The woman behind the Brexit row: Gina Miller tells City A.M. why she took the government to task over Article 50 October 13, 2016 Gina Miller's high-profile court case over the triggering of Article 50 – the process by which the UK would start to leave the EU – begins today (Thursday 13 October). Miller's action is one of many brought after the public voted in June for Britain to leave the European Union, but hers has become the bellwether case. Constitutional law, [...]
More controversy for Donald Trump’s campaign as two women claim he touched them inappropriately October 13, 2016 The latest scandal engulfing Donald Trump's White House bid has intensified after two women told the New York Times the Republican presidential nominee touched them inappropriately. One woman, 74-year-old Jessica Leeds, said Trump grabbed her breasts and attempted to grope her on a flight three decades ago, while another, then 22-year-old Trump Towers receptionish Rachel Crooks, said the nominee kissed her [...]
Is this as good as it gets for manufacturing in the Eurozone? October 12, 2016 The march of the Eurozone's makers sped up over the summer as industrial production rose across the single currency bloc. Manufacturing output jumped by 1.6 per cent in August, ahead of expectations and up from a stumble in July which saw activity slip. The four biggest members of the 19-member Eurozone all reported growing activity, [...]
IEA says oil market will recover faster if Opec sticks to cut deal October 11, 2016 The International Energy Agency (IEA) said today that the global oil market could recover more quickly if the Organisation of Petroleum Exporting Countries (Opec) sticks to its production cut deal. "Even with tentative signs that bulging inventories are starting to decline, our supply-demand outlook suggests that the market — if left to its own devices — may remain [...]
Hillary Clinton takes 14 point lead over Donald Trump in poll October 11, 2016 Democratic Presidential nominee Hillary Clinton has taken a double-digit lead over her Republican rival Donald Trump, according to a new poll. A new survey carried out for the Wall Street Journal and NBC News over the weekend found Clinton on 46 points to Trump's 35. However, during the head-to-head debate on Sunday the gap between the two [...]
Greek bailout stumbles forward but disagreements remain October 10, 2016 Greece has been given the green light to get its hands on €1.1bn from the European authorities as part of its multi-billion euro bailout programme after it successfully implemented a full package of reforms over the summer. Eurozone finance ministers agreed today the Greek Syriza government had met all of its requirements to implement "important reforms on [...]
People’s Bank of China sets renminbi fix at weakest in six years October 10, 2016 The People's Bank of China (PBoC) has set the midpoint about which the currency can trade higher than 6.7 renminbi for the first time since 2010. Following the announcement, both the onshore renminbi CNY and the offshore renminbi CNH (which trades mainly in Hong Kong) came close to the six-year lows that they came to a [...]
New oil discovery in Alaska could reverse three decades of decline October 10, 2016 A minor oil firm just announced that it has made a “world-class” discovery in Alaska, which could be the largest find in the state in years. Caelus Energy LLC, a small company backed by private equity, says that it has discovered oil on Alaska’s northern coast. The field could hold as much as 6 billion barrels [...]
Nobel Prize for Economics awarded to Oliver Hart and Bengt Holmstrom for innovations in contract theory October 10, 2016 British professor Oliver Hart is one of the two laureates of this year's Nobel Prize for Economics, which has been awarded for innovation in contracts theory. Hart, who is based at Harvard University, and Finnish Bengt Holmstrom, based at MIT, have created valuable new theoretical tools that have helped to "[understand] real-life contracts and institutions, as [...]
In quotes: The most shocking and off-topic moments from last night’s US presidential debate October 10, 2016 Donald Trump and Hillary Clinton came together in their second presidential duel last night for the 2016 election, due to be held on 8 November. Moderated by Anderson Cooper and Martha Raddatz, the town-hall style debate was held at Washington University in St Louis and got off to a rocky start after the two candidates [...]