Economic & Financial

Finland faces population decline by 2031

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Finland faces a decline in its population by 2031, according to the Statistics Finland latest projection published on Monday. The national statistical service projection suggests that if the birth rate remains at the current level...

Libra not likely to launch by 2020

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The launch of the Libra cryptocurrency is postponed, the head of the 28-member Libra Association Bertrand Perez told Reuters on Friday. “We knew that we would have to answer lots of questions coming from regulators...

Bank of England poised to cut interest rates under all Brexit scenarios

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The Bank of England may need to cut interest rates irrespectively of whether a Brexit deal happens on October 31. According to the Bank of England’s Monetary Policy Committee (MPC) member, Michael Saunders, even if...

Georgieva to succeed Lagarde at the helm of the IMF

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The International Monetary Fund confirmed the Bulgarian economist Kristalina Georgieva to succeed Christine Lagarde, who is moving to become the President of the European Central Bank (ECB). Georgieva is the first person from an emerging...

ABN-AMRO embroiled in major money-laundering scandal

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The biggest bank in the Netherlands, ABN-Amro, has been embroiled in a money-laundering investigation. The banks valuation sank by 9% on Thursday, Reuters reports. The bank was notified of the investigation on Wednesday but was...

EU watchdog warns real estate market overheats in 11 member states

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The European Systemic Risk Board (ESRB) warned on Monday that eleven real estate markets are overheating. The EU’s financial stability watchdog warned that the housing market in Belgium, France Germany, the Czech Republic, Denmark, Luxembourg,...

Regulators take hard line against Facebook’s Libra

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Facebook faced the grilling of 26 central bank representatives over its Libra currency plan on Monday; Libra is a virtual currency considered a threat to monetary sovereignty. Facebook executives representing were questioned by the Bank...

Hong Kong bids for London Stock Exchange

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The Hong Kong's stock exchange made a €35.43bn ($39bn) offer for the acquisition of the London Stock Exchange on Wednesday. The offer is below the current valuation of the LSE. A statement issued by the parent...

Poverty level drops to 18-year low in US

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The US poverty rate is at the lowest it has been since 2001 and middle-class income has hit a historical high, the Census Bureau reported. In 2018, 11.8% of Americans lived under the poverty line...

The Swiss expect ‘no deal’ with the EU before 2020

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Switzerland is unlikely to sign its own trade agreement with the EU prior to Brexit, according to Economy Minister Guy Parmelin. In a statement to Sonntags Zeitung, Parmelin expressed pessimism as social partners – unions,...

The politics of AI in the financial markets

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Technology is and has always been a crucial part of finance. From the first promissory notes in the Netherlands and China, there was a race with counterfeiters that parasitically undermined trust. As in any political...

German economy contracts by 0.1% in second quarter

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The German economy - the fourth-largest in the world after the US, China, and Japan - received troubling news when the country's the Federal Institute of Statistics reported that the economy contracted by 0.1%...

Johnson gets two “neighs” and one “maybe” on the Irish backstop

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In the countdown to the G7 Summit in Biarritz, France, the British prime minister was holding consultations with Germany, France, and Ireland in his effort to rid the UK from the so-called “Irish backstop”...

North Korea money laundering in Russia puts European banks at risk

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Elvira Nabiullina, the governor of the Russian Central Bank, has reportedly been reforming the bank sector and cracking down on financial institutions engaged in illicit behaviour. “Nabiullina's has made some impressive achievements in cleaning up...

Say “No” to a technocratic government

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The EU’s economy has essentially been flat over the past year. The slump in manufacturing is deepening. Companies are cutting work hours and issuing profit warnings. The dominant mood in the European and international...

Bundesbank warns of technical recession in Germany

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Germany's Bundesbank joined members of the government, think tanks, and business analysts to warn that Europe's largest economy may be headed towards a recession after suffering through a period of negative growth throughout the...

Markets expect new government rather than snap elections in Italy

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Italian President Sergio Mattarella is beginning a two-day round of consultations with parties on Wednesday to explore whether it is possible to form a government. Giuseppe Conte resigned on Tuesday, ending a 14-month coalition government...

Italian PM Conte resigns

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After weeks of coalition turmoil between the increasingly popular Lega party and their governing partners, the 5-Star Movement, Italy's Prime Minister Giuseppe Conte announced his resignation on Tuesday afternoon saying, 'this government ends here". Conte's...

