- By Elaine Lies TOKYO, (Reuters) - A day after Donald Trump became U.S. President and vowed to put "America First", Asian media decried his isolationist policies, fearing they will chill the global economy and sow widespread international discord. In a defiant inaugural address, Trump said U.S. workers have been devastated by an outflow of jobs overseas, one of the main themes of a divisive campaign that emphasized making America strong again. In Japan, one of Washington's oldest and staunchest A
- Citizens of China's capital Beijing are expressing doubts about President Donald Trump's ability to steer the U.S. economy and manage China-American relations. Aaron Wang, who works for a logistics company, ...
- Morgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target. Gorman will receive $22.5 million (18 million pounds) in total compensation, up from $21 million in 2015, spokesman Mark Lake said in an email. Gorman received a $5 million stock bonus for his performance in 2016, an 8 percent increase from 2015, according to a filing with the U.S. Securities and Exchange Commission.
- Greece may extend a contingency mechanism by a year until 2019 to ensure it meets fiscal targets and end a stalemate in talks with its euro zone lenders and the IMF over a bailout review, Prime Minister Alexis Tsipras said on Friday. Talks between Athens and the foreign lenders on its bailout progress have dragged on for months due to differences on labour and energy reforms as well as on fiscal targets and debt relief measures beyond 2018. Greece's EU lenders want the country to achieve and mai
- Any country leaving the euro zone would need to settle its claims or debts with the bloc's payments system before severing ties, European Central Bank President Mario Draghi said. The comment - a rare reference by Draghi to the possibility of the currency zone losing members - came in a letter to two Italian lawmakers in the European Parliament released on Friday. It coincides with a groundswell of anti-euro sentiment in Italy and other euro zone states, fuelled in part by last June's unpreceden
- Credit Agricole said on Friday it recorded a 491 million euro (426 million pound) goodwill impairment charge on its French retail unit LCL, but that would not affect its 2016 dividend. Retail banks are feeling the pinch from years of low interest rates that encourage customers to renegotiate loans, putting pressure on revenues. "The current macro-economic and financial environment in which LCL operates, and in particular the low level of interest rates and resulting massive renegotiation of mort
- Consumer goods group capitalises on demand for premium nappies
- By Trevor Hunnicutt and William James NEW YORK/LONDON (Reuters) - Former British chancellor of the exchequer George Osborne, who lost his job after Britain's vote to leave the European Union, will join BlackRock Inc as an adviser next month, the world's largest asset manager said on Friday. Osborne, 45, became the country's youngest chancellor of the exchequer in more than 100 years when he was appointed in 2010 to spearhead an austerity drive by the Conservative-led government following the glo
- LONDON (AP) — Former British Treasury chief George Osborne is to join investment management firm BlackRock as an adviser.
- If you're troubled by Trump, or bovvered by Brexit, I have good news for you: there is something far, far more serious for you to be worrying about. Last year was the hottest year on record. So was the year before. And the year before that. Sixteen of the seventeen hottest years on record have been since the beginning of this century. Read more: Brexit, Climate Change, Donald Trump, UK Politics, UK Economy,UK Politics News
- (Reuters) - Chemicals maker Synthomer estimated 2016 profit ahead of market expectations after stronger-than-expected performance in Europe and Asia and a weak sterling boosted fourth-quarter trading, pushing its stock to a record high. Canaccord Genuity raised its full-year earnings expectations by about 8 percent for 2016 and 3 percent for 2017. Synthomer, which counts the euro as its largest trading currency, said currency translation was expected to boost 2016 results by about 12 million pou
- Since the financial crisis, the incomes of the poorest fifth of households in the UK has risen by over 13% in real terms and that of the best paid fifth has fallen 3.4%.The post Wealth inequality in the UK may be too high, but it is falling, not rising was first published on MoneyWeek.
- By Philip Blenkinsop BRUSSELS (Reuters) - Donald Trump's policy plans in his first days in office are likely to dominate headlines in the coming week, but the new president himself will also get a first read-out on the health of the U.S. economy. While Trump has talked of a feverish first full day - with orders and notifications to withdraw from the TPP trans-Pacific trade pact, cancellation of restrictions of energy production and curbs on illegal immigrants - the economic diary is light. Other
- Britain's biggest telecoms group BT will raise its broadband prices by an inflation-busting 5 or 6 percent in April, as well as charge more for calls and some of its TV packages. BT customers on standard copper broadband will be charged an extra 2 pounds ($2.46) from April 2, the company said on Friday, while those on its faster Infinity product face paying an extra 2.50 pounds. The rises are more than triple the current 1.6 percent rate of consumer inflation.
