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By Matthias Blamont and Simon Carraud | PARIS PARIS French far-right presidential hopeful Marine Le Pen on Saturday chose defeated first-round candidate Nicolas Dupont-Aignan as her prime minister, a bid to attract his voters and help her to victory over centrist favourite Emmanuel Macron. Dupont-Aignan is a nationalist whose protectionist economic policies are close to those of the National Front’s Le Pen and who, like her, wants […]

BERLIN Online fashion retailer Zalando (ZALG.DE) is pondering opening stores in major cities such as London, Paris or Berlin, the company’s co-chief executive told Germany’s Manager Magazin. “We have proper fans in the metropolises who spend much time with us and order a lot,” co-Chief Executive Rubin Ritter said in an interview published on Saturday. “It could be interesting for them to also experience the brand offline,” […]

Say you’re a gaming company that released a brand-new console, a throwback to one of your old hits. Suppose it became an instant rousing hit to the point where a lot of people went out of their way to snag one from any store that had it. This is great, right? People actually want your product, a demand which you had not expected from the get-go. What […]

President Donald Trump’s populist views, reality television stardom, and penchant for Twitter insults all but guaranteed an out-of-the-ordinary first 100 days for the billionaire political neophyte. A look at the data reveals how Mr Trump compares with previous Oval Office occupants. Bills signed into law Enacted legislation for last seven presidents in first 100 days Source: govtrack.us The White House touts that Mr Trump has accomplished more […]

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 […]

Donald Trump plans to end or renegotiate any trade deal that does not increase US economic growth, reduce the US trade deficit or contribute to higher US wages, according to a leaked draft of an executive order obtained by the Financial Times. The draft of the order Mr Trump had been planning to sign on Saturday before his high-profile U-turn this week calls for US officials to […]

Ras Al Khaimah has reaffirmed its position as the region’s fastest growing tourism destination for international travellers following increased year-on-year visitor numbers during the first quarter of 2017.  New figures reported by Ras Al Khaimah Tourism Development Authority (RAKTDA) revealed that overall visitor arrivals to the emirate in Q1 grew by 8.3 percent year-on-year. With domestic tourism still the single largest contributor to Ras Al Khaimah’s tourism […]

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When the Nasdaq Composite index first spent two days above the 5,000 mark, it signalled the last gasp of a spectacular bull market. Confidence in internet companies’ power to change the world and mint fortunes was about to collapse. Seventeen years later the market has hit a milestone of 6,000, part of a run of record highs for global equity markets. While stocks have again been rising […]

By Alastair Macdonald | BRUSSELS BRUSSELS European Union leaders will endorse a stiff set of divorce terms for Britain at a summit on Saturday, rejoicing in a rare show of unity in adversity, but well aware that may start to fray once negotiations begin. Meeting for the first time since British Prime Minister Theresa May formally triggered a two-year countdown to Brexit in late March, the 27 […]

North Korea tested a ballistic missile on Saturday morning local time, in a provocative move that came just hours after Rex Tillerson, US secretary of state, called on UN member states to impose “painful” sanctions on the regime in Pyongyang. US Pacific Command, which oversees US forces in Asia, said North Korea launched a missile at 5.03am local time on Saturday from a location near Pukchang airfield, […]

Nobody should ever attempt to judge an investment over a period of just 100 days. It is far too short a time to assess the quality of performance and far too prone to random effects. And in any case, most of us need results over very much more than 100 days. It is therefore a little random to be judging the Trump presidency’s impact on investors after […]

NEW YORK Stocks edged lower on Wall Street on Friday after data showing the U.S. economy grew at its weakest pace in three years in the first quarter gave traders a reason to cash in recent gains. The Dow Jones Industrial Average .DJI fell 40.82 points, or 0.19 percent, to 20,940.51, the S&P 500 .SPX lost 4.58 points, or 0.19 percent, to 2,384.19 and the Nasdaq Composite […]

