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Latest 24 Hour Economy News
Source: The Guradian

Trump-Russia inquiry: Manafort under pressure after reports that Gates has flipped

Today 17:16 GMT

Donald Trump’s former campaign manager is under increasing pressure to cooperate with criminal prosecutors investigating the campaign’s alleged collusion with the Kremlin following reports that his chief lieutenant will testify against him.

Several US media outlets, including the Los Angeles Times and CNN, reported that Rick Gates, a former campaign aide and lobbyist, has struck a deal with Robert Mueller, the special counsel, and will testify against Paul Manafort, his longtime business associate, in exchange for leniency.

Source: Common Domain

Goldman Sachs raises a red flag over U.S. government spending

Today 17:16 GMT

That’s how a team of economists at Goldman Sachs, led by Jan Hatzius, have described the government’s current spending and tax plans, as they also warned that the growth kick for the economy from those strategies will eventually fade.

Goldman economists expect the U.S. debt level to hit 5.2% of gross domestic product by 2019, and keep climbing gradually from there. In the past, a strengthening economy and rising debt burden has prompted Congress to raise taxes and cut spending.

Source: Common Domain

Why Trump might be open to a 25-cents-a-gallon increase in the federal gas tax

Today 17:16 GMT

President Trump reportedly supports a 25-cent increase in the federal gas tax, but even if a tax-averse Republican Congress balks, most Americans are likely to pay more eventually.

“There is no advantage in raising federal highway revenues rather than the states raising their own,” Cato analyst Chris Edwards wrote in a report last month.

Source: Common Domain

Dollar steadies versus rivals in holiday-thinned trade

Today 17:16 GMT

The dollar was steady to slightly higher against major rivals on Monday, with a holiday in the U.S. giving the worn-down greenback a chance to catch its breath.

The last time something like this happened – when President Bush imposed tariffs on imported steel – USD generally fell,” said Gittler.

Source: DW

Deutsch Bank to clip investment banking wings

Today 17:16 GMT

Deutsche Bank is cutting at least 250 investment banking jobs in locations including London and the United States as it seeks to keep a lid on expenses amid a sustained slide in its securities unit.

Germany's biggest commercial bank was about to lay off at least 250 employees in its corporate and investment banking division, the news agency Reuters reported Monday. Quoting a person familiar with the matter, Reuters said that the total number of job losses could rise to as many as 500, mainly affecting senior and mid-level investment banking positions.

Source: Common Domain

Vanguard investors kept their cool during stock-market turmoil

Today 17:16 GMT

According to the asset-managing giant, which has taken in massive inflows in recent years as investors flock to passive investment strategies, its clients kept their wits about them in the recent turmoil on Wall Street, which saw the Dow Jones Industrial Average DJIA, +0.08%  and the S&P 500 SPX, +0.04%  last week enter correction territory for the first time in about two years.

The founder of Vanguard, who has long advocated that investors take a simple approach to their portfolios by buying low-fee index funds and holding them for the very long term, seems to have taught his lesson well.

Source: Common Domain

Reinsurers Hit by Catastrophe Losses, Rising Competition

Today 17:16 GMT

Irma and an extraordinary string of other natural disasters in 2017 saddled insurers and reinsurers globally with more than $135 billion in losses, according to Munich Re ’s MURGY -0.88% 2017 Natural Catastrophe Report.

The main reason for reinsurers’ loss of pricing power is growing competition, which has come in part from insurance-linked securities such as catastrophe bonds. Such bonds essentially package insurance risk as debt that doesn’t have to be repaid in full or at all if a disaster stipulated in the bond’s contract strikes.

Source: CBS News

Stock swings making you woozy Better get used to it

Today 17:16 GMT

"So the odds of a more leisurely-paced bull market are now the greatest of the three scenarios, at 45 percent," Yardeni said.

Despite the recent market swings, the U.S. remains in good shape and the global economy "is firing on virtually all cylinders," Quinlan said. For now, he added, stronger economic growth, the tailwinds from tax reform and a currently weak dollar all point to higher corporate earnings.

Source: DW

Warsaw bourse an oasis of calm as global equities slide

Today 17:16 GMT

Set against EU chastisement of Warsaw and volatility in global share prices, the Polish economy and stock market remain oases of calm confidence.

One of the factors that positively influenced the level of turnover on the Warsaw markets in 2017 was the strengthening of  the Polish currency, the zloty. We grew both in euro and dollar terms, have relatively low valuations and impressive macroeconomic performance.

