BERLIN () – Sharp critics of the coalition with Chancellor Angela Merkel’s conservatives won a vote for the leadership of Germany’s Social Democrats (SPD) on Saturday, raising big questions over the future of the government. Saskia Esken and Norbert Walter-Borjans gesture after being announced by Rhineland-Palatinate State Premier Malu Dreyer as winners of a Social
Saskia Esken and Norbert Walter-Borjans gesture after being announced by Rhineland-Palatinate State Premier Malu Dreyer as winners of a Social Democratic Party members’ ballot for leadership in Berlin, Germany, November 30, 2019. /Fabrizio BenschBERLIN () – Opponents of the coalition with Chancellor Angela Merkel’s conservatives won a vote for the leadership of Germany’s Social Democrats
(Updates with vote result) By Madeline Chambers BERLIN, Nov 30 () – Opponents of the coalition with Chancellor Angela Merkel conservatives won a vote for the leadership of Germany’s Social Democrats (SPDR) on Saturday, raising questions over the future of the government. The SPDR said Norberto Walter-Borjans and his running mate Saskia Esker won about
BRUSSELS () – Officials from the new European Commission will discuss a report by International Monetary Fund researchers that lists Luxembourg as a world-leading tax haven just days after the former leader of the Grand Duchy departs the EU executive’s helm. FILE PHOTO: General view of the city of Luxembourg, Luxembourg, March 25, 2017. /Eric
LONDON, Nov 30 () – The lead for British Prime Minister Boris Johnson’s Conservatives over the Labour Party has narrowed sharply to six points from 13 a week ago, according to a poll by BMG for the Independent newspaper conducted before the London Bridge attack. The Conservatives were on 39%, down 2 points, compared with
MILAN () – The head of Italy’s ruling 5-Star Movement said on Saturday the government should not sign off on a reform of the euro zone’s bailout fund until plans for a wider banking union became clearer. FILE PHOTO: Italian Foreign Minister Luigi di Maio speaks during a news conference with U.S. Secretary of State
BERLIN () – Germany’s Social Democrats (SPD) will on Saturday announce the winner of a party leadership ballot, whose first task will be to decide whether to quit the ruling coalition with Chancellor Angela Merkel’s conservatives. FILE PHOTO: German Chancellor Angela Merkel and Vice Chancellor and Finance Minister Olaf Scholz attend the weekly cabinet meeting
FILE PHOTO: A New Zealand Dollar note is seen in this picture illustration June 2, 2017. /Thomas White/Illustration/File PhotoMELBOURNE () – The New Zealand government plans a significant increase in infrastructure spending, making use of low borrowing costs to “build” the country, Finance Minister Grant Robertson said on Saturday. Economic output of the Pacific country
BEIJING () – Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing’s accelerated stimulus measures to steady growth. FILE PHOTO: An employee works at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23,
BEIJING () – Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing’s accelerated stimulus measures to steady growth. FILE PHOTO: An employee works at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23,
Nov 29 () – S&P Global Ratings said on Friday that it raised Ireland’s long-term and short-term foreign and local currency sovereign credit ratings to ‘AA-/A-1+’ from ‘A+/A-1’, commending the country’s strong fiscal measures and economic growth. « The outlook is stable because we expect that, despite external risks — including the possibility of a no-deal
NEW YORK () – A U.S. digital currency specialist living in Singapore has been arrested and criminally charged with helping North Korea use cryptocurrency and blockchain technology to evade American sanctions, the U.S. Department of Justice said on Friday. Federal prosecutors in Manhattan said Virgil Griffith, 36, traveled to North Korea via China in April
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 27, 2019. /Brendan McDermidNEW YORK () – U.S. equity stock funds saw $390 million in outflows in the week ended on Wednesday, the fourth straight week of outflows for such funds, according to data released by Lipper on
() – The cost of cars equipped with ultra-fast 5G wireless technology is likely to go up if microchip supplier Qualcomm Inc’s (QCOM.O) patent licensing practices fail to change, a trade group representing major automakers and two leading automotive suppliers said in court filings on Friday. FILE PHOTO: Computer chip maker Intel’s logo is shown
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 27, 2019. /Brendan McDermidNEW YORK () – U.S. equity stock funds saw $390 million in outflows in the week ended on Wednesday, the fourth straight week of outflows for such funds, according to data released by Lipper on
