- New premier must either impose unpopular measures or defy Brussels
- For anyone investing in or building property today, Birmingham is clearly a better place to be doing it than London, says Merryn Somerset Webb.
The post For property investors, Birmingham beats London hands down was first published on MoneyWeek.
- JERUSALEM (AP) — Israel's Benjamin Netanyahu might be upbeat these days: The economy is growing, his opposition is weak and the incoming Trump administration seems friendly, even to the much-maligned Jewish settlements in the West Bank. Instead, the long-serving leader is mired in a series of eye-popping corruption investigations in a country that has already jailed a prime minister and president.
- By Dion Rabouin NEW YORK (Reuters) - The dollar fell to a four-week low on Tuesday, moving lower against all Group of 10 currencies with sterling leading the charge after a soothing speech on Brexit from British Prime Minister Theresa May triggered the pound's largest one-day percentage gain since 2008. A recent sell-off in the dollar deepened as U.S. traders returned from a long weekend to widespread weakness after President-elect Donald Trump said the greenback's strength against the Chinese y
- President-elect Donald Trump and congressional Republicans who have pledged to cut federal taxes to boost the economy might consider looking first at lessons learned in GOP-controlled states that adopted ...
- By Noah Barkin DAVOS, Switzerland (Reuters) - A senior adviser to Donald Trump warned about the risks of a stronger dollar at the World Economic Forum on Tuesday, saying it could make it more difficult for the president-elect to deliver on his promise to revitalise the U.S. economy. "We need to be careful about the rising currency, not just because of what is going on internationally but it will have an impact internally to the United States as well," Anthony Scaramucci, who will become a White
- Elite in Europe and US have misunderstood trade stance says Anthony Scaramucci
- Scaramucci illustrates willingness of new administration to comment on currency
- Morgan Stanley's wealth management business signed deals with 10 new digital partners last year, Chief Executive James Gorman said during a call on Tuesday with analysts to discuss the bank's fourth-quarter earnings. The new "digital alliances," as Gorman described them, signal a shift away from the do-it-yourself approach the bank took to technology in the past and its appetite for new ways to interact with technology-savvy clients, such as through apps and text messages. Unlike some of its Wal
- It is important to place Brexit in the wider context of everyday living in the UK. For most people, Brexit is relatively unimportant compared to the problems they face in their everyday lives. The Lancaster House speech is thus correct to focus on placing Brexit in the context of a concern with ensuring better outcome for people - people living in the UK, but also those living in other countries. Read more: UK Politics, Theresa May, Brexit, UK Economy, Single Market, Leaving the Single Market,UK
- The UK prime minister offers Europe carrot and stick, writes Sebastian Payne
- By Nigel Stephenson LONDON (Reuters) - Stocks and the dollar fell and gold rose on Tuesday as investors turned wary after President-elect Donald Trump said the U.S. currency was too strong, while sterling jumped as UK Prime Minister Theresa May promised parliament a vote on Brexit. U.S. stock index futures were down, an indication Wall Street would open lower. Trump's remarks that dollar strength was hurting competitiveness pushed the greenback down across the board, especially against sterling.
- By Danilo Masoni MILAN (Reuters) - European shares steadied on Tuesday, coming off lows as British Prime Minister Theresa May detailed her country's position on leaving the European Union, helping banking and travel stocks turn positive. Britain's blue-chip FTSE fell 1 percent to the day's low as the sterling surged on May's speech. Concerns over a hard Brexit had weighed strongly on the pound helping the FTSE end at record highs earlier this week.
- via United KingdomMain image:
FOR the past few months Theresa May and her ministers have allowed some ambiguities to swirl around Britain’s future relationship with the European Union. Yes, she confirmed in her conference speech in October, Brexit would take it beyond the jurisdiction of the European Court of Justice and the EU’s free movement regime. Some found this hard to square with reports that special arrangements would be sought for parts of the British economy (like the City of Londo
- Revised forecasts testify to past policy failures
- Wall Street bank Morgan Stanley's profit doubled in the last quarter of the year, far exceeding expectations, as trading activity surged following the U.S. presidential election. Analysts on average had expected a profit of 65 cents per share, according to Thomson Reuters I/B/E/S. Bank stocks have rallied since the election, on the hope that the new Trump administration will usher in a new era of looser bank regulations along with economic growth. Morgan Stanley Chief Financial Officer Jonathan
- A little over six months ago, the British people voted for change. They voted to shape a brighter future for our country. They voted to leave the European Union and embrace the world. And they did so with their eyes open: accepting that the road ahead will be uncertain at times, but believing that it leads towards a brighter future for their children - and their grandchildren too. And it is the job of this Government to deliver it. That means more than negotiating our new relationship with the E
- ATHENS, Greece (AP) — Greece's left-led government says it would welcome a decision by the International Monetary Fund to pull out of the country's bailout program, which is bogged down in disagreements on further spending cuts.
