Russian President Vladimir Putin will be hoping that the World Cup, which starts on Thursday and puts his country in the international spotlight, will bring an economic boost – but experts are downbeat about any long-term benefit. Russia will host the largest event on the footballing calendar from June 14 to July 15, with the […]
Read moreThe party might be over soon for the 9-year-long bull market, J.P. Morgan strategist David Kelly told CNBC. “This economy will slow [in the] second half of 2019, 2020,” Kelly, who is chief global strategist at J.P. Morgan Asset Management, said Wednesday on “Power Lunch.” After President Donald Trump signed into law the Tax Cuts […]
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May to Brexit rebels: The UK Parliament can’t ‘tie the hands’ of my government
The prime minister of the United Kingdom told CNBC that Parliament can’t “tie the hands” of her government when it comes to Brexit negotiations. The prime minister managed to avert a rebellion among some parliamentarians Tuesday, who were calling for a decisive say if the U.K. ends up walking away from the European Union without […]
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UK government says it’s on the path to creating a tech giant to rival Google or Facebook
The U.K.’s top policymakers have said they want to produce tech companies to rival Silicon Valley giants such as Google or Facebook. On Wednesday, the government announced that technology firms are to invest nearly £2.3 billion ($3 billion) into the country, creating an estimated 1,600 new jobs. The cash injection, the bulk of which came […]
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UK leader Theresa May says 'special relationship' with the US means there can also be disagreements
The close relationship between the U.S. and the U.K. means the two countries can disagree on certain issues but still find solutions, British Prime Minister Theresa May told CNBC Wednesday. Speaking in an exclusive interview at 10 Downing Street, May said there are “some” issues where she doesn’t see eye-to-eye with President Donald Trump, but […]
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Arab states launch biggest assault of Yemen war with attack on main port
A Saudi-led alliance of Arab states launched the largest assault of Yemen’s war on Wednesday with an attack on the main port city, aiming to drive the ruling Houthi movement to its knees at the risk of worsening the world’s biggest humanitarian crisis. Arab warplanes and warships pounded Houthi fortifications to support ground operations by […]
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Auto firms are at risk of extinction in the UK after Brexit, business chief says
The U.K. car industry risks becoming extinct after Brexit, according to the president of a prominent business lobby group. Paul Dreschler from the Confederation of British Industry (CBI) claimed Wednesday that U.K. lawmakers had failed to help businesses in Britain make strategic decisions as the date for leaving the European Union loomed. “If we do […]
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UK inflation unexpectedly holds at one-year low despite oil price rise
British consumer price inflation unexpectedly held at a one-year low last month, though rising oil prices suggest an increase could be on its way, according to official figures which keep a Bank of England rate rise in view. Consumer price inflation held at an annual rate of 2.4 percent in May, its joint-lowest since March […]
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Britain's Dixons Carphone discovers data breach affecting 5.9 million payment cards
British mobile phone and electricals retailer Dixons Carphone said on Wednesday it had become the latest victim of cyber crime after discovering unauthorized access to its payment card data. “We have taken action to close off this access and have no evidence it is continuing. We have no evidence to date of any fraudulent use […]
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Salesforce announces $2.5 billion investment in the UK amid Brexit uncertainty
Cloud computing company Salesforce has announced a $2.5 billion investment in the U.K. over the next five years ahead of Prime Minister Theresa May’s Tech Investment Roundtable on Wednesday. The San Francisco-based firm, notable for its customer relationship management (CRM) platform used by multinational companies around the world, said it plans to increase headcount, data […]
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