Brexit-and-see: ECB dangles possibility of further action August 18, 2016 The European Central Bank (ECB) has paved the way to unleash further economic stimulus following the UK's shock vote to leave the European Union. The central bank said it was too early to assess the full extent of how the Brexit vote will hit the Eurozone, though it hinted it was considering adopting an even [...]
Revealed: The world’s most liveable cities August 18, 2016 The must-read report for anybody thinking of quitting the capital and starting a new life overseas has arrived. And, for those set on leaving London for good, you could do worse than checking out our Commonwealth friends Australia and Canada for a new place to call home. The Economist Intelligence Unit's annual "liveability report" has [...]
Remove trade barriers to meet green goals, World Energy Council says August 18, 2016 Tearing down barriers to trade and investment in energy would help countries meet their green goals, the World Energy Council has said. The UN-accredited body believes this would speed up the creation of a lower-carbon energy system. It would help countries obtain cheaper, more secure and more sustainable power generation. Read more: Q&A with the World [...]
Political threats could hit fragile global growth August 18, 2016 The global economy is in danger of being blown off course by any number of political risks stalking both advanced and emerging markets, Moody’s warned today. In its quarterly economic outlook, analysts said they expected growth to be stable, if unspectacular, over the next two years, but highlighted a cocktail of threats or "downside risks" – from the [...]
China warns “protectionist” Australia after it blocks investment in energy grid August 17, 2016 Beijing warned over its future willingness to invest in Australia, after two Chinese firms were prevented from taking a controlling stake in its largest energy network. State Grid Corporation, which is a Chinese state-backed firm, and billionaire Li Ka-shing's Hong Kong-based Cheung Kong Infrastructure had submitted bids of more than A$10bn (£5.94bn) for a 50.4 per cent stake [...]
Japanese officials hit the brakes on yen rally August 17, 2016 The Japanese yen has eased back today after a top government official threatened direct intervention if the currency continued to strengthen. The yen broke below ¥100 against the US dollar yesterday as investors continued to flock to the currency, seen as a safe haven because of Japan's low inflation. The dramatic rally over the last [...]
North Korean deputy ambassador to the UK defects with his family to South Korea August 17, 2016 North Korea's deputy ambassador to the UK, Thae Yong Ho, has defected with his family, South Korean officials have confirmed. Yong Ho was a counsellor at the North Korean embassy, which is based in a suburban house in Ealing, and was deputy to the ambassador. The veteran diplomat is thought to be one of the [...]
China gives green light to latest stock market tie-up August 16, 2016 Investors will soon be able to tap in to China's fledgling tech sector with the latest flagship international stock-market tie up set to be launched later this year. The Chinese premier signalled today the long-awaited Shenzhen-Hong Kong Stock Connect had been given the green light by the country's state council, meaning international investors will be able [...]
US Federal Reserve frozen by weak US inflation as price rises slip back August 16, 2016 Inflation slipped back in the US economy in July, further easing the pressure on the US Federal Reserve to hike interest rates. The consumer prices index (CPI) came in at 0.8 per cent in July, on a non-seasonally adjusted basis, in figures released by the US Bureau of Labor Statistics this afternoon. That was down from [...]
Downgrades outpace upgrades by three-to-one in the sovereign credit ratings game August 16, 2016 Governments across the world are becoming riskier to lend to, according to an analysis of sovereign credit ratings. Research by IHS Global has shown the number of downgrades outpaced upgrades by a ratio of three-to-one in the second quarter of the year, as low commodities prices hurt emerging markets and Brexit led to the UK [...]