On already shaky footing, Turkey’s economy and assets are likely to be affected as all eyes turn to what the powerful and growth-hungry winner of Sunday’s elections — President Recep Tayyip Erdogan — will do next. The country is faced with a multitude of issues: The decline of the Turkish lira, its sky-high inflation rate […]
Read moreEuropean equities are set to open lower on Monday morning as investors worry over further tariffs in global trade. The FTSE 100 is seen down by 39 points at 7,645, the German DAX is expected to open down by 47 points at 12,511 and the CAC 40 in Paris is seen off by 28 points […]
Read moreThe euro is irreversible, German Finance Minister Olaf Scholz said in a newspaper interview to be published on Saturday when asked if the single currency will still be there in 10 years. “Yes, the euro is irreversible,” Scholz told the Rheinische Post. “It secures our common future in Europe.” He added that an initial blueprint […]
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TWO decades ago, David Neeleman founded JetBlue Airways, promising to “bring humanity back to air travel.” It has since grown to become one of America’s largest airlines. But stories of poor service and a lack of humanity still abound in the country’s aviation industry. And so it appears that Mr Neeleman is back and preparing […]
Read moreEven as growth ramps up to what could be the fastest rate since before the financial crisis, economists are worried that a trade war could tip the U.S. into a significant slowdown or even a recession. Fears over a GDP pullback comes as President Donald Trump threatens another more severe round of tariffs aimed both […]
Read moreCurrency, United States Finance
What’s at stake in Turkey’s elections, and why Erdogan could actually lose
Turkey’s presidential and parliamentary elections on Sunday are crucial, and the most high-stakes in years. They will mark a serious concentration of power into the hands of the elected president, and could even see the powerful President Recep Erdogan and his Justice and Development party (AKP) defeated. Country analysts are calling this the closest contest […]
Read moreOPEC ministers and their allied partners meeting in Vienna have agreed on oil production levels starting from July. A source confirmed to CNBC that a deal has been struck and a statement critical of the U.S. that Iran wanted to include would not be in the final communique. A report from Reuters put the agreed […]
Read moreCurrency, United States Finance
OPEC heads into showdown over oil output, with Saudi Arabia and Iran on different sides
OPEC is scrambling to reach a deal over production policy amid heightened political tensions between some member states. Energy ministers have been laying the groundwork all week for Friday’s biannual meeting in Vienna, Austria, where OPEC is expected to ease supply constraints that have been in place since January 2017. De-facto OPEC leader Saudi Arabia […]
Read moreAirbus issued its strongest warning yet over the impact of Britain’s departure from the European Union, saying that a withdrawal without a deal on future trade would force it to reconsider its long-term position in the U.K. In a memorandum issued late on Thursday, Airbus said softer plans for a transition period ending in December […]
Read moreEuropean markets are set to open slightly higher Friday morning, amid ongoing tensions in the energy market ahead of an OPEC meeting that could expand crude production. The FTSE 100 is seen 12 points higher at 7,568; the CAC is also expected to open up around 12 points at 5,326 while the DAX is poised […]
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