European stocks are set to open higher Thursday morning, as elevated concerns over Italy’s deepening political crisis showed signs of abating. The FTSE 100 is seen 32 points higher at 7,693; the CAC is expected to open up around 21 points at 5,429 while the DAX is poised to start 52 points higher at 12,797, […]
Read more
ARE you on America’s newest airport-security watch list? You could be, but you would never know. That is because the list is secret, and no one quite understands what it takes to land on it. News of the list emerged earlier this month, when the New York Times obtained a five-page internal directive from the […]
Read moreA dissident Russian journalist who was reported murdered in Kiev dramatically reappeared alive on Wednesday in the middle of a briefing about his own killing by the Ukrainian state security service. Ukrainian authorities had said on Tuesday that Babchenko, a 41-year-old critic of President Vladimir Putin and of Russian policy in Ukraine and Syria, had […]
Read moreCurrency, United States Finance
OECD predicts two more years of economic expansion, but oil and trade are major risks
The current outlook for growth is bright, but specific risks could endanger long-awaited progress, according to a report released Wednesday by the Organization for Economic Cooperation and Development (OECD). Global gross domestic product (GDP) growth is nearing the long-term average of 4 percent, the “cruising speed” reached before the financial crisis, the OECD’s 2018 Economic […]
Read moreU.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but income tax cuts are likely to boost activity this year. Gross domestic product increased at a 2.2 percent annual rate, the Commerce Department said in its second estimate of first-quarter GDP on […]
Read moreCurrency, United States Finance
Markets are pricing in a cut for Italy's credit rating to 'junk' status
Italy’s political turmoil has left Credit Default Swap (CDS) markets pricing in a super-sized sovereign rating downgrade, which, if it happened, would push the country deep into “junk-grade” territory. A gauge using CDS levels compiled by S&P’s Capital IQ analytics unit, known as a Market Derived Signal Score (MDS), now puts Italy’s government debt at […]
Read moreCurrency, United States Finance
Lega leader’s call for fresh election takes gloss off Italian recovery
A recovery in Italian stocks has been slowed by news that the leader of the right-wing Lega party has called for a new election. Matteo Salvini said Wednesday that he wanted new elections in Italy “as soon as possible.” Salvini added that holding a fresh vote in late July would be disruptive for many Italians, […]
Read moreCurrency, United States Finance
Here's how Italy ended up in political turmoil — and why it’s threatening a new euro zone crisis
Italy is embroiled in a dramatic power struggle between euroskeptic populists and pro-EU establishment lawmakers. The country has been plunged back into crisis mode after several weeks of protracted negotiations between anti-establishment groups ultimately failed to produce a new coalition government. As a result, Italy is back to square one. Italy has been without a […]
Read moreCurrency, United States Finance
Kremlin critic Bill Browder arrested and then released by police in Madrid
British investment fund manager Bill Browder was released from a Madrid police station on Wednesday because an Interpol arrest warrant for him was no longer valid, a Spanish police source said. The source could not confirm that the Interpol arrest warrant came from Russia. Neither could she confirm why the arrest warrant was no longer […]
Read moreCurrency, United States Finance
European Uber rival Taxify gets unicorn status with $175 million investment led by Daimler
Taxify, a European competitor to Uber, has raised $175 million in a funding round led by German automaker Daimler. The Tallinn, Estonia-based start-up secured a $1 billion valuation after the investment, helping it enter the ranks of Europe’s unicorn companies. Korelya Capital, a French venture capital fund, Taavet Hinrikus, the co-founder of U.K.-based money transfer […]
Read more