We might be in for a big surprise when it comes to second quarter earnings. It’s early — only two dozen companies (about 5 percent of the S&P 500) have posted earnings for the period, but the results from the early reporters like Nike, Oracle and Darden have been surprisingly strong. Profits from those 23 […]
Read more
Germany is admired for a stable economy and holding on to blue-collar jobs but derided for its persistent trade surpluses. Our economics editor John O’Sullivan examines what Chancellor Merkel’s government might do next. Also, how “total immersion” could drive the masses to virtual reality. And why banks are de-risking to avoid penalties. Hosted by Simon […]
Read more
BNP PARIBAS, France’s biggest bank, pleaded guilty in America three years ago to assisting a monstrous regime in east Africa. In 2006, it had helped to finance Sudan’s government, which in turn supported militias that massacred tens of thousands of civilians in Darfur. The firm thereby abetted in genocide and circumvented American sanctions on Sudan. […]
Read moreCurrency, United States Finance
German banks pose a threat that politicians want to hide, economist says
With the Italian banking system in the spotlight, analysts have highlighted that Germany’s lenders are still not out of the woods, saying shipping loans and too many bank branches are some of the very real problems they are currently facing. German officials repeatedly tell EU members from the south of Europe to restructure their banking […]
Read moreCurrency, United States Finance
Trials linked to downing of passenger flight MH17 to be held in Netherlands
Suspects in the 2014 downing of passenger flight MH17 in eastern Ukraine will be tried in Dutch court and under Dutch law, the Netherlands’ foreign ministry said on Wednesday. The decision follows attempts, blocked by Russia in 2015, to set up an international court over the incident, which killed all 298 people aboard the Malaysia […]
Read moreCurrency, United States Finance
Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion
The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector. Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 […]
Read moreGeely-owned Volvo Car Group said on Wednesday all new models launched from 2019 will be fully electric or hybrids, spelling the eventual end to nearly a century of Volvos powered solely by the internal combustion engine. The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it […]
Read moreCurrency, United States Finance
French prime minister taunts Trump as ‘scared of the future’ and compares him to an ostrich
France’s newly-installed Prime Minister Edouard Philippe has used his first address to Parliament to make a subtle rebuke at President Donald Trump, saying that anybody who refused to sign the Paris climate agreement was not only selfish but “scared of the future.” In outlining his government’s reform agenda Tuesday, the 46-year-old lawyer turned politician reiterated […]
Read moreCurrency, United States Finance
'Best time in history' for China-Russia relationship: Xi and Putin boost ties
Strategic ties between Russia and China were appraised in glowing terms as Chinese President Xi Jinping wrapped up a two-day state visit to Russia, concluding with at least $10 billion in agreements. Xi, who met with Russian President Vladimir Putin during the trip, told Russian media that relations between the two countries were currently at […]
Read morePrime Minister Edouard Philippe told lawmakers on Tuesday that it was time to end France’s addiction to public spending and rein in debts that he said were at an unacceptable level. France’s new president, Emmanuel Macron, sees taming France’s spending and reducing its budget deficit was key to winning the trust of European Union partner […]
Read more