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Economists polled by Reuters expect headline consumer price inflation to ease to 0.1% from 0.3% last month, and core price inflation to remain steady on the month at 0.3%. Powell is likely to strike a relatively dovish tone at the press conference, however, given disappointing growth indicators since the last Fed meeting, Williams said. Japanese wholesale prices rose 2.4% in the year to May, Bank of Japan data showed on Wednesday, beating market forecasts for a 2% increase. The yen held steady at 157.16 per greenback after slipping to its lowest since June 3 at 157.40 the previous day. While Japan's central bank will likely discuss bond buying cuts to pre-empt yen selling pressure, dollar/volatility this week largely depend on Wednesday's U.S. CPI and Fed meeting, he added.
Persons: Jerome Powell's, Kieran Williams, Powell, Williams, Emmanuel Macron's, Sterling, Wei Liang Chang, bitcoin Organizations: U.S, Consumer, Fed, Reuters, Asia FX, InTouch, Bank of Japan, Bank of, DBS, CPI Locations: Czech, U.S, Asia, Bank of Japan
He’s poised to become the next prime minister if the French president loses his gamble in the upcoming snap election. Bardella, the National Rally party leader, grew up an only child in social housing in Seine-Saint-Denis, a working-class suburb in the northeast of Paris. Le Pen handpicked the young politician to head the party in 2022 – ending a 50-year-rule by the Le Pen dynasty – and bring a fresh boost to the French populist right. Le Pen, a self-described Bardella groupie, has said she’s always been a great admirer of his and that he shows great maturity. Bardella and Le Pen attend the National Rally party's Congress in Paris, France, November 5, 2022.
Persons: Jordan Bardella, Emmanuel Macron’s, He’s, Denis, ” Bardella, , Macron, Le Pen, Le, Marine’s, Jean, Marie Le Pen, Bardella, Jeff Pachoud, Dominique Moisi, , relatable, Luc Mélenchon, Critics, Eric Ciotti, France’s, Pen, Bardella –, , she’s, Christian Hartmann, Emma Leyo Organizations: Paris CNN —, National Rally, Sorbonne, France, National, Macron’s, BFMTV, Republicans, Rally party's Locations: French, Seine, Paris, France, AFP, East, Africa
French President Emmanuel Macron speaks with CNBC's Andrew Ross Sorkin (not shown), in Paris on May 23, 2024. French President Emmanuel Macron on Wednesday affirmed that he would not step down if his party suffers in the recently called snap elections for France's Parliament. The snap election is a gamble for Macron, who has characterized the race as a choice for the French people between nationalism and demagoguery or liberal values and a strong, united European Union. The European Parliament election results indicated waning enthusiasm among voters for the EU, which analysts say surfaced at least in part due to rising frustration over issues like immigration, living costs and crime. France's right-wing National Rally (NR) party won a historic 31.37% of the French vote for the European Parliament, more than double the 14.6% won by Macron's Renaissance party.
Persons: Emmanuel Macron, CNBC's Andrew Ross Sorkin, Macron, Gabriel Attal Organizations: France's, CNBC, Sunday, French, Union, EU, Macron's Locations: Paris, France, Germany, Austria, Europe, it's, France's
And I’m not leaving,” Greene told CNN of what she relayed to Comer, a Kentucky Republican. GOP Rep. Don Bacon of Nebraska framed the internal debate over how to handle Greene in familial terms: “You can only do so much. The American people don’t give a sh*t,” Greene told CNN last week after her meeting with Johnson. It’s not the first time Greene has tried the unpopular move of undermining the committee process and House GOP leadership. “I don’t think that you cure one hasty ill-advised action with another,” GOP Rep. Nick LaLota of New York said of Greene’s proposals.
