Market News

Theresa May’s government acknowledged that the UK economic outlook is deteriorating and unexpectedly set aside an extra GBP 3 billion to prepare for all Brexit outcomes. In his opening Budget speech in Parliament on Wednesday, Philip Hammond who is the Chancellor of the Exchequer …

Venezuela is suffering from defaults on more than $60 bn of international bonds after missing several interest payments. S&P Global Ratings declared Venezuela to be in default after it missed two interest payments on its debt.

Trump is on an eleven day trip in Asia where this week he visited Japan, South Korea and China. On his first stop he warned the nations against challenging the US and said he will push for freedom in the region and for fair trade in his meetings with other leaders.

At least eight people were killed and several more were seriously injured when a suspected terrorist ploughed a truck down a bicycle path in lower Manhattan blocks from the site of the World Trade Center before an officer shot and arrested him.

On Thursday in an ECB meeting policy makers decided to scale back bond buying to EUR 30 billion a month starting from January to September 2018. This is a step towards ending a program that has spent more than EUR 2 trillion trying to revive the euro-area inflation. This will take the ECB holding to a total of at least EUR 2.55 trillion.

European leaders have met this week in Brussels. Brexit is not the biggest talking point to be discussed as focus will be turned to other topics and challenges such as the situation in Spain, the relations with Turkey and the Iran Nuclear deal, French Trade Brake, North Korea and Migration Money, Russian Gas Pipeline and the future of the EU.

The Catalonia secessionist leader Carles Puigdemont on Monday faced increased pressure to abandon plans to declare the region’s independence from Spain. France and Germany have expressed their support for the country’s unity.

At least 59 victims were dead and 527 were injured in the deadliest mass shooting in modern US history. All this happened in an outdoor music festival in Las Vegas Nevada. The gunman identified as Stephen Craig Paddock, a 64 year old retired accountant from Mesquite Nevada killed himself before officers went in.

German Chancellor Angela Merkel won her fourth term in a vote that saw her party taking its lowest share of votes since 1949. She spoke about building a coalition government a day after her win.

The earthquake struck on 19 September 2017 with a magnitude estimated to be 7.1 and strong shaking for about 20 seconds, approximately 55 km south of the city of Puebla. It caused damage in the Mexican states of Puebla, Morelos and the Greater Mexico City area, including the collapse of more than forty buildings.

After tearing through a chain of Caribbean islands hurricane Irma was on track to wreak havoc in Florida last week. Leaving at least 21 people dead and thousands homeless across the Caribbean the damage bill forecast is as much as $200 billion.

Trump has decided to end a program that prevents the deportation of immigrants illegally brought to the US as children. The group is known as Dreamers. Attorney General Jeff Sessions announced the decision of Donald Trump to end the Deferred Action for Childhood Arrivals known as DACA program and called it “an unconstitutional exercise”.