World & Politics
UK urges EU to keep free access for goods and services - 08/22/2017
Against the backdrop of protracted negotiations on conditions of Brexit, the British authorities are calling to eliminate trade barriers for goods, permits for which were received before the official Brexit announcement date. London also counts on maintaining access to markets and service providers, given they are part of a supply contract. Brussels takes a similar position, but before discussing...
What will happen if China deregulates yuan - 08/21/2017
By some miracle, China managed to calm the storm, which threatened to send its currency to the bottom. This year, the yuan rose by 4%, and the country's currency reserves increased by $ 70 billion. Local media even suggested weakening control over the movement of capital and the exchange rate. Yet, to do so is like stopping taking medicine at the first sign of improvement. Alas, the complete...
Spanish authorities: the Barcelona terror attack is not an isolated act - 08/18/2017
Law enforcement authorities of Spanish Catalonia came to a conclusion that the terrorist attack in Barcelona is associated with a similar attack in the coastal Catalan city of Cambrils, which occurred on the night of Friday. Moreover, presumably at least one large-scale attack did not take place only by a fluke. According to the investigation’s version, terrorists tried to make a homemade bomb in...
IMF: Debt boom in China can lead to new financial crisis - 08/17/2017
China's economic growth is too dependent on credit now, and because of this, the country may suffer from a new financial crisis, the International Monetary Fund fears. The Fund improved the forecast for the growth rates of the second world economy. According to the IMF, China's GDP will grow by 6.7% this year, and will accelerate to 6.4% in the next. The forecast’s previous version assumed an...
Trump refuses advice from US business leaders - 08/17/2017
Donald Trump said in his tweet that he was disbanding the two advisory groups under the White House, which include American business leaders. "Instead of putting pressure on entrepreneurs in the production council and in the business strategy and policy council, I am closing them. Thank you all! " - wrote the US president. A few minutes before that, Bloomberg reported that the board of...
The UK is ready for an interim customs union with the EU - 08/15/2017
Today, the British Department for Exiting the European Union announced a new project of creating a temporary customs union with the EU during the transitional period after Brexit. The document also contains two options for long-term trade agreements, which will enter into force after the transition period is over. On the eve of the next round of negotiations on the withdrawal of the UK from the...
Cote d'Azur is no longer attractive for millionaires - 08/14/2017
In August, the largest, most expensive and most generous yachts in the world usually gather on the Cote d'Azur, a place for rich and famous. However, Quai des Milliardaires is unusually quiet this summer, say local residents. They said that overregulation, taxes and high fuel charges prompted the rich to choose Spain or Italy. Three local politicians wrote an open letter to French President...
Dudley from the Federal Reserve Bank of New York expects US GDP growth and inflation - 08/11/2017
President of the Federal Reserve Bank of New York, William Dudley, voiced a positive outlook for the US economy, the US labor market and consumer price dynamics. He believes that the least protected sections of the country's population can count on support. "According to our forecast, we expect a continued moderate economic growth, further improvement in the labor market situation and inflation...
Elections in Norway sparked a war over the wealth fund - 08/11/2017
Regardless of the election outcome, currency traders will have to act more decisively after the elections in Norway. The next government will have less opportunity to rely on the sovereign wealth fund of $ 980 billion, which is the largest in the world, to support the economy after tightening fiscal rules. According to the rule, expenditures should be limited to 3% of the fund. When the Krone...
Venezuela finds a new partner - 08/09/2017
Nicholas Maduro is trying to convince foreign companies in need to continue working with the company, which he himself called "our favorite PDVSA," Bloomberg writes. This is the state-owned oil company Petroleos de Venezuela SA, which is struggling to cover its debts and reverse the decline in production, which reached a minimum of 14 years in June. But, according to Maduro, there is nothing to...
