VIDEO2:1202:12Bank of England holds rates steady as Brexit uncertainty drags onStreet Signs EuropeThe Bank of England (BOE) held interest rates steady on Thursday, as Brexit uncertainty continues to hang over the world's fifth-largest economy. With less than 45 days to go before the U.K. is set to leave the European Union, the BOE's nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to hold interest rates at 0.75%. Sterling was little changed on the news, trading at around $1.2467. Policymakers at the BOE reiterated their view that leaving the EU without a deal would slow growth and raise prices. But, the central bank also warned that another delay to Britain's departure date could lead to further economic weakness. "It is possible that political events could lead to a further period of entrenched uncertainty about the nature of, and the transition to, the United Kingdom's eventual future trading relationship with the European Union,"..
Huawei launched its Mate 30 smartphone lineup without pre-installed Google-licensed apps amid fallout from a U.S. blacklist.
Minister of Finance Wopke Hoekstra presents the suitcase with the government budget and a million memorandum on Prinsjesdag (Prince's Day) in the House of Representatives in The Hague on September 17, 2019.BART MAAT | AFP | Getty ImagesThe Dutch government announced plans for more economic stimulus in the coming year, but analysts believe it falls short of what institutions like the European Central Bank President (ECB) have called for. The ECB's chief Mario Draghi had called on euro zone states with the fiscal space to start spending more, in order to prop up the region's economy. Draghi mentioned at a press conference last week: "As a matter of fact, I understand the Dutch Government has a 50 billion (euro) investment program and that's a good time to activate it." However, in his plans for the 2020 budget, Dutch Finance Minister Wopke Hoekstra didn't include any details on the new fund, delaying any announcements until at least "early 2020." "The Dutch gover..
Weekly Briefing: EU leaders signal desire for Brexit deal despite limited progressIn this week's briefing, Anna Nadibaidze notes that while the EU27 do not want a No Deal Brexit, they also do not want the UK to remain. The post Weekly Briefing: EU leaders signal desire for Brexit deal despite limited progress appeared first on Open Europe.
Whatever the Brexit outcome, the UK and EU need to maintain dialogue on foreign policyOpen Europe's Anna Nadibaidze argues that both the UK and EU recognise the need to engage on foreign policy in any Brexit outcome, but future arrangements are likely to depend on the level of trust. The post Whatever the Brexit outcome, the UK and EU need to maintain dialogue on foreign policy appeared first on Open Europe.
Federal prosecutors and regulators are expanding their already aggressive investigations of allegedly fraudulent precious metals trades at J.P. Morgan Chase to other U.S. markets and financial firms, CNBC has learned. The broader inquiry into market manipulation of all kinds comes amid a spike in criminal prosecutions and civil actions in the past year involving so-called "spoofing" in the precious metals markets. Prosecutors have broadened their investigation in part due to information received from traders questioned for spoofing-related charges. Information from those traders has led to criminal charges against other individuals, according to people familiar with the probes who spoke with CNBC on the condition of anonymity due to the nature of the ongoing investigations. The widening inquiry is being led by the Justice Department and the U.S. Commodity Futures Trading Commission as they continue their pursuit of individuals and firms for manipulating U.S. markets. The scope of the i..