Bloomberg Britons risk pushing up the cost of their vacations if they vote to leave the European Union, Prime Minister David Cameron said in his third warning in three days on how a so-called Brexit would hurt ordinary people in their pockets. An average eight-night, four-person trip to an EU destination would cost an extra 230 pounds ($330), based ...
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EU courts Algerian gas coop in a bid to counter Russian reliance
ALGIERS / Reuters Officials from Algeria, the European Union and energy firms meet in Algiers on Tuesday in an attempt to get their energy cooperation back on track and find ways to pump more gas north again after years of dwindling exports. Algeria is seen as a natural partner for the European Union as it looks to diversify energy supplies ...
Read More »LatAm’s Wall Street veterans draw bond funds
Bloomberg Latin America’s post-populist shift is persuading the world’s biggest emerging-market bond investors to put more money in the region, and there are signs that eastern Europe is paying the price. Franklin Templeton’s $51 billion Global Bond fund nearly doubled holdings in Brazil, Mexico and Colombia to more than 30 percent in the six months to March 31, according ...
Read More »Canada concerned over rising global waves of protectionism
Bloomberg Rising global waves of protectionism are a concern to Canada and underscore the need not to rush ratification of the Trans-Pacific Partnership trade pact, Trade Minister Chrystia Freeland said in an interview in Tokyo on Tuesday. Freeland’s remarks came after she joined Prime Minister Justin Trudeau in meetings with Japanese auto executives. Trudeau will join other global leaders ...
Read More »Scarce sugar forces Coca-Cola in Venezuela that to stop production
Bloomberg Coca-Cola Co. is halting production of sugar-sweetened beverages in Venezuela as the company’s namesake soda pop becomes the latest victim of a lack of raw materials in the cash-strapped country. The iconic drink is the latest to join a group of basic products becoming scarce in a country beset by currency controls, goods shortages and the world’s highest ...
Read More »Brazil education stocks drop on subsidy cut talk
Bloomberg Brazilian education and construction companies dropped on speculation the administration of interim President Michel Temer will seek to cut the social programs they depend on for revenue. Kroton Educacional SA and Estacio Participacoes SA, the country’s two biggest for-profit university operators, were among the worst performers on the Ibovespa stock index after Folha de Sao Paulo newspaper reported ...
Read More »Ireland and China: Trading values
T he Economist recently joined an illustrious group of publications, including the Wall Street Journal, Huffington Post, and South China Morning Post, who have all illustrated a story on soccer in China with a picture of Xi Jinping kicking a soccer ball in Dublin. Only it’s not a soccer ball — in Dublin Xi Jinping was trying his hand ...
Read More »Indian politics is virtually everywhere
Does it matter how many “likes†does your Facebook post gather when you are a powerful politician? Or how many followers do you have on Twitter? It does in India. Dozens of parliamentarians from the ruling Bharatiya Janata Party (BJP) have recently been chastised by their leadership for not being active enough on the Net. This is one of ...
Read More »Deutsche Bank ratings cut on struggle to overhaul
Bloomberg Deutsche Bank AG had its credit rating cut by Moody’s Investors Service, which said the German lender faces mounting challenges in carrying out its turnaround. The bank’s senior unsecured debt rating was lowered to Baa2 from Baa1, Moody’s said in a statement this week. That left the grade two levels above junk. The firm’s long-term deposit rating fell ...
Read More »â€˜Stay tuned’ for better returns, says Morgan Stanley
Bloomberg Morgan Stanley Chief Executive Officer James Gorman sounded a positive note about the Wall Street bank’s business, telling investors to “stay tuned†for better performance as markets recover. Speaking to Bloomberg Television in Beijing, where the firm is hosting its China summit, Gorman said a 6 percent return on equity in the first quarter was in “a very ...
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