Market News

The annual meeting of the World Economic Forum kicked off on Tuesday till Friday in Davos, with global political and business leaders attending to discuss big issues facing the global economy and business sector amongst which are environmental issues.

An initial trade deal was signed by China and the US on Wednesday.  In a letter from President Xi Jinping read by China’s Vice Premier Liu He, the Chinese leader praised the deal as a sign that the two countries could resolve their differences with dialogue.

On Tuesday lawmakers approved legislation that will allow Britain to leave the European Union on 31 January with an exit deal.  They voted 330 to 231 in favour of the European Union (Withdrawal Agreement) Bill, that implements an exit deal agreed with the EU last year. 

Prime Minister Boris Johnson who fought the election under the slogan “Get Brexit Done” promising to end the deadlock and spend more on health, education and the police has won.  He said that his election victory provided an overwhelming mandate to take Britain out of the European Union on 31 January. 

Voters in Britain go to the polls on Thursday in an election. The results of the  election will be either Brexit under Prime Minister Boris Johnson or towards another referendum under Jeremy Corbyn  that could ultimately reverse the decision to leave the European Union. 

NATO leaders gathered at a gold resort in London on Wednesday for a summit with the aim to tackle disagreements over spending, future threats including China and Turkey’s role in the alliance.  The 29-member military alliance marks the 70th anniversary of its Cold War-era founding.

EU lawmakers confirmed von der Leyen as European Commission president along with her new team of 26 commissioners with 461 votes in favour and 157 against. Vond der Leyen will be the first woman to hold the EU’s top job. She is a former German defense minister, who is succeeding Jean-Claude Juncker.

Prime Minister Boris Johnson shook hands with his rival, opposition Labour leader Jeremy Corbyn, during a live television debate on Tuesday.  Both men agreed to improve the tone of Britain’s political debate.  Johnson doubled down on his Brexit promises on Tuesday,

President Donald Trump said on Saturday that the US-China trade talks were moving along “very nicely” but more slowly than he would have liked.  He also said that there had been incorrect reporting about the US willingness to lift tariffs. 

Christine Lagarde delivered her first speech as President of the European Central Bank on Monday.   In her speech she did not make reference to monetary policy.  She honoured the commitment of  former German Finance Minister Wolfgang Schaeuble’s …

The European Union has agreed on Monday to delay Brexit until 31st January, said Donald Tusk, the bloc’s chairman. “The EU27 has agreed that it will accept the UK’s request for a Brexit flextension until 31st January 2020.”…

European Central Bank President Mario Draghi chaired his final news conference on Thursday after an eight-year tenure at the bank.  It was not the grande finale he was hoping for as he stood in the same place he started whereby he tried …