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Polls have predicted that the election could be a major turning point, with the center-left Labour Party expected to unseat the right-wing Conservative Party, possibly with a crushing landslide. Credit... Andrew Testa for The New York TimesImage Portsmouth town center. Credit... Andrew Testa for The New York TimesImage England flags and election posters for the Reform U.K. candidate on Kingston Road, Portsmouth. Credit... Andrew Testa for The New York TimesSome formerly stalwart Conservative supporters said they were rethinking their vote. But others defended the Conservative Party.
Persons: , , Sam Argha, Andrew Testa, Penny Mordaunt, King Charles III, Ms, Mordaunt, Liberal Democrats —, Grahame Milner, Milner, Mr, Tracy Patton, It’s, Daisy Quelch, Kiran Kaur, Quelch, Margaret Thatcher, Nigel Farage, Andrew Revis, Kerry Harris, Shanice Bakes, gestured, Harris Organizations: Conservative, Labour Party, Conservative Party, Portsmouth, The New York Times, The New York, Labour, Liberal Democrats, Conservatives, Navy, Residents, National Health Service, European Union, Reform, Reform U.K Locations: Portsmouth, strollers, Britain, England, Southsea, Dixie’s, Kingston, Credit, Ukraine, Iceland
It could be a disastrous night for the Conservatives, with the exit poll predicting the lowest-ever total number of seats in the party’s history. Because of its electoral system, Britain can see large discrepancies between the share of seats won by a party and its share of the popular vote. The exit poll suggests one of the largest swings in British political history, with Labour expected to win 410 seats and the Conservatives on 131. Britain’s traditional third party, the Liberal Democrats, also enjoyed a huge bump, going from just 11 seats won at the 2019 general election to a projected 61. Reform UK, a right-wing populist party, was projected to win 13 seats, also a lot more than many polls had suggested.
Persons: resoundingly, Labour’s, Keir Starmer, Britain’s Organizations: London CNN, Labour Party, Conservatives, Labour, Liberal Democrats, Reform, Scottish National Party Locations: United Kingdom, England, Scotland, Wales, Northern Ireland, Britain
Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Italy is led by the most right-wing leader since the rule of fascist wartime leader Benito Mussolini. Reform UK party leader Nigel Farage speaks to the crowd of supporters on July 3 in Clacton-on-Sea, England. Farage’s political success to date has all come without him holding a parliamentary seat. It is possible that Farage’s splitting of the right has actually helped Starmer increase his majority in parliament.
Persons: Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Dan Kitwood, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: CNN, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: Europe, Netherlands, Italy, Britain, British, Clacton, England
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though some say right-wing movements are on the rise globally, in this year's elections, that's not universally the case. Andy Soloman/UCG/Universal Images Group via Getty ImagesIn short, voters are just fed up — no matter who's in charge. Voters want a chanceGlobally, it's not hard to see an anti-establishment, anti-incumbency trend playing out. So-called "double haters" — voters who dislike both Trump and Biden — have made up an influential chunk of the electorate in recent polls.
Persons: , that's, Brian Greenhill, Rishi Sunak's, Andy Soloman, Greenhill, Keir Starmer, Rishi, Emmanuel Macron's, Narendra Modi's, Yoon Suk, Joe Biden, Donald Trump, de, Richard Wike, Sweden —, Wike, Mike Kemp, there's, Biden —, Biden, it's Organizations: Service, Business, SUNY, Environmental, Getty, Voters, Labour, Conservative Party, Reuters, African National Congress, NPR, de Maismont, Pew's, Research, Pew Research, Trump Locations: India, France, SUNY Albany, South Korea, , United States, AFP, Canada, Germany, Greece, Italy, Japan, Netherlands, Spain, Sweden, America
London CNN —The Labour Party’s projected victory in the UK general election marks a historic moment in modern British political history and a huge personal triumph for Keir Starmer, the Labour leader who is set to become the country’s next prime minister. Starmer’s victory is all the more remarkable considering the journey that Labour has been on since the last general election in 2019. It was in this context that Starmer took control of a broken Labour Party on April 4, 2020. On that day, David Lammy, one of his Labour colleagues, took him to one side and warned Starmer: “Set yourself a 10-year cycle. There has for months been a working assumption that a Starmer victory would be in part thanks to a general disdain for the Conservatives after 14 years in power.
