promised a tax overhaul by Christmas, even as a nonpartisan tax analysis group said the Senate package would leave half of taxpayers facing higher levies by 2027. Speaking before a Cabinet meeting, Trump said, “We’re going to give the American people a huge tax cut for Christmas — hopefully that […]
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