- via United KingdomIT WOULD be hard to find two more different characters than Theresa May and Donald Trump; the former a suburban vicar's daughter, the latter a brash reality TV star. But they face similar problems—how to keep both the markets and their supporters satisfied.For Mrs May, the problem is her dissonant rhetoric. On the one hand, she has used what was once known as “one nation” Tory rhetoric, arguing against the worst excesses of capitalism and the need to help those who are “j
- By Martinne Geller and Noah Barkin DAVOS, Switzerland (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday the prospects of faster U.S. growth may push up the dollar, and he offered an upbeat view on the world economy, dismissing concerns that protectionism could spread and undermine global trade. All of (this) may make interest rates rise and the dollar might also appreciate," Kuroda told reporters after a session at the World Economic Forum in Davos, Switzerland.
- By Karolin Schaps LONDON (Reuters) - Oil prices edged up for a second day on Friday on expectations that a weekend meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but a larger than expected rise in weekly U.S. crude stocks capped gains. U.S. West Texas Intermediate (WTI) crude oil futures were trading up $1.25, also 2.4 percent, at $52.62 a barrel. "Prices were pushed down a bit too far and hopes will rise that the OPEC/non-OPEC meeting this wee
- By Ben Hirschler and Noah Barkin DAVOS, Switzerland (Reuters) - A strengthening dollar and a "race to the bottom" on taxes, deregulation and trade policy are the major risks to an otherwise brightening global economy, financial leaders said on the final day of the World Economic Forum in Davos. Asked about "black swans", or unexpected, disruptive events, that could derail the outlook in 2017, International Monetary Fund (IMF) chief Christine Lagarde touched on risks stemming from the policy prom
- By Jamie McGeever and Marc Jones LONDON (Reuters) - For financial markets, the Trump era begins on Monday, and if history is any guide the following month should be a rocky one for Wall Street but positive for the dollar. The S&P 500 has fallen a median 2.7 percent in the month after each new president has taken the keys to the White House since Herbert Hoover did so in January 1929, according to Reuters analysis. Only four presidents have seen Wall Street rise in their first month in power:
- Investors lose appetite as debt loads build
- Bank of Japan Governor Haruhiko Kuroda said on Friday U.S. economic growth and inflation may accelerate in coming years, which may push up interest rates and the value of the dollar. "The U.S. economy is likely to accelerate growth this year and next year, and price inflation may somewhat rise. All of (these factors) may make interest rates rise and the dollar might also appreciate," Kuroda told reporters after attending a session of the World Economic Forum.
- via United KingdomMain image:
THE urgency with which Britain’s Brexiteer elite has scrambled to cosy up to Donald Trump in the weeks building up to today’s inauguration has been something to behold. Leading the way was Nigel Farage, the former UKIP leader, flashing a mile-wide grin as he posed for souvenir snaps with the president-elect. Last week Michael Gove made the same pilgrimage. The former justice secretary, now writing for the Times, could barely conceal how impressed he was by Ameri
- By Carmel Crimmins and Pamela Barbaglia DAVOS, Switzerland (Reuters) - U.S. bankers, buoyed by a resurgence in profits, are advising their counterparts in Europe to think positively about the new administration of U.S. President-elect Donald Trump. At the annual gathering of the world's political and business elites in the Swiss resort of Davos, U.S. financiers told investors and overseas' rivals to focus less on Trump's anti-globalisation rhetoric and more on his cabinet picks, comprising of Wa
- John Vincent, the 45-year-old father of two and co-founder of restaurant chain Leon, takes a rather odd approach to running a business.
The post Money makers: welcome to the surreal world of Leon was first published on MoneyWeek.
- The German football association (DFB) board voted unanimously on Friday in favour of the country's long-planned bid to host Euro 2024. The DFB, which announced its intention to bid for the continental tournament several years ago, said it would hand in the official bid notification to UEFA by March 3. "Euro 2024 can become an important beacon for German football," DFB President Reinhard Grindel said in a statement.
- Professional investor Colin McLean tips three attractively priced growth stocks to tuck away in your portfolio.
The post Three solid growth stocks to buy now was first published on MoneyWeek.
- By Rajesh Kumar Singh and Suvashree Choudhury NEW DELHI/MUMBAI (Reuters) - India pushed ahead with its decision to scrap banknotes even as the Reserve Bank of India's (RBI) own board expressed concern whether the cash could be replaced quickly enough, the central bank has said in written testimony to parliament. The revelation comes amid growing criticism about whether the central bank and the government had sufficiently assessed the potential fallout from the Nov. 8 ban of about 86 percent of t
- Technology-driven unemployment is no longer just an ailment of low-income households. No job is safe. There are now AI lawyers, AI accountants, and AI financial advisors. Even AI hedge fund managers. So much money is now being spent on technology that Gartner estimates many companies spend more on marketing technology than they do on actual marketing. Read more: Ai, Artificial Intelligence, Technology, Algorithms, Future, Economy, Jobs, Employment, Unemployment, Redundancy, Uber, Google, UK Tech
- Aberdeen-based John Wood Group provides engineering support services to the global oil and gas industry. In the last year, the share price has risen by almost 60%.
