Break news

European markets decline as investors assess economic data and interest rates

European markets decline as investors assess economic data and interest rates

European markets fell on Friday, with trading characterized by volatility as investors processed new economic indicators and the implications of potential interest rate cuts following remarks by US Federal Reserve Chairman Jerome Powell. By mid-morning, the pan-European Stoxx 600 index was down 0.43%, reflecting mixed performance across major stock exchanges and diversified sector results. Technology stocks suffered a notable decline of 1.82%, while sectors such as mining, oil and gas posted gains of more than 1%. Among decliners, Nordic Bavarian fell sharply, plunging 16% after announcing a drop in third-quarter revenue attributed to fluctuating demand for its vaccine. This decline…
Read More
François Hollande emphasizes European unity amid U.S. protectionism

François Hollande emphasizes European unity amid U.S. protectionism

Former French President François Hollande underlined the need for Europe to maintain unity in the face of growing US protectionism, especially regarding security and trade issues. His comments came shortly after Donald Trump's election victory, which raised concerns about potential economic challenges for the European Union, particularly his threat to impose a 10% tariff on European nations. This comes as Germany, a key economic hub for the region, grapples with economic hardship and political instability following the collapse of its coalition government. Additionally, there are growing concerns about the ongoing conflict in Ukraine and the possibility that the United States…
Read More
U.S. inflation rises as markets react to economic data

U.S. inflation rises as markets react to economic data

On October 3, 2024, the Federal Reserve building in Washington was the backdrop for the latest developments in US economic indicators. This report is part of CNBC's Daily Open, designed to inform investors around the world about major market updates. To stay informed you can sign up to the newsletter. Highlights American inflation trend upwardsIn October, the overall inflation rate in the United States reached 2.6%, in line with market expectations. Core inflation, which excludes food and energy price volatility, remained stable at 3.3%. This overall figure exceeds the Federal Reserve's target, potentially complicating its monetary policy easing plans. Mixed…
Read More
Fed’s interest rate outlook may shift with Trump’s tariff plans

Fed’s interest rate outlook may shift with Trump’s tariff plans

Former Federal Reserve policymaker Loretta Mester has indicated that the US Federal Reserve may implement fewer interest rate cuts than previously expected next year, particularly if President-elect Donald Trump's proposed global tariffs are implemented. Speaking at UBS's annual European conference in London, Mester stressed that the Fed's monetary policy will be significantly influenced by the fiscal strategies of a future Republican administration. Mester noted that the market's revised expectations for interest rate cuts may actually be correct, suggesting that the number of cuts may be fewer than the four previously expected. “Next year, the pace of cuts will be influenced…
Read More
Neel Kashkari addresses Trump’s tariff proposals and their potential impact on inflation

Neel Kashkari addresses Trump’s tariff proposals and their potential impact on inflation

Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis, recently shared his views on the potential implications of President-elect Donald Trump's tariff proposals during a session at the 2024 Milken Conference. Speaking on CBS' "Face the Nation," Kashkari expressed concern that these tariffs could exacerbate long-term inflation if they provoke retaliatory measures from global trading partners. Kashkari pointed out that while one-off tariffs may not have a significant impact on inflation in the long run, the situation becomes more complex if countries engage in tariff imposition on each other. He noted: “The challenge becomes, if there is…
Read More
The race for the 2026 Grand Prix: A look at the contenders and implications

The race for the 2026 Grand Prix: A look at the contenders and implications

As Formula 1 looks to 2026, competition for hosting rights is heating up, with four circuits vying for contract extensions. Countries such as Thailand and South Korea have submitted bids, while nations such as India and Rwanda are working diligently to improve their infrastructure to secure a place on the prestigious F1 calendar. The stakes are high, not only for sport but for the economies of the countries involved. F1 CEO Stefano Domenicali underlined the intensity of the application process, stressing that the interest in hosting a Grand Prix transcends sport. “We are getting calls from prime ministers and governments…
Read More
Uncertainty surrounds Donald Trump’s second presidency

Uncertainty surrounds Donald Trump’s second presidency

The future of Donald Trump's second term remains uncertain, but his first administration was characterized by a strong focus on business-related issues, according to Joe Kaeser, a prominent German business leader. In a recent interview with CNBC, Kaeser, who chairs the supervisory board of Siemens Energy, reflected on his experiences during Trump's early presidency. Kaeser noted that the Trump administration has been very responsive to businesses' concerns. “During that time, if I had a problem to solve for my company, the administration was extremely responsive,” he shared with CNBC's Annette Weisbach. Having served as CEO of Siemens when Trump was…
Read More
Kamala Harris responds to Mike Johnson’s comments on CHIPS Act repeal

Kamala Harris responds to Mike Johnson’s comments on CHIPS Act repeal

On March 7, 2024, ahead of President Joe Biden's State of the Union address, Vice President Kamala Harris addressed remarks made by House Speaker Mike Johnson regarding the potential repeal of the CHIPS and Science Act. Speaking to reporters in Milwaukee, Harris expressed her concerns about Johnson's comments, which she saw as a reflection of former President Donald Trump's broader agenda, known as Project 2025. Harris pointed out that this is not the first time GOP leadership has suggested dismantling key legislation, referencing their previous efforts to eliminate the Affordable Care Act. She pointed out that the CHIPS Act, passed…
Read More
Kemi Badenoch named new leader of the Conservative Party

Kemi Badenoch named new leader of the Conservative Party

On 2 October 2024, Kemi Badenoch was elected as the new leader of the British Conservative Party, marking a significant change in the party's direction after a major election defeat. Badenoch, who previously served under former Prime Minister Rishi Sunak, successfully defeated Robert Jenrick, receiving 53,806 votes to Jenrick's 41,388 in a contest characterized by intense competition and tactical voting among Conservative Members of Parliament (MP). Voter turnout for the leadership election was 72.8%. In his maiden speech as leader, Badenoch expressed his gratitude for the role, stressing the need for the party to recognize its past mistakes and adapt…
Read More
Airfare to Europe Drops as Competition Grows

Airfare to Europe Drops as Competition Grows

As of June 28, 2024, flights between the United States and Europe are seeing the lowest prices in three years, coinciding with a period in which many countries have eased COVID-19 restrictions. This trend is particularly evident during the typically slower autumn and winter months, outside of major holidays. Current price trends Average fares for transatlantic flights to Europe in November are $578, down from $619 a year earlier, according to flight tracking firm Hopper. This is the lowest fare for November since 2021, when prices were $479 amid a significant decline in international travel due to the pandemic. Looking…
Read More