Good morning and welcome to Europe Express. The Franco-British fishing row may be somewhat calming down, with the UK’s Brexit minister David Frost in Paris today to speak to officials there before heading up to Brussels for a new round of talks on the Northern Ireland protocol. We’ll dig into the meeting and what’s expected.
Investing
Knowing how interest on savings accounts works can help investors earn as much as possible on the money they save. Interest on a savings account is the amount of money a bank or financial institution pays a depositor for holding their money with the bank. In a way, a bank borrows money from their depositors
In this article WFC Wells Fargo CEO Charles Scharf listens during the Milken Institute Global Conference in Beverly Hills, Calif., on April 30, 2019. Kyle Grillot | Bloomberg | Getty Images Wells Fargo isn’t out of the woods yet when it comes to its regulatory mess. That’s the message the bank sent in its most
China plans to quadruple its nuclear stockpile by 2030, according to a Pentagon assessment that points to a shift in Chinese policy with big implications for the balance of military power. The US defence department said China could have 700 deliverable nuclear warheads by 2027 and would boost its stockpile — currently estimated in the
As she campaigned for Terry McAuliffe, the Democratic candidate for governor in Virginia, last week, US vice-president Kamala Harris told voters that the result would reverberate well beyond their state. “What happens in Virginia will in large part determine what happens in 2022, 2024 and on,” she told the crowds. Now, less than a week
As of today, November 3, 2021, the 30-year fixed mortgage rate is 3.18%, the FHA 30-year fixed rate is 2.98%, the VA 30-year fixed rate is 3.02% and the jumbo 30-year fixed rate is 3.34%. These rates are not the teaser rates you may see advertised online and based on our methodology should be more
© AP The Asian Development Bank is launching a new fund that will buy coal power plants in order to shut them down early, taking a new approach to the energy transition. ADB is launching the pilot fund of $2.5bn to $3.5bn, called the Energy Transition Mechanism, that will focus on buying plants in Indonesia,
“Fries are always a bit disappointing when you get a delivery,” writes chef Thomas Straker on an Instagram post. And so it is one cold Sunday evening that I find myself cooking chips at home from his online tutorial. During the 30-second video, the 31-year-old London-based chef – dressed in a baggy Nike T-shirt –
The random walk theory maintains that individual stocks do not move in any discernible pattern and therefore their short-term future movements cannot be predicted in advance. Since the market indexes overall tend to rise over the long-term, adherents of random walk theory would be likely to recommend investing in a passively-managed diversified index fund. Key
On the Caribbean island of Antigua, builders will soon put hurricane reinforcements on hospital roofs and strengthen the windows on police stations. As climate change makes tropical storms more intense and more devastating, Antiguans are getting prepared. This $46m storm-proofing project is just one part of a much bigger flow of money: a promised $100bn
The valuation of cryptocurrencies has increased dramatically in the past 12 months, as has their adoption by investors around the world — individuals as well as institutions. Until a few years ago, most retail investors would have required the use of a broker or investment professional to handle their investments. Today, consumers flock to apps
It is important for everyone to reset their personal finances and their goals for the New Year. Did you make any resolutions concerning your personal finances last January? If so, how did you do? Did you attain your goals or miss the mark? While the days leading up to New Year’s Eve are often spent reflecting
In this article CAR A customer boards an Avis Budget Group Inc. shuttle bus at the Denver International Airport (DEN) in Denver, Colorado, U.S., on Wednesday, Oct. 28, 2015. Luke Sharrett | Bloomberg | Getty Images Car rental stock Avis Budget surged Tuesday after the company reported a stronger-than-expected third quarter that sparked massive trading
Democrats have reached an agreement on a package of measures to reduce drug prices that would result in the US government negotiating directly with pharmaceutical companies over pricing for the first time. Chuck Schumer, the Senate majority leader, announced on Tuesday that he and his colleagues had agreed to a range of measures designed to
More than 100 global leaders committed on Tuesday to halt deforestation by 2030, while 30 financial institutions promised to eliminate the harmful practice from their portfolios by 2025. In what is being billed as one of the first significant steps of the COP26 summit in Glasgow, leaders from countries that are home to more than
