Business

UK opposition backs early election in bid to break Brexit logjam

Britain’s Prime Minister Boris Johnson speaks at the House of Commons in London, Britain, October 28, 2019, in this screen grab taken from video. Parliament TV via REUTERS Britain was heading toward its first December election in almost a century after Prime Minister Boris Johnson’s bet on breaking the Brexit deadlock with an early ballot

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U.K. House Prices Remain Stuck in Brexit Stasis, Nationwide Says

Photographer: Simon Dawson/Bloomberg By David Goodman U.K. house prices barely moved this month as the market remained trapped by Brexit uncertainty, according to Nationwide Building Society. Prices edged up 0.2% in October from last month, the mortgage lender said Tuesday. From a year ago, values rose 0.4%, registering sub-1% growth for an 11th month. The

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China accuses US of ‘economic bullying’ over equipment ban

Photo (AP) China on Tuesday accused the U.S. of “economic bullying behavior” after U.S. regulators cited security threats in proposing to cut off funding for Chinese equipment in U.S. telecommunications networks. China would “resolutely oppose the U.S. abusing state power to suppress specific Chinese enterprises with unwarranted charges in the absence of any evidence,” Foreign

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Dubai Faces a ‘Disaster’ From Overbuilding, Top Developer Says

Residential and commercial skyscrapers stand in downtown Dubai, United Arab Emirates | Photographer: Christopher Pike | Bloomberg By Zainab Fattah and Yousef Gamal El-Din Damac chairman calls for construction pause for 1 to 2 years Builder dramatically slashed new developments, Sajwani says Want the lowdown on European markets? In your inbox before the open, every

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EU agrees Brexit delay as British parliament blocks December 12 election

Britain’s Prime Minister Boris Johnson is seen at the House of Commons in London, Britain October 23, 2019. ©UK Parliament/Jessica Taylor/Handout via REUTERS The European Union agreed a three-month flexible Brexit delay on Monday but the British parliament rejected Prime Minister Boris Johnson’s bid to end the political paralysis with a Dec. 12 election. Days

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Somalia is among countries to be affected by volatile Politics and Oil Prices IMF regional outlook report

Photo/Somali Times Political uncertainty and volatile oil prices are hindering economic growth in Somalia among several other countries, according to a new report released Monday by the International Monetary Fund. The IMF’s regional outlook report projects growth to rise just 0.5% in 2019, compared to 1.6% in 2018. Increased activity in the oil and gas

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HSBC profits fall in challenging trade

Photo/AFP / MARCO BERTORELLO HSBC is underperforming in parts of Europe and the United States, as third-quarter profits fell, the lender’s interim chief executive said on Monday, warning also of headwinds including Brexit. The Asia-focused banking giant has been trying to lower costs as it faces the double uncertainties caused by the grinding US-China trade

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EU nations agree to Brexit extension until January 31: Tusk

European Council President Donald Tusk and European Commission President Jean-Claude Juncker (not pictured) hold a joint news conference at the end of the European Union leaders summit dominated by Brexit, in Brussels, Belgium October 18, 2019. REUTERS/Piroschka van de Wouw BRUSSELS (Reuters) – European Council President Donald Tusk said on Monday that the 27 countries

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Arms, Oil and Influence: What You Need to Know About Russia’s First-Ever Africa Summit

The Moscow Times/Valery Sharifullin / TASS President Vladimir Putin hosted the first-ever Russia-Africa summit Wednesday and Thursday in the latest display of Moscow’s efforts to restore its geopolitical foothold on the continent after the fall of the Soviet Union. Amid a deluge of memoranda of understanding and cooperation agreements, Russia clinched a series of trade

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Putin vows to expand economic and security ties with Africa

Russian President Vladimir Putin, center, poses for a photo with leaders of African countries at the Russia-Africa summit in the Black Sea resort of Sochi, Russia, Thursday, Oct. 24, 2019. (Valery Sharifulin, TASS News Agency Pool Photo via AP) Russian President Vladimir Putin is telling leaders at the first-ever Russia-Africa summit that developing economic and

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