A battalion of 14 European banks—including heavyweights BNP Paribas, Deutsche Bank, and ING—have warned that the European Central Bank’s (ECB’s) plan to issue a digital euro will undermine the private sector’s payment system.
Tag: Economy
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OIL DEMAND WILL KEEP RISING UNTIL 2040, OIL MAJOR SAYS
Concerns over energy security, the U.S.’s slower-than-expected switch to electric cars, and political fragmentation exemplified by the current tariff war are among factors that will drive oil demand steadily higher until about 2040, French oil major TotalEnergies wrote in its annual outlook report.
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AI STOCK SURGE SPARKS FEARS OF A BUBBLE IN ASIAN MARKETS
Just six companies deeply involved in the boom in artificial intelligence (AI) technology have driven half the gains in Hong Kong’s Hang Seng stock index this year, according to calculations by the Financial Times.
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EUROZONE SPENDING TICKS DOWN AS CONSUMER SENTIMENT RISES
The amount of goods and services consumers bought among the 20 countries sharing the euro currency ticked down by 0.1 percent in October, despite a survey of consumer confidence that found consumers to be more optimistic than at any time since February.
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TRUMP DIDN’T DELIVER ON ECONOMY, SO VOTERS TURNED TO DEMOCRATS DURING LAST WEEK’S ELECTION
U.S. President Donald Trump failed to deliver on his campaign promise to revitalize the economy for the average American, so voters turned out in last Tuesday’s elections in favor of Democrats, which was seen as a glaring warning sign for Republicans and a viable avenue for Democrats before next year’s Midterm Elections.
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TRUMP’S SUPPORT AMONG YOUNG VOTERS TAKES BIG HIT
President Donald Trump has seen his support among younger voters take a major hit since the beginning of the year, with just 20 percent of those polled saying they approve of his job performance, compared to 75 percent who say they disapprove.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity heavyweights Blackstone and TPG have partnered to buy Hologic, which develops technologies to diagnose and treat health conditions. It specializes in women’s medical concerns.
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SPECIAL REPORT: NEW SANCTIONS ON RUSSIA’S OIL
Last week, Donald Trump hit Russia’s oil industry with the most severe sanctions since Russia invaded Ukraine more than three years ago, the first time his administration has imposed direct costs on the Kremlin.
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TOP TREND 2022, SELF-SUFFICIENT ECONOMIES: CHINA VOWS TO BECOME SELF-SUFFICIENT IN ADVANCED TECHNOLOGIES
On 23 October, China’s top government leaders pledged to speed the country’s progress toward self-sufficiency in cutting-edge technologies as trade tensions with the U.S. continue unabated.
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SPOTLIGHT: BIGS GETTING BIGGER
This year’s third quarter alone “featured the richest stretch of private equity (PE) dealmaking in years,” The Wall Street Journal said, led by the astonishing $55-billion acquisition of game maker Electronic Arts by a coalition of PE firms.