ECB restates commitment to €80bn quantitative easing programme October 6, 2016 The European Central Bank (ECB) has reiterated its commitment to its quantitative easing programme following rumours the central bank was preparing to taper its purchases of government and corporate bonds. In the minutes from its September meeting, released today, the ECB said "there should be no doubt about the [ECB's] determination to execute its asset purchases… and [...]
Angela Merkel has hit back at Theresa May’s plans for access to the Single Market October 6, 2016 Angela Merkel has hit back at Theresa May over her plans for maintaining access to the Single Market once the UK leaves the EU. The German chancellor told a business audience in Berlin she would not countenance giving the UK preferential access while allowing it to restrict the free movement of people. Theresa May told the [...]
German defence minister warns UK against messing with EU security October 6, 2016 German defence minister Ursula von der Leyen has warned the UK against getting involved in EU security matters. "The plea to the British is only not to block important European developments, when they say they want Brexit," von der Leyen told the Financial Times. "It is not good to prevent Europe from organising itself better." [...]
Portugal’s Antonio Guterres set to be the next UN Secretary General October 5, 2016 Portugal's Antonio Guterres is set to be the next United Nations Secretary-General. It comes after none of the five UN Security Council veto powers — China, France, Russia, the UK, and the US — voted against him in a secret ballot today. Read more: Theresa May tells UN summit UK will remain outward-facing after Brexit vote It paved the way [...]
US rate rise on the agenda as services sector storms ahead October 5, 2016 A pre-election rate hike in the US is back on the cards after a stellar performance from the country's services firms in September. The sector, which makes up around two-thirds of the world's largest economy, grew at its fastest pace this year, according to the closely-watching ISM non-manufacturing purchasing managers' index (PMI). The PMI came [...]
British scientist Sir J Fraser Stoddart among three 2016 Nobel Prize for Chemistry laureates for making the world’s “smallest machines” October 5, 2016 A British professor was among this year's laureates for the Nobel Prize in Chemistry, which was awarded to a trio of scientists for making the world's "smallest machines". The 8m Swedish krona (£724,000) prize money was split equally between the three winners, French Jean-Pierre Sauvage, Scottish Sir J Fraser Stoddart and Dutch Bernard L Feringa. In each of their research, [...]
PureLiFi, the Edinburgh technology firm is carrying out the world’s first large-scale trial of its system in Singapore October 5, 2016 | City Talk PureLiFi, the Edinburgh technology firm that uses light to provide wireless communications, is carrying out the world’s first large-scale trial of its system in Singapore. Following an agreement with Singapore's Info-communications Development Media Authority (IMDA), it will be the first time a city will roll out the technology which has the potential to be significantly [...]
Krispy Kreme sold to US parent as UK floatation plans deserted October 4, 2016 US doughnut chain Krispy Kreme is buying the UK business from its private-equity owner. Earlier in the week Krispy Kreme UK abandoned its planned £200m London initial public offering after a bid from its US parent. No financial details were disclosed but it’s thought the price tag is in the region of the planned IPO, [...]
Bill Gates tops US rich-list as Trump plunges October 4, 2016 Microsoft founder Bill Gates has retained his position as the richest person in the US for the 23rd year running. The latest Forbes ranking of the richest Americans put the tech entreprenuer top with a net worth of $81bn (£62bn). Meanwhile, US presidential hopeful Donald Trump took a hit, with his personal fortunre dropping around $800m, [...]
Is globalisation dying out? October 4, 2016 The annual meetings of the International Monetary Fund and the World Bank take place in Washington this week, against a backdrop of gloomy predictions for the future of global trade. According to its latest prediction forecasts, the World Trade Organisation expects total trade to grow by its slowest pace since the financial crisis this year, [...]