International Economic
JP Morgan model puts odds of recession in next 2 years at over 50%
The odds that the US economy will slide into a recession in 2019 are high, standing at about roughly 28%, according to the results of a model used by JP Morgan.
EU deems Italian budget 'unacceptable', bond yields spring higher
The European Commission sent a letter to Rome on Thursday, querying authorities about the assumptions for economic growth underlying their budget proposals.
Europe close: Stocks drop after Commission queries six states on fiscal plans
Stocks across the Continent retreated on Thursday, with investor sentiment souring following the release of a 'hawkish' set of US central bank meeting minutes the day before.
Santander next bank in line in German tax evasion probe
Spanish bank Santander is the latest bank to come under scrutiny from German prosecutors' probe into alleged tax evasion practices which may have cost the government around €10bn.
Tariffs will take toll on US economy, warns UBS
A tricky period lies ahead for the US, warned UBS, as Donald Trump’s trade war with China begins to exert a sizeable but passing influence on an economy enjoying multi-decade lows in unemployment and undergoing monetary tightening.
Russian rouble steady despite hawkish Fed minutes
Russia's rouble was recovering from earlier weakness triggered by what analysts labeled a 'hawkish' set of US central bank meeting minutes.
US initial unemployment claims hold near record low
US jobless claims dipped last week, holding near their record lows.
Philly Fed index dips less than expected in October
Manufacturing conditions in the Philadelphia region deteriorated less than expected in October, according to a survey released on Thursday.
US could force UK to discard post-Brexit trade deal with China
The UK could be forced to choose between the United States and China when striking trade deals after Brexit, according to reports.
UK mulls 'new idea' to extend Brexit transition period
Theresa May said she is open to negotiating a longer Brexit transition period to allow more time to agree to a solution with the EU about the Irish border, with a feared potential cost of £12bn to £15bn.
US to quit Universal Postal Union; treaty gives China unfair advantage, says White House
US President Donald Trump has fired the latest salvo in his increasingly bitter trade war with China by announcing plans to pull out of the United Nation’s Universal Postal Union.