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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe believe markets will still have faith in the European project, says Portugal finance ministerPortuguese Finance Minister Joaquim Miranda Sarmento joins CNBC's Silvia Amaro on "Street Signs Europe" ahead of the ECOFIN meeting in Luxembourg.
Persons: Joaquim Miranda Sarmento, CNBC's Silvia Amaro Organizations: Portuguese Locations: Portugal, Luxembourg
The change did not mean a cessation of fighting in the southern Gaza Strip, that statement said, adding that the campaign in the southernmost city of Rafah was continuing. The whipsaw statements appeared to reflect the competing pressures facing Mr. Netanyahu, as he juggles demands from the Biden administration and elsewhere around the globe with those of his own hawkish government. But Mr. Netanyahu insinuated that he did not learn of the plans until Sunday morning. Image Children waiting for food in Khan Younis, southern Gaza Strip, on Saturday. Credit... Haitham Imad/EPA, via Shutterstock“It’s classic Bibi,” said Amos Harel, the military affairs analyst for the left-leaning Haaretz newspaper, referring to Mr. Netanyahu by his nickname.
Persons: Benjamin Netanyahu, Netanyahu, Biden, , Khan Younis, Haitham Imad, Bibi, , Amos Harel, ” Mr, Harel, Shani Sasson, Ms, Sasson, , Eid, Omar Al, Yoav Gallant, Gadi, Benny Gantz, Mr, Eisenkot, Netanyahu’s, Itamar Ben, Gvir, Ben, Waseem Mahmoud, Amir Levy, Bezalel Smotrich, Gabby Sobelman Organizations: Military, ., , Mr, Cogat, United Nations Security Council, Agence France, International Criminal, Israel’s, Hamas Locations: Gaza, Rafah, Khan, Israel, Gaza City, The Hague, Egypt, Beit Jann
CNN —Israeli Prime Minister Benjamin Netanyahu has disbanded the country’s war cabinet, an Israeli official has told CNN, just over a week after opposition leader Benny Gantz withdrew from the body. Announcing his “complex and painful decision” to leave the war cabinet on June 9, Gantz said, “Netanyahu prevents us from moving forward to a real victory [in Gaza].” Eisenkot also quit the war cabinet. By dismantling the cabinet, Netanyahu avoids having to accede to that demand – or reject it. Another interpretation is that without Gantz – and Eisenkot – in it, there was no longer any point in keeping the war cabinet going. Instead, an Israeli official tells CNN, Netanyahu will in future hold smaller forums to discuss sensitive matters relating to the war with Hamas.
Persons: Benjamin Netanyahu, Benny Gantz, Netanyahu “, Netanyahu, Gantz, Bezalel Smotrich, Itamar Ben, Yoav Gallant, Ron Dermer, Gadi, ” Ben, “ Netanyahu, ” Eisenkot, hesitancy, , ” Gantz, Ben, Gvir, Gantz – Organizations: CNN, Israeli, Finance, National Security, Defense Locations: Gaza
The change did not mean a cessation of fighting in the southern Gaza Strip, that statement said, adding that the campaign in the southernmost city of Rafah was continuing. The whipsaw statements appeared to reflect the competing pressures facing Mr. Netanyahu, as he juggles demands from the Biden administration and elsewhere around the globe with those of his own hawkish government. But Mr. Netanyahu insinuated that he did not learn of the plans until Sunday morning. Image Children waiting for food in Khan Younis, southern Gaza Strip, on Saturday. At least 10 Israeli soldiers were killed in combat this weekend and an 11th died of wounds sustained days earlier.
Persons: Benjamin Netanyahu, Netanyahu, Biden, , Khan Younis, Haitham Imad, Bibi, , Amos Harel, ” Mr, Harel, Shani Sasson, Ms, Sasson, , Eid, Omar Al, Yoav Gallant, Gadi, Benny Gantz, Mr, Eisenkot, Netanyahu’s, Itamar Ben, Gvir, Ben, Waseem Mahmoud, Amir Levy, Bezalel Smotrich, Gabby Sobelman Organizations: Military, ., , Mr, Cogat, United Nations Security Council, Agence France, International Criminal, Israel’s, Hamas Locations: Gaza, Rafah, Khan, Israel, Gaza City, The Hague, Egypt, Beit Jann
CNN —Israel’s government says it is looking to “strengthen” Jewish settlements in the occupied West Bank after several countries unilaterally recognized a Palestinian state. The statement also said Israel would look at what actions to take against the Palestinian Authority as it took actions against Israel in international bodies. Earlier this month, the Palestinian Authority applied to join South Africa’s case against Israel at the International Court of Justice. Israel’s far-right finance minister, Bezalel Smotrich, said in May that Israel should approve 10,000 settlements in the West Bank, establish a new settlement for every country that recognizes a state of Palestine, and cancel travel permits for Palestinian Authority officials. It is unclear if any of these radical ideas are part of the proposals currently under consideration in Israel.
