Russia has threatened to take retaliatory measures against the United States after diplomatic talks collapsed over the seizure of two mansions. U.S. and Russian officials met on Monday to reach an agreement over sanctions imposed by the Obama administration over alleged Russian hacking in the 2016 presidential campaign. However, the Russian foreign ministry said Tuesday […]
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Ericsson cuts 2017 market forecast as second-quarter earnings lag consensus
Mobile telecom equipment maker Ericsson reported a heavier than expected second-quarter loss on Tuesday and lowered its mobile infrastructure market forecast, dealing a fresh blow to the Swedish firm as it tries to restore profitability. The company has slashed jobs and accelerated cost cuts while shares have lost roughly a third of their value in […]
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Op-Ed: If Brexiteers need a real reason to leave the EU, then just look at Italy
As the painful and quite frankly embarrassing stumble out of Europe continues for the U.K., I watch with sadness at the pathetic lack of conviction of both the previous Remain and pro-Leave camps. It’s never been easier for this journalist to sit on the fence in splendid apolitical isolation given that the pro-Brexit camp seem […]
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This is why specialist beauty retailers might be your next investment
Consumers in U.S., Europe and the U.K. are increasingly favoring specialist retailers when purchasing their beauty products, a UBS report showed Monday. The shifting trend in consumer habits poses another threat to department stores at a time when they’re already being impacted by a growing preference for online shopping. “We see scope for a channel […]
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ECB considers special assessment of Deutsche Bank shareholders: paper
Europe’s top banking regulator, the European Central Bank (ECB), is considering carrying out a special assessment of Deutsche Bank’s two largest shareholders, a German paper reported on Sunday, citing regulatory sources. The ECB may launch so-called ownership control procedures to scrutinize both the Qatari royal family and China’s HNA, which each own just under 10 […]
Read moreThousands of government opponents protested in Warsaw and other cities in Poland on Sunday against new judicial reforms and future plans to change the Supreme Court. Legislation that was adopted last week has drawn condemnation from European Union politicians and from Poland’s opposition. They say it violates judicial independence and the rule of law. Under […]
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Global cyberattack could spur $53 billion in losses, warns Lloyd's of London
A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. The report, co-written with risk-modeling firm Cyence, examined potential economic losses from the hypothetical hacking […]
Read moreBrexit Secretary David Davis launches a round of negotiations on Britain’s withdrawal from the European Union on Monday when he meets the EU’s Michel Barnier for four days of talks between their teams in Brussels. A month after a first meeting where the two exchanged gifts inspired by a shared passion for hillwalking and spoke […]
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Trump said to ask British PM Theresa May to 'fix' a warm welcome for his state visit
President Donald Trump reportedly urged U.K. Prime Minister Theresa May to ensure he gets a warm welcome in Britain for his state visit—warning that he would not visit the country until he had been given guarantees, a British newspaper reported on Sunday. “When I know I’m going to get a better reception, I’ll come and […]
Read moreJPMorgan Chase CEO Jamie Dimon expressed frustration at the U.S. federal government during the company’s earnings conference call Friday. “It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid s— we have to deal with in this country,” Dimon said in response to an analyst question. “Since the […]
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