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Mexico is urging Donald Trump to reuse agreements reached under the aborted Trans-Pacific Partnership to create a manufacturing powerhouse between the US, Mexico and Canada to compete with low-cost producers in China. Ildefonso Guajardo, Mexico’s economy minister, said in an interview with the Financial Times that elements of TPP could be used to renegotiate the North American Free Trade Agreement between the three countries. His comments came […]

The Trump administration’s interest in issuing the US government’s first “ultra-long” bonds, following in the footsteps of countries such as the UK, Mexico and Belgium, is facing scepticism from fund managers, analysts and former officials. The US Treasury in April asked its “primary dealers”, the club of banks that underwrite and arrange the government’s debt sales, to explore whether there would be demand for Treasuries that mature […]

The Trump administration has opened the door to huge potential savings for hedge fund and private equity managers by proposing to slash tax rates for small businesses in a way that could be exploited by Wall Street financiers. Hedge fund and private equity managers are a subgroup that could emerge with some of the biggest gains from the President Donald Trump’s tax plan, which was scorned by […]

Many discussions of digital transformation focus on marketing metrics such as page views, clicks, and even mentions in the press. Although marketing is important, this limited and unsophisticated view ignores underlying issues such as improving business speed, agility, and responsiveness to customers. Only by rethinking business models can we meaningfully gain benefit from digital transformation in departments across the company including operations, supply chain, manufacturing, and customer […]

Hedge funds have slashed their bets against the British pound to the lowest level since the Brexit vote in June last year, after the currency enjoyed its best month against the dollar in two years. The pared-back “short” bets, which would profit on a drop in the pound, followed Theresa May’s decision to call snap elections in June, a move that investors said would allow the ruling […]

Chinese insurance group Anbang has threatened legal action against a leading investigative magazine over what it called “slanderous” allegations about financial irregularities and the marital status of its chairman, in the latest sign of the intensifying power struggle in the financial sector.  Anbang, which has curbed its long acquisition spree amid heightened capital controls, said in a statement on Sunday that Caixin had “forged rumours” that chairman Wu […]

(Image: Hawking.org) It’s a pet obsession that both physicist Stephen Hawking and entrepreneur Elon Musk — two people credited with pushing the boundaries of technology and science in pioneering ways — have in common: Rampaging intelligence, borne within machines, could end the human race if utilized dangerously. “I believe there is no real difference between what can be achieved by a biological brain and what can be […]

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April 30, 2017 by: Roger Blitz and Michael Mackenzie Here are the key questions facing investors as the first week of May begins. How much higher can the euro go?Emmanuel Macron had an uncomfortable encounter with workers in his hometown of Amiens as he tried to shore up his position as frontrunner in the presidential election run-off with the National Front’s Marine Le Pen. However, financial markets […]

Even before the first details of Nintendo’s Switch games console were unveiled to the world in early January, the industry knew it would be a cross between a home console and a handheld gaming machine and could sense an all-in bet coming. On Friday, behind the hoopla of the company’s latest game launch, analysts spotted the same tell: a giveaway sign of a company that desperately wants […]

European leaders have pledged to seamlessly readmit Northern Ireland into EU in the event of a vote for Irish reunification some time after Britain leaves the bloc. The promise would allow the region to follow the example of German reunification in line with the terms of the Good Friday Agreement, which ended decades of sectarian violence in Northern Ireland. The pact allows a referendum on reunited Ireland […]

April 29, 2017 by: Rochelle Toplensky in Brussels Hungarian prime minister Viktor Orban left Brussels on a defiant note on Saturday, in spite of promising European colleagues he would “behave” and settle a stand-off with the European Commission. Mr Orban came under heavy pressure from leaders of his centre-right EU group amid growing impatience and concern across the bloc over Budapest undermining independent universities and mounting a […]

Fox News is “state-run TV” and MSNBC has become “the opposition” in primetime and in the mornings, CNN Worldwide President Jeff Zucker said in an interview, adding that he thinks CNN is “seeking the truth.” Zucker, speaking in an interview with New Yorker Editor David Remnick for the magazine’s podcast on Friday, added that there are “clear agendas” at play at both of CNN’s rival networks. “So […]

