President Donald Trump insisted Wednesday that the economy is healthy and said the only thing holding U.S. growth back is the Federal Reserve. In his latest slap at the central bank, the president called Fed Chairman Jerome Powell to a “golfer who can’t putt.” In tweets, he also claimed the country is “doing great with […] Read more
The British Chancellor of the Exchequer, Philip Hammond, announced on Sunday that he would resign if Conservative leader candidate Boris Johnson is elected as next British prime minister on Wednesday. “I intend to resign after prime minister’s questions on Wednesday”, Hammond told the BBC’s Andrew Marr Show. Hammond’s announcement came just before foreign office minister […] Read more
Five boats believed to belong to Iranian Revolutionary Guards approached a British oil tanker in the Gulf on Wednesday and asked it to stop in Iranian waters close by, but withdrew after a British warship warned them, U.S. officials said. Britain’s Ministry of Defence had no immediate comment. The incident occurred almost a week after […] Read more
British companies are more worried about Brexit than at any time since the 2016 referendum decision to leave the European Union and they plan to reduce investment and hiring, a survey of chief financial officers showed on Monday. The survey conducted by Deloitte, a financial advisory firm, found that 83% of the CFOs believed that […] Read more
France’s central bank governor told CNBC Saturday that monetary policy cannot compensate for trade tensions, and political leaders need to act in order to fend off today’s economic threats. Speaking to CNBC’s Annette Weisbach at an economic conference in Aix-en-Provence in southern France, François Villeroy de Galhau underlined that the main threat to global growth […] Read more
Russian Energy Minister Alexander Novak said non-OPEC producers had agreed to a nine-month rollover of supply cuts, according to multiple media reports Tuesday, ratifying a policy designed to prop up oil prices amid a weakening global economy. It comes less than 24 hours after energy ministers from the world’s most powerful oil-producing nations thrashed out […] Read more
A deal is now subject to approval from non-OPEC allies at a meeting on Tuesday, with Iraq’s oil minister saying he did not anticipate any complications. Iranian Oil Minister Bijan Zanganeh told reporters he had “no problem” with supporting oil supply cuts by nine months. OPEC is set to debate an extension of oil production […] Read more
U.S. President Donald Trump’s fresh sanctions on Iran are a “symbolic act” and may leave Washington with no room to exert further pressure on the nuclear power, a former U.S. diplomat said Tuesday. “What else do you have to do that will actually have to affect the Iranians’ calculus?” said Amos Hochstein, who served as […] Read more
The trade war is “manageable”, Egyptian billionaire and CEO of OCI N.V, Nassef Sawiris, told CNBC on Monday. OCI N.V produces and exports natural gas-based fertilizers and industrial chemicals to customers across agriculture and industry sectors. President Donald Trump has now said he’s ready to hit the remaining $300 billion of Chinese imports with tariffs […] Read more
Theresa May steps down as the leader of Britain’s ruling Conservative Party leader on Friday (June 7), kickstarting a contest among numerous hopefuls looking to replace her as UK prime minister. She will remain in Downing Street as caretaker prime minister until next month, when the Tory leadership race concludes. The outcome will determine the […] Read more
