Think of Germany and it isn’t long before visions of bustling business districts and thriving manufacturing plants spring to mind. It isn’t surprising: it’s these industries that have elevated the country to rank among the world’s leading economies. But increasingly they have also become the subject of political power play with one of Germany’s biggest […]
Read moreFormer chief strategist and campaign manager Steve Bannon‘s departure from the Trump White House surely does not mean an end to the demagogic racial politics in which Donald Trump has trafficked for decades. It does, however, seem to mark the final eclipse of the notion that Trump would move beyond demagoguery and construct a vision […]
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The Trump administration’s crackdown on immigration policy is contributing to a slowdown in Hispanic consumer spending, according to a recent Wall Street report. “Numerous consumer companies flagged weak spending from Hispanic consumers this earnings season,” wrote researchers at Jefferies. “Weakness doesn’t appear to be a result of a deteriorating macro backdrop; rather, it’s likely because […]
Read moreSenate Majority Leader Mitch McConnell‘s insistence that the U.S. government will not default on its debt may have laid the ground work for a potential rally, CNBC’s Jim Cramer said Tuesday. During a public event Monday in Kentucky with Treasury Secretary Steven Mnuchin, McConnell said there was “zero chance — no chance” that Congress would […]
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Difficult for Trump’s decision to send troops to Afghanistan ‘to be a win,’ former UK ambassador says.
It will be very difficult to see the U.S. winning in Afghanistan but President Donald Trump had no easy options, Peter Westmacott, former U.K. ambassador to the U.S., told CNBC Tuesday. President Trump changed his mind and announced Monday that the U.S. was stepping up its military intervention in Afghanistan. Though he did not clarify […]
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These stocks drove the world’s largest sovereign wealth fund to its best returns
Norway’s rainy day pot of cash has outperformed its own benchmark thanks to the second quarter surge in equity markets. The $975 billion fund is the largest sovereign wealth fund in the world and is bolstered by revenue from sales of oil. Nestle, China’s TENCENT and Swiss firm Novartis made the biggest positive contributions as […]
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The UK is preparing 11 post-Brexit trade deals … and it might all be for nothing
The U.K. government is preparing 11 trade deals to reduce the economic impact of leaving the European Union. However, all this work might be in vain. The department led by Liam Fox cannot negotiate any trade deal while a member of the European Union – which is the case until 29th March of 2019. It […]
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A German discount store just upstaged an affluent grocer in fierce battle for UK market share
The intense competition being faced by U.K. grocers was laid bare on Tuesday morning with new data showing that discount retailer Lidl has trumped upmarket Waitrose in the battle for market share. The German discount retailer has seen its market share rise to a new record high of 5.2 percent in the twelve weeks to […]
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Tech giants like Amazon and Facebook more disruptive to banks than fintech start-ups: Report
Banks are faced with more competitive disruption from tech behemoths than financial technology (fintech) start-ups, according to a report by the World Economic Forum (WEF). Contrary to concerns surrounding small fintech firms drawing business away from the financial services sector, the report concluded that start-ups had less of an impact than expected. “Fintechs have changed […]
Read moreAn earthquake hit the tourist-packed Italian holiday island of Ischia on Monday night, collapsing buildings, killing at least two people and injuring dozens, officials said. Residents and tourists on the island off the coast of Naples ran out on to the narrow streets from homes and hotels. Fearing aftershocks, many decided to leave the island […]
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