Persons: CNN —, Israel biblically, Benjamin Netanyahu’s, Israel’s, Bezalel Smotrich, Israel Organizations: CNN, West Bank, Minister’s, Ministry, Palestinian Authority, Israel, International Court of Justice Locations: Palestinian, Israel, Judea, Samaria, Norway, Ireland, Spain, Slovenia, Palestine
A growing realization that President Emmanuel Macron’s decision to hold snap elections in France may backfire sent the French stock market tumbling on Friday to its lowest level in two years, and prompted warnings from the French finance minister that the economy risks stumbling into a financial crisis. Amid growing signs that Marine Le Pen’s far-right party may be ushered to the brink of power, France’s benchmark stock index, the CAC 40, slumped 2.7 percent. The losses capped a weeklong losing streak that sent shares down more than 6 percent, wiping out all the bourse’s gains since the start of the year. Among the hardest hit stocks were France’s biggest banks, including BNP Paribas and Société Générale, which hold hefty amounts of French sovereign debt. Equally worrisome, the risk premium that investors demand to hold French government bonds over Germany’s, a eurozone benchmark, rose to the highest since 2017, the biggest weekly jump since 2012, when the euro debt crisis was underway.
Persons: Emmanuel Macron’s, Société Organizations: CAC, BNP Locations: France
President Emmanuel Macron called the snap elections Sunday after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire. “This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said. The National Rally has promised to raise public spending and slash VAT on electricity and fuel.
Persons: Emmanuel Macron, Pen, , Truss, Bruno Le Maire, Le Maire, , ” Le Maire, ’ jitters, Ludovic Marin, La Tribune Dimanche, Frank Gill, Moody’s, ” Joseph Ataman, Mark Thompson Organizations: London CNN —, EU, National, , AAA, Getty Images Stock, haven’t, CNN, BFMTV, La Tribune, National Rally, European Central Bank, ECB Locations: France, ‘ France, French, Portugal, Europe, Italy, AFP, Paris, London
With picture-postcard villages, country pubs and an unmistakable air of affluence, there are few greater strongholds for Britain’s Conservative Party than Surrey, where voters have chosen Jeremy Hunt, the current chancellor of the Exchequer, as a lawmaker in five consecutive elections. But even he admits that he may be out of Parliament after July 4. “I’m very well known locally, I’m knocking on doors, I’m talking to people and I’ve got a certain following from my 19 years as a member of Parliament,” Mr. Hunt told The New York Times last week as he prepared to appeal for votes in Chiddingfold, 50 miles southwest of London. “But this is definitely the toughest it’s ever been.”The fact that the second most powerful man in the government now sees himself as the underdog is testament to the scale of the threat facing the Conservatives at next month’s general election. Angry at economic stagnation, the impact of Brexit and a crisis in public services after years of government austerity, traditional Tory voters are deserting the party in the prosperous English districts that have long provided its most reliable support.
Persons: Jeremy Hunt, , I’ve, ” Mr, Hunt Organizations: Britain’s Conservative Party, Surrey, New York Times, Conservatives Locations: Chiddingfold, London
Mr. Biden and Mr. Zelensky will meet on Thursday and sign a security agreement, said Jake Sullivan, Mr. Biden’s national security adviser. Mr. Biden faces the hurdle of convincing his allies, starting with Mr. Zelensky, that the United States plans to stay in the fight with Ukraine, no matter what happens in November. Mr. Biden told Mr. Zelensky last week, in France, that “I apologize for the weeks of not knowing what was going to pass,” and put the onus on Republicans in Congress. During a trip to Normandy last week, Mr. Biden appeared to have persuaded France, one of the last holdouts, to support the deal. “The administration has been quick to get aid to Ukraine once Congress moved, and that’s to its credit,” he said.
