Markets
United Kingdom election leaves Conservatives hanging as largest party with no majority
Her mandate to pursue any major policy issue has effectively been compromised, including regarding Brexit. The announcement of the elections was met with a universal expectation of impending catastrophe for the Labour Party. These proposals will face fierce pushback, however, from hardcore Euroskeptic backbenchers within the Tory party. Such a strategy might just lead to a more responsible p... [Full Article...]
UK to double length of next Parliament to deal with Brexit
It will join a growing list of high-profile Conservative education policies that have become casualties Theresa May's disappointing general election result and loss of majority. 'This will require substantial amounts of legislation, beginning with the Great Repeal Bill . A two year session of Parliament is unusual but not unprecedented. [Full Article...]
La Liga chief Javier Tebas "positive" of Cristiano Ronaldo innocence
Cristiano Ronaldo wants to re-join Manchester United . United remain one of the clubs with the financial muscle to offer a competitive package for Ronaldo - they are predicting record revenues of up to £570m this year - and his return would be a dream commercial move. [Full Article...]
US Fed raises interest rates, fourth increase since Dec 2015
Other factors can also keep rates low. Among other things, wage growth is slow and falling . On average, Fed members expect one more rate increase in 2017, followed by another three in 2018. This set of conditions is what's known in economics as the "Phillips curve", which purports to show a trade-off between unemployment and inflation. [Full Article...]
GE's Immelt to retire, John Flannery to take over as CEO
The company said John Flannery , the head of GE Healthcare, would replace Immelt as CEO, effective August 1. The company said its board had overseen a succession planning process since 2011. In addition, Chief Financial Officer Jeff Bornstein was named vice chair. "Given the focus by Mr. Immelt on 2018 financial targets, many investors had assumed a CEO change would occur by sometime next yea... [Full Article...]
Britain, EU to begin Brexit negotiations Monday
The announcement was agreed on Thursday between Brexit minister David Davis and the European Commission's chief negotiator Michel Barnier, the ministry said. May's finance minister, Philip Hammond , said on Friday that Britain should prioritise protecting jobs and economic growth . "But let us be clear and organised and once the negotiations have started we should be well aware that it'll ... [Full Article...]
'March Against Sharia' draws counter protest, police presence
In a park near NY courthouse, counter-protesters used air-horns and banged pots and pans to silence an anti-Sharia rally. A similar scene played out in a park near a NY courthouse, where counter-protesters sounded air-horns and banged pots and pans in an effort to silence an anti-Shari rally. [Full Article...]
US Fed raises rates, provokes caution in Indian markets
The Fed raised interest rates for the second time this year, by a quarter percentage point to a target range of 1.00-1.25 percent. Above all else, the rise in interest rate would deal a heavy blow on small and midsize companies including small business owners. [Full Article...]