European shares fell back on Friday as weak data from China rekindled anxiety over slowing growth and investors fretted ahead of Saturday’s crucial G20 talks between U.S. President Trump and China’s Xi Jinping over trade. The pan-European STOXX 600 opened marginally up but rapidly fell into the negative, down 0.3 percent by 0825 GMT. Germany’s […] Read more
By Elise Young New Jersey moved closer to becoming the 11th U.S. state to legalize recreational marijuana use after legislative committees approved bills to end the prohibition and wipe out the criminal records of some drug offenders. The action puts the bills on track for all-but-certain passage by the Assembly and Senate on Dec. 17. While […] Read more
European shares resumed their downwards trend on Thursday, hit by some disappointing earning updates including from UK utility Centrica and a fall in Italian banks on continued uncertainty over the outlook for the country’s finances. At 0818 GMT, STOXX 600 fell 0.5 percent, with most sectors trading in the red following broad-based gains in the […] Read more
Consumer spending in advanced economies seems to be on the upswing, buoyed by healthy economic activity and improved labor markets. However, rising tariffs and slow real-wage growth could play spoilsport. Consumers in advanced economies appear to be back with a bang. In the United States, personal consumption expenditure grew 4.0 percent (at a seasonally adjusted […] Read more
When it comes to ambitious developments, Dubai is a name to reckon with. It takes the lead in conceiving and bringing amazing projects – such as the world’s biggest natural flower garden, Burj Khalifa, the world’s tallest tower and a lavish underwater luxury hotel – to life in quick time. Given the city’s huge appetite […] Read more
Hong Kong’s Hang Seng jumped 4.2%, China’s Shanghai Composite rose 2.7%, Japan’s Nikkei gained 2.56% and South Korea’s Kopsi rose 3.5%. The FTSE 100 was up 0.78%, the CAC 40 in Paris rose 1.26% and the Dax in Frankfurt climbed 1.44%. Markets moved higher after Bloomberg reported US President Donald Trump wants to reach an […] Read more
UBS is considering acquisitions and joint-ventures to bolster its $800 billion asset management business and stay competitive with larger, fee-cutting US rivals. Top executives at the Swiss lender, which has been gun-shy toward growing via M&A, feel the company needs to ramp up its scale to compete on a global level and may eye specialized […] Read more
European shares rose timidly on Tuesday, their second day of gains as earnings from BP and Volkswagen impressed investors and boosted oil and autos stocks. The leading euro zone stocks index <.STOXX50E> was up 0.4 percent by 0829 GMT, while Germany’s DAX <.GDAXI> rose 0.3 percent and Britain’s FTSE 100 <.FTSE> climbed 0.4 percent. U.S. […] Read more
August saw that optimism increase among consumers, the Conference Board found, with the percentage of consumers expecting business conditions will get better over the next six months increasing to 24.3 percent from 22.9 percent. These historically high confidence levels should continue to support healthy consumer spending in the near-term. Read more
Coca-Cola is hoping for a caffeine-fueled boost. The company said Friday it will buy the Costa coffee brand from British firm Whitbread for 3.9 billion pounds ($5.1 billion) in cash. Costa is Britain’s biggest coffee company, with over 2,400 coffee shops in the U.K. and another 1,400 in more than 30 international markets. The deal, […] Read more
