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Bloomberg If self-reinforcing recession fears are the greatest risk to the record-long US expansion, as posited by Bank of America Corp. Chief Executive Officer Brian Moynihan, the latest consumer sentiment report hinted that those concerns may be starting to emerge. “We have nothing to fear about a recession right now except for the fear of recession,” Moynihan said in a ...

Bloomberg Germany’s government is ready to run a budget deficit if Europe’s largest economy collapses, magazine Der Spiegel reported. Chancellor Angela Merkel and Finance Minister Olaf Scholz would be willing to increase debt in order to offset a tax revenue shortfall due to an economic slump, the magazine said, citing sources in the chancellery and the finance ministry that it ...

Bloomberg With interest rates on 30-year US debt hitting all-time lows this week, the government is once again considering whether to start borrowing for even longer. The US Treasury Department said that it wants to know what investors think about the government potentially issuing 50-year or 100-year bonds, going way beyond the current three-decade maximum. The government stressed that no ...

Bloomberg For Brits looking to escape the UK in an increasingly wet August, the pound might offer some relief with a recovery against the euro. Sterling ended a record run of losses against the common currency this week and analysts are cautiously optimistic on its near-term prospects. Growing resistance among opposition lawmakers to a no-deal Brexit has led traders to ...

Bloomberg As economic growth falls across Europe, Ukraine may be embarking on an upswing. Data showed expansion in the former Soviet republic surged last quarter, even as US-China trade tensions and a wider global slowdown weighed on most of the continent. The pace — 4.6% — was unexpectedly quick. The World Bank had warned that if growth didn’t top the ...

Bloomberg Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste sees the retailer’s claim for more than $56 million against him as “vague and embarrassing.” The owner of Poundland in the UK and Pep stores throughout Africa said in June it will look to claw back base salaries, bonuses and other incentives paid to Jooste since 2009 because of ...

Bloomberg The Earth is losing its plants and humanity is to blame, according to a new study. Global vegetation growth has been in decline since the late 1990’s, due to changes in the water content of the atmosphere. An atmospheric vapor pressure deficit (VPD), or the difference between saturation water vapor and actual water vapor, was found to stall or ...

DUBAI / WAM An image of the Grand Mosque of Makkah was taken by KhalifaSat on the first day of Eid Al Adha during the Hajj pilgrimage of this year. KhalifaSat was fully developed at the Mohammed bin Rashid Space Centre’s facilities by Emirati engineers and was launched into space in October 2018. It has five patents and seven space ...

RED SEA COAST / WAM The UAE is continuing to normalise humanitarian conditions and improve the living conditions of Yemenis in all liberated governorates, with ERC distributing clothes and food for Eid to needy families living in the Red Sea Coast. ERC representatives said Eid clothes distribution project covers 700 families in Khawkhawh, Hais and At Tuhayta districts, and included ...

ABU DHABI / WAM Emiratis holding diplomatic, special, mission and ordinary passports are now exempt from pre-entry visas to visit South Africa. According to the South African Department of Home Affairs, UAE was added to visa waiver list, with the possibility of UAE citizens travelling to South Africa to stay for a period up to 90 days effective from August ...