President Donald Trump and his team are not as well organized as the European Union, the president of the European Commission said in an interview with Politico. When asked about the recent events in the White House, Jean-Claude Juncker said that “it’s stunning” how Anthony Scaramucci was fired as communications director after 10 days in […]
Read moreGerman luxury automaker BMW AG says net profit rose 14 percent in the second quarter as earnings were boosted by the new version of the 5-Series sedan. Profit rose to 2.21 billion euros ($2.60 billion) in the April-June period from 1.95 billion euros a year earlier. CEO Harald Krueger said Thursday strong earnings would ensure […]
Read moreMusic can be a sideshow to a luxury travel experience at Tomorrrowland music festival in Belgium. The electronic dance music festival in the tiny Belgian town of Boom has become a can’t-miss event that, for many, includes snacking on organic granola, relaxing in a luxury cabana, or taking a crossfit gym class. Tomorrowland’s popularity has […]
Read moreThe Federal Reserve‘s looming attempt to shrink its mammoth portfolio of bonds comes with an ugly track record: Virtually every time the central bank has tried it in the past, recessions have followed. Over the past several months, the Fed has prepared markets for the upcoming effort to reduce the $4.5 trillion it currently holds […]
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German automakers agree to update software of 5 million diesel cars to cut emissions
German automakers and politicians have come to an agreement to cut emissions by updating the software of 5 million diesel cars. The VDA, Germany’s auto industry association, said that German carmakers would install new engine software to make emissions filtering systems more efficient and tackle air pollution by cutting nitrogen oxide levels by 25-30 percent. […]
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COMPARED with Brexit, Bitexit seems a piece of cake. On August 1st, without much agonising or awkward negotiation, a group of Bitcoin activists and entrepreneurs managed to create a second version of the crypto-currency. It immediately gained a following: in less than a day of existence, the value of a unit of “Bitcoin Cash” jumped […]
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How 125 miles of coastline could add $4 billion and 35,000 jobs to Saudi Arabia’s economy
Saudi Arabia has unveiled an enormous new tourism project spanning more than 100 miles of its Red Sea coastline as part of continued efforts to boost the economy and international standing of the Middle Eastern Kingdom. The 13,000 square mile project will see 50 untouched islands transformed into “an exquisite luxury tourism destination”, governed by […]
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US power and influence seen as a major threat by over a third of people worldwide: Study
The power and influence of the U.S. is seen as a major threat by more than one third of people worldwide, according to a report published Tuesday. Research by the Pew Research Center found that 35 percent of people surveyed across 38 different countries said the U.S.’s power and influence posed a big danger to […]
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Bank of England hike talk simmers down with concerns that inflation has peaked
Summer data appear to have given doves a boost ahead of Thursday’s Bank of England (BOE) rate decision, with just 2.5 percent of analysts polled by Reuters expecting a rate rise. Investors seem to be nodding in agreement with market indicators pointing to a mere 8 percent chance of a 25 basis point tightening this […]
Read moreThe newly-elected French president has sparked a row with Italy over the sale of a shipyard, raising questions over his pro-European credentials. Rome had agreed to buy a majority stake in the French shipyard but President Emmanuel Macron wants shared control. Officials from both countries failed to reach an agreement on Tuesday. But they hope […]
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