By Neil Jerome Morales | MANILA MANILA Philippine President Rodrigo Duterte on Saturday urged the United States to show restraint after North Korea’s latest missile test and to avoid playing into the hands of leader Kim Jong Un, who “wants to end the world”. The notoriously blunt Duterte said the Southeast Asia region was extremely worried about tensions between the United States and North Korea, and said […]

Marine Le Pen has agreed to team up with an anti-EU candidate who came sixth in the first round of France’s presidential election as she seeks to win votes from the centre-right in the run-off next weekend. On Saturday Ms Le Pen announced that she would name Nicolas Dupont-Aignan, an anti-EU Gaullist and founder of the nationalist party Debout la France (Arise France), as prime minister in […]

PARIS President Francois Hollande urged the French on Saturday to choose centrist Emmanuel Macron over far-right opponent Marine Le Pen in the second round of the presidential election, telling voters it was their duty to Europe as well as France. Hollande had previously said he would vote for his former economy minister but had not given voting instructions. Polls show Macron winning on May 7 with about […]

Airline stocks were grounded on Thursday after American Airlines unexpectedly offered to raise wages for its crew members, exacerbating investor concerns over industry costs. American Airlines fell the most in 10 months, dropping 8.6 per cent to a two-week low of $42.41, after the company proposed giving its pilots and flight attendants an average pay bump of 8 per cent and 5 per cent, respectively. The pay […]

(Image: Genesis Robotics) Despite major advancements in robotics and the huge potential it has to make our lives easier, robots are still mostly stuck in industrial settings. We have seen a few robots enter homes, healthcare, and other work settings, but for the most part, they are still a novelty. In order for robots to become as ubiquitous as the other technology that consumers have recently embraced, […]

BRUSSELS European Union leaders promised on Saturday to embrace the British province of Northern Ireland into the EU if a referendum in the future were to unite it with the Republic of Ireland. At a summit on the EU’s plan for negotiating with Britain as it leaves the bloc, Irish Prime Minister Enda Kenny asked fellow members to acknowledge that Northern Ireland would, like East Germany in […]

European leaders are warning Theresa May over her “completely unreal” expectations of a swift trade deal, as they gathered in Brussels to agree a tough opening stance on Brexit talks.  Jean-Claude Juncker, the European Commission president, briefed an EU summit on Saturday on a recent dinner where the British prime minister said any Brexit exit payment would only pass before 2019 if accompanied by a full trade […]

When it comes to repackaging bad loans in the eurozone, 2017 has been a tale of two peripheries. While global investors who had been hoping to buy debt backed by Italy’s non-performing loans have been left disappointed, in Ireland deals are gathering momentum. Lone Star this week priced its latest securitisation of Irish mortgages, with the US private equity firm selling €420m of bonds backed by distressed […]

BRUSSELS The European Union will only be able to conclude talks on Britain’s exit if it stays united, which means the bloc’s unity is in Britain’s interest, the chairman of EU summits Donald Tusk said on Saturday. Speaking to reporters before an EU summit to approve EU guidelines for negotiations with Britain, Tusk repeated the 27 countries remaining in the EU wanted a “close and strong future […]

Emerging from an Hermès store in Shanghai with a shiny new watch costing “tens of thousands” of renminbi, Zhao Feifei is emblematic of a younger generation of Chinese consumers driving a rebound in sales of European luxury brands. “I’m earning more than before so I’m more willing to spend,” says Ms Zhao, who works in an internet finance company. The 30-year-old is one of the many customers […]

Russia’s central bank cut its key interest rate, citing the country’s continued emergence from a two-year recession — but the move failed to stop the rouble pushing higher on Friday. The cut — by 0.5 per cent to 9.25 per cent — went further than the incremental 0.25 per cent drop the bank implemented last month, suggesting that the bank was confident of reaching its inflation targets […]

That it fell to Barcelona’s Lionel Messi to score the match-winning goal away to arch-rivals Real Madrid on Sunday was of little surprise to his legions of devotees, who already view the diminutive Argentinian as something of an immortal giant on the football field, and even to casual fans. El Clasico – the lyrical Spanish name for matches played between the two powerhouses of the country’s domestic […]

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