YGlobalBiz Education
636 views | +2 today
Follow
YGlobalBiz Education
International Business, a part of every day life, business, and a must add curriculum to any field of education!
Curated by D.B.
Your new post is loading...
Your new post is loading...
Scooped by D.B.
Scoop.it!

Justice Department Officials Warned FBI’s Comey About Sending Letter on Clinton Emails

Justice Department Officials Warned FBI’s Comey About Sending Letter on Clinton Emails | YGlobalBiz Education | Scoop.it
Justice Department officials warned FBI Director James Comey that his letter to Congress about newly discovered emails potentially related to an investigation of Hillary Clinton would contradict the department’s long-established election policy, according to people familiar with the discussions.

Mr. Comey acted “independently” when he decided to send the letter, the people said.

The Federal Bureau of Investigation is reviewing newly obtained emails linked to its previously closed investigation into Mrs. Clinton’s handling of classified information as secretary of state. Friday’s announcement came just days before voters to go to the polls to choose a new president.

Before the letter was sent, the FBI told senior Justice Department officials what Mr. Comey planned to do, and those officials warned that doing so would contradict the department’s rules against taking steps that could influence—or be seen as trying to influence—an election, these people said.

Mr. Comey, however, decided it was better to share the information rather than face possibly greater criticism for keeping quiet until after the election, according to the people familiar with the discussions. FBI officials were also concerned that if they didn’t act, the information might leak out anyway, in a less controlled manner, these people said.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Belgium Reaches Agreement to Back Stalled EU-Canada Trade Deal

Belgium Reaches Agreement to Back Stalled EU-Canada Trade Deal | YGlobalBiz Education | Scoop.it
A planned trade deal between the EU and Canada overcame a key hurdle after Belgium said it would approve the accord, marking the end of a contentious process that threatened to derail the EU’s trade agenda.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Armenian parliament passes financial market laws

Armenian parliament passes financial market laws | YGlobalBiz Education | Scoop.it
The Armenian parliament has passed a package of laws regulating the local financial markets and amendments to the law on the securities market, following close cooperation with the European Bank for Reconstruction and Development (EBRD). The EBRD welcomed the decision as a “milestone”.

The new law provides for the enforceability of derivatives transactions, including netting, close-out netting and financial collaterals, amends over 17 laws and introduces more than 15 new regulations to Armenia’s financial legislation, including settlement finality.

The EBRD provided technical cooperation to the Central Bank of Armenia for the drafting of the package. Experts, funded by the EBRD-managed Shareholder Special Fund, worked with the Central Bank on the legal reform. This project was also coordinated with, and supported by, the International Swaps and Derivatives Association (ISDA).
more...
No comment yet.
Scooped by D.B.
Scoop.it!

China’s Xi Jinping Tightens His Hold on Communist Party

China’s Xi Jinping Tightens His Hold on Communist Party | YGlobalBiz Education | Scoop.it
A meeting of several hundred of the party’s most senior members on Thursday conferred upon Mr. Xi an arcane designation, declaring him the “core” of the party’s leadership. The term was used in the past for Mao Zedong and two of his successors but not Mr. Xi’s immediate predecessor.

Gaining the designation doesn’t leave Mr. Xi unassailable, Chinese political scientists said. He still faces resistance to his policies from pockets within the party, military and state industries.

Being named the “core” cements his pre-eminent status, as the party prepares for a pivotal congress a year from now that is expected to give Mr. Xi a second five-year term. Some political observers say Mr. Xi is trying to command that process to surround himself with allies, sideline rivals and ensure his rule is less fettered.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Reaction to AT&T-Time Warner Deal Shows Presidency’s Growing Reach

Reaction to AT&T-Time Warner Deal Shows Presidency’s Growing Reach | YGlobalBiz Education | Scoop.it
Before investors could pass judgment on AT&T Inc.’s proposed acquisition of Time Warner Inc., two other stakeholders beat them to it. Republican presidential nominee Donald Trump said he’d block the merger. Tim Kaine, the running mate of Democratic nominee Hillary Clinton, said he, too, had concerns.

No surprise, then, that the stock market puts less than 50% odds on the merger’s completion. AT&T shouldn’t take it personally. It is simply the latest instance of how large the imperial presidency now looms in the lives of corporate America.

Presidents routinely complain they don’t have much sway over the economy: Congress controls the budget, the Federal Reserve sets interest rates, global markets determine the price of oil.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Calais ‘Jungle’ Camp Set Alight as Migrants Leave

Calais ‘Jungle’ Camp Set Alight as Migrants Leave | YGlobalBiz Education | Scoop.it

The French government’s carefully laid plan to end the migrant crisis in Calais was thrown into disarray Wednesday when swaths of the tent city known as the Jungle were set ablaze.

The fires scattered scores of migrants who were refusing to board buses bound for shelters in other parts of France. As plumes of smoke rose from the squalid makeshift camp—located on the French side of the English Channel—many migrants were hunkering down in the Jungle for the night.

