Germany to add China’s yuan to currency reserves

Germany’s central bank has said it will include China’s yuan in its reserves, giving another boost to Beijing’s drive to internationalise the currency and helping send the unit to two year highs. The Bundesbank said its board had decided in July to invest in the renminbi, as it is also known, to take account of its… Please follow and like us:

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Brexit: will the UK sue the EU?

Brexit minister David Davis has complained in a letter to the prime minister that Brussels is damaging British interests by talking up the threat to companies if the UK leave the EU without a deal. What does the letter say? That Davis has sought legal advice over whether Brussels is breaching Britain’s rights as a member… Please follow and like us:

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World markets ring in 2018 on mixed note

Global stock markets greeted 2018 on Tuesday in mixed fashion, despite a raft of bright manufacturing surveys, with many investors away for extended holidays. Asian stocks mostly kicked off the year with gains, fuelled by strong data, improving corporate profits and hopes that US President Donald Trump’s tax cuts will fire US and world growth. Sentiment… Please follow and like us:

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Brexit-charged inflation bites into Christmas shopping

While shoppers at Nottingham’s Christmas market complain about high prices, nearby volunteers hand out food parcels and retailers seek to dispel Brexit gloom with Black Friday sales. The price of everything “is shooting through the roof and wages are pretty much staying the same, so every month you cut back on a little bit more”, council… Please follow and like us:

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Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Loonie falls sharply The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested… Please follow and like us:

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Lloyds bank braves Brexit with surge in profits

Lloyds Banking Group said Wednesday that its net profit jumped 63 percent in the first nine months of 2017, as the British economy remains resilient in the face of Brexit. LBG in a statement that its bottom-line net profit rose to £2.8 billion ($3.7 billion, 3.1 billion euros) in the period from January to September from… Please follow and like us:

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UK economy stuck in low gear, worries grow as BoE prepares to hike rates

LONDON – Britain’s economy remained stuck in low gear in the third quarter but price pressures grew further, according to a business survey that probably keeps the Bank of England on track to raise interest rates. The IHS Markit/CIPS Purchasing Managers’ Index (PMI) also showed businesses were increasingly worried about the outlook as Britain heads towards… Please follow and like us:

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Yen under pressure because of risk-on; pound catches breath after major up move

Yen under pressure The yen remained under pressure during today’s trading as market participants were more optimistic on the global outlook. The pound retreated after climbing to its post-Brexit high versus the dollar due to some profit-taking. Yen under pressure because of risk-on; pound catches breath after major up move Safe haven plays such as the… Please follow and like us:

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Bank of England eyes rate rise as inflation surges

The Bank of England on Thursday hinted at an interest rate rise in the coming months as a Brexit-hit weak pound sends inflation soaring. Policymakers voted 7-2 to hold the BoE’s main rate at a record-low 0.25 percent — and unanimously to leave unchanged the level of cash pumping around the UK economy to help boost… Please follow and like us:

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British inflation jumps, pushing pound to one-year dollar high

Britain’s annual inflation rate accelerated in August, mainly on rising prices for motor fuels and clothing, official data showed on Tuesday, sending the pound to a year-high versus the dollar. The Consumer Prices Index (CPI) 12-month rate jumped to 2.9 percent in August compared to 2.6 percent in July, the Office for National Statistics said in… Please follow and like us:

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As ECB Tapering Approaches, Populism Across Europe Looms

With a strain of populism spreading across Europe – one that threatens the very existence of the European Union if Marine Le Pen is elected president in France – one antidote for large regional corporations is get bigger or get acquired, a Bank of America Merrill Lynch report notes. With uncertainty in the region the only… Please follow and like us:

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Cost Of Living In U.K. Cities ‘Falls After Brexit’

The cost of living in London has tumbled below that in Tokyo, Paris and New York after the Brexit vote and sits at its lowest level in two decades, a report has found. According to the Economist Intelligence Unit’s (EIU) annual worldwide cost of living survey, which assesses the cost of a basket of over 150… Please follow and like us:

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