Russian President Vladimir Putin said on Tuesday Russia had overcome all hardship related to Western sanctions as he spoke at a news conference in Vienna after talks with Austrian President Alexander Van der Bellen. Asked about European Union sanctions imposed on Russia, Putin said sanctions and protectionist measures are harmful to all sides involved and […]
Read moreOne of the most powerful men in aviation has 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 Middle East […]
Read moreHoward Schultz, Starbucks‘ outgoing executive chairman, on Tuesday singled out the national debt as the biggest domestic threat to the U.S. in a critique that spared neither Democrats nor the Trump administration’s economic policies. Schultz, a past critic of President Donald Trump’s landmark tax legislation signed in December, acknowledged that “the economy is strong,” and […]
Read moreCurrency, United States Finance
UK government clears Fox's bid for broadcaster Sky, pending the sale of Sky News
Britain’s government said Tuesday it was now prepared to give Twenty-First Century Fox the provisional go-ahead to buy Sky, subject to the sale of its Sky News channel. If approved, it could pave the way for a dramatic bidding war with U.S. media giant Comcast. Culture Secretary Matt Hancock said Fox’s proposal to divest Sky […]
Read moreCurrency, United States Finance
Germany’s Continental bans WhatsApp and Snapchat from company phones
German automotive supplier Continental AG has banned its workers from using the messenger services WhatsApp and Snapchat on company phones. The firm said Tuesday that the ban, effective immediately, was put in place over concerns about the security of people’s data saved in the contacts list of a phone or tablet. “These services have deficiencies […]
Read moreEast African growth hub Ethiopia lifted its state of emergency two months early on Tuesday, and now could be the time for frontier market investors to dive in, according to analysts. “Ethiopia’s parliament has just ratified overwhelmingly the draft bill from the cabinet that lifts the state of emergency,” Fitsum Arega, the prime minister’s chief […]
Read moreSpain has a new leader but many analysts believe he will not stay in power until the end of his mandate, potentially raising further uncertainty for market participants. Pedro Sanchez, leader of the Socialist Party (PSOE) became prime minister last week. This after he received support from anti-austerity and nationalist parties to oust the former […]
Read moreCurrency, United States Finance
Italy accuses the ECB of political interference — but the experts are unconvinced
The European Central Bank (ECB) is under renewed criticism for buying fewer Italian sovereign bonds in May, when political instability meant it was a time when Rome may have needed it the most. The new populist Italian government was quick to highlight a data release Monday that showed the euro zone’s central bank bought a […]
Read moreCurrency, United States Finance
Switzerland is set to vote on a radical sovereign money plan: Here’s what you need to know
An upcoming referendum in the wealthy Alpine nation of Switzerland could be set to dramatically transform the global banking industry. Swiss voters go to the polls Sunday to decide whether the country should switch to a so-called sovereign money system. The referendum is attracting international interest because of how it reflects debates held by economists […]
Read moreCurrency, United States Finance
Italy's populists are on a roll as coalition looks to pass confidence votes
Italy’s new populist government, made up of a coalition of relative political newcomers, will face its first test Tuesday. The Italian Senate will debate and then hold a vote of confidence on the new cabinet and government program, before the Parliament’s other chamber holds a similar vote. The two anti-establishment parties, Lega and the Five […]
Read more