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[Newsmaker] Anti-EU figurehead Farage vindicated by Brexit vote

Nigel Farage has devoted his career to campaigning to leave the European Union, a once-impossible seeming goal he has now achieved following a referendum campaign peppered with his signature controver...

Updated : 2016.06.26 19:52

EU calls for UK’s early exit

The European Union wants a quickie divorce, but Britain wants time to think things over.  Senior EU politicians demanded Saturday that the U.K. quickly cut its ties with the 28-nation bloc _ a proces...

Updated : 2016.06.26 18:58

Brexit divorce 'not amicable' but must be quick: Juncker

European Commission chief Jean-Claude Juncker said Britain's planned departure from the European Union was "not an amicable divorce" but called for it to be quick."I do not understand why the British government needs until October to  decide whether to send the divorce letter to Brussels,...

Updated : 2016.06.25 17:04

China-backed AIIB approves first 4 loans worth $509 million

The China-backed Asian Infrastructure Investment Bank (AIIB) has approved its first four loans worth US$509 million as the bank holds its first annual meeting. Three of the four loans were co-financed with other multilateral lenders such as the Asian Development Bank and the World Bank. Th...

Updated : 2016.06.25 15:38

SoftBank's founder reverses retirement plans, says heir apparent 'victim'

TOKYO (AFP) -- The boss of SoftBank Group on Wednesday admitted his desire to hang on to power a little longer had pushed away the former Google executive seen as his heir apparent.Masayoshi Son told an annual shareholders meeting he had changed his mind about the timeline for stepping dow...

Updated : 2016.06.22 22:16

Fed keeps interest rate steady as Brexit vote looms 

WASHINGTON (AFP) -- The Federal Reserve held its key interest rate unchanged Wednesday, in part due to concerns about the disruption Britain‘s looming “Brexit” vote could have on global markets.While voicing confidence in continued U.S. economic growth, Fed Chair Janet Yellen said the J...

Updated : 2016.06.16 14:39

Alibaba sees growth rising to 48 percent in first forecast

Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014.The company predicts sales will rise at least 48 percent in the year ending March 2017 as it pushes i...

Updated : 2016.06.14 21:22

Microsoft shifts to social with huge LinkedIn deal

WASHINGTON (AFP) -- Microsoft on Monday shifted its focus to social networking with a massive $26.2 billion deal for professional social network LinkedIn.With its biggest-ever acquisition and one of the largest in the tech sector, Microsoft is adding tools to connect with business as it mo...

Updated : 2016.06.14 14:51

World Bank slashes global growth forecast to 2.4%

WASHINGTON (AFP) -- A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.The Bank said that the global economy should grow at just 2.4 pe...

Updated : 2016.06.08 14:38

Fed Chair Yellen says poor U.S. jobs report 'concerning'

PHILADELPHIA (AFP) -- Federal Reserve Chair Janet Yellen said Monday the dismal U.S. jobs report for May was "concerning" and "disappointing", but stressed she was still optimistic on the outlook for U.S. economic growth."One should never attach too much significance to any single monthly ...

Updated : 2016.06.07 14:52

ECB holds rates, gives current stimulus time to work

VIENNA (AP) -- The European Central Bank is expected to underline that its current stimulus measures are boosting the economy of the 19 countries that use the euro_ and need time to work before any new monetary jolts are added. After the bank left its key interest rates unchanged at its m...

Updated : 2016.06.02 21:17

Bullard says world well prepared for U.S. rate hike

The president of the U.S. Federal Reserve Bank of St. Louis hinted at a possible U.S. rate hike in the near future Monday, claiming the world is well prepared for a U.S. rate hike."My sense is that markets are well prepared for a possible rate increase globally," James Bullard told reporte...

Updated : 2016.05.30 10:47

Janet Yellen says Fed could raise rates in coming months

Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving.While economic growth was relatively weak at the end of last year and beginning of this year, it appears to be picking up now based on recent d...

Updated : 2016.05.28 10:49

China weakens yuan fixing to lowest since 2011

China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened.The reference rate was lowered by 0.3 percent to 6.5693 per dollar. A gauge of the dollar’s strength rose to a two-month high Tuesday as traders boosted wagers that U.S. interest r...

Updated : 2016.05.25 14:35

China criticizes U.S. steel anti-dumping measures

BEIJING (AP) -- China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid mounting complaints Beijing is exporting at improperly low prices to clear a backlog at home.The Commerce Ministry complained Wednesday that the duties of 522 percent announced on cold-rolled ste...

Updated : 2016.05.19 15:13