Persons: Biden, Volodymyr Zelensky, Mr, Zelensky, Jake Sullivan, , ” Mr, Sullivan, we’ll, , Vladimir Putin, Pope Francis, Donald J, Trump, Rishi Sunak, Emmanuel Macron, Biden’s, Vladimir V, Putin, Claudia Greco, John E . Herbst, Evelyn Farkas, Barack Obama, Ms, Farkas, ” Alan Rappeport Organizations: Ukraine, U.S, Kremlin, Group, Air Force, , hobble, NATO, Mr, Reuters, European, World Bank, Eurasia Center, Atlantic Council, United, McCain Institute, Arizona State University Locations: Ukraine, United States, Italy, Israel, Russia, hobble Russia, Europe, France, Congress, Savelletri, Normandy, Belgium’s, U.S, Eurasia
CNN —A United Nations inquiry into the first few months of the war in Gaza has found both Israel and Hamas committed war crimes and grave violations of international law, in the body’s first in-depth investigation into the October 7 attacks and the ensuing conflict. Rockets are launched by Hamas from the Gaza Strip towards Israel on October 7, 2023. Hatem Moussa/APIn the first 2.5 months of the conflict, the commission found, Israel committed war crimes as well as crimes against humanity – the latter defined as a widespread, systemic attack directed at a civilian population. The International Criminal Court announced last month it was seeking arrest warrants for several top Hamas and Israeli leaders, including Israeli Prime Minister Benjamin Netanyahu on charges of war crimes and crimes against humanity. “It is imperative that all those who have committed crimes be held accountable,” said commission chair Navi Pillay.
Persons: Hatem Moussa, Israel, , Israel’s, maiming, Benjamin Netanyahu, , Netanyahu, West Bank –, , Said Khatib, Mahmud Hams, Nir, Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Yoav Gallant, Gilad Erdan, Erdan, Anwar Organizations: CNN, United, The United Nations Commission, Rockets, AP, Criminal, Palestinian, West Bank, Getty, Al, Israel Defense Forces, UN, Gaza, National, Finance, UN Human Rights, Palestinian Authority, Hamas, Human Rights, Israel, UN Security Council, Assembly, United Nations Relief, Works Agency, Anwar Amro, UNRWA, Navi Pillay Locations: United Nations, Gaza, Israel, Gaza City, Rafah, AFP, Aqsa, Israel’s, Palestinian, United States, Lebanese, Beirut, East Jerusalem
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 EmailGerman coalition government will continue to 'muddle through,' Jörg Asmussen saysJörg Asmussen, former ECB board member and former German deputy finance minister, discusses the outcome of the EU election in Germany.
Persons: Asmussen, Jörg Asmussen Organizations: ECB Locations: Germany
When Jordan Bardella, the leader of the far-right National Rally party, called on Macron to dissolve the French national parliament on Sunday night, it seemed like political posturing, riding high on his victory in European polls. Calling the far right’s bluffMacron will try to rally the right and left, urging their supporters to come together and vote against the far right, but there’s no knowing if it’ll pay off. The last time a French president dissolved the country’s lower house, the National Assembly, was in 1997. French far-right leader Marine Le Pen arrives at the National Rally party headquarters on Monday, June 10, 2024 in Paris. This could see voters of different stripes banding together to oppose a candidate from the far right.
Persons: parry, Emmanuel Macron, Jordan Bardella, , Macron, Jacques Chirac, Stephane Séjourné, Séjourné, ” Manon Aubry, Jean, Luc Mélenchon, Marine Le Pen, Thomas Padilla, Le Pen, Pen, Bruno Le Maire, Hannah McKay, he’ll, It’ll, ” Macron, Bardella, Yaël Braun Organizations: Paris CNN, National Assembly, French, Radio France, France, National Rally, French Finance, National, RTL, Getty, Macron’s, Locations: France, Republic, Macron, Gaza, Paris, Europe, Macron’s, Le Touquet
Israeli Airstrike on School Kills Dozens in Gaza
  + stars: | 2024-06-06 | by ( Victoria Kim | ) www.nytimes.com   time to read: +4 min
One of the most intense fires threatened homes in the Israeli town of Kiryat Shmona, near the Lebanese border, according to Israeli news outlets. That city, like much of the Israeli border area, has been largely evacuated for months, and no casualties were reported. The Israeli military said that two drones landed in the area of Hurfeish, a Druse village whose citizens are primarily part of an Arab-Israeli minority in Israel. No sirens sounded warning of the attack, according to the Israeli military, which said it was reviewing the incident. The talks are aimed at moving Hezbollah forces away from the border, according to Lebanese and Israeli officials, and other participants.
