General election before Brexit could cause another crash: strategist

Many political commentators have argued that the U.K. should hold a general election to determine which party leads the country through the Brexit process. Although Theresa May held onto her leadership in a no-confidence vote on Wednesday, the likelihood of securing a Brexit deal before the March 2019 deadline is uncertain after the cancellation of…

Europe’s got a lot to deal with right now

No mention of the U.K., or European Union, seems possible these days without mentioning the dreaded B-word. And never more so than this week as Brexit, and Britain’s political landscape took another unexpected turn. U.K. Prime Minister Theresa May cancelled a key parliamentary vote on the Brexit deal she struck with the EU that was…

Growing fears over global growth hits sentiment

Market focus is largely attuned to a possible economic slowdown over the coming months. It comes after China reported weaker-than-expected retail sales data on Friday. The sector grew at its weakest pace since 2003 in November, with disappointing industrial and domestic demand figures also darkening the Asian giant’s economic outlook. The data underscored the rising…

Euro slips as ECB’s Draghi lowers growth forecast for Europe

Jasper Juinen | Bloomberg | Getty Images Mario Draghi, president of the European Central Bank (ECB), arrives for the ECB rate decision news conference in Frankfurt, Germany, on Thursday, Sept. 13, 2018.  The euro currency has slipped in value after the European Central Bank (ECB) trimmed its growth forecasts for this year and next. The…

Crisis-era stimulus set to end despite growth worries

The ECB’s governing council confirmed what policymakers had been saying since the summer. They will stop expanding quantitative easing (QE) from the end of December — when bond purchases will fall from 15 billion euros a month to zero. At the same time, The asset purchasing program — under which the bank bought more than…

European markets; British PM survives confidence vote, ECB in focus

Market focus is largely attuned to global trade developments, after a flurry of upbeat comments from Washington and Beijing heightened expectations of a comprehensive trade deal. On Wednesday, Reuters reported Chinese state-owned companies had bought more than 1.5 million tons of U.S. soybeans. It was the first major U.S. soybean purchases in more than six…

ECB caught between economic risks and QE exit 

Francois Lenoir | Reuters European Central Bank President Mario Draghi testifies before the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Belgium September 24, 2018.  The European Central Bank President Mario Draghi has to tread a fine line once again as he gives his latest update on euro area monetary policy on Thursday. While…

Theresa May heads to Brussels to debate Irish border with EU leaders

The Irish border issue has been around since Brexit talks first started 18 months ago, but it’s only recently emerged as a widely recognized crucial element of negotiations. Still, the E.U. is unlikely to change its stance on the matter. “We know that the E.U. will not renegotiate but they may offer some clarifications or…

Revolut secures European banking license

Seb Daly | Web Summit | Getty Images Nikolay Storonsky, chief executive of Revolut, on stage at the MoneyConf fintech event in Lisbon, Portugal. U.K. financial technology firm Revolut secured a big victory on Thursday in its quest to shake up European banking. Revolut announced it was granted a banking license by the European Central…