By Alastair Macdonald | BRUSSELS BRUSSELS European Union leaders at a Brexit summit on Saturday will give a formal undertaking to embrace the British province of Northern Ireland in the EU if a referendum unites the island, diplomats said on Friday. Irish Prime Minister Enda Kenny has asked fellow members of the bloc to acknowledge that Northern Ireland would, like East Germany in 1990, automatically enter the […]

Our round-up of the best comment and analysis from the Financial Times during the week focuses on US corporate earnings, eurozone interest rates and the future of US economic reforms. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The FT’s John Authers says US corporate earnings have reached a turning point — the earnings recession that […]

The US economy expanded at its weakest pace in three years during the opening months of the year, underlining the daunting task facing Donald Trump’s administration as it seeks to attain ambitious growth targets.  Gross domestic product grew at a 0.7 per cent annual rate in the first three months of 2017, according to the Bureau of Economic Analysis, a sharp drop from 2.1 per cent at […]

KUALA LUMPUR: The Ministry of Education is open to receiving feedback from the public on caning of students in school, said Deputy Education Minister Datuk Chong Sin Woon. “At this moment we would not consider to abolish corporal punishment, but we are always open for opinions. If the public think we have to stop it totally, we have to discuss (it first),” he said. He was commenting […]

By Lucia Mutikani | WASHINGTON WASHINGTON The U.S. economy likely hit a soft patch in the first quarter as an unseasonably warm winter and rising inflation weighed on consumer spending, in a potential setback to President Donald Trump’s promise to boost growth. Reduced business investment in inventories and government spending cuts also crimped gross domestic product growth. A Reuters survey of economists conducted last week forecast GDP […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. When Barack Obama was vacationing recently with Bruce Springsteen, Tom Hanks and Oprah Winfrey aboard a $300 million yacht in Tahiti, one wonders if he ever hummed Springsteen’s “All Or Nothin’ At All.” At the moment, it seems like he […]

GENEVA El Nino weather conditions associated with droughts and flooding have a 50-60 percent probability of returning this year, the U.N. World Meteorological Organization (WMO) said on Friday, revising its view from two months ago. “Sea surface temperatures in the far eastern tropical Pacific Ocean increased to 2.0° Celsius or more above average during February and March, creating very heavy rainfall and a trade wind collapse from […]

Emerging market equities have been the darling asset class de jour in 2017, mainly in Asia and Latin America, despite the March FOMC rate hike, a US Dollar Index at or above 100 and a mini-swoon in crude oil after a Saudi-Russian output cut spat. Earnings growth (India/Thailand) a stabilized currency (China), policy reforms (India, Brazil, Indonesia) local interest rate cuts (Brazil) and lower US protectionist policies […]

File Photo The head of Uber’s self-driving car project is stepping away from the leadership role as a lawsuit embroiling Uber and his former employer Waymo relating to the theft of trade secrets continues. Anthony Levandowski is a talented engineer who is believed to have been a key player in former Google unit Waymo’s success in developing the technology. While working in Google’s Street View maps unit […]

Short-term borrowing costs in China have climbed to their highest level in two years as comments from President Xi Jinping fan investor expectations that a “regulatory windstorm” is part of a broader crackdown on the financial sector. China’s premier on Thursday described finance as the “core of a modern economy”, according to state news agency Xinhua, adding that “accurate judgment of potential financial risks serves as a […]

WASHINGTON U.S. President Donald Trump told Reuters on Thursday he will either renegotiate or terminate what he called a “horrible” free trade deal with South Korea and said Seoul should pay for a U.S. anti-missile system that he priced at $1 billion. In an interview with Reuters, Trump called the five-year-old trade pact with South Korea “unacceptable” and said it would be targeted for renegotiation after his […]

By Karen Lema and Neil Jerome Morales | MANILA MANILA Malaysian Prime Minister Najib Razak on Friday warned that Southeast Asian countries needed to ensure their economic growth was inclusive, or risk marginalized populations turning to violent extremism or even overturning political systems. Speaking at an event for entrepreneurs during the Association of South East Asian Nations (ASEAN) summit in Manila, Najib said the region was posting […]

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