Persons: Keir Starmer, Jeremy Corbyn, Boris Johnson, Johnson, David Lammy, Starmer, , Lammy, , Liz Truss, Rishi Sunak, Critics, Donald Trump, Nigel Farage Organizations: London CNN, Labour, , Conservatives, Labour Party, Downing Street, Conservative Party, spook Conservative, Reform
But he would not be the first president to step aside rather than seek reelection if he ultimately makes that decision. Accordingly, I shall not seek, and I will not accept, the nomination of my party for another term as your President. Reel America Preview: LBJ Announces He Won't Run 3/31/1968Nearly 60 years old when he made that speech, Johnson looked much older. By the time he bowed out of the race, Johnson, unlike Biden, was facing multiple challenges for the Democratic nomination in the spring of 1968. “There’s the misconception that LBJ opted not to run again due solely to the growing controversy and divisions over the war in Vietnam.
Persons: Joe Biden, CNN’s, Lyndon B, Johnson, Biden, Sen, Eugene McCarthy, Robert F, Kennedy, Mark Updegrove, LBJ, ” Updegrove, , FDR, Woodrow, Martin Luther King Jr, sidestepped McCarthy, Hubert Humphrey, Humphrey, Richard Nixon, George Wallace, Wallace, John F Organizations: CNN, LBJ, Social Security, Democratic, Communist, New Hampshire, White, LBJ Foundation, National Guardsmen, Army, Democratic National Convention, Republican, Southern, Medicare Locations: Vietnam, LBJ Vietnam, Washington, DC, Baltimore, Chicago, California, American
CNN —Steve Bannon, a former Donald Trump White House strategist, is set to report to a federal prison in Danbury, Connecticut, on Monday to begin a four-month sentence for defying a congressional subpoena. ‘More powerful in prison’The MAGA media firebrand was keeping a busy schedule in the days before his prison sentence. “I’m going to be more powerful in prison than I am now,” Bannon said last week. Those in custody at Danbury can send emails without attachments, but they pass through a monitored system, on a delay. For now, though, Bannon is poised to go through an intake process on Monday that’s familiar to inmates at Danbury.
Persons: Steve Bannon, Donald Trump, Bannon, Peter Navarro, Trump’s, podcaster, Trump, firebrand, “ I’m, ” Bannon, — unbothered, I’m, ’ ” Bannon, , , he’ll, He’ll Organizations: CNN, House, Trump, Justice Department, Federal Bureau of Prisons, Trump White House Locations: Danbury , Connecticut, Washington ,, Danbury, He’ll, acclimate
How Steve Bannon Sees the Future - The New York Times
  + stars: | 2024-07-01 | by ( David Brooks | ) www.nytimes.com   time to read: +2 min
I was sitting in Steve Bannon’s Washington living room in 2019. By then populists had already racked up some big wins — Brexit in Britain, Trump’s victory in 2016. Bannon knew I opposed him in every particular and abhorred much of what he said, but he laid out his grand vision cheerfully, confidently. I found Bannon, currently the host of the podcast “War Room,” to be embroiled and embattled as usual. I should emphasize that I wasn’t trying to debate Bannon or rebut his beliefs; I wanted to understand how he sees the current moment.
Persons: Leon Trotsky, Steve, Donald Trump’s, MAGA, populists, Giorgia, Bannon, didn’t, Joe Biden’s Organizations: Brexit, Trump Locations: Russian, Steve Bannon’s Washington, Britain, Hungary, Poland, Italy, America
Viktor Orban, Hungary's prime minister, arrives on day one of the European Union (EU) leaders summit at the EU Council headquarters in Brussels, Belgium, on Monday, May 30, 2022. Hungary's motto for its presidency — Make Europe Great Again — raised eyebrows for its resemblance to the famous tagline of former U.S. President Donald Trump. The EU presidency rotates among its member countries, and while the post holds little real power, it does allow countries to put their priorities high on Europe's agenda. As Hungary's takeover approached, leaders in Brussels rushed to push through important policy decisions while Belgium was still at the helm. "(A Hungarian) delay, according to most European leaders, is already calculated and being taken into consideration as if it's something which is most likely going to happen."
