Greek debt crisis: Fresh drama looms as cabinet minister attacks International Monetary Fund September 14, 2016 Greece has struck out at the International Monetary Fund (IMF) as the ongoing argument over the country's debt crisis continues to simmer. The country's employment minister, George Katrougalos, warned the Fund today it would no longer tolerate its "extreme" calls for reforms to the minimum wage, pensions and collective bargaining rules. The IMF is one leg of the [...]
China expected to be the golden ticket for Accesso as revenue leaps September 14, 2016 International growth in resorts and attractions is set to work well for ticketing technology company Accesso in coming years. China's booming middle class could propel the country to the fore of global theme park, resort, and attraction ticket sales and Accesso is expecting to be able to take a slice of the action. Bottom line growth in recent months means the Berkshire-based company is now eyeing up expansion [...]
Christine Lagarde and Mario Draghi call on politicians to do more to help the losers of globalisation September 13, 2016 Two of the planet’s most important policymakers have criticised the response of governments around the world to growing concerns over globalisation, inequality and technological change. Christine Lagarde, head of the International Monetary Fund (IMF) and Mario Draghi, president of the European Central Bank (ECB) said governments and institutions needed to make sure their policies did [...]
As Luxembourg’s foreign minister calls for Hungary to be kicked out, is the EU starting to unravel? September 13, 2016 Tom Slater, deputy editor of Spiked, says Yes. Is the EU unravelling? We can only hope. The Luxembourg foreign minister’s outburst this week, lambasting Hungary for its migration policies, reminds us that the EU is not a glorious union of European peoples — it’s an oligarchy, whose anti-democratic edicts pit rich countries against poor, northern Europe [...]
Former EU president Jose Manuel Barroso turns on Brussels over Goldman Sachs job September 13, 2016 Former European President Jose Manuel Barroso has issued a blistering attack on EU leaders and institutions over their attempts to frustrate his plans to take up a new role with Goldman Sachs. In a strongly worded letter sent to his successor, Jean-Claude Juncker, today, Barroso stated: "It has been claimed that the mere fact of working [...]
Bob Diamond’s Atlas Merchant Capital searching for a new partner in Barclays Africa bid September 13, 2016 Atlas Merchant Capital, an investment vehicle led by former Barclays boss Bob Diamond to create a pan-African bank giant, is searching for a new partner to table a bid for Barclays Africa, City A.M. understands. It was yesterday revealed that private equity giant Carlyle had walked away from its consortium with Atlas in April this year. [...]
Raft of positive data from China lifts Asian markets September 13, 2016 Markets in Asia have been reacting to a raft of positive data from China, as both retail and industrial figures beat economists' expectations. In August, industrial production was up 6.3 per cent year-on-year, according to China's National Bureau of Statistics. This was up from six per cent growth in July – and it just beat [...]
Last ever British EU commissioner pledges allegiance to Brussels September 12, 2016 The man set to become the UK's last ever European commissioner has pledged to work solely for Europe's best interests in a "marathon" hearing before members of the European Parliament. Julian King, currently the UK's ambassador to France, was announced as successor to Lord Jonathan Hill, who resigned straight after the EU referendum, having been in [...]
As Hillary Clinton recovers from pneumonia, should markets worry about the state of her health? September 12, 2016 Mike van Dulken, head of research at Accendo Markets, says Yes. Markets are right to be concerned about the health of the US Democratic presidential nominee. First, they had increasingly been pricing in her beating Republican rival Donald Trump, who could be disruptive for the economy, and this health scare calls that into question. Everyone [...]
Doves back on top as key Fed member eases on US rate hike September 12, 2016 The chances of the Fed raising rates for the second time since the financial crisis next week has been dealt another blow as a key rate-setter said the case for a hike had fallen away. Lael Brainard, seen as one of the most cautious voices on the rate-setting federal open markets committee (FOMC), said the arguments in [...]