It could be at least another two weeks before supplies of carbon dioxide (CO2) to the United Kingdom return to normal, according to the British meat industry. A desperate shortage of food-grade CO2 in recent weeks has disrupted the normal operations of meat, alcohol and soda drinks producers in Europe, particularly affecting those based in […]
Read moreCurrency, United States Finance
Trump criticized for asking Saudi Arabia to raise oil output as if he was 'ordering a coffee’
President Donald Trump’s call for Saudi Arabia to abruptly increase oil production should be dismissed as political “noise,” one strategist told CNBC Monday. In a tweet posted on Saturday, Trump said Saudi Arabia’s ruler King Salman had agreed to his request and would soon raise oil output by up to 2 million barrels per day […]
Read moreCurrency, United States Finance
‘There is a thunderstorm coming from the West’: German business reacts to tariff threat
President Donald Trump’s threatened trade tariffs are like a “thunderstorm” facing Europe, according to the head of a German industry body. “There is a thunderstorm coming from the west of the Atlantic, and we should all prepare for this in Europe and we should work on these issues (around trade),“ Joachim Lang, director general of […]
Read moreIt’s too “premature” to say whether President Donald Trump‘s auto tariffs will come to pass, Commerce Secretary Wilbur Ross told CNBC on Monday. Ross also said it’s too early to tell whether the United States will withdrawal from the World Trade Organization. “We’ve made no secret of our view that there are some reforms needed […]
Read moreCurrency, United States Finance
The risk of a global recession has ‘significantly increased,’ strategist warns
A slew of global developments are convening to threaten economic growth, according to one investment manager, who believes that the risks of a recession next year have now “significantly increased.” Global growth stood at 3.8 percent in 2017 and it is set to add another 3.9 percent this year and the next, according to forecasts […]
Read moreCurrency, United States Finance
Mexico’s next president believes Trump is ‘erratic and arrogant’ — but vows to build ‘friendly' ties
Mexico’s Andres Manuel Lopez Obrador promised to seek friendly ties with the United States, shortly after claiming a landslide victory in the country’s presidential election. On the back of widespread frustration over endemic corruption and brutal violence, the 64-year-old former Mexico City mayor won around 53 percent of the vote, according to an official projection […]
Read moreGerman Chancellor Angela Merkel’s power base appears to be hanging on a thread after the leader of her long-term coalition partner reportedly offered to resign because of differences over immigration. The potential resignation of Horst Seehofer, the interior minister and head of the Bavarian-based Christian Social Union (CSU) which partners Merkel’s Christian Democratic Union (CDU) […]
Read moreCurrency, United States Finance
EU reportedly warns of new tariffs worth $300 billion if Trump targets automakers
The United States could get a new round of retaliatory tariffs worth as much as $300 billion, if it moves ahead with new duties on European cars, the Financial Times reported. In a written statement to the U.S. Department of Commerce, seen by the news publication, the EU set out clear plans to respond to […]
Read moreShares in Europe are expected to open sharply lower Monday morning as investors question the stability of the German government and wider trade links between the European Union and the U.S. The FTSE 100 is seen down by 74 points at 7,586; the DAX is set to open lower by 110 points and the CAC […]
Read moreCurrency, United States Finance
The US should quickly restore good and confident relations with Europe
The NATO summit in Brussels on July 11 and 12 is an opportunity for President Donald Trump to get the trans-Atlantic relations back on a constructive path — the place they should have never left. It is absurd to think and say, as some do, that the European Union was created as an opponent to […]
Read more