Italy will follow suit with France and elect a pro-European government in next year’s general election, because to think there is an alternative is an “illusion”, the chief executive of Generali told CNBC. “As you have seen the result of the election in France was a very pro-Europe result. I think the same thing will […]
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TODAY’S labour market report showed that the American economy created 156,000 net new jobs in August. That was a bit less than expected, but payrolls are still growing comfortably faster than the working-age population. Despite having created over 2m jobs in the last year, pushing unemployment below 4.5% for the last five months, wage growth […]
Read moreU.S. consumer sentiment climbed in August from July as consumers remained optimistic about their personal financial conditions, although confidence was not quite as strong as economists had estimated, a survey showed Friday. The University of Michigan’s consumer sentiment index rose to 96.8 in August from a final reading of 93.4 the month before. The result […]
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In an era of strict security checks and other inconveniences for air travel, one American airport is making a sharp move in the opposite direction. On September 5th, Pittsburgh International will become the first American airport since the terrorist attacks on September 11th 2001 to allow people who are not booked on a flight to pass […]
Read moreThe American job machine remains in high gear. The economy has been creating close to 200,000 jobs per month for going on eight years. The 156,000 gain in August was on the soft side, but given a well-known bias in the Bureau of Labor Statistics’ estimate for the month, this number will be revised up […]
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Central banks must be ready with cash to calm Brexit nerves, warns bank lobby
Central banks should be ready to inject cash into the financial markets to keep them stable after Britain leaves the European Union in 2019, a draft report from a bank industry lobby said. The Association for Financial Markets in Europe (AFME), in a draft report seen by Reuters, said that regulators, central banks and national […]
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Kenya stocks plummet as Supreme Court rules presidential election was invalid
The Supreme Court of Kenya has overturned the result of the recent presidential election, meaning the contest will have to be re-run, leading to fears of unrest. Kenya’s President Uhuru Kenyatta won a second term in office on August 11 with a reported 54.3 percent of the vote, but the Supreme Court Friday ruled that […]
Read moreIn a week that’s already seen a slew of healthy economic data releases, housing appears to be a blemish on an overall strong economic backdrop. This week’s revised second quarter gross domestic product figure beat expectations, notching the fastest quarter-over-quarter pace of growth in 2½ years. Private sector job growth also surpassed estimates. Housing performance, […]
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Mark Zuckerberg calls on Trump to protect ‘dreamers’ from immigration reforms
Facebook CEO Mark Zuckerberg and a host of leading business executives have called on U.S. President Donald Trump to preserve the rights of “dreamers” under an immigration reform program founded by the Obama administration in June 2012. The Deferred Action for Childhood Arrivals program (DACA), a policy that grants leniency to undocumented immigrants brought to […]
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Immigration was a ‘legitimate concern’ in Brexit vote, leading UK economist says
A prominent U.K. economist and former chairman of the country’s financial regulator has split with his contemporaries by declaring that immigration was a “legitimate concern” in the Brexit vote last year, which he believes is now being overlooked in the current negotiations with the EU. “I think that the most fundamental reason why the Brexit […]
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