Donald Trump has threatened to overturn two decades of US economic policy by questioning the strong value of the dollar, raising fears that his presidency could set off a new round of currency wars between the world’s major economies. On Monday the president-elect appeared to break from the longstanding “strong dollar” policy of successive administrations, declaring that the currency was too high and that this was preventing […]
Before she spoke on Tuesday, Theresa May was gaining a reputation for talking sterling lower by spooking investors that Britain was headed to a disorganised exit from both the EU and its common market. Her Lancaster House speech was the first occasion the pound rallied to her Brexit views since becoming prime minister; it had risen nearly 3 per cent by the end of the London trading […]
It’s impossible for one person to see everything on display at CES each year. I had three staffers helping me cover the show, and PCMag had a dozen people on the ground in Las Vegas for its coverage. Being at CES provides valuable hands-on time with gadgets on the floor and in closed-door briefings. Based on what I saw, it’s clear that some amazing new […]
By Elisabeth O’Leary | EDINBURGH EDINBURGH The British government’s plan for leaving the European Union is “economically catastrophic” and Scotland must have the option of voting for independence if its views on Brexit are rejected, Scottish First Minister Nicola Sturgeon said on Tuesday. Sturgeon, who leads the pro-independence devolved government, was speaking after British Prime Minister Theresa May signalled Britain would quit the European Union single market […]
A senior member of Donald Trump’s team insisted that the president-elect was committed to globalisation, open trade and Nato despite recent comments that unsettled America’s allies. Anthony Scaramucci, Mr Trump’s newly appointed public liaison official, told the World Economic Forum in Davos on Tuesday that the European and American elite had misunderstood Mr Trump and would change their views when he took office. In particular, he argued […]
Theresa May’s first big speech on Brexit since she became prime minister removed some of the political uncertainty that has dogged the pound. However, the messiness of the politics of Britain’s exit from the EU still tops the lost of reasons why sterling will remain under pressure. A list of the pound’s pros and cons quickly shows why it is languishing at levels last seen in the […]
January 17, 2017 by: Henry Mance, Political correspondent Theresa May has promised a clean break with the EU, saying that Britain would not “seek to hold on to bits of membership as we leave”. In a much anticipated speech outlining her Brexit objectives, the prime minister said that Britain would seek “a new and equal partnership” with the other 27 countries in the EU — not “anything […]
By Kylie MacLellan and William James | LONDON LONDON Britain will not seek a Brexit deal that leaves it “half in, half out” of the EU, Prime Minister Theresa May will say on Tuesday in a speech setting out her priorities for divorce talks which indicates she is prepared to leave the single market. Sterling, which has traded at the lowest levels against the U.S. dollar for […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices, were at $55.55 per barrel at 0643 GMT, down 31 cents from […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland Chinese President Xi Jinping will defend globalisation in the face of mounting public hostility in the West on Tuesday in a speech at the World Economic Forum that will underline Beijing’s growing global role. Xi’s appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, comes as the part the […]
Theresa May will test the nerves of currency markets on Tuesday when she declares that Britain is making a clean break from the EU and will not seek a deal that leaves the country “half in and half out”. Mrs May’s comments will be seen as confirmation that Britain is leaving the single market — sometimes referred to as “a hard Brexit” — although she will leave […]
Tuesday 02.00 GMT Overview Stocks were putting in a mixed performance in Asia, while currencies fluctuated as markets braced for the impact of a speech by UK Prime Minister Theresa May laying out her administration’s Brexit blueprint. Hot topic The Japanese yen rallied as some traders initially sought havens, strengthening as much as 0.3 per cent before swinging back to be 0.1 per cent weaker at ¥114.26 […]
By Kylie MacLellan | LONDON LONDON Britain will not seek a Brexit deal that leaves it “half in, half out” of the European Union, Prime Minister Theresa May will say on Tuesday, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc. Those priorities will include leaving the European Union’s single market and regaining full control of Britain’s […]
CARACAS OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months. The head of the Organization of the Petroleum Exporting Countries was back in Caracas for a second meeting in two months with President Nicolas Maduro whom he lavishly praised for an “inspirational” role […]
Asset price movements in the past few weeks have pointed both to the upside and a major risk for the global economy and markets under a Trump administration. Enthusiasm over higher US growth powering the global economy has been tempered at times by worries that certain elements of the president-elect’s “America First” approach could undermine longstanding trading relationships, opening up the risk of economic and financial disruptions. […]
By Fatos Bytyci | PRISTINA PRISTINA Serbia plans to seize a slice of northern Kosovo just as Russia annexed Ukraine’s Crimea region in 2014, Kosovo’s president told Reuters on Monday, as the two Balkan neighbours trade accusations of wanting to ignite a new regional war. Kosovo special police units on Saturday prevented a train painted in Serbia’s national colours and bearing the words “Kosovo is Serbia” from […]
Ministers are drawing up plans for a two-tier system of UK border controls for EU citizens as Theresa May prepares to tighten migration rules at the expense of single market membership. Senior government officials expect the prime minister to decide on a system based on work permits and new automated security checks — similar to the US visa-waiver programme — for EU citizens travelling to Britain. The […]
“Dedication, that’s what you need, if you want to be a record breaker,” sang the TV entertainer Roy Castle on the long-running BBC programme dedicated to notable feats. London’s FTSE 100 has been on a dedicated record-breaking run all of its own, notching up an unprecedented 14 consecutive sessions of gains by the end of last week, a run which only ended on Monday, when the index […]
Ken Miller Crunch Network Contributor Ken Miller is an investor, writer, and advisor to several technology companies and Venture Capital firms. Previously he was an Executive at PayPal and Intuit, and early Advisor to Square. More posts by this contributor: How to join the network Pundits and Monday morning quarterbacks have spent much of the last two months lost in a fog of speculation and assertions as […]
By Nigel Stephenson | LONDON LONDON Investors sold sterling and stocks on Monday, seeking shelter in gold and the Japanese yen as uncertainty over Britain’s departure from the European Union and the policies of U.S. President-elect Donald Trump curbed appetite for risky assets. U.S. markets were closed for the Martin Luther King Day holiday, crimping market activity and potentially exacerbating price moves. The dollar .DXY rose, except […]
He was the president who took out Osama bin Laden but was blindsided by Isis; who made Asia his priority but saw his trade deal for the region stymied; who built bridges with once sworn enemies in Cuba and Iran but who sparred with allies in Israel and Saudi Arabia. The mixed and sometimes messy foreign policy legacy of Barack Obama includes a climate change agreement and […]
Traders are anticipating big swings in the pound, ratcheting up the cost of hedging against sterling volatility in preparation for fast-moving developments in the UK’s ever-more fractious relationship with the EU. Theresa May’s Brexit speech that she will deliver on Tuesday has already caused big shifts in the pound, following weekend media reports about its likely content. However, traders are now weighing up the impact of Donald […]
Workers likely to be impacted first by automation include those in manufacturing and retail trade. Image: Getty Images/iStockphoto Today’s technology could be used to automate half of all work activities by 2055 but it could end up taking far longer than that, according to a report from McKinsey Global Institute. It’s likely that one day your skills could be made obsolete by technology aided by advances in […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos. As political leaders, businessmen and bankers converge on the resort in the Swiss Alps this week, they can draw hope from a more benign […]
