QUAYSIDE, a 12-acre (4.8-hectare) stretch of flood-prone land on Toronto’s eastern waterfront, is home to a vast, pothole-filled parking lot, low-slung buildings and huge soyabean silos—a crumbling vestige of the area’s bygone days as an industrial port. Many consider it an eyesore but for Sidewalk Labs, an “urban innovation” subsidiary of Google’s parent company, Alphabet, […]
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Sluggish growth figures for Europe in the first three months of this year may not all be down to temporary factors, according to a Citi economist. The economy of both the 19-nation single currency area and the 28-nation European Union (EU) grew by 0.4 percent in the first quarter of 2018. That still represents growth, […]
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The Basque militant group ETA has announced that it has “completely dissolved all its structures,” in a letter sent to Basque institutions and civil society groups. In the letter, dated April 16 but only made public on Wednesday in Spanish online newspaper eldiario.es, ETA says it acknowledges its responsibility in failing to solve the Basque […]
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The creation of a euro zone finance minister could “damage the reputation” of the economic bloc, a think tank warned Wednesday. The Centre for European Economic Research (ZEW) said that a new position spearheading fiscal policy would add little value to the continent. “The creation of a European finance minister should by no means be […]
Read moreThe Trump administration’s focus on deregulation and the return of rising interest rates should benefit financial and banking stocks, according to Calamos Investments founder and chairman John Calamos Sr. “I’m not overly worried that the interest rates start to go back to normal. We forget that if interest rates were more normal, banks would be […]
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British Prime Minister Theresa May’s position in the Conservative party would be “difficult” if she agreed in Brexit negotiations to anything that resembled a customs union with the European Union (EU), a former U.K. trade minister said Wednesday. Francis Maude, senior adviser at Covington and once a Tory lawmaker, said that a customs union with […]
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Standard Chartered remains under U.S. supervision six years after accusations that the lender had breached Iran sanctions. The New York State Department said the British bank hid $250 billion worth of transactions with the Iranian government for nearly 10 years. Following an agreement in 2012, it has been under the care of an independent monitor […]
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Denmark’s Novo Nordisk, the world’s biggest maker of diabetes drugs, reported first-quarter operating profit above expectations on Wednesday and raised the lower end of its 2018 sales and profit forecast. Operating profit fell 8 percent to 12.4 billion Danish crowns ($2.00 billion) in the January to March quarter compared with a year ago, hit by […]
Read moreEuropean markets are expected to open higher Wednesday as investors keep their focus on earnings and monitor an upcoming Federal Reserve meeting. The FTSE 100 is seen up by 23 points at 7,541; the DAX is set to start higher by 50 points at 12,577; and the CAC 40 in Paris is seen up by […]
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SOME years ago, when Gulliver was a wide-eyed reporter on his first business trip, he sidled up to a bureau de change in London’s Heathrow Airport to buy some foreign currency. His nervous excitement quickly turned to dismay when the teller gouged 12% from the transaction, justifying the theft by tapping on a display-screen of […]
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