Persons: Viktor Orban, Hungary's, Viktor Orbán, Donald Trump, Dorka Takácsy, , Takácsy, Orbán Organizations: European Union, EU, , Centre, Integration, Budapest Locations: Brussels, Belgium, Hungary, Ukraine, Russia, China, Moldova
During his 2016 campaign, Donald J. Trump orchestrated a takeover of the Republican Party in part by blasting wealthy political donors as the root of corruption and delivering a populist message that appealed to working-class voters. Eight years later, one of his key decision points in choosing a running mate is connections to the superrich. As the end of the selection process approaches, with an announcement expected in the next two weeks after months of suggestion and misdirection, Republican hopefuls are looking to convince Mr. Trump that they have the financial backing behind them that could help swing the race. There are other factors that could make for a good match. Mr. Trump is said to be considering candidates with discipline on the campaign trail, who will not steal his precious spotlight and would fare well in a debate with Vice President Kamala Harris.
Persons: Donald J, Trump, misdirection, Kamala Harris Organizations: Republican Party
Nurphoto | Getty ImagesWith just days to go until France's snap parliamentary election kicks off, victory for the far right looks increasingly likely in the first phase of the two-stage runoff. But predicting the outcome of France's final vote on July 7 is less clear-cut, given the complexity of France's voting system. Voter turnout for the national election is also expected to be larger — and therefore more representative — than the 51% who cast their ballot in the EU vote. With that in mind, analysts see a 30% to 40% chance of the National Rally winning the 289 seats needed to secure an absolute majority in the 577-seat National Assembly. A majority government for either the far-right or the ultraleft alliance, meanwhile, could spark a far more dramatic outcome.
Persons: Jordan Bardella, Emmanuel Macron's, Schmieding, Organizations: National, Palais des Sports, Nurphoto, Elabe, CNBC, Macron, National Rally, National Assembly, Berenberg Bank, Citi Locations: French, Le, Paris, France
Forty-eight hours before President Biden and former President Donald J. Trump clashed onstage in Atlanta on Thursday, the leaders of Britain’s two major parties, Prime Minister Rishi Sunak and Keir Starmer, went head-to-head in Nottingham, England. To say their debates were different doesn’t begin to capture the Atlantic Ocean-sized chasm that separated them. In content, tone and atmosphere, the British debate showcased two politicians in their prime, sparring over the issues — frequently heated, not without personal jabs, but focused on the policy nuances of taxes, immigration and health care. Neither Mr. Sunak, 44, nor Mr. Starmer, 61, brought up his golf handicap. But this week’s back-to-back encounters showed how sharply these democracies have diverged, at least in this election cycle.
Persons: Biden, Donald J, Trump, Rishi Sunak, Keir Starmer, Sunak, Starmer, Margaret Thatcher, Ronald Reagan, Bill Clinton, Tony Blair Locations: Atlanta, Nottingham, England, British, United States
London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.
Persons: Joe Biden, Donald Trump, shrugged, , Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, , Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, , Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, , North America, United States, Canada, Berlin , Vermont, Eastern Europe, America
Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.
Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain
Soon, he could well become prime minister if RN wins an absolute majority in the forthcoming parliamentary elections — and he's only 28. Bardella's rise from party spokesman in 2017 to party president over the course of five years is somewhat remarkable for a man who is only 28. Bardella excelled in economics and social sciences at a private college and joined National Rally — then known as the National Front — at the age of 16. Two years later, he became a Member of the European Parliament (MEP) before being made party president in 2022. Jordan Bardella, president of the National Rally, speaks to members of the media as he arrives at Medef in Paris, France, on Thursday, June 20, 2024.
Persons: Jordan Bardella, Julien De Rosa, Bardella, Denis, Joseph Downing, Pen, Jean, Luc Mélenchon, Frederic Chatillon, Le Pen, Le, , Critics, Francois Lo Presti, Macron, Holger Schmieding, Bardella's, Emmanuel Macron's Organizations: Afp, Getty, National, CNBC, National Rally, Paris Sorbonne University, London School of Economics, European Institute, National Assembly, Le, Palais des Sports, Nurphoto, cri, Union, NATO, Berenberg Bank, Popular, Bloomberg Locations: Paris, Villepinte, France, Bardella, Drancy, Paris suburb, Seine, Montmorency, Morocco, Henin, Beaumont, Ukraine, French, Medef
The country is confronting a perilous moment, internally estranged over politics and culture and as multiple foreign policy crises deepen. Biden has dedicated his term to expanding NATO to counter the Kremlin’s onslaught on Ukraine and threat to wider Europe. This leaves Biden badly needing to use Thursday night’s debate to convince voters that he can make their lives better — and soon. Post-game coverage of Thursday’s debate is certain to zero in on the best verbal jabs, soundbites and the stamina and energy of the rival candidates. But the most meaningful impact of the clash between Trump and Biden will only begin to unfold after noon on Inauguration Day, January 20, 2025.