Persons: Marjorie Taylor Greene, Kevin McCarthy, Mike Johnson, Greene, Johnson, Georgia Republican —, , Donald Trump’s, Joe Biden, of Justice —, Carlos Giménez, MAGA, General Merrick Garland, Jasmine Crockett’s, James Comer, , ” Greene, Comer, , Lauren Boebert, Bob Good, Ron DeSantis, “ I’ve, “ I’m, Ralph Norman of South, McCarthy, Don Bacon of Nebraska, Trump, Biden, It’s, Alejandro Mayorkas, impeaching, impeaching Biden, Nick LaLota, ” Johnson, Anthony Fauci, Brad Wenstrup, Wenstrup Organizations: CNN, GOP, Republican, Georgia Republican, Caucus, GOP Conference, of Justice, Republicans, Trump, Democratic Rep, Kentucky Republican, Florida Gov, Ralph Norman of South Carolina, impeaching Department of Homeland, Democratic, Justice Department, Ohio Republican Locations: Florida, Las Vegas, Kentucky, Colorado, Virginia, , MAGA, New York
The head of France’s mainstream conservative party on Tuesday called for an alliance with the far right in upcoming snap elections, throwing his party into deep turmoil as the shock waves from President Emmanuel Macron’s decision to dissolve the lower house of Parliament continue to course through French politics. The announcement, by Éric Ciotti, the head of the Republicans, was a historic break with the party’s longstanding line and its ties to former President Charles de Gaulle. Mr. Ciotti’s call was immediately met with a chorus of angry disapproval from within his own ranks. No leader of any mainstream French political party has ever previously embraced a possible alliance with Marine Le Pen’s National Rally, or its predecessor, the National Front. The elections for the National Assembly, the lower and more powerful house of France’s Parliament, are scheduled for June 30 and July 7.
Persons: Emmanuel Macron’s, Éric Ciotti, Charles de Gaulle, Ciotti’s, Macron, Ms, Le Pen’s protégé, Jordan Bardella Organizations: Republicans, Marine, National Assembly, National Rally Locations: Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap election will drive up volatility over the coming weeks, says Deutsche Bank's UleerMaximilian Uleer, Deutsche Bank's head of European equity and cross-asset strategy, joins 'Money Movers' to discuss how to measure the impacts of recent events in Europe, whether the moves in the French market index are an overreaction, and what the European markets are afraid of.
Persons: Bank's, Bank's Uleer Maximilian Uleer Organizations: Bank's Uleer, Deutsche Locations: Europe
When the sun sets in Hong Kong, the sprawling urban metropolis transitions from work to play. Arguably the world's best "bizcation" destination, Hong Kong offers endless activities once business travelers close their laptops for the day. Hong Kong Tourism BoardTo add a bit of mystery into your bizcation, consider exploring Hong Kong's speakeasies. Hong Kong Tourism BoardBut that's not the only attraction lighting up Hong Kong. A memorable bizcation requires a unique blend of work and play — and Hong Kong is the perfect destination to make it happen.
Persons: Hong, Chef Danny Yip, Vicky Cheng, it's, Chai, Noodle, speakeasies, that's, Luna Organizations: Network, Hong Kong's, Argo, Hong Kong Tourism Board, former Marine Police Headquarters, Hong Kong Tourism Board Hong, Insider Studios Locations: Hong Kong, there's, Hong, Wing, Victoria, Clearwater Bay, Tai Hang
Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.
Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU
Dollar firm ahead of key inflation test, Fed forecast update
  + stars: | 2024-06-11 | by ( ) www.cnbc.com   time to read: +1 min
A person holds banknotes of the Polish Zloty in front of a sticker showing various currencies on July 19, 2022, in Rzeszow, Podkarpackie Voivodeship, Poland. The euro hung below a two-week high to the dollar as investors braced for the European Central Bank's first interest rate increase since 2011 and the scheduled reopening of a key Russian gas pipeline later in the day. The dollar hovered near a one-month peak against the euro and pushed to a one-week high versus the yen on Tuesday as traders braced for crucial U.S. inflation data and fresh Federal Reserve interest rate forecasts the following day. The U.S. currency was supported by higher Treasury yields in the aftermath of surprisingly robust domestic jobs data at the end of last week, which sparked a dramatic paring of bets for Fed rate cuts this year. The dollar added 0.13% to stand at 157.25 yen early in the Asian day, the highest since June 3.
Persons: Emmanuel Macron Organizations: Central, Bank of Japan, U.S Locations: Rzeszow, Podkarpackie Voivodeship, Poland
Hong Kong is known as a global center of trade and finance, but the city has much more to offer. Here are some must-do daytime experiences to check out between meetings and conferences, transforming your time in Hong Kong from "work trip" to an enriching "bizcation." Sample daytime bizcation itinerary Grab a plastic stool at Shui Kee Coffee to try some of the city's best French toast and Hong Kong milk tea. Find inspiration in Hong Kong's colorful art sceneThere are dozens of museums sprinkled around Hong Kong, but M+ is arguably its most impressive. Hong Kong Tourism BoardIf you're looking for a quiet escape, hop on a ferry to Cheung Chau, a much-loved getaway for Hong Kongers.