Persons: Benjamin Netanyahu, Israel, Netanyahu, , Matthew Miller, Biden, , they’ve, Mr, Miller, Herzi Halevi, ” Bezalel Smotrich, Adam Rasgon, Ephrat Livni Organizations: Israel, Wednesday, Hezbollah, Hamas, State Department Locations: Lebanon, Gaza, Israel, Iranian, Lebanese, Kiryat Shmona, Hurfeish, ” Israel
Why Israel-Hezbollah tensions risk boiling over now
  + stars: | 2024-06-06 | by ( Nadeen Ebrahim | ) edition.cnn.com   time to read: +9 min
In Lebanon, Hezbollah is officially considered a “resistance” group tasked with confronting Israel, which Beirut classifies as an enemy state. Since then, the two sides have traded fire sporadically, but tensions boiled over in 2006 when Israel went to war in southern Lebanon after Hezbollah kidnapped two Israeli soldiers. More than 1,000 Lebanese were killed in that conflict, mostly civilians, as well as 49 Israeli civilians and 121 soldiers. The military capability of the Lebanese group has grown since 2006, when it relied largely on inaccurate Soviet-era Katyusha rockets. Hezbollah has fired 35 kilometers into Israel, while Israel has targeted areas of Lebanon more than 120 kilometers north.
Persons: CNN —, Israel, Rina Castelnuovo, Hassan Nasrallah, Heiko Wimmen, , Ramot Naftali, Peter Lerner, ” Amal Saad, ” Saad, Benjamin Netanyahu’s, Ronni, Netanyahu, Bezalel Smotrich, Benjamin Netanyahu, Amir Cohen, ” Naim Qassem, Hezbollah’s, Al, ” Qassem, Jack Guez, Itamar Ben Gvir, Yair Lapid, ” Lapid, Matthew Miller, Biden, , ” Shaked, Iran – Organizations: CNN, Hezbollah, Lebanese, Crisis, Wednesday, Israel Defense Forces, Cardiff University, Truman Institute, Hebrew University of Jerusalem, Yad Vashem, Holocaust, Reuters, Crisis Group, Getty, Lebanese Ministry of Public Health, National, State Department Locations: CNN — Israel, Lebanese Iran, Israel, Lebanon, Beirut, Palestinian, Gaza, Iraq, Syria, Brussels, Israeli, Cross, Jerusalem, Kiryat Shmona, Lebanese, Al Jazeera, AFP, United States, Iran
Israel attributed the blaze to rocket fire from southern Lebanon, where Hezbollah said it had launched a “swarm of drones” at Israeli military sites. On Wednesday, Israeli Prime Minister Benjamin Netanyahu visited the northern city of Kiryat Shmona near the Lebanese border, saying that Israel is prepared for “very intense action” in the north. Israel and Hezbollah in Lebanon have been trading fire since the start of Israel’s war on Hamas in Gaza in October. In April, the IDF said it is “preparing to move from defense to attack,” referring to operations on the northern border. Ten Israeli civilians and 18 soldiers have also been killed on the border, the Israeli military said.
Persons: Benjamin Netanyahu, , Staff Herzi Halevi, ” Halevi, Naim Qassem, Hezbollah’s, Al, Kiryat Shmona, ” Amos Harel, of National Security Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Jack Guez, Gantz, that’s, ” Harel Organizations: Abu Dhabi CNN, Hezbollah, Israel Defense Forces, Staff, Lebanese, Gaza, GPO, IDF, Reuters, Lebanese Ministry of Public Health, CNN, Haaretz, of National Security, , , Getty, Israel Locations: Jerusalem, Abu Dhabi, Israel, Lebanon, Iran, Kiryat Shmona, Lebanese, , Gaza, Al Jazeera, Israeli, Alma, Golan, Syria, AFP, An Iran, East, United States
Jerusalem CNN —Israeli Prime Minister Benjamin Netanyahu may soon be forced to choose: Agree to a ceasefire deal with Hamas or keep his government in power. “I think that Bibi is cornered now,” said Aviv Bushinsky, a former adviser to Netanyahu, using the prime minister’s nickname. While Biden squarely framed the proposal as a way to end the war, Netanyahu is insisting Israel will not end the war until and unless Hamas is eliminated. His efforts to convince the far-right ministers in order to avoid choosing between a ceasefire deal and the survival of his government have so far fallen flat. Netanyahu is confronting the choice between his government’s survival and a hostage deal at a time when his political fortunes have begun to improve.
