The Swiss National Bank (SNB) has said it is prepared to intervene in currency markets if it deems that the Swiss franc has gained too much strength. The central bank kept its main borrowing rate in negative territory Thursday as it acknowledged the risks of global trade friction and political change in Italy. Since April, […]
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OPEC kingpin Saudi Arabia just 'threw down the gauntlet' in its push to ramp up production
De-facto OPEC leader Saudi Arabia is pushing for the 14-member oil cartel to increase crude production by 1 million barrels per day (bpd) this week. Saudi Arabia’s Energy Minister Khalid al-Falih said Thursday that as the world is likely to face a large oil supply deficit in the second half of 2018, a substantial production […]
Read moreCritics of the Trump tax cuts repeatedly cited stock buybacks in arguments that corporations would spend any savings from the legislation to enrich shareholders rather than increase pay to employees. But the latest CNBC Global CFO Council survey found most chief financial officers saying their companies would be buying back stock with or without tax […]
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Greece awaits debt relief measures after nearly a decade of austerity
The Greek government is hoping to secure one its most important campaign pledges this Thursday – a deal to make its huge debt pile more sustainable – after years of austerity and bailout programs. Euro zone finance ministers are gathering in Luxembourg Thursday to prepare the end of the third financial rescue deal to Greece, […]
Read moreThe Bank of England may lay some groundwork on Thursday for an August interest rate rise, if it judges the economy is now turning a corner after an unusually weak start to the year. No economists polled by Reuters expect the BoE to raise rates when it announces its June policy decision at 1100 GMT, […]
Read moreThe Swiss National Bank maintained its ultra loose monetary policy on Thursday, citing the “fragile” exchange rate situation. The SNB kept its target range for the three-month London Interbank Offered Rate (LIBOR) at -1.25 to -0.25 percent, as unanimously forecast in a Reuters poll of economists. The central bank also held the negative interest rate […]
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European stocks seen higher ahead of OPEC meeting, BOE to announce rate decision
European markets are set to open higher Thursday morning amid growing tensions in the oil market ahead of an OPEC meeting that could expand crude production. The FTSE 100 is seen 23 points higher at 7,659; the CAC is expected to open up around 12 points at 5,390 while the DAX is poised to start […]
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In boardrooms, there’s a real fear that Italy could leave the euro zone
Italy’s battle with Brussels has triggered fears among executives that continental Europe’s third biggest economy will soon vote to leave the euro zone. Italy now has a right-wing populist government at its helm, with much of the power appearing to lie in the hands of interior minister and far-right Lega (League) leader Matteo Salvini. Euroskepticism […]
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Burger King apologizes for offer to women who get pregnant by World Cup players
Burger King has apologized for offering a lifetime supply of Whoppers to Russian women who get pregnant by World Cup players. Critics assailed the offer, announced on Russian social media, as sexist and demeaning. The announcement was removed Tuesday from Burger King’s social media accounts but was still circulating among Russian social network users. It […]
Read moreThe Trump administration’s zero tolerance policy for illegal immigration is shining a spotlight on U.S. detention efforts. Recent government handout images show children lying on the ground with Mylar blankets in kennel-like wire cages. Audio obtained by ProPublica captures children crying after being separated from their migrant parents. Though Trump signed an order he says […]
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