Rising interest rates and rising home prices are cutting into mortgage demand, as fewer consumers have the incentive to refinance or buy a home. Total mortgage application volume slipped 0.4 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume now stands 24 percent lower than a year […]
Read moreEurope’s political leaders are calling for a quick and meaningful solution to the constitutional crisis enveloping Spain following the Catalonia region’s “illegal” referendum vote Sunday, with fears that the vote could spread uncertainty throughout the continent. As the situation stands, Catalan leader Carles Puigdemont said Tuesday that his government is ready to declare independence “in […]
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The EU is taking Ireland to court for failing to recover taxes from Apple
The European Commission is taking Ireland to court for failing to recover taxes from Apple. The executive arm of the EU ordered Ireland last year to recover 13 billion euros ($15.28 billion) back from Apple after it said the U.S. multinational firm benefited from sweetheart tax deals. “Ireland has to recover up to 13 billion […]
Read moreAmazon has been ordered to pay 250 million euros ($294 million) back to Luxembourg after the European Commission found that the online retailer had received illegal tax benefits. According to the European Commission, Amazon received tax advantages between 2006 and 2014. The European Commission opened its investigation into Amazon and Luxembourg’s tax arrangements in October […]
Read moreThe high-end tire maker Pirelli saw a difficult comeback to the stock market on Wednesday, but its CEO told CNBC that it’s too early to fully assess the reaction from investors. Speaking to CNBC after Pirelli’s market debut, CEO Marco Tronchetti Provera promised to deliver margin growth of 9 percent until 2020. “I think the […]
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Lithium has investors in a ‘frenzy’ — and soon you’ll be able to trade it too
The future of electric vehicles has led several investors to view lithium as the hot new commodity. Governments and car manufacturers alike have taken steps to electrify fleets and further phase out the combustion engine. In turn, a number of traders now believe lithium to be a high-return investment as demand soars. This is no […]
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Catalonia's leader: 'We will declare independence in a matter of days'
Catalonia’s pro-independence leader has said that the region will declare independence from Spain “in a matter of days.” Speaking to the BBC on Tuesday, the head of Catalonia’s devolved government Carles Puigdemont said his administration would declare independence fromSpain “at the end of this week or the beginning of next.” “We are going to declare […]
Read moreEuropean equities are set to open mixed on Wednesday morning as investors keep a close eye on events in Catalonia, where the leader of the region’s separatist government has said he will declare independence “in a matter of days.” The FTSE 100 is expected to open 7 points lower at 7,459, the German DAX is […]
Read moreAn Indian-American dealmaker for HNA Group, who recently held a big stake in the Chinese conglomerate, said he kept the shares for a decade as an “accommodation” to the company and received no compensation for doing so. HNA shook up its ownership structure in July by transferring a near 30 percent stake, comprising shares formerly […]
Read moreThe World Bank raised its economic growth forecasts for developing East Asia and Pacific for this year and 2018, but added the generally positive outlook was clouded by risks such as rising trade protectionism and geopolitical tensions. The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow […]
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