Persons: Al, George H.W, Richard Nixon’s, Donald Trump’s, Hillary Clinton, Joe Biden, Trump, Robert Frost’s, Biden, he’s, , he’d, Vladimir Putin, Kim Jong Un, Nikoletta Stoyanova, didn’t, they’ve, Trump’s, Jerome Powell, Kamala Harris, Lyndon Johnson, He’s Organizations: CNN, White, GOP, NATO, Trump, North, America, 57th Motorized Brigade, Republican Party, Federal, ABC Locations: America, Russia, China, Ukraine, Europe, Beijing, Gaza, United States, Vovchansk, Kharkiv Region, Nevada
In France, a snap National Assembly election has delivered a distressing first-round victory for Marine Le Pen, long the bête noire of European liberalism, and a humiliating defeat for President Emmanuel Macron, almost a caricature of the continental elite. At present, the British elections appear set to deliver for Labour the most thumping victory any party has achieved in any mature democracy for at least a generation. Some suggest a 4-to-1 margin is plausible, and Conservative efforts to warn voters of a coming left-wing supermajority appear to have backfired, making them instead much more likely to support Labour. (And the party is expected to only win about 40 percent of the national vote in a low-turnout election.) But after 14 years of Tory government, a 3-to-1 or 4-to-1 Labour Parliament would still be a truly historic shift.
Persons: Emmanuel Macron, Keir Starmer Organizations: Labour, Tories Locations: France, Britain
Kate Bedingfield served as White House communications director in the Biden administration and was the deputy campaign manager on Biden’s 2020 presidential campaign. That contentious exchange during the 2020 debate put Biden on the defensive. A President Trump might make their decisions about retirement that much easier. David Urban, a CNN political commentator, served as an adviser to then-President Trump’s 2020 re-election campaign. On Thursday, President Biden needs to do it again.
Persons: isn’t, Joe Biden’s, Donald Trump’s, , Stephanie Griffith, Scott Jennings, Trump, Donald Trump, Joe Biden, Biden, counterpunched Biden, CNN Trump masterfully, ” Scott Jennings Trump, mightily, George W, Bush, Sen, Mitch McConnell, Sophia A, Nelson Stephanie Honikel, Chris Wallace, Wallace, Trump’s, it’s, Nelson, It’s, Kate Bedingfield, Donald Trump Kate Bedingfield, Shermichael Singleton, Bill Clinton’s, James Carville, , Democratic Barack Obama, they're, aren’t, “ It’s, David Axelrod, people’s, ” Biden, jibing Trump, , Barack Obama, Obama, David Urban, Amy Coney Barrett, Amy Coney Barrett's, Roe, Wade, Ronald Reagan, Bill Clinton, Reagan, Clinton, ” David Urban, Dobbs, Lady Jill Biden, Samuel Alito, Clarence Thomas, Bakari Sellers, Abraham Lincoln, chokeholds, Emmett Till, HBCUs ? Biden, Hilary Krieger Organizations: CNN, White, Biden, Scott Jennings CNN, Trump, Democratic, Republican, RunSwitch Public Relations, Capitol, GOP, Republican Government Reform, White House, NBC, Marist, Fox News, Global, Senate, United, Appeals, Federalist Society, American, United State Supreme Court, National Guard, South Carolina House of, Strom Law, CNN Opinion’s Locations: Cleveland , Ohio, Nashville , Tennessee, New York, Louisville , Kentucky, Charlottesville , Virginia, , White, Charlottesville, Michigan, Scranton, Claymont, America, United States, Pennsylvania, HBCUs
LONDON — Populist British politician Nigel Farage doubled down on claims that the West provoked Russia's war in Ukraine despite facing backlash from Westminster in the crucial final weeks of the U.K. election campaign. Clarifying his comments Saturday, Farage said he was not and never has been "an apologist or supporter of Putin," but claimed that he "saw the war coming" and that the West has "played into Putin's hands." "As I have made clear on multiple occasions since then, if you poke the Russian bear with a stick, don't be surprised if he responds. And if you have neither the means nor the political will to face him down, poking a bear is obviously not good foreign policy." He also recalled comments made to the European Parliament in 2014 — shortly after Russia's annexation of Crimea — in which he questioned NATO's military exercises in Ukraine.