Persons: Shui Kee Coffee, Qing, it's, It's, Yau Ma, HKwalls, Ling Lane, Chan Lane, Chung, you've, Wong Tai, Nan Lian Garden, Tai, Hing, Get, Cheung Chau, Hong Kongers, Yang Organizations: Shui, Kowloon Cultural, Hong, Hong Kong Palace Museum, . Hong Kong Tourism Board, Art, Hollywood, Lin, Hong Kong Tourism Board, Hing Kee, Michelin, Rosewood Hong, Insider Studios Locations: Hong Kong, Shui Kee, Kowloon, Victoria Harbour, Hong Kong Palace, Jordan, . Hong Kong, Sai Ying, Wong Tai Sin, Mo, Sheung Wan, Tai Sin, Hing Kee Shanghai, Cheung
It was Monday, June 10, the first day of Goldman Sachs' 2024 summer internships at its Manhattan headquarters. Goldman Sachs received a record 315,126 applications for its 2024 internship program, up severalfold from the 53,107 applications it received a decade ago. Goldman interns mingle Emmalyse BrownsteinDay 1 began with basics like how to access their Goldman email account and log into their company dashboards. For lunch, the bank served sandwiches and wraps and displayed chocolate-covered cookies emblazoned with the Goldman Sachs logo for dessert. See Solomon's full letter to interns below:AdvertisementJune 11, 2024 Welcome to Goldman Sachs On behalf of our people around the world, welcome to Goldman Sachs.
Persons: Goldman, Goldman Sachs, David Solomon, Chocolate, JPMorgan Chase, Emmalyse, Solomon, Will Bousquette, Jean Altier, Lou D'Ambrosio, Dan Dees, David Organizations: Service, Business, tote, JPMorgan, Goldman, BI, Invest Locations: Manhattan, New York City, New York, Dallas, San Francisco, Palm, bagels, Hudson
LONDON — European stocks are expected to open flat to higher Tuesday as investors look ahead to the Federal Reserve's next meeting and U.S. inflation data. The U.K.'s FTSE index is expected to open unchanged at 8,223, Germany's DAX up 6 points at 18,493, France's CAC 40 up 21 points at 7,897 and Italy's FTSE MIB up 16 points at 34,568, according to IG. Regional markets fell on Monday as traders reacted to the EU Parliament elections and French President Emmanuel Macron's decision to call a snap election after the right-wing National Rally party made strong gains.
Persons: Germany's DAX, Emmanuel Macron's Organizations: Federal, CAC, IG, Regional
Eyad Baba | Afp | Getty ImagesThe United Nations Security Council passed a U.S.-drafted cease-fire deal aimed at halting eight months of bloody fighting between Israel and Hamas in Gaza. In March, China and Russia vetoed a Gaza cease-fire resolution, saying it would give Israel a green light to attack the city of Rafah. "Israel has accepted this proposal and the Security Council has an opportunity to speak with one voice and call on Hamas to do the same," he said. Hamas, on the other hand, said in a statement, in part, that it "welcomes what was included in and confirmed by the Security Council resolution regarding a permanent ceasefire in Gaza." Right around the time the Security Council began voting Monday, Secretary of State Antony Blinken landed in Israel to, among other things, meet with retired Gen. Benny Gantz.
Persons: Eyad Baba, Joe Biden, Linda Thomas, Biden, Israel, Nate Evans, Benjamin Netanyahu's, Yahya Sinwar, Antony Blinken, Benny Gantz Organizations: Israeli Special Forces, Hamas, Afp, Getty, United Nations Security, U.S, Security Council, Biden, NBC, Sunday, Security Locations: Gaza, Israel, U.S, France, Britain, China, Russia, Greenfield, Rafah, Qatar, Egypt
France to hold snap elections
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrance to hold snap electionsMichelle Caruso-Cabrera joins 'Mad Money' host Jim Cramer to talk the latest out of European elections and what it means for the markets.
Persons: Michelle Caruso, Cabrera, Jim Cramer Organizations: France
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrench President Emmanuel Macron calls for snap parliamentary electionCNBC's Seema Mody joins 'Power Lunch' to discuss the election results from France and its impact on European stocks.
