Britain will outline its plans on Wednesday to escape the “direct jurisdiction” of the European Court of Justice after Brexit, one of Prime Minister Theresa May‘s main aims in talks to unravel 40 years of EU membership. The plans will be laid out in one of the most politically sensitive documents Britain has published this […]
Read moreNorth Korean leader Kim Jong Un has ordered the production of more solid-fuel rocket engines, state media said on Wednesday, as he pursues nuclear and missile programs amid a standoff with Washington, but there were signs of tension easing. The report carried by the KCNA news agency lacked the traditionally robust threats against the United […]
Read moreCambodia signed an agreement with Singapore-listed KrisEnergy Ltd on Wednesday to develop an offshore oil field that could finally see Cambodia produce its own oil after years of delays. Cambodia has struggled to develop oil fields in the Gulf of Thailand, as few companies are willing to invest in the area following the 2014 global […]
Read moreSome guys have all the luck. Fiat Chrysler boss Sergio Marchionne has not been one of them. Ever since General Motors rebuffed a merger attempt with its rival, the outspoken Italian CEO has been searching for a partner, unsuccessfully flirting with a crisis-hit Volkswagen and France’s PSA before the latter struck a deal for GM’s […]
Read moreCurrency, United States Finance
ECB chief Draghi gives nothing away on policy path ahead of Jackson Hole speech
President Mario Draghi gave little indication about the next steps for monetary policy in the euro zone during a speech on Wednesday ahead of a key meeting between central bankers. The European Central Bank chief seemed to have learned from his own mistakes by avoiding commenting on how and when he might bring monetary stimulus […]
Read moreEuro zone manufacturing businesses clocked their best month of growth in six-and-a-half years in August, offsetting the weakest services growth in seven months and keeping overall activity on steady path, a survey of private companies showed on Wednesday. IHS Markit’s Flash Eurozone Composite Purchasing Managers’ Index, considered a good guide to economic growth, edged up […]
Read moreFour mutual fund companies have marked down their investments in Uber Technologies by as much as 15 percent following the ride-hailing company’s scandal-ridden year, the Wall Street Journal reported on Tuesday. Three of the investors, Vanguard Group, Principal Funds and Hartford Funds, all marked down their shares by 15 percent to $41.46 a share for […]
Read moreCurrency, United States Finance
Germany is trying to stop China from gobbling up its companies — but there may be a downside
Think of Germany and it isn’t long before visions of bustling business districts and thriving manufacturing plants spring to mind. It isn’t surprising: it’s these industries that have elevated the country to rank among the world’s leading economies. But increasingly they have also become the subject of political power play with one of Germany’s biggest […]
Read moreChina’s yuan has been on a tear this year, but experts are predicting the run may be over — and it may even be poised for a downturn. The yuan’s rise has quickened in August, pushing year-to-date gains against the dollar to 4 percent. Thus far, the currency has recovered a good part of last […]
Read moreThe safe-haven Japanese yen and gold gained ground after President Donald Trump threatened a government shutdown if he doesn’t get funding for a proposed border wall with Mexico. “If we have to close down our government, we’re building that wall,” Trump said at a rally in Arizona. That sent the safe-haven yen higher, with the […]
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