- The president’s remarks were a skilful appeal to business, writes Gideon Rachman
- (Reuters) - Wall Street bank Morgan Stanley's profit doubled in the last quarter of the year, far exceeding expectations, as trading activity surged following the U.S. presidential election. Earnings applicable to the bank's common shareholders soared to $1.51 billion in the three months ended Dec. 31 from $753 million a year earlier, while earnings per share increased to 81 cents from 39 cents. Analysts on average had expected a profit of 65 cents per share, according to Thomson Reuters I/B/E/S
- Sterling jumped on Tuesday by the most since June's Brexit referendum as Prime Minister Teresa May promised a parliamentary vote on Britain's deal to leave the European Union and stressed it would seek to stay a key European partner. It also gained around 0.8 percent to 87.36 pence per euro, reflecting a broader sell-off in the dollar globally driven by concerns over Donald Trump's presidency.
- As I told the Brexit Secretary David Davis in the House of Commons today, such an outcome would be disastrous for jobs and growth. Every car we export to Europe would become 10% more expensive; every item of clothing, 12%; every joint of British lamb, 40%. UK goods would be priced out of competitiveness in the European market. Read more: Theresa May, Brexit, UK Politics, UK Labour Party, Chuka Umunna, Vote Leave Watch, UK Economy, Single Market,UK Politics News
- UK prime minister sets out 12 priorities for the Brexit negotiations
- China's cabinet issued measures on Tuesday to further open the world's second-largest economy to foreign investment, including easing limits on investment in banks and other financial institutions. China will lower restrictions on foreign investment in banking, securities, investment management, futures, insurance, credit ratings and accounting sectors, the State Council said in a statement posted on its website. The state planner had indicated at the end of last year that the government would t
- By Anjuli Davies LONDON (Reuters) - Citigroup has hired former British foreign minister William Hague to be a senior adviser to the Wall Street bank, as Britain prepares to negotiate its exit from the European Union. Banks and investment firms have a long history of recruiting former political leaders and policymakers as advisers, and the appointment of Hague follows that of Mervyn King, former Governor of the Bank of England as senior adviser to Citi in July.
- DAVOS, Switzerland (Reuters) - China's economy has entered a "new normal", but its economic fundamentals are unchanged, Chinese President Xi Jinping said on Tuesday, adding a major driver now was household consumption. Despite the sluggish global economy, China's economy is expected to have grown 6.7 percent in 2016, Xi told the World Economic Forum in Davos, Switzerland, on Tuesday. (Reporting by Noah Barkin and Elizabeth Piper)
- By Patrick Graham and Marc Jones LONDON (Reuters) - A New Year sell-off of the U.S. dollar deepened on Tuesday as investors turned more gloomy on the immediate outlook, spurred by President-elect Donald Trump's comments that the strength of the U.S. currency against China's yuan "is killing us". In the first full day of U.S. trading since Trump's comments in an article in the Wall Street Journal, the arrival of traders at their desks in New York saw the currency sink past $1.07 per euro for the
- Alliance is finally doing what it should have been doing for the last 20 years – offering low-cost, high-conviction and well diversified investment for the masses.
The post Alliance Trust is finally getting its act together was first published on MoneyWeek.
- China’s president draws a line between himself and US president-elect Donald Trump
- Millions of us benefit from free movement. Now is the time to extend these benefits and share them more equally - not shut them down altogether - and that is why today the Green Party launched a petition calling on the Prime Minister to protect freedom of movement. We know we are not alone in believing that we live in a welcoming, caring country but we must make that voice heard if we are to protect it for future generations. Read more: Freedom of Movement, UK Politics, UK Green Party, Brexit, U
- Euro zone banks expect loan demand to rise and qualifying to borrow to be easier in the first quarter of 2017 as economic activity continues to expand in the 19-member currency bloc, the European Central Bank said in a quarterly survey on Tuesday. Hoping to boost economic activity, the ECB has flooded the financial system with over a trillion euros in recent years as part of its unprecedented stimulus cocktail, buying government and corporate bonds, and giving banks access to free loans to reviv
- May's much-awaited speech is likely to set out her 12 priorities for upcoming talks with the European Union on the terms of Britain's departure. Several newspapers reported that May would stress leaving the EU's single market and regaining full control of Britain's borders, reinforcing worries that Britain will undergo a "hard" Brexit - concern that has pushed sterling lower. The weaker pound has helped the FTSE 100 , which is dominated by internationally focused companies, to surge more than 25
- By Helen Reid LONDON (Reuters) - European shares were dragged lower by miners and carmakers on Tuesday, as markets awaited details of Britain's Brexit position in a late morning speech by Prime Minister Theresa May. The pan-European STOXX index was down 0.4 percent, and Britain's blue-chip FTSE extended its losses, down 0.3 percent. Uncertainty about Britain heading for a "hard" Brexit was reinforced over the past week, pushing the pound to some of the lowest levels against the U.S. dollar seen
- Excessive executive pay has been a problem for years, with big shareholders failing to control it. But the rise of passive investing is changing that. John Stepek explains why.
The post How passive investors could solve the problem of executive pay was first published on MoneyWeek.