Source: Common Domain

Stronger European Earnings Augur More M&A, Higher Dividends

Today 17:16 GMT

European companies are reporting higher revenues and profits as the continent benefits from the fastest pace of economic growth in a decade, prompting corporate executives to increasingly mull deal making and raise dividend payouts.

Fastest pace of economic growth in a decade boosts companies’ revenues and profits, but strong euro could sap optimism

Source: Fox News

Terror plot to assassinate Israeli defense minister foiled, operatives arrested

Today 17:17 GMT

Israel’s security service, the Shin Bet, revealed Sunday that it had arrested two members of Islamic Jihad terror cell (PIJ) who had been plotting to assassinate Israel’s Defense Minister Avigdor Liberman.

The PA has routinely defended the payments, insisting that they have a “social responsibility to look after innocent people affected by the incarceration or killing of their loved ones.”

Source: Fox News

US Congress sets sights on federal cryptocurrency rules

Today 17:16 GMT

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters.

Much of the concern on Capitol Hill is focused on speculative trading and investing in cryptocurrencies, leading some lawmakers to push for digital assets to be regulated as securities and subject to the SEC's investor protection rules.

Source: The Guradian

Revealed: Cash eclipsed as Britain turns to digital payments

Today 17:16 GMT

Britain will move beyond “peak cash” this year, according to data gathered by the Guardian that suggests notes and coins are rapidly being supplanted as the favoured payment method, particularly in cities.. Debit cards are set to overtake cash as the most frequently used payment method in the UK later this year, according to UK Finance, which represents leading finance and banking firms.

Graham Mott, head of strategy at Link, the UK’s largest cash machine network, said that the number of cash machines in Britain was likely to fall, principally in urban centres.

Source: New York Times

Spending Bill Sets Path to Fix a Looming Pension Crisis

Today 17:16 GMT

The looming collapse of the multiemployer pension system is significant given the sheer number of people affected and the potential for a devastating economic ripple effect: retirees losing the pension checks that keep them afloat and a potential wave of bankruptcies among the companies that once employed those workers.

The strain on the multiemployer pension system carries another risk — the potential annihilation of the Pension Benefit Guaranty Corporation, the government agency that insures pension plans.

Source: DW

Thousands of Berlin residents without internet after attempted bank robbery

Today 17:16 GMT

Robbers tried to immobilize a junction at a street corner in Schmargendorf — a neighborhood between the three affected Berlin neighborhoods — to hinder an alarm system in an attempt to rob the Berlin Sparkasse bank, according to the Berliner Morgenpost.

More than 40,000 residences in threee southwest Berlin neighborhoods lost internet in their households at around early Sunday morning after a major cable was severed, according to multiple reports.

Source: DW

What's in a kiss 12 *fun* facts about kissing

Saturday 16:21 GMT
Source: New York Times

In Colombia Border Town, Desperate Venezuelans Sell Hair to Survive

Saturday 11:49 GMT
Source: BBC

What to expect at the 2018 Bafta Awards

Sunday 17:16 GMT
Source: The Guradian

Saakashvili supporters march in Kiev calling for president to quit

Sunday 17:16 GMT
Source: DW

Bundesliga LIVE: VfL Wolfsburg vs. Bayern Munich

Saturday 15:26 GMT
Source: The Guradian

Hanif Kureishi: my beautiful box-set binge

Saturday 11:49 GMT
Source: The Guradian

Homeland: Claire Danes sulks her way through more relentless catastrophising

Saturday 11:49 GMT
Source: CTV

#BeccaToldMeTo: Teen who inspired kindness movement dies at 18

Today 08:59 GMT
Source: Washington Post

How two GMU professors teamed up to create high-tech music

Today 17:16 GMT
Source: Global News

Trudeau, Sajjan ask to meet with Indian politician who criticized Canadian government

Today 17:17 GMT
Source: Washington Post

Beats, rhymes and ice: Olympians rely on their tunes, and science backs them up

Today 08:59 GMT
Source: Common Domain

The Pride Flag Waves at the Olympics for Adam Rippon

Today 06:05 GMT
Source: NBC News

Celebrate Lunar New Year with dumplings, noodles, meatballs and more

Today 17:16 GMT
Source: DW

Berlin 24/7: The sound of Berlin

Today 06:05 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte