Russia’s central bank has been forced to rescue two major lenders in less than a month, intensifying concerns among global investors that a systemic banking crisis could be in the offing. The Russian government’s latest rescue of a major bank was confirmed on Thursday, when the Central Bank of Russia (CBR) said it had nationalized […]
Read moreJPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a “novelty” that is likely to end badly. “Right now these crypto things are kind of a novelty. People think they’re kind of neat. But the bigger they get, the more governments are going to close them down,” Dimon […]
Read moreEuro zone private businesses ended the third quarter with much stronger growth than predicted, bolstered by manufacturers, who had their best month since early 2011, a survey showed on Friday. That growth, alongside rising inflationary pressures, is likely to increase expectations the European Central Bank will announce plans next month to reduce its monthly spending […]
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'I am afraid': First far-right party set to enter German parliament in over half a century
Angela Merkel looks all but certain to take a fourth term in office as chancellor of Germany following an election on Sunday but many Germans are worried that a nationalist, ring-wing party could also gain a lot of votes. Only founded in 2013, the Alternative for Germany (AfD) party is currently polling in third place […]
Read moreLawmakers are formulating “meaningless” green vehicle regulations, according to Andy Palmer, CEO of British luxury car manufacturer Aston Martin. He said authorities were committing a fundamental misstep by stipulating what technologies should be adopted, referring to Britain’s July announcement that it would ban the sale of new petrol and diesel cars by 2040. The regulation […]
Read moreThe U.S. won’t just hurt its own credibility if it pulls out of the Iran nuclear deal, it will also make it more difficult to pursue dialogue with North Korea, Chinese state media said in an editorial published on Friday morning. President Donald Trump said Tuesday at the U.N. General Assembly that the 2015 nuclear […]
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European stocks seen lower on geopolitics; Brexit speech from UK PM on the radar
European stocks are seen lower Friday morning as geopolitical concerns take center stage. The FTSE 100 is seen down by 29 points at 7,235; the DAX is set to start off by 48 points at 12,559 and the CAC 40 is seen lower by 12 points at 5,259. Investors are set to take cues from […]
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FINANCIERS with PhDs like to remind each other to “read your Kindleberger”. The rare academic who could speak fluently to bureaucrats and normal people, Charles Kindleberger designed the Marshall Plan and wrote vast economic histories worthy of Tolstoy. “Read your Kindleberger” is just a coded way of saying “don’t forget this has all happened before”. […]
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German elections: Why hungry stock traders should be wary of Sunday's vote
German and broader European equities have enjoyed a stellar start to the year but during a bumpy summer stocks retraced many of those gains. Recent weeks have seen their fortunes improve once again but past performance suggests that the upcoming German Federal election scheduled for this Sunday, September 24, could threaten some of the current […]
Read moreGermans are heading to the polls on Sunday September 24 for a federal election which will ultimately decide whether the incumbent chancellor, Angela Merkel, has another four years in power. Polling stations open on Sunday morning and close at 6:00 p.m. local time (12:00 noon ET) and soon after, public broadcasters Das Erste and ZDF […]
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