- The mood among German analysts and investors improved slightly in January, with rising expectations "a leap of faith for 2017" after a stronger-than-expected performance by Europe's largest economy in 2016, the ZEW economic institute said on Tuesday. Mannheim-based ZEW said its monthly survey showed a rise in its economic sentiment index in January to 16.6 points from 13.8 points the previous month. The Reuters consensus forecast was for a rise to 18.3.
- Consumer prices rose 1.6 percent compared with a year earlier, the Office for National Statistics said, above economists' expectations in a Reuters poll for a 1.4 percent rise and up from 1.2 percent in November. This will translate into further inflation in the short term." May, who has said she will launch formal negotiations for leaving the European Union by the end of March, is due to say on Tuesday that Britain will not seek a deal that leaves it "half in, half out" of the bloc, according t
- FRANKFURT, Germany (AP) — Inflation has suddenly jumped in Europe. Growth is picking up. But don't expect the European Central Bank to start withdrawing its extensive stimulus programs just yet.
- BEIJING (Reuters) - China's State Council on Tuesday issued new measures to further open the world's second-largest economy to foreign investment. China will lower restrictions on foreign investment in banking, securities, investment management, futures, insurance, credit ratings and accounting sectors, the Cabinet said in a statement posted on its website. China will allow foreign-invested firms to list on the Shanghai and Shenzhen exchanges and a new third board, and also allow them to issue c
- Core inflation in the euro zone has not increased significantly but a rise in energy prices might eventually drag it upwards, European Central Bank Governing Council member Ewald Nowotny said on Tuesday. "Headline inflation is increasing quite substantially but core inflation not very much, so it is for the time being at least mainly due to the effects of rising oil prices, energy prices," Nowotny told a Euromoney conference in Vienna. "Rising oil prices at the end of the day may feed through in
- Euro zone banks are set to ease credit standards in the first quarter after a modest tightening of corporate lending standards in the last three months of 2016, a European Central Bank lending survey showed on Tuesday. In the three months to December, net demand for loans to enterprises continued to increase and banks expect lending to gain further momentum in the first quarter, the ECB said in the quarterly survey. Net demand for housing loans and consumer credit rose in the fourth quarter and
- European shares fell on Tuesday, weighed by miners and autos, as markets awaited details of Britain's Brexit position in a late morning speech by Prime Minister Theresa May. The pan-European STOXX index was down 0.5 percent, and Britain's blue-chip FTSE extended its losses, down 0.4 percent. Fears that Britain is heading for a "hard" Brexit were reinforced over the past week pushing the pound to some of the lowest levels against the U.S. dollar seen in more than three decades. Britain will not s
- By Shinichi Saoshiro TOKYO (Reuters) - The pound hovered near three-month lows versus the dollar on Tuesday and stocks were mostly weaker as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union amid fears Britain will lose access to the single market. Speadbetters forecast a slightly lower open for Britain's FTSE , Germany's DAX and France's CAC . According to her office, May will say in a speech later in the day that Britain will not seek a Brexit
UK PM to set out 12-point blueprint, why China â€” not Russia â€” is Trumpâ€™s real problem and how streaming saved the music industryTheresa May is expected to announce that the UK may leave the EU single market
- Experts at Davos worry president-elect’s trade agenda may lead to long-term damage
- TOKYO (Reuters) - Japanese Economy Minister Nobuteru Ishihara said on Tuesday that a fall in the British pound and declines in stocks reflected uncertainty about Britain's departure from the European Union and about the global economy. "These moves show there is a lot of focus on uncertainty for the global economy. This is a situation we would also like to monitor," Ishihara told reporters after a cabinet meeting. (Reporting by Stanley White; Editing by Chris Gallagher)
- British businesses are increasingly cautious about their investment plans as they worry about how the country's planned departure from the European Union will affect the economy this year, a survey showed on Tuesday. Business confidence in December remained at its second-highest level since Britain voted to leave the EU in June, polling firm YouGov and the Centre for Economic and Business Research (CEBR), a think tank, said. The proportion of business decision-makers expecting investments to inc
- Bank of England Governor Mark Carney declined on Monday to say if the central bank would respond to the sharp fall in the pound, saying only that the value of sterling goes up and down. "The best I can say is that the value of the pound will go up and down," Carney said, after being asked a question about the outlook for the currency after delivering a speech at the London School of Economics. Carney also repeated his view that leaving the European Union has the potential to reinforce existing r
- By David Milliken and Andy Bruce LONDON (Reuters) - Bank of England Governor Mark Carney said on Monday that he would keep a close eye on British consumers this year to see if their buoyant mood since June's Brexit vote persists in the face of higher inflation. Britain had one of the world's fastest-growing advanced economies last year, but the central bank has forecast growth will slow in 2017 as inflation rises above target in response to sterling's slump since the European Union referendum. I
- LONDON, Jan 16 (Reuters) Bank of England Governor Mark Carney said on Monday that he would keep a close eye on British consumers this year to see if their buoyant mood since June's Brexit vote persists in the face of higher inflation. Britain had one of the world's fastest-growing advanced economies last year, but the central bank has forecast growth will slow in 2017 as inflation rises above target in response to sterling's slump since the European Union referendum. In his first speech of 2017,
- Kudrin does well to make the case for reform in geopolitical terms
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