Deciding to merge large companies can be disruptive and will likely cause problems for at least one of the firms involved, the chief financial officer of Zurich Insurance told CNBC Wednesday. Recent reports have suggested that German firm Allianz could be interested in merging with its peer Zurich. Allianz Chief Oliver Baete told the Financial […]
Read moreA ramp-up in the pace and scope of tariffs could set the world back to 2008 in terms of global trade levels, the World Bank has warned. In its latest Global Economic Prospects report, published Tuesday, the multinational finance organization had a grim forecast for both emerging and developed markets in the event that the […]
Read moreCentral bankers gathered in Berlin Wednesday confirmed the European Central Bank (ECB) is set to finally discuss the end of its massive bond-buying program — something that its President Mario Draghi has so far refused to do. Speaking at a conference, the ECB’s Chief Economist Peter Praet said the bank will discuss next week how […]
Read moreInternational Paper confirmed on Tuesday that it will not make an offer for Irish packaging company Smurfit Kappa, because of lack of engagement from Smurfit’s management. “IP believes the revised proposal was highly attractive and formed a sound basis for engagement, which the company viewed as essential to determining the full value potential of the […]
Read moreRussian President Vladimir Putin praised his counterpart in the U.S., saying that a decision by President Donald Trump to set up a meeting with North Korea is “brave and mature.” Putin said he is expecting a “positive outcome” from the meeting between Trump and North Korean leader Kim Jong Un, due to take place in […]
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Man-made risks could cost global cities $320 billion a year, survey shows
Man-made threats including market crashes, cybercrime and interstate conflicts are a bigger threat to economic output than natural disasters, according to a new survey from insurer Lloyd’s. These risks have an estimated annual impact of $320 billion of global gross domestic product (GDP) for the 279 cities in the survey. The insurance giant said they […]
Read moreGuatemalan authorities warned that the Fuego volcano was showing signs of greater activity on Tuesday night as the death toll from a devastating eruption at the weekend climbed to 75 and nearly 200 people remained missing. The seismological, volcanic and meteorological institute Insivumeh heightened its warnings after the volcano erupted again earlier on Tuesday, forcing […]
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Macron says calls with Trump like sausages: better not know what's inside
French President Emmanuel Macron said on Tuesday his phone calls with U.S. President Donald Trump and other world leaders were just like sausages: better not explain what’s inside. During a news conference with Israeli Prime Minister Benjamin Netanyahu, Macron was asked about a CNN report on Monday saying that a phone call between the French […]
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Europe markets seen mixed, latest US-China trade developments in focus
Europe markets are expected to open to mixed trade Wednesday, with investors focusing on political developments in Europe and the latest chapter in the trade dispute between the U.S. and China. The Italian FTSE MIB is seen opening up 31 points at 21,774 but the anticipated gains and losses for the other major European bourses […]
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Qatar Airways boss apologizes for comment that a woman couldn't do his job
One of the most powerful men in aviation apologized for his suggested that a woman would not be equipped to do his job. Shortly after his appointment as the new chair of the International Air Transport Association’s (IATA) board of governors, Akbar Al Baker, reportedly stunned reporters when asked about poor representation of women in […]
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