The U.K. might be a capitalist society, but it doesn’t have enough money to support new businesses and real growth, the CEO of Legal and General told CNBC on Wednesday. As the U.K.’s finance minister prepares to deliver a new budget later this month, Nigel Wilson told CNBC: “We have capitalism in the U.K. without […]
Read moreCurrency, United States Finance
US backs Saudi Arabia and points the finger at Iran after Yemen missile attack
The White House has condemned a missile attack by Yemen’s Houthi militias on Saudi Arabia and said Iran “enabled” the attacks which had threatened stability in the Middle East. “Houthi missile attacks against Saudi Arabia, enabled by Iran’s Islamic Revolutionary Guard Corps, threaten regional security and undermine UN efforts to negotiate an end to the […]
Read moreSwitching on the Christmas lights in London’s world famous Oxford Street is usually a jubilant time for U.K. retailers, but this year the holiday season is full of uncertainty that could roll on into the new year. “Retailers are more paranoid this year than they usually are,” Keith Richardson, head of retail for Lloyds Bank, […]
Read moreCurrency, United States Finance
'Isolated' and 'dangerous': How the world's media views Trump one year after the election
A year on from Donald Trump’s election to the most powerful office in the world and the global media is appraising the U.S. president and America’s standing. Alongside the column inches in the U.S. devoted to weighing up President Trump’s record in office so far, numerous global media outlets have published features, polls and commentary […]
Read moreBritain’s Marks & Spencer on Wednesday reported a 5.3 percent fall in first-half profit, a second straight decline, hurt by sales falls, and said it would speed up the pace of its turnaround plan. M&S, one of the best known names in British retail, said it would accelerate its space rationalisation plan for clothing and […]
Read moreBritish broadcaster Sky has said that it could shut down Sky News if its ownership of the channel proves to be an obstruction to the company’s 11.7 billion-pound ($15.4 billion) takeover by Rupert Murdoch’s Twenty-First Century Fox. Fox’s 10.75 pound-a-share bid to acquire the 61 percent of Sky that it does not already own is […]
Read moreEuropean stocks are set to open lower Wednesday as investors focus on earnings and monitor President Donald Trump’s trip to Asia. The FTSE 100 is seen 13 points lower at 7,506; the CAC 40 is expected to start off also lower by 13 points at 5,470 and the German DAX is seen down by 52 […]
Read moreThe proposed Republican tax cuts will not pay for themselves through growth, and add “significantly” to the long-term United States debt, Fitch Ratings said in a Tuesday report. The estimates from the credit rating agency undercut a key argument of the GOP bill: that chopping tax rates will spark major economic growth and cancel out […]
Read moreThe steady rise in home prices is so far showing no boundaries, and that is turning up the heat on some already overheated housing markets. Home prices rose 7 percent nationally in September, compared to September 2016, a higher annual increase than was seen in August, according to CoreLogic, a real estate data firm. As […]
Read moreBitcoin and cryptocurrencies are unlikely to survive long-term as governments scramble to regulate them, according to the chief executive of French banking giant Societe Generale. Frederic Oudea said that, while he was a believer in distributed ledger technology — which allows data to be stored in enormous volumes across a secure network of computers — […]
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