A new app by HSBC will allow U.K. customers to view bank accounts they have with different providers, in a major step towards meeting new European Union rules. The retail lender said Thursday it will introduce the HSBC Beta app from late October onward. It will initially be available to 10,000 HSBC customers. As a […]
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Europe's most important economic policymaker is reportedly changing jobs
German Finance Minister Wolfgang Schaeuble will become President of the German parliament, a position that would require him to quit as minister, a conservative party source told Reuters on Wednesday, confirming a report by Bild newspaper. Bild reported that Schaeuble, the longest-serving member of parliament, had been urged by Chancellor Angela Merkel to take the […]
Read moreWith the holiday season approaching, this week Target became the first low-wage chain to announce it will raise pay to $15 an hour. Chief executive Brian Cornell said the decision to raise wages to $15 by 2020 will help Target attract and retain talent as the hyper-competitive retail sector enters its busiest quarter. It also […]
Read moreNew orders for key U.S.-made capital goods increased more than expected in August and shipments maintained their upward trend, pointing to underlying strength in the economy despite an anticipated drag to growth from Hurricanes Harvey and Irma. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business […]
Read moreRepublicans will unveil sweeping changes to America’s tax code Wednesday in a proposal that dramatically lowers taxes on businesses and many households but remains silent on thorny issues such as how to pay for it all. A joint product of the Trump administration and Republican leadership, the framework, obtained by CNBC, calls for lowering the […]
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European rail mega-merger is about business not politics, Siemens and Alstom CEOs tell CNBC
Siemens and Alstom’s decision to merge their rail operations is about business and not politics, according to the companies’ CEOs, despite the deal being framed as a response to China’s advancing dominance. “The rationale is undoubtedly (to do with) business, it’s a unique opportunity to create a global leader and a European champion… in a […]
Read moreThe start of the fall housing market usually offers a nice bump to the mortgage business. Not this year. Mortgage application volume fell 0.5 percent last week from the previous week. Volume on the Mortgage Bankers Association’s seasonally adjusted survey is now 21.5 percent lower than a year ago. A jump in mortgage interest rates […]
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THE British Labour party is in buoyant mood at its annual conference, expecting to be in power very soon. And it has already started to think about the consequences, including a possible run on the pound if it takes office. But not everyone thinks this is likely; Simon Wren-Lewis, an economist, challenged people to think […]
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Socialist firebrands in UK prepared for a major pound sell-off if elected
The U.K.’s Labour party has come under fire after its shadow finance minister said he was prepared for a run on the pound if the Labour party won the next general election. In remarks made at a fringe event during the Labour Party’s annual conference this week, Shadow Chancellor John McDonnell said he would plan […]
Read moreBritish Prime Minister Theresa May said she was bitterly disappointed by a U.S. decision to slap heavy duties on Bombardier Inc‘s CSeries jets which are partly made in Northern Ireland. May had urged U.S. President Donald Trump to help find a solution to the Boeing-Bombardier dispute which has put around 4,200 jobs at risk in […]
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