Persons: Emmanuel Macron, CNBC's Seema Mody Locations: France
The SPD lost support from the 2019 election, winning just 13.9% of the latest votes. Incremental gains meanwhile turned Germany's opposition, the CDU (Christian democrats), into the strongest party, with 23.7% of support. At a national level, the AfD was last ahead of the SPD and in second place overall, according to a leading general election poll. Earlier this year, one of Krah's employees who was based in the European Parliament was arrested for allegedly spying on the parliament for China. watch nowThe AfD's second-in-line for the European Parliament, Petr Bystron, faced allegations of bribery and money laundering, which were linked to Russia and to spreading pro-Kremlin propaganda.
Persons: Olaf Scholz, Koenig Heinrich, Ying Tang, Maximilian Krah, Krah, Petr Bystron, What's, Scholz, Marcel Fratzscher, Scholz's, Emmanuel Macron, Fratzscher, Holger Schmieding Organizations: SPD, Union, Scholz's SPD, Greens, CDU, Nazi regime's SS, Parliament, ZDF, German Institute for Economic Research, CNBC, Deutsche Bank Locations: Duisburg, Germany, France's Rassemblement, China, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacron will be making a 'huge political gamble' with French snap elections: AnalystDaniel Hamilton, senior fellow at the Foreign Policy Institute of Johns Hopkins University SAIS, discusses the results of the European elections.
Persons: Daniel Hamilton, Johns Hopkins University SAIS Organizations: Foreign, Institute, Johns Hopkins University
Chesnot | Getty Images News | Getty ImagesFrench President Emmanuel Macron's decision to call a snap national election after a surge for his far-right rivals is a high-stakes move and a huge political gamble, analysts say. Macron's decision to call a snap parliamentary vote comes after the right-wing National Rally (RN) party, led by Marine Le Pen, won around 31% of the vote in Sunday's European Parliament election. That was more than double the 14.6% seen for Macron's pro-European and centrist Renaissance Party and its allies. France's CAC 40 slumped 1.8% in the early hours of trading Monday morning with French banks trading sharply lower. "This is an essential time for clarification," Macron said in a national address Sunday evening as he announced his decision to dissolve parliament.
Persons: Emmanuel Macron, Emmanuel Macron's, Macron, Le Pen, Macron —, , Daniel Hamilton, Johns Hopkins University SAIS, Antonio Barroso, Teneo, Barroso, Le, Douglas Yates, Yates Organizations: Getty, Getty Images, Marine, Sunday's, Renaissance Party, CAC, BNP, Societe Generale, Foreign, Institute, Johns Hopkins University, CNBC, Research, National Assembly, American Graduate School Locations: Chesnot, France, Paris
Far-right parties across the continent had strong showings, but their momentum did not cause the center ground of European politics to cave in – as many had predicted. Those gains did materialize; far-right groups were expected to secure a record number of seats in the European Parliament, dealing a major blow to the continent’s establishment leaders. Most of the far-right gains were concentrated in countries that elect large numbers of seats: France, Italy and Germany. Several other far-right parties are among the non-aligned (NI) group, predicted to secure 45 seats. The center holdsDespite a far-right surge, the centrist European People’s Party (EPP) was the biggest single winner on Sunday night.
Persons: , Maximilian Krah, Ursula von der Leyen, , Von der Leyen, ” Von der Leyen, Emmanuel Macron, Marine Le, ” Macron, Marion Maréchal, Jordan Bardella, Alexander De Croo, ” De Croo, Meloni, Tusk, Giorgia Meloni, Brothers, Benito Mussolini, von der Leyen, Donald Tusk’s, Viktor Orbán, Bas Organizations: CNN, Green, Nazi, European People’s Party, EPP, Progressive Alliance of Socialists, Commission, Ukraine, Marine, Assembly, French, Ministry, Italy’s, Italy, Law and Justice, PiS, European, Fidesz, Greens, Bas Eickhout, EFA, European Green Party, European Commission Locations: , France, Europe, Italy, Germany, Brussels, France’s, , Ukraine, Poland
On the face of it, there is little logic in calling an election from a position of great weakness. But that is what President Emmanuel Macron has done by calling a snap parliamentary election in France on the back of a humiliation by the far right. Instead, Mr. Macron, who became president at 39 in 2017 by being a risk taker, chose to gamble that France, having voted one way on Sunday, will vote another in a few weeks. “I am astonished, like almost everyone else,” said Alain Duhamel, the prominent author of “Emmanuel the Bold,” a book about Mr. Macron. “It’s not madness, it’s not despair, but it is a huge risk from an impetuous man who prefers taking the initiative to being subjected to events.”
