France’s head of the armed forces resigned Wednesday citing cuts to the military’s budget under new President Emmanuel Macron. The move is the culmination of a public spat between the two men. In his resignation statement, translated by Reuters, General Pierre de Villiers said that: “In the current circumstances I see myself as no longer […]
Read more
Brazil’s rigid labour market regulations were transplanted wholesale from Benito Mussolini’s Italy back in 1943. Now President Michel Temer has approved an overhaul. Will it encourage job creation? Also, an exorcist in Paris fighting “bad spirits”. And why President Trump is playing hardball in renegotiating NAFTA. Hosted by Andrew Palmer. Podcast: Goodbye, Benito Revisiting “Jewels”, […]
Read more
IN THE 1970s, Britain was dubbed “the sick man of Europe”, a role previously played by the Ottoman empire in the late 19th century. A poor growth record since the second world war combined with terrible industrial relations (29m days lost to strikes in 1979) to make many ask the question “Is Britain governable?”. The […]
Read moreU.S. homebuilding rebounded more than expected in June after declining for three straight months, but construction activity remains constrained by rising lumber prices, labor and land shortages. Housing starts jumped 8.3 percent to a seasonally adjusted annual rate of 1.22 million units, the highest level since February as both single-family and multi-family construction increased, the […]
Read moreTurkey announced a new school curriculum on Tuesday that excluded Charles Darwin’s theory ofevolution, feeding opposition fears President Tayyip Erdogan is subverting the republic’s secular foundations. The chairman of a teachers’ union described the changes as a huge step in the wrong direction for Turkey’s schools and an attempt to avoid raising “generations who ask […]
Read moreCurrency, United States Finance
Crash in bond markets, Fed mistake are investors’ biggest fears right now, survey finds
Investors are more comfortable holding on to cash than investing in traditional assets as they consider a crash in global bond markets and a policy mistake by central banks to be the biggest tail risks to the market, according to a survey. The Bank of America Merrill Lynch July Fund Manager Survey that polled 207 […]
Read morePerhaps homeowners were scared by the recent jump in interest rates or by the expectation of higher rates ahead, but something sparked a jump in people applying for a mortgage refinance last week. Total application volume rose 6.3 percent for the week from the previous week. The Mortgage Bankers Association’s seasonally adjusted index shows volume […]
Read moreCurrency, United States Finance
US shale pumping means oil is stuck at $50 for the next two years, wealth manager says
Oil prices are likely to be stuck within a range of $40 to $60 for the next year or more, according to the latest investment forecast from U.K.-based wealth manager Coutts. In its mid-year investment outlook, published Wednesday, the private bank – which is reported to have the U.K. queen as one of its clients […]
Read moreCurrency, United States Finance
Ex-'Top Gear' host Chris Evans tops BBC's best paid list with salary of $2.9 million
Stuart C. Wilson | Getty Images Claudia Winkleman arrives for the GQ 25th Anniversary Exhibition at Phillips De Pury on November 12, 2013 in London, England. Of the 96 top people listed, only 34 are women while the remaining 62 were men. Just one, Claudia Winkleman, who presents entertainment shows including Saturday night’s “Strictly Come […]
Read moreCurrency, United States Finance
ECB to hold steady this week as traders eye a September ‘taper’ of its bond-buying program
The European Central Bank (ECB) is widely expected to hold interest rates steady on Thursday with many market watchers expecting the bank to announce in September plans to reduce its bond-buying program. ECB President Mario Draghi’s speech in Sintra was interpreted by many economists as a sign that the central bank was more optimistic about […]
Read more