“I’m going to England. No France, no Germany, no Belgium,” said Omar Muhammad, a 27-year-old from Sudan who has been living in the camp for six months. “If the police force me out, I’ll come back.”

The widespread defiance suggests France faces an uphill battle in persuading migrants to abandon the area, which serves as the continent’s main gateway to Britain.

more...
No comment yet.
Scooped by D.B.
Scoop.it!

National Intelligence Director Says Data Suggests ‘Nonstate Actor’ Was Behind Cyberattack

National Intelligence Director Says Data Suggests ‘Nonstate Actor’ Was Behind Cyberattack | YGlobalBiz Education | Scoop.it
National Intelligence Director James Clapper said Tuesday that it appeared a “nonstate actor” was behind the attack, which used a vast collection of internet-linked devices to create a flood of traffic that essentially overwhelmed a key cog in the internet.

Speaking at the Council on Foreign Relations in New York on Tuesday, Mr. Clapper said investigators were gathering a lot of data, and that preliminary indications were that it was a nonstate actor.

Network experts studying the attack are also starting to rule out usual suspects, such as national governments and online blackmailers. That suggests, they said, the attack was another cry for attention by online attack-for-hire services and their customers looking to make a statement.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Chinese Debt Soars Into Space

Chinese Debt Soars Into Space | YGlobalBiz Education | Scoop.it
This financial jolt—monetary expansion has been larger than quantitative easing in the U.S., eurozone, U.K. and Japan combined—has considerably brightened the economic gloom.

ENLARGE
The Mongol emperor Kublai Khan impressed Marco Polo with the use of paper money but his dynasty, the Yuan, eventually succumbed to financial indiscipline and internal rebellion. PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES
A year ago, global investors were bracing for a Chinese collapse. The Shanghai stock market had crashed and capital was flooding out. The property market looked shaky and sinking factory prices and corporate profits threatened to squeeze wages and consumption. Currency speculators bet on a sharp depreciation of the yuan.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

EU, Canada Trade Deal Blocked by Belgian Opposition

EU, Canada Trade Deal Blocked by Belgian Opposition | YGlobalBiz Education | Scoop.it
Walloon lawmakers worry the deal could harm the region’s beef and pork farmers and pose a risk to environmental and labor standards. They also oppose a controversial court system for settling investment disputes, which they say would end up giving multinationals more power to sue EU governments.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Why Europe Shouldn’t Be Complacent About Brexit

Why Europe Shouldn’t Be Complacent About Brexit | YGlobalBiz Education | Scoop.it
“It would be a fatal error to assume that the negative result in the U.K. referendum represents a specifically British issue,” he said. “Today many people, not only in the U.K., think that being part of the European Union stands in the way of stability and security.”

more...
No comment yet.
Scooped by D.B.
Scoop.it!

After Brexit Vote, EU Leaders Struggle to Paper Over Divisions

After Brexit Vote, EU Leaders Struggle to Paper Over Divisions | YGlobalBiz Education | Scoop.it
When European leaders gather in Slovakia this Friday, to reflect on the future of the EU after the U.K. leaves it, they are expected to stick to modest proposals in an effort to paper over deep divisions on the way ahead.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

When Economic Doomsayers Stumble: Cautionary Tales From Brexit, Grexit and U.S. Budget Battles

When Economic Doomsayers Stumble: Cautionary Tales From Brexit, Grexit and U.S. Budget Battles | YGlobalBiz Education | Scoop.it
It’s now been two months since British voters on June 23 cast their ballots to exit from the European Union, and it’s becoming unclear if the recession so many feared will materialize—at least in the near term.

It’s worth revisiting the level of concern prior to the vote. George Osborne, the Chancellor of the Exchequer, said a vote for Brexit would cause a “DIY recession.” In the immediate aftermath of the vote, many market economists forecast recession would begin almost immediately.

In the days after the vote, global stock markets indeed fell sharply. Perhaps if it had been just a little bit worse, a broader panic would have sent things into a spiral. Instead, markets have rebounded. The FTSE 100 climbed to near-record levels by the middle of August.

Nor has the wider economy shown many signs of a coming downturn.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Italy Earthquake Devastates Several Towns, Kills Dozens

Italy Earthquake Devastates Several Towns, Kills Dozens | YGlobalBiz Education | Scoop.it
However, Italy has often failed to prepare for such disasters, say experts. According to Enzo Boschi, an expert in seismology at the University of Bologna, said Italy has lagged behind other earthquake-prone areas such as California, Japan and New Zealand in instructing the local population on how to respond to a tremor.

Moreover, extensive illegal building in Italy leaves many poorly constructed buildings especially vulnerable to quakes. And many older buildings haven’t been secured against quakes, lacking anti-seismic materials and structures.