Persons: Nigel Farage, Vladimir Putin's, Putin, Farage, , NATO's Organizations: LONDON, Populist, Telegraph, Reform, NATO, European Union Locations: Populist British, Ukraine, Westminster, Crimea
Instead, they influenced the rapid buildup of a kind of shadow White House policymaking apparatus spearheaded by former Trump administration officials. The groups aren’t officially affiliated with Trump’s campaign and have at times gotten crosswise with Trump’s political advisers. Several of the outside groups designed to advance Trump’s policy goals are doubling as a clearinghouse for potential second-term job candidates. Their operations are led by former Trump White House aides who were instrumental in efforts to weed out officials who disagreed with Trump toward the end of his first term. The group he left quickly hired another former senior Trump White House personnel official to replace him.
Persons: Donald Trump, , , Trump, He’s, Trump’s, they’ve, Joe Biden isn’t, Hillary Clinton, Alberto Mier, doles, Utah Sen, Mitt Romney, Jeff Flake, Pat Toomey, Bob Corker, Lamar Alexander, Roy Blunt, Rob Portman, Arizona Sen, John McCain, Paul Ryan, Mitch McConnell, Ryan, McConnell, Roe, Wade, Don McGahn, Steve Vladeck, , It’s, Susie Wiles, Chris LaCivita, ” Trump, ” Troup, ” “, ” Hemenway, John McEntee Organizations: CNN, Republican, Republicans, Trump, Getty, Capitol, Ten, GOP, Arizona, Kentucky Republican, White, Georgetown University, America, Institute, Center, White House, Conservative, Trump White House, Republican Party Locations: Iowa, Washington, New York, Kentucky, America, Milwaukee, Gaza
CNN —Nigel Farage, a figurehead of the UK’s populist right, has sparked outrage from political opponents after saying the West “provoked” Russia’s invasion of Ukraine. “We’ve provoked this war – of course it’s his fault – he’s used what we’ve done as an excuse,” he said. Farage – a former EU parliamentarian – claimed to be “the only person in British politics” to predict the invasion of Ukraine. “I am one of the few figures that have been consistent & honest about the war with Russia,” he wrote. He added that Farage has “shown that he would rather lick Vladimir Putin’s boot than stand up for the people of Ukraine.”
Persons: Nigel Farage, , Farage –, Brexit –, Farage, Putin, Nick Robinson, “ We’ve, , , “ Putin, Rishi Sunak, ” James, Ben Wallace, John Healey, Vladimir Organizations: CNN, BBC, NATO, European Union, , Conservative, Labour Locations: Ukraine, Brexit, EU, Russia,
And what everyone sort of expected to happen seems to be roughly what’s happening, which is that the populist right has consolidated a lot of support. So that’s sort of three-dimensional chess of one sort. That gets at the definition of populism, right? michelle cottleYeah, so but that kind of then lends itself to a backlash when you feel like things aren’t going right. carlos lozadaWell, I mean —ross douthatI think that’s all sincere.
