UK election has only one loser: the British people

The early UK election highlights the harm done by the Brexit vote, but also its short-term winner: the Conservative party. Hidden for now is the long-term loser: the British people.

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Market moving info — week starting May 22, 2017

Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting May 22, 2017.

Last week:          

  • An investigation into possible links between the presidential campaign of Donald Trump and Russia has intensified, with reports saying that a current White House official is a person of interest. Sources told the Washington Post the official was close to the President, but did not elaborate further.

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More Europe, or no Europe: the time to decide is now

Europe has been through a very rough patch since the financial crisis of 2007-2009, but the real danger for the European Union and the eurozone is still very present. In order to save the EU, Europeans will have to get even closer.

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Market moving info — week starting May 15, 2017

Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting May 15, 2017.

Last week:          

  • A massive ransomware attack took place in around 70 countries, with computers locked by malicious software requesting $300 in bitcoin to release them.

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For EU citizens, the right to stay in Brexit Britain may come too late

I see that even one of the most fervent supporters of the Leave campaign, its biggest donor, agrees with an idea I expressed a couple of months after the Brexit vote: Britain should unilaterally guarantee the rights of European Union citizens already residing here.

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Market moving info — week starting May 8, 2017

Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting May 8, 2017.

Last week:          

  • The U.S. economy created more jobs than forecast in April, when the nonfarm payrolls number came in at 211,000 compared with analysts’ expectations of about 185,000 new jobs.

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Market moving info — week starting April 24, 2017

Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting April 24.

Last week:          

  • UK retail sales saw their biggest fall in seven years in the first quarter, down 1.4% on the previous quarter and 1.8% year on year. Average store prices have increased by 3.3% on the year, the highest rise since 2012.

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Brexit voters blame the wrong foreigners for the London housing crisis

One of the main complaints of some of the “Leave” voters was that Britain is a “small island” and it is “full up.” Immigration “puts pressure” on local services such as hospitals and schools, but, most importantly, on local housing.

Even Prime Minister Theresa May, when she was Home Secretary, said immigration was putting pressure on the housing sector.

Intriguingly, however, it seems the kind of foreigner whom the UK government welcomes is the foreigner who buys homes but never lives in them – the foreign investor.

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Market moving info — week starting April 17, 2017

Here’s a summary of last week’s market moving news and a look ahead to the data, events and earnings reports that are likely to move the markets in the week starting April 17.

Last week:          

  • The BBC’s Panorama documentary programme aired the recording of a phone conversation between two Barclays employees in 2008 in which one of them says the Bank of England and the government have put pressure on their bank to lower Libor.

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Markets have their first head-on collision with Trump

Well, wasn’t last week a bit of a cold shower for investors. European stock markets closed lower and US ones were flat last Friday, after nonfarm payrolls badly missed expectations in March.

In fact, it’s a surprise the markets declined so little. Investors had other things to worry about, too: President Trump’s surprise airstrike on Syria was a big one. The president, who until not long ago was making positive noises about his Syrian and Russian counterparts, changed his mind after a chemical weapons attack that killed many children.

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