Euro zone economic growth slowed much more sharply than expected this month, a business survey showed, which along with weaker inflation has intensified concerns there will be no return to the bloc’s recent boom times. The European Central Bank will end its asset purchase program this year and hike interest rates in 2019, a Reuters […]
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Renowned fund manager says Italy won’t exit the euro and we won’t face another Brexit
The two anti-establishment parties looking to clinch power in Italy will not take the country out of the euro zone and reject the single currency, the co-chief of asset management firm Standard Life Aberdeen told CNBC Wednesday. The resurgence of the Five Star Movement (M5S) and Lega — two anti-establishment parties putting together the next […]
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Italy's populists face setback on their new leader amid scrutiny over his CV
The two anti-establishment parties looking to share power in Italy face the prospect of having their first choice for prime minister rejected. The leaders of the Five Star Movement (M5S) and Lega, Luigi Di Maio and Matteo Salvini, chose a relatively unknown private law professor called Giuseppe Conte as the country’s next prime minister. They […]
Read moreBritain’s Marks & Spencer on Wednesday reported a 5.4 percent fall in full-year profit, a second straight decline, hurt by a weakening in the food profit margin. M&S, one of the best-known names in British retail, made a pretax profit before one-off items of 580.9 million pounds ($778.6 million) in the year to March 31. […]
Read moreEuropean stocks are set to open lower on Wednesday morning, amid souring market sentiment over the progress made in trade talks between the world’s two biggest economies. The FTSE 100 is seen off by 39 points at 7,856; the CAC is expected to open around 22 points lower at 5,627 while the DAX is poised […]
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Barclays is reportedly looking at a potential merger with Standard Chartered
Barclays has spoken to its rival bank Standard Chartered about a potential merger but no formal or informal bid was made, the Financial Times reported on Wednesday, citing two unnamed sources. One director each from the two London-headquartered banks met to discuss the possible benefits of merging, the FT said. The conversation that took place […]
Read moreEven with most Americans feeling more financially secure than they did five years ago, many continue struggling to set aside any type of savings. About 40 percent of adults said that if faced with a $400 unexpected expense, they would either not be able to pay it or would do so by selling something or […]
Read moreMuslims around the world began the month of Ramadan last Thursday, abstaining from food and drink during daylight hours. The Islamic lunar calendar means that the start date of Ramadan moves forward by under two weeks every year versus the Gregorian calendar. In countries near or on the equator, such as Saudi Arabia, Singapore and […]
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Facebook’s Mark Zuckerberg is heading to Brussels — here's what European lawmakers want to know
Facebook CEO Mark Zuckerberg is set to meet with lawmakers in Europe on Tuesday as concerns over the way his company handles its users’ data continue to pile up. Antonio Tajani, president of the European Parliament, announced Monday that the meeting with Zuckerberg would be webcast live. It is set to be broadcast on the […]
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UK government looks to force open $640 million fund untouched since 1928 to pay off national debt
The U.K. government will go to the country’s highest court Tuesday in a bid to force open a £475 million ($640 million) charity fund set up 90 years ago with the intention of paying off the national debt. The “National Fund” was opened in 1928 by an anonymous benefactor who donated £500,000, but on the […]
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