Money

UK plans to give Northern Ireland joint UK, EU status

UK plans to give Northern Ireland joint UK, EU status Responding to the reported civil service warnings about a no-deal Brexit , Home Secretary Sajid Javid told the BBC's Andrew Marr Show: "I'm very confident we'll get a deal, but it's right we look at no deal and all these different scenarios". [Full Article...]

Youth Unemployment Rate Near 20%

Youth Unemployment Rate Near 20% Many economists predict the unemployment rate will fall even further this year, potentially dropping to 3.5 percent, which would be the lowest rate since 1969. The annual pace of wage growth in April was just 2.6 percent, a sluggish rate that is barely above inflation. But the unrounded figure is 3.75 per cent, the lowest since December 1969, when it was 3.5 per cent. [Full Article...]

Merkel's plans for the European Union: joint military force, common migrant asylum standards

Merkel's plans for the European Union: joint military force, common migrant asylum standards President Donald Trump. "We should show respect towards Italy", Juncker told German newspapers over the weekend, as the new Italian government assumed power, adding that he does not want to see a repeat of the situation with Greece. Merkel's proposals appeared to be somewhat more cautious, but with many points of agreement with her closest European ally. "For a successful economy we have t... [Full Article...]

Visa says disruption caused by hardware problem, not attack

Visa says disruption caused by hardware problem, not attack The company also issued an apology for any inconvenience caused, and stated that they are now working with Visa in order to address the problem. Visa announced that its s payment system is operating normally again after a hardware failure affected customers in several European countries. [Full Article...]

Google to scrub US military deal protested by employees

Google to scrub US military deal protested by employees Google plans to honor what is left of its subcontract on Project Maven , the person said . Project Maven has been a source of tension within Google. About 4,000 Google staff members signed a letter to CEO Sundar Pichai urging the company to end the contract with the Department of Defense, while about a dozen employees resigned in protest , according to Gizmodo . [Full Article...]

Trump under fire for tweet about jobs report

Trump under fire for tweet about jobs report But it gave investors who were paying attention to Twitter on Friday morning - or who got alerts about Trump's tweet - a signal that the report was going to be good and a head start on making decisions about stocks and other investments that would be affected by strong numbers. [Full Article...]

Fed calls Deutsche Bank's American business 'troubled'

Fed calls Deutsche Bank's American business 'troubled' Christian Sewing acknowledged in a message Friday to staff that "many of you are sick and exhausted of bad news" but assured them that the bank has solid capital buffers. Deutsche Bank declined to comment to CNNMoney about "specific regulatory feedback". But he candidly admitted that the newsflow around the bank was "not good". [Full Article...]

China A-shares make their debut in MSCI indices

China A-shares make their debut in MSCI indices There are several A-shares ETFs trading in the USA, but KBA was the first to track an index sponsored by MSCI. China's benchmark Shanghai Composite Index was down 0.5% by midday, following a 1.8% gain the previous day, while Hong Kong's Hang Seng Index was largely flat after Thursday's 1.4% jump. [Full Article...]

Commodities: WTI drops amid rising U.S. dollar, American crude exports

Commodities: WTI drops amid rising U.S. dollar, American crude exports US Crude Oil inventories fell by 3.6-M bbls in the week ended 25 May, said, exceeding expectations for a decline of 525,000 bbl. "One can be long or short on either of the benchmark and be stopped-out by the volatility of the Brent-WTI". WTI's discount to Brent widened to as much as $11.57 a barrel, largest since 2015, before narrowing to $10.76 a barrel as both grades retreated. North Sea Br... [Full Article...]

Asia of cooperation will shape century: PM Modi at Shangri-La Dialogue

Asia of cooperation will shape century: PM Modi at Shangri-La Dialogue Earlier this week, Malaysia's Prime Minister Dr Mahathir Mohamad said the project would be cancelled, subject to discussions with Singapore because of the huge financial implications of the project costs , and that Malaysia would have to compensate the republic up to RM500 million for aborting the project. [Full Article...]