(Adds comment from source, details) By Valentina Za and Stefano Bernabei MILAN, Nov 29 () – Italian state-owned bad loan manager AMCO said on Friday it would raise 1 billion euros ($1.1 billion) in fresh capital by the end of the year as it prepared to take on more soured bank loans. AMCO, which is
Nov 29 () – Canada is being asked to contribute funding to Mexico’s labour reforms in the U.S.-Mexico-Canada Agreement (USMCA) trade talks, the Globe and Mail reported on Friday, citing a source. The topics dominating the talks include a stronger dispute settlement mechanism, steps to modify patent protections that may rein in drug prices and
PARIS () – France’s financial regulator will subject banks and insurers to climate change stress tests next year, central bank governor Francois Villeroy de Galhau said on Friday. FILE PHOTO: Francois Villeroy de Galhau, governor of the Bank of France, attends a seminar on the sidelines of the G20 finance ministers and central bank governors
BEIRUT () – Lebanon’s central bank governor will take “necessary, temporary measures” to preserve the banking sector and depositor rights, the banking association head said on Friday. FILE PHOTO: Salim Sfeir, chairman of the Association of Banks in Lebanon and chief executive of Bank of Beirut, is pictured during an interview with in Beirut, Lebanon
LONDON (Thomson Foundation) – Glassy skyscrapers and luxury apartment towers cast a shadow over an east London high street dotted with greasy-spoon cafes and launderettes, a “last bastion” against gentrification, according to a new film released in Britain on Friday. London’s growing financial district and a traditionally working-class neighborhood sit awkwardly alongside each other in
JOHANNESBURG () – Two big travel insurance companies in South Africa have stopped covering tickets issued by South African Airways (SAA) against insolvency as doubts grow about whether the struggling state-owned airline can survive. FILE PHOTO: A South African Airways Airbus A340-300 plane prepares to take off at the O. R. Tambo International Airport in
() – European shares ended the week with their worst day this month as a clutch of fairly upbeat economic data on Friday failed to assuage investor concerns about a setback in Sino-U.S. trade talks after China’s rebuke over a U.S. law on Hong Kong. The German share price index DAX graph is pictured at
(Adds Carige’s RIC) MILAN, Nov 29 () – Italian state-owned bad loan manager AMCO said on Friday it would raise 1 billion euros ($1.1 billion) in new capital by the end of the year to finance the purchase of new assets. AMCO, fully owned by the Italian Treasury, has been playing an increasingly central role
LONDON/MADRID () – The Netherlands’ biggest insurer NN Group NV (NN.AS) and Belgian rival Ageas (AGES.BR) are vying to win market share in Spain as they prepare final offers to take control of domestic insurer Caser Seguros ahead of a Dec. 3 bid deadline, sources said. Caser is one of Spain’s leading players in bancassurance
JOHANNESBURG/LONDON () – Anglo-South African financial services group Investec (INVP.L) (INLJ.J) expects to raise about 189 million pounds ($242 million) from the sale of around 10% of its asset management business, which will be renamed Ninety One when it is spun off in March. Investec, which manages more than 119 billion pounds ($154 billion) in
OSLO () – Shares of Norwegian bank DNB (DNB.OL) fell 6.4% on Friday after police launched an investigation into the handling of payments from an Icelandic fisheries business to Namibia. FILE PHOTO: A view of DNB bank’s local office in Riga, Latvia November 20, 2013. /Ints Kalnins/File PhotoNorway’s white-collar crime unit late on Thursday said
* Q3 GDP up 2.3% y/y * Household spending up by 4.3% y/y * Monthly inflation at zero in November (Updates with Bank of Slovenia comments in paras 3 to 5) By Marja Novak LJUBLJANA, Nov 29 () – Slovenia’s economy expanded by 0.8% in the third quarter from the second, the fastest quarterly growth
AMMAN () – A financial crisis in Lebanon has hit the economy of neighboring Syria hard, choking off a vital source of dollars and dragging the Syrian pound to record lows. FILE PHOTO: People are seen in the souk in the old city of Damascus, Syria April 17, 2018. /Ali Hashisho/File PhotoShut out of the
COLOMBO, Nov 29 () – Sri Lankan shares closed at a 17-month high on Friday, helped by positive sentiment surrounding tax cuts by the country’s new government, while the rupee ended a tad weaker. ** The government said on Wednesday it had decided to reduce value-added tax to 8% from 15% from Dec. 1, and
* Strike pushes SAA to brink of collapse * Three insurers stop covering its tickets * Government holding talks about airline’s future * Analyst says moves by insurers ‘hugely significant’ (Adds other insurers drop SAA) By Alexander Winning JOHANNESBURG, Nov 29 () – Three travel insurance companies in South Africa have stopped covering tickets issued
