The creation of a new Italian government proved to be a long, uncertain and publicly painful process for all involved. But after almost three months, Lega and Five-Star Movement (M5S) formally joined forces last week, with a hybrid cabinet consisting of some rather odd political bedfellows, drawn from across the ideological and professional spectrum. These […]
Read moreBritain is selling some of its stake in Royal Bank of Scotland for about 2.6 billion pounds ($3.5 billion), although it will realize a significant loss as it unwinds its holding and returns the bailed-out lender to private hands. The government said on Monday it would sell about 7.7 percent of RBS, which was rescued […]
Read moreEuropean bourses look set to begin Tuesday’s session on the back foot as trade concerns continue to worry global markets. The German DAX is seen opening down 20 points at 12,760 while the U.K. FTSE and the French CAC are expected to open 15 points lower at 7,722 and 5,455 respectively. Meanwhile, the Italian FTSE […]
Read moreIf the U.S. wants China to play fair on trade, pushing away like-minded allies is not the way to make it happen, a leader of the American business community in China said Monday. “Maybe it’s the worst tactic, as far as we can see here in China,” William Zarit, chairman of the American Chamber of […]
Read moreJordanian Prime Minister Hani Mulki resigned from his government position Monday in the wake of several days of mass protests in the capital Amman — the country’s largest demonstrations in more than five years. The resignation, reported by Reuters quoting an official source, was said to have been brokered during a meeting with the country’s […]
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Greece still believes its getting its debt deal this month — even without money from the IMF
The Greek government is confident that rules surrounding its debt repayments will be relaxed this month, despite reports that the International Monetary Fund (IMF) is unlikely to unlock more money for Athens. “The general atmosphere is that there will be an agreement on debt at the June Eurogroup,” a Greek government official, who did not […]
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Major bank CEOs say blockchain will underpin the financial industry 'in five years'
Blockchain technology could soon revolutionize the global banking industry, according to the chief executives of two major European lenders. Banks have invested millions in developing blockchain applications in recent years, as part of a broader industry effort to try to cut costs and simplify their back-office processes. The technology, which is perhaps better known as […]
Read moreWASHINGTON — Two weeks ago, Steven Mnuchin, the Treasury secretary, declared that the trade war with China was “on hold” and that the United States would temporarily holster its tariffs. The reassuring comments calmed markets and raised hopes that Mr. Mnuchin, one of President Trump’s most enduring and trusted advisers, was winning the internal trade […]
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Merkel lays out her vision for the euro — but her ideas are still far from Macron's
German Chancellor Angela Merkel ended her silence on euro zone reform by showing some willingness to increase risk-sharing — a long-standing issue for many politicians in Berlin. Merkel on Sunday revealed her vision for the future of the euro zone bailout fund — the European Stability Mechanism (ESM) — and for an investment budget to […]
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Facebook reportedly gave personal data to 60 companies including Apple, Amazon and Samsung
Facebook struck dozens of data-sharing deals with smartphone and tablet makers over the last decade, according to a report by The New York Times. The newspaper revealed Sunday that Facebook had formed at least 60 data-sharing partnerships with device makers including Apple, Amazon, Microsoft and Samsung over the last 10 years. Without explicit consent, these […]
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