Vermont will pay people $10000 to move there and work remotely

Vermont will pay people $10000 to move there and work remotely The bill, which is scheduled to take effect on January 1, 2019, has budgeted grants for almost 100 new remote workers in the first three years of the program , and 20 more workers per year for every year afterward. In March, Governor Scott and the Vermont Department of Tourism and Marketing announced the so-called Stay-to-Stay initiative, which is meant to help tourists relocate to the state. [Full Article...]

Euroskeptics cheer as Italian populists take power

Euroskeptics cheer as Italian populists take power Italian media reported that the line-up will face a vote of confidence on Monday or Tuesday in both houses of parliament, which it is nearly certain to win thanks to the populists' combined majority. His cabinet line-up would directly involve M5S leader Luigi Di Maio and League leader Matteo Salvini both in the role of vice prime ministers. Salvini has campaigned on the promise of mass deportation... [Full Article...]

Sears Prepares for More Store Closings as Revenue Slumps

Sears Prepares for More Store Closings as Revenue Slumps Besides Peabody, the only other MA store in the announcement was a Sears in Springfield. The Illinois-based retailer had previously announced that 166 stores would close this year. Sears Holdings Corporation is set to close another 72 stores as the company attempts to stave off plummeting sales. Sears said sales dropped 30 percent in the most recent quarter, leading to a loss of $424 mill... [Full Article...]

‘Don’t be evil’ prevails as Google not renewing controversial military AI project

Wow. Kudos to all the Google employees who forced the company's hand on this. Google decided not to renew a controversial AI contract with the Pentagon after receiving backlash from its employees, reports say. "We believe that Google should not be in the business of war", the letter stated . More than 700 Google employees had joined an online group inside the company called Maven Conscien... [Full Article...]

Italy bond selloff sends euro to 6-1/2 month lows

Italy bond selloff sends euro to 6-1/2 month lows China's official factory gauge rose more than estimated in May while services also improved, signaling that the expansion remains robust even as debt curbs and trade tensions with the US cloud the outlook. The single currency hit a nine-month low of 1.1367 against the franc and a 10-month low of 124.61 yen. Such worries have resulted in a big sell-off of Italian debt and a surge in safe-h... [Full Article...]

Trump Suggests Separate Deals With Canada, Mexico To Replace NAFTA

Trump Suggests Separate Deals With Canada, Mexico To Replace NAFTA NAFTA came into full force in 1994, and the latest discussions with the United States administration are the largest proposed renegotiations in the continental free trade agreement's history. products, including Kentucky bourbon, blue jeans and motorcycles . David O'Sullivan, the EU's ambassador in Washington , said the retaliation will probably be announced in late June. [Full Article...]

Risks Might Overshadow Sunny Outlook for World Economy

Risks Might Overshadow Sunny Outlook for World Economy Political uncertainty in Italy as it struggles to form a government sent renewed shock waves through the Eurozone, a bloc that is already dealing with Britain's exit from the European Union and a global economy which is threatened by a trade war. [Full Article...]

Spanish Socialist Sanchez succeeds Rajoy as prime minister

Spanish Socialist Sanchez succeeds Rajoy as prime minister Socialist leader Pedro Sánchez needs a majority of 176 votes to become leader. Barring any last-minute U-turn, an absolute majority of lawmakers, among them Catalan separatists and Basque nationalists , will vote through a no-confidence motion filed last week by the Socialists following a corruption scandal involving the PP. [Full Article...]

New Deutsche Bank boss Sewing is 'sick and exhausted of bad news'

The reductions may include one-fifth of the US staff, people familiar with the matter said on May 9. "Many of you are sick and exhausted of bad news". The Journal cited sources that said a subsidiary of the bank, Deutsche Bank Trust Company Americas, was given a "problem bank" rating by the Federal Deposit Insurance Corporation, the government body that provides it with insurance. [Full Article...]

And the kitchen sink - EU to hit back at U.S. tariffs

And the kitchen sink - EU to hit back at U.S. tariffs Commission President Jean-Claude Juncker said the bloc had been left with "no choice" but to impose its own duties on USA products after being targeted. economy. The country reacted quickly after Washington said in the morning it was moving ahead with tariffs on aluminum and steel imports from Canada, Mexico and the European Union . [Full Article...]


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