Macron expected to promise economic change but is it too late?

Macron expected to promise economic change but is it too late?

Barcroft Media | Barcroft Media | Getty Images PARIS, FRANCE – NOVEMBER 24: The french gilets jaunes protest turns out to be a revolution against President Macron today as thousands riot on the Champs Elysees on November 24, 2018 in Paris, France. PHOTOGRAPH BY Kiran Ridley / Barcroft Images (Photo credit should read Kiran Ridley / Barcroft Media via Getty Images) One coordinator of the “yellow vest” protests, Thierry Paul Valette, told reporters on Saturday…

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European markets open lower amid global growth worries and trade tensions

European markets open lower amid global growth worries and trade tensions

Investors are increasingly concerned about a possible economic slowdown, shortly after the U.S., China and Japan all reported weaker-than-expected economic data. It comes at a time when traders are also closely monitoring trade negotiations between Washington and Beijing. U.S. Trade Representative Robert Lighthizer said Sunday that talks between the two sides must reach a successful end by March 1, following conflicting comments about whether a hard deadline had been agreed. Global equity markets were already…

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Germany CDU election: The ‘mini’ Merkel win

Germany CDU election: The ‘mini’ Merkel win

On Friday, delegates from the ruling Christian Democratic Union (CDU) party in Hamburg elected Annegret Kramp-Karrenbauer, known as ‘AKK’, as the new leader of the party, replacing Chancellor Angela Merkel. The leadership race showcased the divide inside the party between more conservative circles and those who wanted continuity. AKK, as she is widely called, stands for continuity and she will safeguard the legacy of Angela Merkel, while opposing candidate Friedrich Merz, who garnered 48 percent…

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Huawei reportedly agrees to British security agency’s demands

Huawei reportedly agrees to British security agency’s demands

David Ramos | Getty Images News | Getty Images A logo sits illuminated outside the Huawei pavilion during Mobile World Congress 2015 in Barcelona, Spain. Chinese tech giant Huawei has agreed to a British security agency’s demands in order to protect its interests in the U.K.’s 5G network, according to the Financial Times. The FT reported Friday that Huawei executives met with senior officials from GCHQ’s National Cyber Security Centre this week, where the company…

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Tech start-ups in Europe are trying to help migrants

Tech start-ups in Europe are trying to help migrants

“It seems that a big part of the solution is that we have been targeting asylum seekers and refugees in the very early stage just after they arrive to the country.” She added that Match Made is also scalable and can be used internationally as well. She said they have had a lot of interest from other European countries. Elsewhere, Finnish start-up Funzi has set up a Program for Migrant Integration where projects have been…

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Saudi Arabia and Russia look to impose production cuts

Saudi Arabia and Russia look to impose production cuts

OPEC and its allies are poised to debate the terms of price-boosting supply cuts on Friday, after the influential oil cartel failed to reach a consensus over production policy for the first time in almost five years. The 15-member organization will hold talks with allied oil-producing nations at its headquarters in Vienna, Austria on Friday. It comes after deep divisions in the energy alliance were laid bare at a closely-watched meeting on Thursday, with the…

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May’s Brexit vote could plunge the UK into fresh political chaos

May’s Brexit vote could plunge the UK into fresh political chaos

Assuming the deal is voted down, the margin of defeat is important. Should May lose by around 30, 40 or perhaps even 50 votes then it’s expected she could stand up in Parliament and say she will return to Brussels and attempt to tweak the deal. If slight concessions were agreed with the EU, that could be enough to persuade some U.K. lawmakers to side with May in a second parliamentary vote. One caveat to…

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Economic data in focus as traders track OPEC meeting

Economic data in focus as traders track OPEC meeting

Back in Europe, Germany could be about to find out who is likely to replace Chancellor Angela Merkel as the country’s largest and dominant political party holds a crucial election on Friday. In October, Merkel announced she would not run for the post and has effectively started to wind down her political career. Elsewhere, Denmark’s Danske Bank is scheduled to hold an extraordinary general meeting to elect a new chairman and vice chairman Friday afternoon….

