european-union

‘Flash crash’ thrashes sterling; dollar slides on U.S. jobs data

By Richard Leong and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Sterling plunged on Friday after what traders called a “flash crash” knocked the currency to a 31-year low, while the dollar slipped on news of unexpectedly weak U.S. jobs growth in September. “I think it’s a warning shot from the markets to the UK about what type of potential volatility …

View original post here: 
‘Flash crash’ thrashes sterling; dollar slides on U.S. jobs data

european-union

Finance leaders issue fresh warnings amid Deutsche worries, pound rout

World finance leaders issued fresh warnings about economic stability risks on Friday amid worries about a massive U.S. fine for Deutsche Bank destabilizing Germany's largest bank, a sharp fall in the British pound and weak global growth. Jeroen Dijsselbloem, the chairman of euro zone finance ministers, said that the U.S. Department of Justice's demand that Deutsche Bank pay $14 billion for its role in the sub-prime mortgage crisis is too big and will undermine financial …

The rest is here: 
Finance leaders issue fresh warnings amid Deutsche worries, pound rout

european-union

Oil prices fall on high production despite planned OPEC output cut

Oil prices fell away from $50 per barrel on Monday despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that has exceeded consumption for the better part of three years. Brent crude futures were trading down 25 cents, or 0.5 percent, at $49.94 per barrel at 0205 GMT. U.S. West Texas Intermediate (WTI) futures were down 26 cents, or 0.5 percent, at $47.98 a barrel.

See the rest here:
Oil prices fall on high production despite planned OPEC output cut

european-union

Senior Italian bankers to meet Monday over sale of four banks: sources

Italy's economy minister has called a meeting with some of the country's top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year, sources said. Bank of Italy Governor Ignazio Visco was expected to join the gathering, which comes just days after sources said the European Union had agreed to extend…

More: 
Senior Italian bankers to meet Monday over sale of four banks: sources

european-union

‘Times are changing, pay your taxes’, euro zone chief tells corporations

By Francesco Guarascio and Jason Hovet BRATISLAVA (Reuters) – Multinational companies should refrain from tax-avoidance practices and pay their fair share, the head of euro zone finance ministers said on Saturday in a new endorsement of the European Union's fight against tax-dodging. In the wake…

Read the original here: 
‘Times are changing, pay your taxes’, euro zone chief tells corporations

european-union

British businesses ‘lazy and fat’, pro-Brexit trade minister says

Britain as a trading nation has become “too lazy and too fat” and business leaders are more interested in playing golf on Friday afternoons than in seeking new export markets, International Trade Secretary Liam Fox was recorded saying. Fox, who was a prominent campaigner for Britain to leave the European Union and says the country must forge new trading relationships with the rest of the world, was recorded making the comments during a drinks party with activists…

Excerpt from: 
British businesses ‘lazy and fat’, pro-Brexit trade minister says

european-union

China’s BYD forecasts up to 91 percent profit rise for first nine months

Chinese automaker BYD Co Ltd , backed by Warren Buffett's Berkshire Hathaway Inc , on Sunday predicted an up to 91-percent profit increase in the first nine months of the year, as government policies drive green car sales. The Shenzhen-based company forecast an 83 percent to 91 percent rise in net profit for the first nine months, between 3.6 billion yuan ($539.8 million) to 3.7 billion yuan, according to a stock exchange filing. For the first half of 2016, BYD reported 2.3 billion yuan in profit, a 384 percent increase…

Read the original post:
China’s BYD forecasts up to 91 percent profit rise for first nine months

european-union

Germany’s economy minister: U.S.-EU free trade talks have failed

Germany's Economy Minister Sigmar Gabriel said on Sunday that talks on the Transatlantic Trade and Investment Partnership (TTIP), a free trade deal being negotiated by the United States and the European Union, had essentially failed. “Things are not moving on that front,” said Gabriel, who is also Germany's vice chancellor. The U.S.

View original post here:
Germany’s economy minister: U.S.-EU free trade talks have failed

european-union

Exclusive: Japan government to cut inflation forecasts, gloomier on outlook than BOJ

Japan's government is expected to cut its consumer inflation forecast for the current fiscal year and produce an estimate for fiscal 2017 that is much lower than the central bank's 2 percent target, government sources told Reuters on Tuesday. In draft forecasts to be finalised on Wednesday, the…

Go here to see the original:
Exclusive: Japan government to cut inflation forecasts, gloomier on outlook than BOJ

european-union

Global shares gain as Brexit tensions ease amid stimulus hopes

Europe's STOXX 600 rose 0.5 percent, helped by gains in Daimler and Unicredit , while sterling jumped 1.1 percent against the dollar, pulling further from a 31-year low hit last week. In Britain, interior minister Theresa May was set to become prime minister on Wednesday, offering some relief from the political uncertainty that has dogged the market since the country voted to leave the European Union last month. “U.S. real interest rates are now negative.

Originally posted here: 
Global shares gain as Brexit tensions ease amid stimulus hopes

« Previous Page — Next Page »