Forecasts & opinions
Mayoral elections were held yesterday again in Istanbul, Turkey, after the results in March were annulled because of alleged voting irregularities in the process, according to the AK Party, the opposing party.
Last night's results were the same as those in March, that Ekrem Imamoglu of the Republican People's Party (CHP) is now the new mayor of Istanbul. This result comes as a blow to Tayyip Erdogan, whose party lost by almost 800,000 votes.
Asian stocks slipped yesterday as fears of military confrontation in the Middle East Gulf were raised after Iran shot down a U.S military drone, according to Reuters.
Federal Reserve (Fed) Chairman, Jerome Powell announced in a press conference yesterday that interest rates will remain the same "but indicated that it could soon cut them as economic risks mounted and inflation remained stuck below target," according to the New York Times.
Due to continuing trade tension and slowing global economic growth, a number of officials on the Fed's policymaking committee expect to lower rates before the end of the year.
The social media giant, Facebook Inc, is planning to release its very own cryptocurrency, named Libra, by next year. The hope is that the Libra will be traded on a global scale in the future.
According to a report by the British Chambers of Commerce (BCC) business investments across the UK are coming to a halt and the economy is forecasted to see zero growth in the second quarter.
German exports fell by 0.5 percent from April 2018 to April 2019, according to the Trade Balance report released by the Statistisches Bundesamt Deautschland
Fiat Chrysler withdrew its proposal to merge with French automaker Renault due to the lack of political conditions that would ensure a successful deal.
The talks between the two automobile companies have been going on since May and after a series of late-night meetings, the French government requested a vote for or against the merger to be delayed.
The hot topic lately in the news is trade. During President Donald Trump's state visit to Britain and his meeting with Prime Minister Theresa May, he encouraged the UK to get Brexit over with so that the U.S and the UK could come to a trade deal. According to Bloomberg, Trump said that a deal would triple trade between the two countries.
The British Retail Consortium (BRC) released its Like-For-Like Retail Sales report, which measures changes in the actual value of retail sales from participating companies with invaluable management information on a regular and reliable basis. For May this report showed retail sales dropped by 2.7 percent, which is the biggest drop since 1995.
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- Germany's trade surplus rose slightly in October
- Swiss unemployment rate remained unchanged in November
- China says hopes it can reach trade agreement with U.S. as soon as possible
- Eurozone investor confidence rose sharply in December - Sentix