Political News
Monetary policy may not be ideal tool against trade disruptions, Fed's Powell says
Monetary policy might not be the best tool to address the impact of trade wars, although it might help to offset some of their effects, which might prove to be transitory, the head of the world's most important central bank, the US Federal Reserve, said.
France, Ireland threaten Mercosur veto over Amazon fires
France and Ireland said they would oppose an EU trade deal with South American nations if Brazil failed to tackle fires that are currently raging through the Amazon.
Mattarella gives PD and M5S until Wednesday to form a coalition
Italian President Sergio Mattarella has given rivals the Democratic Party and the Five Star Movement until Wednesday to form a new coalition government or face elections in October, unless Five Star leader Di Maio accepted the last minute offer from the League party to take the premiership in exchange for a reconciliation.
Pound snaps higher as Macron backs month of Brexit talks
The pound snapped higher on Thursday afternoon after France's President, Emmanuel Macron, added his weight to proposals from the day before to try and find a solution to the Irish Backstop question over the next month and avoid the UK falling out of the European Union without a withdrawal agreement.
UK must cut down on car use to meet carbon emissions targets
Members of Parliament have said on Thursday that Britons will have to cut down on the use of their cars if the country is to meet its carbon emissions targets for 2030.
China vows retaliation against any US wrong tariff action
China's Commerce Ministry said on Thursday that it hopes the United States will stop its wrongful tariff actions, warning that Beijing would retaliate for any new levies.
Facebook's Libra under investigation in EU antitrust probe
European Union antitrust regulators have kicked off a probe on Facebook’s cryptocurrency Libra project reported Bloomberg.
HS2 put under review, decision promised by year-end
The future of the HS2 high-speed rail project was thrown into some doubt on Wednesday, as the government announced a review with the promise of a “go or no-go” decision by the end of the year.
Bank to cut rates by 50 basis points after 'no deal' Brexit, Barclays says
The Bank of England would most likely be forced to cut rates again before the middle of next year after Britain leaves the European Union without a deal, leading to a jump in prices that would wallop the economy.
Mattarella to start multiparty talks to study new ruling coalition
Italian President Sergio Mattarella is set to begin two days of talks with the leaders of the country's various political parties on Wednesday to try and reach an agreement regarding a new ruling coalition and thus avoid having to call fresh elections.
Trump puts off state visit to Denmark after Greenland bid rejected
US President Donald Trump postponed a meeting with Denmark’s PM Mette Frederiksen scheduled for 2 September following her rejection of Trump’s bid to purchase Greenland.
FX round-up: Pound edges higher following remarks by German Chancellor
Sterling edged higher in a risk-off session on Tuesday after German Chancellor Angela Merkel appeared to open the door to a compromise solution on the Brexit backstop.
Pompeo says Hong Kong violence would make China trade deal 'more difficult'
US Secretary of State Mike Pompeo on Tuesday warned Beijing that a violent crackdown on protests in Hong Kong would make a trade deal between the US and China "more difficult".
Italian PM Giuseppe Conte resigns amid political crisis
Italian Prime Minister Giuseppe Conte resigned on Tuesday in the latest phase of the country's political crisis following Matteo Salvini’s grab for power.
Johnson calls for Irish Brexit backstop to be scrapped
UK Prime Minister Boris Johnson repeated his call to scrap the backstop plan for the Irish border, describing it as "anti-democratic" in a letter to European Council President Donald Tusk.
Boris Johnson plans information campaign ahead of no-deal Brexit
The UK government will kick-off an information campaign in September aimed at preparing the British public for a no-deal Brexit.
Italian coalition set to collapse as Salvini's rivals respond to attempted power grab
The coalition agreement holding the Italian government together was set to collapse after League party leader and Italian Deputy Premier Matteo Salvini's partners reacted to his push for power.
US Commerce Department set to renew temporary Huawei license, Ross says
The US Department of Commerce will extend its temporary general licence for Chinese telecommunications equipment giant, Huawei, for another 90 days.
Trump backs US tech giants in protest against French tax
Trump has offered his support to America's largest technology companies in their fight against France's proposed new tax on them.
Iranian oil tanker leaves Gibraltar under new name
The Iranian oil tanker detained in Gibraltar left territorial waters on Sunday apparently heading for Greece and having changed its name, according to ship tracking data.