EU disintegration? Here’s the probability of France’s far right ending the largest civilization project of the 20th century

With Marine le Pen transforming her National Front (NF) into a party for the populist era, analysts have been carefully assessing how French elections in May could deal a “severe blow” to the European Union (EU). “It’s difficult to imagine how the European Union could function should such a Euroskeptic (as Le Pen) be at the helm of one if its major economies … It would likely precede its fracturing,” Michael Hessel, political economist at Absolute Strategy Research, told CNBC via telephone. He said that that low voter turnout would be Le Pen’s best hope of securing an unlikely election victory. Continue reading “EU disintegration? Here’s the probability of France’s far right ending the largest civilization project of the 20th century”

Google’s Eric Schmidt: Trump administration will do ‘evil things’

Eric Schmidt, the executive chairman of Google’s parent company, told an audience of Google employees on Thursday that the Trump administration is “going to do these evil things as they’ve done in the immigration area and perhaps some others.” Schmidt’s remarks were made during the company’s weekly meeting at its headquarters in Mountain View, California, on January 26, when reports were surfacing about the sweeping immigration order that President Donald Trump would sign the next day. Continue reading “Google’s Eric Schmidt: Trump administration will do ‘evil things’”

Trump Nominates Judge Gorsuch as His Supreme Court Justice Pick

President Donald Trump nominated Judge Neil Gorsuch on Tuesday night to fill the current Supreme Court vacancy that was left after the death of Justice Antonin Scalia nearly a year ago. Gorsuch, 49, graduated from Harvard Law School and received the prestigious Marshall scholarship to attend Oxford University. He has served on the Colorado-based U.S. 10th Circuit Court of Appeals since 2006 and previously was a clerk for Supreme Court Justices Byron White and Anthony Kennedy. Continue reading “Trump Nominates Judge Gorsuch as His Supreme Court Justice Pick”

Merkel rejects US comments, says Germany cannot influence euro

Chancellor Angela Merkel on Tuesday rejected a U.S. trade adviser’s charge that Germany was using an “undervalued” euro to gain advantage, saying her government had always called on the European Central Bank to pursue an independent policy. “Germany is a country that has always called for the European Central Bank to pursue an independent policy, just as the Bundesbank did that before the euro existed,” Merkel told a news conference with Swedish Prime Minister Stefan Lofven. Continue reading “Merkel rejects US comments, says Germany cannot influence euro”

OPEC achieves 82 pct of pledged oil output cut in January-Reuters survey

OPEC’s oil output is set to fall by more than 1 million barrels per day (bpd) this month, a Reuters survey found on Tuesday, pointing to a strong start by the exporter group in implementing its first supply cut deal in eight years. The Organization of the Petroleum Exporting Countries agreed to cut its output by about 1.20 million bpd from Jan. 1 – the first such deal since 2008 – to prop up oil prices and get rid of a supply glut. Continue reading “OPEC achieves 82 pct of pledged oil output cut in January-Reuters survey”

Trump’s Trade War May Have Already Begun

America’s traditional allies are on the lookout for new friends. They have heard the mantra “America First” from the new president, divining a Trump doctrine: global cooperation last. Europeans have taken note of Mr. Trump’s denigration of the European Union and his apparent esteem for the Russian president, Vladimir V. Putin. In Asia and Latin America, leaders have absorbed the deepening possibility that Mr. Trump will deliver on threats to impose punitive tariffs on Mexican and Chinese imports, provoking a trade war that will damage economic growth and eliminate jobs around the world. Continue reading “Trump’s Trade War May Have Already Begun”

Uber strikes deal with Daimler to add self-driving Mercedes-Benz to fleet

Uber Technologies Inc [UBER.UL] has signed another deal with a major automaker as the popular ride service accelerates efforts to build out one of the world’s first fleets of autonomous vehicles. Uber on Tuesday announced a partnership with Germany’s Daimler AG, maker of the luxury Mercedes-Benz cars and trucks. In the coming years, Daimler plans to incorporate its own self-driving Mercedes-Benz into Uber’s growing fleet of self-driving cars. Uber did not offer a specific timeline. Daimler is the first auto company to join Uber as it opens up its platform for manufacturers to introduce their own self-driving cars. Continue reading “Uber strikes deal with Daimler to add self-driving Mercedes-Benz to fleet”

Trump pushes drugmakers for lower prices, more U.S. Production

U.S. President Donald Trump in a meeting on Tuesday with pharmaceutical executives called on them to manufacture more of their drugs in the United States and cut prices, while vowing to speed approval of new medicines and ease regulation. Trump told them the government was paying “astronomical” prices for medicines in its health programs for older, disabled and poor people and said he would soon appoint a new U.S. Food and Drug Administration leader. Continue reading “Trump pushes drugmakers for lower prices, more U.S. Production”

Bridgewater’s Dalio says Trump’s populist policies could hurt world economy

Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates LP, said he is increasingly concerned about the Trump administration’s “populist” policies that could hurt the world economy. The detrimental effects of these policies could be more powerful than the beneficial effects of Trump’s pro-business policies, Dalio and co-Chief Investment Officer Bob Prince said on Tuesday. “We are now in a period of time when how this balance tilts will be more important to the economy, markets, and our well-beings than normally dominant drivers such as central bank policies,” Dalio and Prince said in a note. Continue reading “Bridgewater’s Dalio says Trump’s populist policies could hurt world economy”

U.S. President Trump poses grave risk to world trade: French Finance Minister

U.S. President Donald Trump’s administration poses a grave risk to international trade and Europe will have to stand up to him to prevent the collapse of global economic institutions, French Finance Minister Michel Sapin said on Tuesday. “Our American partner appears to want to take unilaterally protectionist decisions which could destabilise the whole world economy,” Sapin said in a speech to an audience of international economists gathered at the French finance ministry. Continue reading “U.S. President Trump poses grave risk to world trade: French Finance Minister”