Persons: Benjamin Netanyahu, Netanyahu, Hamas’s, , Joe Biden, – Netanyahu, Bibi, Aviv, Biden, Israel, Itamar Ben Gvir, Ben Gvir, Bezalel Smotrich don’t, Yair Lapid, Benny Gantz, Amir Levy, ” Biden, I’ve, Yahya Sinwar Organizations: Jerusalem CNN, Israeli, Hamas, National, Unity, Likud, Israel’s, Monday Locations: Jerusalem, Israel, Tel Aviv, Gaza
CNN —Two far-right Israeli ministers have threatened to resign and bring down the governing coalition of Prime Minister Benjamin Netanyahu if he accepts a peace proposal laid out by US President Joe Biden. “It’s time for this war to end,” he said, a clear indication that – as far as he is concerned – Israel’s war goals have been met. But the Israel government’s two most prominent far-right members, Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben Gvir, made it explicitly clear they reject an immediate ceasefire. The plan has been widely welcomed, with the UN and other international powers urging Israel and Hamas to accept it. Netanyahu’s government is facing growing international calls to end the war in Gaza as the conflict approaches its ninth month.
Persons: Benjamin Netanyahu, Joe Biden, Biden, , , Bezalel Smotrich, Itamar Ben Gvir, Smotrich, Netanyahu, ” Smotrich, Ben Gvir, Otzma, Israel, ” Netanyahu, Yair Lapid Organizations: CNN, White, Hamas, Finance, National Security, ” National Security, UN, Saturday Locations: Gaza, Israel, Lebanon,
An aide to Israeli Prime Minister Benjamin Netanyahu said in an interview with Britain's Sunday Times that Israel had agreed to the framework for President Joe Biden's plan to bring an end to the war in Gaza, though he said it was "not a good deal." He added that Israel's conditions "have not changed" — the release of the hostages and the destruction of Hamas. "Indefinite war in pursuit of an unidentified notion of total victory will only bog down Israel in Gaza," Biden said. U.S. Secretary of State Antony Blinken made calls to Arab leaders on Saturday affirming their commitment to the cease-fire. Tens of thousands of Israelis gathered in Tel Aviv on Saturday night to urge the government to accept a cease-fire.
Persons: Benjamin Netanyahu, Israel, Joe Biden's, Biden, Netanyahu, Ophir Falk, — it's, Biden's, Bezalel Smotrich, Itamar Ben Gvir, Yair Lapid, Ben Gvir, Lapid, Smotrich, Laura Blumenfeld, Antony Blinken Organizations: Britain's Sunday Times, NBC News, Minister's, Sunday Times, Zionist Party, Jewish Power Party, Johns Hopkins School, International Studies, U.S, Families Locations: Gaza, Israel, Hamas, East, Washington, Spain, France, Germany, Belgium, Qatar, Egypt, U.S, Tel Aviv
Dollar steadies before inflation test; yen brushes off Tokyo CPI
  + stars: | 2024-05-31 | by ( ) www.cnbc.com   time to read: +4 min
The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data. The dollar index , which measures the currency against six major peers, consolidated around 104.82 after dipping as low as 104.63 overnight. Softer U.S. consumer price inflation data earlier in May rekindled rate cut expectations for this year, weakening the dollar across the board and setting it on track to post its first monthly losses in 2024. "All told, the Tokyo CPI leaves us confident that nationwide underlying inflation will fall below 2% as soon as July." Price data for the euro zone is due on Friday, following a stronger-than-expected April inflation reading for Germany on Wednesday.