Persons: Emmanuel Macron, Jordan Bardella, Macron, , , Alain Duhamel, “ Emmanuel, Bold Organizations: National, of Locations: France
Euro slips to one-month low as Macron calls French election
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: +4 min
It was last down 0.24% at $1.0776 as investors weighed the implications of renewed political uncertainty in the euro zone's second-biggest economy in a key election year. "But the exchange rate is still more likely to be influenced by this week's U.S. inflation data and FOMC meeting." The jobs data led traders to once again shift their expectations of when the Fed will cut rates and by how much. Markets are now pricing in 36 basis points of cuts this year compared to nearly 50 bps — or at least two cuts — before the jobs data. U.S. inflation data is also due on Wednesday.
Persons: Emmanuel Macron, Macron, Mansoor Mohi, Uddin, Ryan Brandham, Jerome Powell, Marc Chandler, Sterling Organizations: European Union, Federal Reserve, Bank Of Singapore, European Central Bank, Reuters, North America, Validus Risk, Bannockburn Global, The Bank of Japan Locations: European, Asia, France's, U.S, ., Bannockburn, New York
That's significantly lower than the 71 seats the Greens/EFA secured when the green faction enjoyed its strongest ever showing five years ago. Nationalist and far-right parties — traditionally skeptical of climate issues — have also been vocal critics of green policies. Bas Eickhout Lead candidate for the Green PartyBas Eickhout, lead candidate for the Green Party, said that support for the far-right parties across the bloc could jeopardize Europe's progress on climate action. Green Deal 'cannot go back'Ahead of the vote, researchers warned that the outcome of the European elections was likely to put significant pressure on the European Green Deal, the region's showcase carbon neutrality program. Which means [the] Green Deal cannot go back, but we are prepared to give it this additional twist, which is a Green Deal, but taking care of the transitions," Marques told CNBC's Silvia Amaro.
Persons: Emmanuel Macron, , we're, Eickhout, CNBC's Silvia Amaro, Ricarda Lang, Grünen, Terry Reintke, Omid, Reintke, Pedro Marques, Marques, Jorg Asmussen, Asmussen, CNBC's Annette Weisbach, John Macdougall Organizations: Afp, Getty, European Free Alliance, Greens, EFA, Democracy, European Union, European Conservatives, Social Democrats, Free Democrats, French, Union, Nationalist, Bas Eickhout, Green Party, Green, Green Deal, Socialist, Democrats Group, German Insurance Association Locations: The Hague, Germany, Austria, France, Bas, China, United States, Europe, European, Berlin's Columbiahalle, Denmark, Netherlands, Sweden, Finland, Croatia, Latvia, Slovenia, Lithuania, EU, den Linden, Berlin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrench snap election 'akin to the Brexit vote,' Allianz economist saysLudovic Subran, chief economist at Allianz, says French President Emmanuel Macron has tied his future to the future of Europe after calling a snap election following steep losses for his party at the EU elections.
Persons: Ludovic Subran, Emmanuel Macron Organizations: Allianz Locations: Europe
President Emmanuel Macron threw French politics into disarray on Sunday when he unexpectedly called for snap elections. The surprise move came after his party was battered by the far right in European Parliament elections. Mr. Macron dissolved the lower house of France’s Parliament and said the first round of legislative elections would be held on June 30. France now finds itself in unpredictable territory, with the future of Mr. Macron’s second term potentially at stake. Mr. Macron’s centrist Renaissance party came in a distant second, with about 14.6 percent.
Persons: Emmanuel Macron, Macron, Macron’s, Jordan Bardella Organizations: National Rally, Marine, Renaissance Locations: France
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'That's his gamble': Professor digests possible reasons behind Macron's snap electionDouglas Yates, professor at the American Graduate School in Paris, says everyone was shocked by the decision of French President Emmanuel Macron to call a snap parliamentary election after the European Parliament election.
Persons: digests, Douglas Yates, Emmanuel Macron Organizations: American Graduate School Locations: Paris
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