Business


Italy hit by market volatility after referendum defeat

The Italian finance minister Pier Carlo Padoan - the favourite to succeed Renzi - stayed in Rome amid the sensitive situation in Italy. The outcome of the referendum on constitutional reforms in Italy has prompted Premier Matteo Renzi to announce his resignation after 2 1/2 years in office.



Palin blasts Trump for Carrier deal

President-elect Donald Trump took a victory lap at the Carrier plant in Indianapolis yesterday - where about 1,100 jobs were saved from being shipped to Mexico - and vowed that other USA companies would pay a steep price if they go ahead with plans to relocate factories overseas.



Mainstream relief as leftist candidate wins in Austria

Austrian voters roundly rejected on Sunday a candidate vying to become the first freely elected far-right head of state in Europe since World War Two, halting at least temporarily the wave of populism sweeping Western democracies. Van der Bellen said: "We see a red white red signal of hope and change goes from Austria to all the capitals of Europe today". Hofer conceded defeat before all ballots were counted, in a message that sought to heal political divisions after a heated one-year ...



Brexit slams brakes on British growth

Britain ramped up its borrowing forecasts on Wednesday as the economy slows in the wake of the Brexit vote, finance minister Philip Hammond said in the country's first budget plan since voters made a decision to leave the European Union.The weaker growth and tighter public finances outlined by Hammond leave Prime Minister Theresa May's government little room to ramp up public spending or make big cuts to taxes to help the world's fifth-largest economy through its EU divorce.Britain will need ...



Italian Banks Need to Be Aggressive

News of Renzi's resignation sent the euro plunging to a 20-month low, close to parity against the dollar, amid fears that Italy's instability will re-ignite a European financial crisis. What was it all about? Roger Helmer, Ukip MEP for the East Midlands, said: "Let's be clear: Italy has voted against the EU". Given the reduced uncertainty and expectation that the Italian status quo will be maintained (Italy has had 63 governments in 70 years), even if we see it as less than ideal, we would ...



Trump meets with president of Taiwan

It is a tricky time for the Republican president-elect to be antagonizing China. The phone call between Mr Trump and Ms Tsai was the first direct contact reported between a United States president or president-elect and a leader of Taiwan since Washington established diplomatic relations with Beijing in 1979.