LONDON: European stock markets were mixed on Monday (Sep 9) after China unveiled fresh stimulus measures and below-par US jobs data reinforced expectations the Federal Reserve would cut interest rates this month.London equities fell sharply as the pound rose on official data that showed the British economy grew by 0.3 per cent in July, reducing the likelihood of a UK recession this year as Brexit looms large.Sterling's gains were curbed later in the day when House of Commons speaker John Bercow said he would step down within weeks.Widely known for bellowing "Order! Order!" during unruly Brexit debates, Bercow has been a colourful, if controversial figure amid the chaos.Commenting on bitter rows between the government and MPs, Bercow said: "We degrade this parliament at our peril."Over in New York meanwhile, the Dow had gained 0.3 per cent in midday trading.Elsewhere, the euro wavered as dealers mulled speculation that the European Central Bank could decide this week to loosen monetary … [Read more...] about European stock markets mixed on Chinese stimulus, stronger pound
European common market
Risking it all in the name of the people Imagine a crisis in which the Philippines was deeply divided over the issue of whether and how to leave an economic and political common market that has brought peace across much of the continent (just as Asean aims to be), even though doing so would mean the nation itself would collapse. Imagine that because the people of the Visayas were intent on remaining in the regional group and because the hard-won peace agreement in Mindanao were dependent on the lack of a border between Mindanao and the rest of the Philippines (it is) the integrity of the nation and peace itself were at risk. Imagine then, that ONLY the members of the ruling party chose a leader for the entire country that is determined to abandon the regional group with or without an agreement that might ease the transition. This is the extraordinary catastrophe facing the people of the United Kingdom in an epic political struggle that’s just taken … [Read more...] about Risking it all in the name of the people
Mr Castaignet says the programme is a good fit for digital nomads in Thailand. The small European nation of Estonia is looking to expand its global influence through an "e-residency" programme, allowing anyone worldwide to apply to become an e-resident of the country and set up a company there. This would mean that people outside the EU could set up an Estonian company over the internet and gain easy access to the European market. E-residents of the Baltic country have access to all the digital government services of a state that prides itself on being a pioneer of e-government. E-residency must be applied for at an Estonian embassy, which is a barrier for potential Thai applicants, as the closest are in Beijing or Singapore. But, according to Arnaud Castaignet, the head of international public relations of Estonia's e-residency programme, the country is planning to open an e-residency centre in Bangkok soon. "We are targeting Thailand because it is a major tourism … [Read more...] about Estonia expanding e-residency scheme
Will Trump murder the 10-year bull market? Since Trump’s May 5 tweet, markets were buffeted by sharp downturns and spikes in volatility. Hope turned to despair as negotiations with China broke down, prompting Trump to implement sweeping tariffs. Many feared that Trump’s latest actions may put the bull market’s longevity to the test. Unfortunately, it turned out that Trump was just getting started. “TARIFF is a beautiful word indeed” – Trump To justify his penchant for using tariffs as his primary tool to deter bad behavior of other countries, Trump tweeted the following on June 1, 2019: “When you are the “Piggy Bank” Nation that foreign countries have been robbing and deceiving for years, the word TARIFF is a beautiful word indeed! Others must treat the United States fairly and with respect – We are no longer the “fools” of the past!” Trump imposes tariffs on Mexico over illegal … [Read more...] about Will Trump murder the 10-year bull market?
BENGALURU -- Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation. While that is largely reflected in bond markets, with major sovereign bond yields falling this year, global equities have rallied, and the S&P 500 index is near record highs after its best start this year in more than three decades. One striking conclusion from the latest surveys of over 500 economists from around the world, covering more than 40 economies, was not just a toning down of the economic outlook, but a clear shift away from long-held optimistic views. Although economists who answered an additional question were split on whether a deeper global economic downturn was more likely than a synchronized rebound, this year's growth outlook was downgraded or left unchanged for 38 of the countries polled. "The recent weakness of global … [Read more...] about News Global tightening cycle over, slower ride for growth ahead: poll