The post If you’d invested in: John Wood Group and Capita was first published on MoneyWeek.
- Aberdeen-based John Wood Group provides engineering support services to the global oil and gas industry. In the last year, the share price has risen by almost 60%.
The post If only you’d invested in: John Wood Group was first published on MoneyWeek.
- Vinyl is on the verge of becoming a billon-dollar industry. But will the sales keep coming? Chris Carter investigates.
The post Fans spin vinyl to record high was first published on MoneyWeek.
- Prince Harry's squeeze Meghan Markle has an odd trick for keeping the wrinkles at bay.
The post Beauty secrets of Prince Harry’s girl was first published on MoneyWeek.
- PARIS (Reuters) - A series of elections in major European countries this year like France and Germany will not derail the improving euro zone economic outlook, ECB governing council member Francois Villeroy de Galhau said in a Bloomberg television interview on Friday. "Clearly (the euro zone economy) is firming. All signs point to the same direction and I don't feel that the electoral cycle will change this economic mood," he said in the interview on the sidelines of the meeting of business and
- A lot of people worry that central banks and governments will ban cash. But they may not need to, says Merryn Somerset Webb. We might just decide to do without it.
The post Governments don’t need to ban cash, we’ll all just stop using it was first published on MoneyWeek.
- Swearing-in of new president set for a mixed reception
- Lost among some of Donald Trump's more questionable statements was the proposal to scrap the tax deductibility of interest expenses.
The post One of Trump’s better ideas was first published on MoneyWeek.
- Outgoing president should be lauded for economic recovery and reshaping the car industry
- This is a perfect Whispering Angel and it will appeal from the moment it is poured into your glass, says Matthew Jukes.
The post A whispering angel to guide you to the summer was first published on MoneyWeek.
- By Andy Bruce and William Schomberg LONDON (Reuters) - British retail sales suffered their biggest slump in more than four years in December, denting what had been a promising fourth quarter and rattling sterling as more signs emerged of a pick-up in inflation since June's Brexit vote. Consumer spending has been the main driver of Britain's economy since June's referendum decision to leave the European Union, with other sources of growth like investment and trade lagging. Friday's data showed re
- Few motorbikes will come even close to matching the ability of the Black Douglas to put a smile on your face.
The post A return to the good old days with the Black Douglas was first published on MoneyWeek.
- Bank of Japan Governor Haruhiko Kuroda said on Friday the country's economy is likely to head towards a sustainable growth path as global trade and manufacturing activity pick up. "Our top priority for macro-economic policy continues to be to overcome deflation," Kuroda told a session of the World Economic Forum. Experience with decades of deflation had made inflation expectations among the Japanese public adaptive, or heavily influenced by past and underlying price growth, he added.
- The head of the International Monetary Fund said on Friday that one of the biggest risks to the global economy in 2017 was "a race to the bottom" on taxes, regulations and trade, in an indirect reference to the policy plans of the incoming U.S. administration. "If the disruptions we are expecting for 2017 as a result of what has happened in 2016 prove to be all negative and we are to end up in a race to the bottom on the tax front, on the trade front, on the financial regulation front, then that
- Charlie Munger was originally a value investor, buying companies that were trading below their book value.
The post Charlie Munger: the world’s greatest investors was first published on MoneyWeek.
- Ombudsman inquiry will take on Draghi’s membership of Group of Thirty forum
- No other American philanthropist has given away as much during their lifetime as Chuck Feeney. And he's done most of it in complete secrecy.
The post Chuck Feeney: the James Bond of philanthropy was first published on MoneyWeek.
- Underlying inflation in the euro zone will remain weak for years to come, a survey showed on Friday, suggesting that the European Central Bank is still far from scaling back its unprecedented stimulus measures. Underlying inflation, a key measure watched by the ECB, is seen rising to just 1.1 percent this year, barely half of the bank's inflation objective, then inching up to 1.3 percent in 2018 and 1.5 percent in 2019, the ECB said in its quarterly Survey of Professional Forecasters. The ECB ke
- Xi Jinping’s Davos speech showed promising signs
- Emma Lunn looks at whether forming a limited company can cut down on your tax bill.
The post Should you incorporate to save on tax? was first published on MoneyWeek.
- Donald Trump is seen as “business friendly”. But that won‘t necessarily mean soaring markets or record returns. For investors, there’s just one thing they need to know, says John Stepek.
The post The only question that matters for investors on Trump’s inauguration day was first published on MoneyWeek.
- The quiet recovery in the oil price is a trend that hasn’t been getting as much attention as it should, but it may offer a trading opportunity, says Matthew Partridge.
The post Reasons to be bullish on oil was first published on MoneyWeek.
Follow @economyUKnws on Twitter!