News That Matters

Tag: European

European stocks trade higher on hopes of a Fed rate cut; Publicis down 8.5%

European stocks trade higher on hopes of a Fed rate cut; Publicis down 8.5%

Finance
European stocks traded higher on Friday as market players increase their bets the U.S. Federal Reserve will cut interest rates this month.The pan-European Stoxx 600 was up by 0.4% after the opening bell, auto stocks leading the charge with a 1% climb as all sectors except media traded in positive territory.European Markets: FTSE, GDAXI, FCHI, IBEXInvestors digested comments from a top Fed official that suggested the central bank would implement a pre-emptive "insurance" rate cut aimed at averting a major slump in economic growth.New York Fed President John Williams said the Fed should "act quickly" while the economy is slowing and rates are low. "It's better to take preventative measures than to wait for disaster to unfold," he said in a speech Thursday.However, a New York Fed spokespers...
Christine Lagarde resigns from IMF to become president of European Central Bank

Christine Lagarde resigns from IMF to become president of European Central Bank

World
July 16 (UPI) -- International Monetary Fund Managing Director Christine Lagarde submitted her resignation Tuesday to take on a new role as president of the European Central Bank. The French economist replaces outgoing ECB President Mario Daghi, who completes his eight-year term in October. "I have met with the Executive Board and submitted my resignation from the Fund with effect from September 12, 2019," Lagarde said. "The relinquishment of my responsibilities as Managing Director announced previously will remain in effect until then. "With greater clarity now on the process for my nomination as ECB President and the time it will take, I have made this decision in the best interest of the Fund, as it will expedite the selection process for my successor." David Lipton will take over as ...
European elections: Winners and losers across the continent

European elections: Winners and losers across the continent

World
By Lucia Binding, news reporter Europe is seeing a major political shift as the traditional centre-left and centre-right parties were edged out by populist, environmentalist and far-right parties in the European Parliament elections. The far-right gained precedence on Sunday following four days of a polarised vote across the bloc, with parties led by Italy's populist Matteo Salvini and French far-right leader Marine Le Pen becoming among the biggest in the European assembly. As Mr Salvini told supporters at his party headquarters in Milan, "the rules are changing in Europe". Image: Marine Le Pen declares victory over Emmanuel Macron It was also a good night for pro-environment Greens, who are...
Manchester City chairman Khaldoon Al-Mubarak hits back at claims by LaLiga president that Citizens are damaging European football

Manchester City chairman Khaldoon Al-Mubarak hits back at claims by LaLiga president that Citizens are damaging European football

Sports
Manchester City chairman Khaldoon Al-Mubarak has launched a furious defence of the club’s spending and accused LaLiga president Javier Tebas of ‘hypocrisy’.Tebas, said last week that City were damaging European football by driving up player prices with their ‘state sponsored’ cash reserves. Getty Tebas has been very vocal in his criticism of Manchester City’s spending He went onto say that City, along with French giants Paris Saint-Germain of being ‘run off petrol-money, one off gas’. However, Al-Mubarak responded to Tebas’ accusations, telling CityTV: “He talks about how we distorted the market? There is a hypocrisy in this statement that is ironic. “Number one, let’s look at the Spanish league, the time of breaking records on player acquisitions. I mean,