Swiss justice charges tax avoidance whistle-blower with industrial espionage

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A whistle-blower responsible for uncovering one of the biggest cases of tax avoidance in Germany is now prosecuted by Swiss authorities for industrial espionage, the daily financial newspaper Handelsblatt reported on Monday. Echart Seith is...

What can be done to save Hong Kong?

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It is becoming increasingly clear, as the Hong Kong protests continue, that the Chinese Communist Party will be forced to make a choice - either a bloody, military crackdown (the more likely of the...

Markets signal global recession

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Markets in Europe fell on Thursday, following a sell-off in Asian and US stock exchanges on Wednesday. The market downturn was triggered by negative growth data in the UK and Germany, culminating with Chinese...

Germany forced to rethink export-led growth model

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Germany’s export-led economic model is called into question, forcing the government to rethink its fiscal policy. Slumping exports have brought Germany on the brink of recession, according to data released on Wednesday. The overall output...

UK economy shrinks in second quarter, first since 2012 and ahead of Brexit deadline

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The UK's economy shrank for the first time since 2012 in the second quarter according to fiscal data made available by Britain’s Office for National Statistics. With Boris Johnson’s British government committed to exit...

Bosnia’s authorities draw cautious praise from Brussels after agreeing to form Council of Ministers

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Nearly 10 months after Bosnia and Herzegovina's last round of elections, the leaders of country's three main ethnoreligious groups finally reached an agreement to form a central government on 4 August, news that the...

China’s Yuan plunge worries global markets

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European shares fell to two-month lows on Monday amid U.S.-China trade frictions and worries that drove the bloc’s investors shifting towards government bonds and other traditional market products. Following growing economic tensions between the USA...

China’s currency falls as more US sanctions look likely

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The exchange rate of China's yuan to the dollar hit the symbolic threshold of 7 to 1 at the start of the week, fuelling further speculation about a deliberate move by Beijing to boost...

World Bank CEO Georgieva picked as Europe’s nominee to lead IMF

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After tapping IMF chief Christine Lagarde to head the European Central Bank, the EU has put forward another powerful woman's name to take the reigns at the International Monetary Fund with the official nomination...

Eurozone members’ economic sentiment declined in July

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The European Commission’s monthly sentiment survey showed the overall index for the 19 member states of the Eurozone at 102.7 points in July, down from 103.3 in June and 105.2 in May. The summer’s expected...

Ze’s perfect storm

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Volodymyr Zelensky, or “Ze”, as he is called by his supporters, started his entry into the Ukrainian politics earlier this year by impressively winning the presidential election in April. On July 21, the former...

IMF lowers global growth projections amid Sino-American trade war

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The International Monetary Fund downgraded its growth projection for 2019 amidst a Sino-American trade war and the increasing likelihood of a no-deal Brexit. The Washington-based institution now projects 3,2% global growth rather than 3,3% projected...

USD rallies as House agrees to raise debt ceiling

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The dollar rallied against all major reserve currencies to a five-week high on Tuesday as the House reached a two-year deal to lift the debt borrowing ceiling. The news of a political deal on the...

Johnson faces cabinet walk outs and Irish border controls

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In anticipation of Boris Johnson succeeding Theresa May by Monday evening, two cabinet ministers have pre-announced their resignation; meanwhile, the Irish Republic prepares to install border checks as the likelihood of no-deal Brexit increases. British cabinet...

ECB to launch second bond-buying program in November

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The European Central Bank (ECB) will relaunch a bond-buying programme in November 2019. While the ECB ended its bond-buying programme in December 2018, maturities from its sovereign debt portfolio is reinvested in sovereign bonds, maintaining...

Hezbollah is a terrorist organisation and a threat to Europe

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If Europe is serious about combating antisemitism, the Lebanon-based global terror group Hezbollah must be stopped in its tracks. As we marked on 18 July the seventh anniversary of the suicide bombing in Burgas,...

Germany, Italy, and France take a stand against Facebook’s Libra

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The G7 finance ministers gathered in Chantilly, France, on Wednesday, presenting a united opposition to Facebook’s plan to launch Libra, a digital currency.  “There’s widespread concern,” admitted Italy’s Giovanni Tria, warning that legislation to hinder...

Pound continues to slide as no-deal becomes more likely

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The pound has continued to slide reaching a two-year low on Wednesday, as investors now assess there is an increased likelihood of the UK crashing out of the European Union without a transition agreement...

Washington to ease restrictions on Huawei’s US suppliers

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The U.S. is ready to ease restriction on Huawei, allowing US suppliers to continue trading with the Chinese company, Reuters reported on Monday. Since May, US authorities have barred Huawei from the US market, a...