UK banks may have been used for Iran payments related to Huawei: WSJ

UK banks may have been used for Iran payments related to Huawei: WSJ

Jane Wolsak | Reuters Huawei CFO Meng Wanzhou, who was arrested on an extradition warrant, appears at her B.C. Supreme Court bail hearing along with a translator, in a drawing in Vancouver, British Columbia, Canada December 7, 2018. British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal said on Sunday, citing sources familiar with the matter. According…

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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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Zopa, a UK P2P lender, plans more funding in 2019 as it opens a bank

Zopa, a UK P2P lender, plans more funding in 2019 as it opens a bank

U.K. peer-to-peer lender Zopa plans on raising more money in 2019 as it looks to open up its own bank, its boss told CNBC. The financial technology start-up recently obtained a banking license from Britain’s financial regulator, on the back of a £60 million ($76.5 million) funding round it closed last month. “We will be looking to raise additional capital in 2019,” Zopa Chief Executive Jaidev Janardana told CNBC in an exclusive interview. “The focus…

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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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Canada puts on ‘show trial’ for arrested Huawei CFO

Canada puts on ‘show trial’ for arrested Huawei CFO

Canada treated her “as a dangerous criminal” and “violent offender” by restraining her with handcuffs and forcing her to wear ankle restraints following her initial bail hearing, the paper said. “It is hard to escape the conclusion that her treatment is something of a show trial intended to humiliate her and China,” it said. China is regularly accused of violating the human rights of its own citizens who speak out against the government, advocate democracy…

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Abu Dhabi Ports sees ‘huge’ trade boost from Cosco deal

Abu Dhabi Ports sees ‘huge’ trade boost from Cosco deal

Bloomberg | Bloomberg | Getty Images Abu Dhabi Terminals branding is seen on the side of an office atop a ship-to-shore gantry crane at Khalifa Port, operated by Abu Dhabi Ports Co. “We are good allies of all of the countries,” said Al Shamisi, who added that he sees a “huge” import and export potential for the region. Monday marks the inauguration of a 35-year concession agreement between Abu Dhabi Ports and China Ocean Shipping…

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Steven Mnuchin under consideration to be next Trump chief of staff

Steven Mnuchin under consideration to be next Trump chief of staff

Pool | Getty Images News | Getty Images U.S. President Donald Trump, with Secretary of Treasury Steven Mnuchin, displays a signed financial services Executive Order during a ceremony in the US Treasury Department building. Treasury Secretary Steven Mnuchin is one of the advisors to President Donald Trump under consideration to be the next White House chief of staff, according to two people with direct knowledge of the matter. Yet Mnuchin has indicated to his inner…

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China trade data, US-China, currencies trade in focus

China trade data, US-China, currencies trade in focus

China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth. November exports rose 5.4 percent from a year earlier, according to Chinese customs data on Saturday, which was below the 10 percent jump predicted by a Reuters poll. That number was also the weakest performance since a 3 percent contraction in March. The customs…

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Bear market is here, brace for 20% plunge: Ned Davis Research

Bear market is here, brace for 20% plunge: Ned Davis Research

The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. “If you take this as a typical bear market, not associated with a recession, it’s going to take you down around 20 percent — maybe a little bit more,” the firm’s chief U.S. market strategist told CNBC’s “Futures Now” last week. “That’s what we need to be thinking about over…

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90 day pause in US-China trade war is a ‘hard deadline’

90 day pause in US-China trade war is a ‘hard deadline’

Mauricio Valenzuela | picture alliance | Getty Images China’s President Xi Jinping stands at the Cocoli locks in the Panama Canal. China’s head of state and party Xi Jinping was the first president of the People’s Republic of Panama to visit.  U.S. Trade Representative Robert Lighthizer said on Sunday he considers March 1 “a hard deadline” to reach a deal on trade with China, and that new tariffs will be imposed otherwise. “As far as…

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Winter Storm Diego grounds more than 1,400 flights

Winter Storm Diego grounds more than 1,400 flights

Scott Olson | Getty Images News | Getty Images American Airlines aircraft at the gates in O’Hare International Airport, Chicago. Airlines canceled more than 1,400 flights over the weekend, as a wintry storm from Virginia to Florida snarled air travel, with disruptions likely to spill over into the work week. The storm dumped snow and sleet across the Carolinas and Virginia, causing treacherous travel conditions. The storm knocked out power to some 200,000 customers, Duke…

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Google reveals North Bayshore Mountain View development plan 

Google reveals North Bayshore Mountain View development plan 

Google just revealed its vision for a massive development in its home city of Mountain View, California, outlining plans for a combination of office, retail, public and residential space. The documents, published late Friday, center on the North Bayshore area of Mountain View, and include 3.12 million square feet of new and redeveloped offices, up to 400,000 square feet of community retail area, as many as 8,000 new homes and 35 acres of publicly accessible…

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Best companies to work for in Germany in 2019

Best companies to work for in Germany in 2019

Leading software business SAP has been crowned by Glassdoor as the best place for German employees to work during the next year — and it’s not just Germany that SAP is winning over. In Glassdoor’s annual best place to work rankings, the German-based group has made an appearance in five of the lists published this week, including France and the U.K. Reviews on Glassdoor see employees praise the company for the company’s work benefits and…

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France’s Macron to make ‘important announcements’ in coming week, spokesman says

France’s Macron to make ‘important announcements’ in coming week, spokesman says

Andrew Harrer | Bloomberg | Getty Images Emmanuel Macron, France’s president, center, listens as U.S. President Donald Trump, left, speaks at an arrival ceremony during a state visit on the South Lawn of the White House in Washington, D.C., April 24, 2018. French President Emmanuel Macron is set to make a major announcement early in the coming week, his government’s spokesman said on Sunday, following a day of violent nationwide “yellow vest” protests against the…

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Why are markets so volatile? JPMorgan guru thinks ‘fake news’ to blame

Why are markets so volatile? JPMorgan guru thinks ‘fake news’ to blame

“While higher volatility that comes with less monetary support warrants somewhat lower equity valuations, lower risk positioning, higher equity volatility and higher credit spreads, we think that the current divergence is simply too large,” Kolanovic said in the note. “To some extent, we trace the disconnect between negative sentiment and macroeconomic reality to the reinforcing feedback loop of real and fake negative news.” Kolanovic cited a combination of domestic political groups, analysts and foreign actors…

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