The global rally in financial markets is unsustainable because it only seems to respond to changes in the real economy when it fits a certain narrative, according to the CIO of investment firm Fasanara Capital. “I call it fake markets… you know, these days they talk about fake news (but) these are fake markets in […]
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Italy has been forced to bail out two banks at a cost of as much €17bn euros ($19 bn). Is that the end of the bleeding in Italy’s financial sector? Also, as the iPhone turns ten, we look at how Apple is evolving. And Catherine Mann, Chief Economist at the OECD, tells us how to […]
Read moreCurrency, United States Finance
Hackers have made just 3.7 bitcoin – or less than $10,000 – with the latest cyberattack
Those behind the recent cyberattack affecting businesses around Europe have successful received a total of nearly 4 bitcoins, worth around $9621 at today’s price. On Tuesday, reports emerged of a ransomware virus affecting businesses and governments throughout Eastern Europe. Ukraine and Russia have been particularly affected. The malware, which has been identified as a modified […]
Read moreCurrency, United States Finance
‘NATO is important for Europe but it’s also important for the US', says NATO Sec Gen
NATO’s secretary general Jens Stoltenberg has insisted that the defense alliance’s commitment to support each other militarily is just as crucial for U.S. security as it is for that of Europe and Canada. “NATO is important for Europe but it’s also important for the United States,” Stoltenberg told CNBC Wednesday in a bid to preserve […]
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IMAGINE an industry where the average profit margins were 36%, where the regulator found little evidence of price competition and where the average person did not get the benefit of the lower charges available to the wealthiest customers. You would probably expect the regulator to throw a book the size of Thomas Piketty’s “Capital” at […]
Read moreTradeshift, a social network for connecting supply chains, does not necessarily see itself selling up anytime soon, its chief executive told CNBC on Wednesday. Speaking on the sidelines of the World Economic Forum in Dalian, China, Christian Lanng cited advice that he had received on his first trip to Silicon Valley from LinkedIn co-founder Reid […]
Read moreCurrency, United States Finance
Slack in the European economy looks worse than we thought, says ECB vice president
The difference between current and potential levels of output in the euro area economy could be greater than the European Central Bank (ECB) originally thought, its vice president, Vitor Constancio, warned on Tuesday. “What we see, what we observe is that domestic factors of inflation starting with wage and cost developments and then also price […]
Read moreHackers have caused widespread disruption across Europe, hitting Ukraine especially hard. Company and government officials reported serious intrusions at the Ukrainian power grid, banks and government offices. Russia‘s Rosneft oil company also reported falling victim to hacking, as did Danish shipping giant A.P. Moller-Maersk. Other Ukrainian companies reporting issues include the aircraft manufacturer Antonov and […]
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ONE of the more unsavoury airline practices has now been outlawed. In 2015 flight attendants on El Al, Israel’s national carrier, asked Renee Rabinowitz, an 81-year-old holocaust survivor, to move seats after she boarded her flight in New Jersey. An ultra-orthodox Jewish male passenger had objected to having to sit next to her. Haredim, it […]
Read moreU.S. home prices rose slightly less than anticipated in April, according to the S&P/Case-Shiller U.S. National Home Price Index. The national home price index increased 5.5 percent in April, versus 5.8 percent in March. Analysts were expecting an increase of 5.9 percent for the month, according to Thomson Reuters consensus estimates. The widely tracked 20-city […]
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