Choosing to buy the Japanese yen as protection against a potential trade war is “pretty peculiar,” one wealth manager told CNBC Monday. The Japanese currency has been mostly on the rise against the U.S. dollar as investors look for a safe haven amid fears of a global trade war. On […]
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Italy’s populist parties could form a government that leaves Berlusconi out in the cold
Italy’s two populist parties have shown they can find common ground in the first test of a possible political alliance, but experts believe a coalition government formed of Lega (League) and the Five Star Movement (M5S) would ultimately have a “short shelf life.” The two parties’ leaders managed to come […]
At least 53 die in Russia shopping mall fire
At least 53 people were killed by a fire in a shopping mall in the Siberian city of Kemerovo, Russia’s Emergency Situations Ministry said on Monday. The fire, one of the deadliest in Russia since the breakup of the Soviet Union, swept through the upper floors of the mall where […]
Egyptians vote in presidential election but Al-Sisi has only one rival
Egypt votes on Monday in a presidential election set to deliver an easy win for incumbent Abdel Fattah al-Sisi, with turnout the main focus after opposition figures complaining of repression called for a boycott. While many Egyptians see the U.S.-allied former general, as vital to stability in a country where […]
Trump reportedly considers expelling Russian diplomats over UK poison attack
President Donald Trump is considering the expulsion of some Russian diplomats in the United States in solidarity with Britain over the poisoning of a former Russian spy in England, a source familiar with the situation said on Sunday. The move may be contingent on how European capitals respond to the […]
Hold the trade war talk: The EU and China know they must cut excessive surpluses with the US
The U.S. wants to negotiate trade issues with the European Union and China despite the fact that they ignored, for more than a year, Washington’s constant warnings about unacceptably large surpluses on their American trades. In doing so, China and a Germany-led EU have put themselves in an economically and […]
Tell us what you think: How do you view stocks this Easter?
Global markets sold off last week after investors became concerned that the tit-for-tat rhetoric from Beijing and Washington may lead to an all-out trade war between the world’s two economic powerhouses. On Friday, the Dow Jones industrial average closed in correction, down 11.6 percent from its 52-week high. The sell-off […]
Remington, the oldest gun maker in the United States, files for bankruptcy
After 202 years in business, America’s oldest gun manufacturer, Remington, has filed for Chapter 11 bankruptcy protection. The filing by Remington Arms Company and its parent, Remington Outdoors, was disclosed late Sunday night on the website of the United States Bankruptcy Court in Delaware. Details of the filing were not […]
US-China trade deficit is set to keep on rising, Yale’s Stephen Roach says
Washington’s trade imbalance with Beijing — the stated motivation behind President Donald Trump’s punitive tariffs — will continue expanding in the years ahead, according to Yale University’s Stephen Roach. America’s trade deficits with China and other countries fundamentally reflect “the fact that we don’t save enough,” said Roach, a former […]
China is a ‘tremendous’ opportunity, says Manulife chief
China presents a major opportunity for global insurers as the rapidly growing economy opens up amid low insurance penetration rates, Manulife’s president and CEO said on Monday. The world’s second-largest economy is at “a very nascent stage of its development as it relates to the industry that we operate in: […]