Persons: lydia polgreen Ross, carlos lozada, lydia polgreen, michelle cottle, carlos lozada That’s, lydia polgreen That’s, Lydia Polgreen, michelle cottle I’m Michelle Cottle, ross douthat I’m Ross Douthat, carlos lozada I’m Carlos Lozada, We’ve, Ross, michelle cottle Woo, — ross douthat, lydia polgreen —, I’m, ross, — michelle cottle, ross douthat —, ross douthat, Emmanuel Macron, Macron, Silvio Berlusconi, Giorgia, Meloni, Brexit, It’s, populists, , Lozada, it’s, don’t, we’ll, that’s, we’ve, JD Vance, He’s, — carlos lozada, polgreen, Trumpist, who’s, Vance, we’re, Trump, — michelle cottle Woo, carlos lozada —, , decries, — ross, won’t, carlos lozada Well, carlos lozada Don’t, Don’t, it’s — michelle cottle, I’ve, Trumpism, Donald Trump, michelle cottle Huey Long, Carlos, William Jennings Bryan, Michelle, Huey Long, George Wallace, Ross Perot, Pat Buchanan, Bernie Sanders, you’ve, Charles Coughlin, Richard Nixon, Ronald Reagan, Biden, unquote, nobody’s, he’s, JD Vance don’t, Robert Penn, Warren, Long, lydia polgreen Wow, ross douthat — Carlos Lozada, George Packer, lydia polgreen Go, carlos lozada Oh, that’s — carlos lozada —, lydia polgreen We’ll, carlos lozada It’s, lydia polgreen It’s Organizations: “ New York, Trump, Tories, National Health Service, Republican, Social Security, Republican Party, Chamber of Commerce, “ Times, Aspen Ideas, Nebraska Democrat, Tea Party, Occupy, Belt, Star Locations: , Europe, France, United States, Italy, United Kingdom, South, British, Ohio, Middletown , Ohio, America, Sun Valley, Middletown, Louisiana, Alabama, China, Connecticut, Belt America, Florida , Texas, California, American, Texas, Mexico, Arizona
Jack Taylor | Getty Images News | Getty ImagesLONDON — European stocks are heading for a cautiously higher open Friday as investors monitor a slew of central bank decisions and data releases. The pan-European Stoxx 600 index is on course for a weekly gain of more than 1.5%, its best performance since early May. Attention this week turned to central bank action, as the Swiss National Bank announced it would cut interest rates by 0.25 percentage points to 1.25%. The SNB became the first major central bank to cut rates during this cycle back in March. The Bank of England meanwhile kept interest rates unchanged at a 16-year high of 5.25%.
Persons: Jack Taylor Organizations: Getty, Equity, European Union Parliament, Reuters, Swiss National Bank, Bank of England Locations: Godalming, United Kingdom, France
Paris CNN —French soccer superstar Kylian Mbappé made a dramatic foray into the country’s election campaign this week, but don’t expect the striker to have an influence on the outcome. The far-right National Rally party of anti-immigration leader Marine Le Pen is leading in the polls, and most pundits suspect her populist movement has never come this close to power. Leaders of the French far-right National Rally, Marine Le Pen and Jordan Bardella, attend a rally ahead of the European Parliament elections where the party had huge success earlier this month. In 2006, Marine Le Pen’s father, far-right patriarch Jean-Marie Le Pen, suggested there were too many “players of color” on the national side. While millions will cheer them on at the Euros, they serve as a visible reminder of the country’s changing demographics — an issue which animates voters for the National Rally like no other.
Persons: Adam Plowright, , Emmanuel Macron —, Read, Kylian Mbappé, Adam Plowright Adam Plowright, , Marcus Thuram, Mbappé, Emmanuel Macron, Marine, Macron, Le Pen’s, Le Pen, Jordan Bardella, Gonzalo Fuentes, Bardella, today’s TikTok, Thuram —, Lilian, Aime Jacquet, Stu Forster, Marcel Desailly, Zinedine Zidane, Didier Deschamps, Le, Jean, Marie Le Pen Organizations: Paris CNN —, UEFA, , Real Madrid, Ipsos, Reuters, YouTube, Brazil, National Locations: Paris CNN — French, Germany, Paris, Cameroon, Algeria, France, United States, Europe, Guadeloupe
Switzerland's financial regulator ruled on Wednesday that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country's antitrust watchdog that it merited further scrutiny. "The merger of UBS and Credit Suisse will not eliminate effective competition in any market segment," Swiss financial regulator FINMA said in a statement. UBS said it will continue to implement its integration of Credit Suisse after FINMA's report. It also narrowed the financing options for the country's high-cost, export-orientated companies, especially with Credit Suisse seen as the bank which supported entrepreneurs. "When I look at the discussion after Credit Suisse's rescue by UBS, I see more fear than courage," he said in Lucerne.
Persons: FINMA, Sergio Ermotti Organizations: UBS, Credit Suisse Locations: Switzerland, Swiss, Lucerne
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