Arbitrage pricing theory (APT) is an alternative to the capital asset pricing model (CAPM) for explaining returns of assets or portfolios. It was developed by economist Stephen Ross in the 1970s. Over the years, arbitrage pricing theory has grown in popularity for its relatively simpler assumptions. However, arbitrage pricing theory is a lot more difficult to apply in practice because
British prime minister Boris Johnson during an Action on Forests and Land Use event on Tuesday after the leaders declaration on deforestation © Getty Images The first day of COP26 in Glasgow brought a late flurry of country and forestry pledges, and the second day promises further declarations on a variety of topics, including a
The author is professor of finance at the University of Chicago’s Booth School of Business Will COP26 deliver? As Queen Elizabeth put it: “They talk, but they don’t do.” The least that should come out of the deliberations is stronger individual country commitments to reduce emissions. Ideally, we would also agree to a global plan
Wages have been a hot topic recently in the United States. Many businesses are advertising $15-per-hour starting pay. But it doesn’t match what Amazon.com, Inc. (AMZN) is offering. Amazon is boosting its pay for some employees to stay ahead of other businesses. In 2018, the online giant raised its starting wage to $15 per hour. Now
Rivian, the electric automotive company backed by Amazon, is targeting a valuation as high as $53bn when it makes its debut on the Nasdaq, potentially as soon as next week. At the top end of its range of $57-$62 a share, Rivian would begin trading at a value higher than the likes of carmakers Kia
In this article TSLA CNBC’s Jim Cramer expressed wonderment Monday at the continued strength in Tesla‘s stock — up about 50% in the past month and roughly 200% in the past 12 months. “Tesla is actually a phenomenon we have to talk about,” Cramer said on “Squawk on the Street,” before the opening bell on
One thing to start: Voters in the US state of Virginia are set to decide today whether former Carlyle co-chief executive Glenn Youngkin should serve as the state’s next governor. More on the race here. Glenn Youngkin, Virginia Republican gubernatorial candidate © Getty Images Ties to Jeffrey Epstein come back to haunt Jes Staley Barclays
On January 1, 1999, the European Union introduced its new currency, the euro. The euro was created to promote growth, stability, and economic integration in Europe. Originally, the euro was an overarching currency used for exchange between countries within the union. People within each nation continued to use their own currencies. Within three years, however,
India’s prime minister Narendra Modi vowed to cut his nation’s emissions to net zero by 2070, a major turnround for the world’s third-largest polluter, as part of a several new targets set on the first full day of the COP26 climate summit. India would get half its energy from renewable sources by the end of
In this article AMZN A rendering of ABL Space’s RS1 rocket launching Project Kuiper satellites for Amazon. Amazon Amazon aims to launch its first Project Kuiper internet satellites in the fourth quarter of 2022, the company announced on Monday. The technology giant filed a request with the Federal Communications Commission to launch and operate its
Chancellor Rishi Sunak has very limited room for manoeuvre in his efforts to restore budgetary discipline before the next general election, especially if interest rates start to rise, the UK fiscal watchdog has warned. Richard Hughes, head of the Office for Budget Responsibility, said on Monday that Sunak had left himself little wriggle room to
Costco Wholesale Corporation (NASDAQ: COST) goes against the grain. In today’s world of shopping via smartphone and next-day delivery, Costco remains the largest warehouse retailer in the United States. Its secret is simple: Instead of trying to compete on margins alone, the company sells membership cards. And it sells a lot of them. Costco counted
Barry Silbert, Founder and CEO, Digital Currency Group David A. Grogan | CNBC Digital Currency Group is selling shares to SoftBank and Google’s venture capital arm in a deal that values the crypto conglomerate at more than $10 billion. The Manhattan-based, private company announced a secondary round on Monday, in which existing investors are selling
European equities on Monday added to a record high hit last week, as investors shrugged off concerns about central bank rate rises in response to high inflation. The regional Stoxx 600 share index rose 0.6 per cent in morning dealings. London’s FTSE 100 gained 0.5 per cent and futures tracking Wall Street’s S&P 500 climbed
Jes Staley’s strongest attribute as chief executive of Barclays — instinctive risk taking — has been his downfall. The trigger for his departure is a dispute over business ethics, a problem for the UK bank itself long before he joined in 2015. The Financial Conduct Authority is evidently unhappy with his characterisation of his relationship
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