European markets are set to open higher Wednesday morning, despite heightened fears of a full-blown Sino-U.S. trade war. The FTSE 100 is seen 52 points higher at 7,655; the CAC is expected to open up around 33 points at 5,424 while the DAX is poised to start 53 points higher at 12,742, according to IG. […]
Read moreChancellor Angela Merkel said she and French President Emmanuel Macron agreed on Tuesday to create a euro zone budget charged with boosting investment in the currency bloc and promoting economic convergence between its 19 member states. “We are opening a new chapter,” Merkel said after talks with Macron on European reform ahead of a June […]
Read moreAs China and the U.S. near a trade war, both nations bring different weapons to the table. For the U.S., it’s direct tariffs on the plethora of goods it imports, while for China the calculus is a little different. China is limited somewhat in the amount of retaliatory tariffs it can apply, simply because it […]
Read moreThe British government has confirmed it will review the use of cannabis for medicinal use. Home Secretary Sajid David told the U.K. parliament Tuesday that the use of cannabis-based medicines in the health service should be examined, as the current setup wasn’t working. “It is not satisfactory for the parents, it is not satisfactory for […]
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VW names interim Audi boss, seeking to steady brand after its CEO's arrest
Volkswagen suspended Audi boss Rupert Stadler and announced an interim replacement on Tuesday, seeking to steady its most profitable business after German authorities arrested Stadler as part of an emissions probe. Audi said Stadler, 55, had requested to temporarily step down from his position, and named sales executive Abraham Schot as an interim replacement with […]
Read more“I’m not saying there won’t be a little pain,” President Trump said in April about the tense trade negotiations and ensuing brinksmanship between the U.S. and China. That day the Dow closed down 700 points when China threatened $50 billion in retaliatory tariffs on U.S. goods. Subsequent events have done little to relieve the pain. […]
Read moreU.S. homebuilding surged to near an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity will remain moderate. Housing starts jumped 5.0 percent to a seasonally adjusted annual rate of 1.350 million units last month, the Commerce Department […]
Read moreEmerging markets have been under pressure as a result of a strengthening dollar and trade war fears, and central banks in turn are facing tough decisions on monetary policy. South Africa’s central bank has plenty on its plate, especially within the context of a new president and unenviable credit ratings following years of corruption and […]
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'Belligerent' US trade stance could hurt America's iconic companies the most, Jim O'Neill says
America’s biggest and most iconic companies will be the ones to suffer if the U.S. plows ahead with trade tariffs on China, renowned economist Jim O’Neill told CNBC on Tuesday. “I often say to people that America’s most iconic modern company, Apple, has for three years sold more iPhones to Greater China than it has […]
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Irish central banker says it's too early for the ECB to discuss future rate hikes
The European Central Bank (ECB) is not yet in a position to discuss its future rate hike path, the governor of the Irish central bank, Philip Lane, told CNBC Tuesday. The ECB decided last week to put an end to its massive stimulus program this coming December. The bank also indicated that it is unlikely […]
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