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Huawei CFO arrest sends global chip stocks plunging

Huawei CFO arrest sends global chip stocks plunging

Global chip stocks tumbled on Thursday as the arrest of a top executive at Chinese tech giant Huawei renewed fears of an escalation in U.S.-China trade tensions. Shares of Austrian chipmaker AMS plunged around 7 percent. Switzerland-based STMicroelectronics dropped 4 percent, while the U.K.- headquartered Dialog Semiconductor slumped around 3 percent. The moves in European stocks followed losses in Asia, where shares of Japanese chipmakers Sumco, Tokyo Electron and Advantest each fell around 5 percent….

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US-China trade tensions resurface after Huawei CFO arrest

US-China trade tensions resurface after Huawei CFO arrest

Market focus is largely attuned to the arrest of a top executive at Chinese tech giant Huawei, amid investor concern that the news could derail progress in U.S.-Sino trade talks. Canadian authorities said Wednesday that they had arrested Huawei’s global chief financial officer in Vancouver, where she is facing extradition to the United States. Meng Wanzhou, the daughter of Huawei’s founder, was arrested on December 1, reportedly over the possible violation of sanctions against Iran….

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European stocks fall amid rising trade war fears; Brexit concerns weigh

European stocks fall amid rising trade war fears; Brexit concerns weigh

Europe’s construction and material stocks were among the worst performers, down more than 1.75 percent amid growing trade war concerns. France’s Saint-Gobain sank over 3 percent after J.P. Morgan cut its stock recommendation to “neutral” from “overweight.” Another industry to lead the losses was insurance, which was down 1.75 percent. Looking at individual stocks, Britain’s Hargreaves Lansdown tumbled over 4 percent after Morgan Stanley cut its stock recommendation to “underweight” from “equal-weight.” One of the…

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Germany is about to find out who’s likely to replace Merkel as leader

Germany is about to find out who’s likely to replace Merkel as leader

The divide that’s represented by both candidates is a challenge for the CDU which has lost voters to both the left and right. It is also struggling to manage a fractious coalition government alongside its Bavarian sister party, the Christian Social Union (CSU), and the Social Democratic Party (SPD). The CDU, as well as other parties, have come under pressure from the right-wing Alternative for Germany (AfD) party, which has been gaining in popularity. The…

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Huawei blocked from providing core tech to BT’s 5G network

Huawei blocked from providing core tech to BT’s 5G network

A BT spokesperson told CNBC over the phone that the decision was not a response to any security concerns. However, the U.K.’s spy chief said on Monday that questions remained over Chinese firms’ access to 5G networks. “We need to decide the extent to which we are going to be comfortable with Chinese ownership of these technologies,” MI6 chief Alex Younger told students at St Andrews University in Scotland. The U.K. – along with Canada…

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No deal on car tariffs as White House backpedals, Volvo moves jobs

No deal on car tariffs as White House backpedals, Volvo moves jobs

What looked earlier this week like a resolution to the costly automotive tariff war with China has proven to be little more than a presidential boast. The tit-for-tat trade war with China has been proving costly for the U.S. with signs that some automakers might be ready to move some production and jobs out of the country. That’s why carmakers and car parts manufacturers on both sides of the Pacific were initially buoyed by the…

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Oil markets fear Trump controls production policy

Oil markets fear Trump controls production policy

Oil markets are deeply concerned about the power President Donald Trump has over some of the world’s largest crude producers, energy analysts told CNBC on Wednesday, ahead of a much-anticipated meeting between OPEC and non-OPEC members. The influential oil cartel and its allied partners are gathering in Vienna, Austria, this week, with the aim of reaching an accord to deliver a fresh round of supply cuts. But, even with the oil market near the bottom…

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