Persons: John Williams, Matt Simpson, Index's Simpson, Marcel Thieliant, Sterling, bitcoin Organizations: Treasury, greenback, New York Fed, Index, PCE, Capital Economics, Japan's Ministry of Finance, Germany Locations: U.S, Tokyo, Asia
AI everywhere at Viva TechAt Viva Tech, AI was everywhere. France boasts a strong AI research and development ecosystem, home to key facilities like the Facebook AI Research center from Meta and Google's AI research hub in Paris, as well as leading universities. He referred to H's mammoth funding round as an example of the momentum surrounding French AI right now. watch nowLevy said roughly 40% of the tech demos at Viva Tech were AI. He said that Google's recently introduced Gemma AI, a lightweight, open-source model, was developed heavily at the U.S. internet giant's Paris AI hub.
Persons: Emmanuel Macron, Yoan Valat, Eric Schmidt, Porte, Bruno Le Maire, CNBC's Arjun Kharpal, Le Maire, Etienne Grass, Capgemini, Imran Ghory, Ghory, CNBC's Andrew Ross Sorkin, Macron, Mistral, Yann LeCun, James Manyika, Google's, Maurice Levy, Karen Tso, Levy, Google's Manyika, Gemma AI Organizations: Afp, Getty, PARIS —, Viva Technology, Microsoft, Viva Tech, L'Oreal, Porte de, Facebook, CNBC, Blossom, Meta, Google, Paris, Groupe, U.S, Innovation Locations: Elysee, Paris, France, PARIS — France, China, Europe, Meta, French, U.S, Israel, Dealroom
New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan's Institute for Monetary and Economic Studies. Data from Japan's Ministry of Finance on Friday confirmed the country's first currency intervention since 2022, after the yen plunged to a 34-year-low in April. The ministry on Friday stated Japan spent 9.7885 trillion yen ($62.25 billion) on currency intervention between April 26 and May 29, according to a Google-translated statement. Japan last intervened to stabilize the currency in October 2022, when the yen fell to lows of around 152 per dollar. Authorities intervened three times that year to stabilize the currency, reportedly spending as much as a combined 9.2 trillion yen over the period.
Persons: Shunichi Suzuki, Suzuki, CNBC's Dan Murphy Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Japan's Ministry of Finance, U.S, Bank of America Global Research, Bank of Japan, Japanese Finance, Authorities Locations: Japan, London
S&P upgrades outlook on India's sovereign rating to 'positive'
  + stars: | 2024-05-30 | by ( ) www.cnbc.com   time to read: +2 min
Narendra Modi, India's prime minister, arrives at the Bhartiya Janata Party (BJP) headquarters in New Delhi, India, on Sunday, Dec. 3, 2023. S&P Global Ratings raised India's sovereign rating outlook to 'positive' from 'stable' while retaining the rating at 'BBB-', saying on Wednesday the country's robust economic expansion was having a constructive impact on its credit metrics. "This reflects India's solid growth performance and a promising economic outlook for the coming years," said in a social media post. The rating agency's positive outlook on India is predicated on its robust economic growth, pronounced improvement in the quality of government spending, and political commitment to fiscal consolidation, it said. India's weak fiscal settings had always been the most vulnerable part of its sovereign ratings profile, S&P said.
Persons: Narendra Modi, India's, Nirmala Sitharaman Organizations: Bhartiya Janata Party, BJP, Bharatiya Janata Party Locations: New Delhi, India
Royal Mail's parent company International Distributions Services said on Wednesday it had agreed to a 3.57 billion pound ($4.55 billion) formal takeover offer by Czech billionaire Daniel Kretinsky. The offer valued IDS, which owns Royal Mail and international parcels network GLS, at 370 pence per share. Royal Mail has been trying to transform itself into a parcel-led business as letter volumes declined sharply over the years. Kretinsky has said that private investment in Royal Mail was crucial given its challenging situation with poor service delivery, slow transformation and increasing competition. Any takeover bid for Royal Mail would be subject to "normal" national security scrutiny but it would not be opposed in principle, Finance Minister Jeremy Hunt said earlier.
Persons: Daniel Kretinsky, Keith Williams, Kretinsky, Jeremy Hunt, Jonathan Reynolds Organizations: International, Services, Royal Mail, Service, Government, IDS, Labour, VESA Equity Locations: Czech, London
Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.
Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London
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