While large Italian cities have shored up many buildings against quakes, small towns and centuries-old city centers that are common in much of Italy and hold priceless works of art often have few protections.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

EU, Canada Sign Landmark Free-Trade Agreement

EU, Canada Sign Landmark Free-Trade Agreement | YGlobalBiz Education | Scoop.it
BRUSSELS—The European Union and Canada signed a long-delayed trade deal on Sunday, formally ending a contentious approval process that threatened to derail the bloc’s entire trade agenda.

Canadian Prime Minister Justin Trudeau, European Council President Donald Tusk and European Commission President Jean-Claude Juncker called the pact “the most comprehensive, ambitious and progressive trade agreement ever negotiated by either Canada or the European Union.”
more...
No comment yet.
Scooped by D.B.
Scoop.it!

EBRD and UK promote commercial mediation in Serbia

EBRD and UK promote commercial mediation in Serbia | YGlobalBiz Education | Scoop.it
The European Bank for Reconstruction and Development (EBRD), with funding from the UK Government’s Good Governance Fund, is launching a technical cooperation programme in Serbia to strengthen the use of commercial mediation in disputes.

The programme will be directed at the legal and business community, trade organisations, the Serbian Chamber of Commerce and Industry and the Judicial Training Academy of Serbia.

While Serbia adopted a new law on mediation in 2014, the implementation is not yet complete and businesses still mostly rely on settling disputes in court rather than taking advantage of alternative dispute resolution mechanisms. This not only overloads the court system but increases time and costs to reach resolutions.

To address this issue, the Serbian Chamber of Commerce has set up a mediation centre which the EBRD project will support by providing training for professional mediators.

In cooperation with the Judicial Training Academy of Serbia, a public institution dedicated to train judges and prosecutors, the project will also help the Serbian authorities to train and accredit court staff as mediators.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

London’s City Faces a Post-Brexit Dilemma

London’s City Faces a Post-Brexit Dilemma | YGlobalBiz Education | Scoop.it
No industry cluster has better exploited the European Union’s single market than financial institutions in the City of London.

Using so-called passporting rights that allow firms based in one EU country to do business across the bloc, the City has become the overwhelmingly dominant force in European finance.

Now financial institutions based in the U.K. are resigned to losing their passport when the country leaves the bloc, probably in 2019. And the current most likely alternative arrangement would be a poor substitute that bankers say wouldn’t provide a reliable basis for doing business inside the EU.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Warplanes Hit School in Northern Syria, Killing 22

Warplanes Hit School in Northern Syria, Killing 22 | YGlobalBiz Education | Scoop.it
Schools have become common targets in the conflict, alongside hospitals and marketplaces. The bombings have driven some classrooms underground for protection.

At least 40 people were wounded in Wednesday’s attack, said local activist Qusai al-Hussein and many were in critical condition. A photo posted online Wednesday by activists in Idlib showed a dead child wrapped in a blanket with a science textbook and Dora the Explorer backpack tied to the makeshift shroud.“There is great destruction. The warplanes targeted the schools directly,” said Mr. Hussein, who blamed the Assad regime. “Books and school bags are strewn across the street. The bloodstained school bags belong to the children. This is a horrible scene.”
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Former Mexican president joins Tucson bid to expand cross-border business

Former Mexican president joins Tucson bid to expand cross-border business | YGlobalBiz Education | Scoop.it
An effort in Tucson to incubate entrepreneurs on both sides of the border now has the backing of former Mexican President Vicente Fox.

A delegation from Tucson made the partnership pitch to Fox at a meeting Tuesday at his foundation, Centro Fox, in Guanajuato, Mexico.

Fox, who was Mexico’s president from 2000 to 2006, has focused on education programs and nurturing young entrepreneurs since he left office. It was those efforts that prompted government, education and business leaders from Tucson to make the trip to Mexico.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Moving to Frankfurt After Brexit Could Be a Squeeze for Banks

Moving to Frankfurt After Brexit Could Be a Squeeze for Banks | YGlobalBiz Education | Scoop.it
The question of how much banking business will leave London—and where it will go—looms large in Britain. Anthony Browne, the head of the U.K’s banking lobby group, wrote in a newspaper op-ed this weekend that bank chiefs are “poised, quivering over the relocate” button.

Greater Frankfurt has about one million square meters of office space currently available, but only about 20% of that is in the financial district, according to JLL. Many Frankfurt offices can take fewer than 10 employees.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

GE To Make Big Push Off the Corporate Network

GE To Make Big Push Off the Corporate Network | YGlobalBiz Education | Scoop.it
The company hopes to move the majority of its 5,000 outposts worldwide off the corporate network next year in an effort to improve user experience for employees and address cybersecurity issues, GE CTO Chris Drumgoole said.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Duterte’s Fling With China Could Prove Fleeting

Duterte’s Fling With China Could Prove Fleeting | YGlobalBiz Education | Scoop.it
Washington is now stuck. It constructed an entire geopolitical strategy—the rebalancing to Asia, designed to counter China’s growing military power and influence—around a country with conflicting attitudes toward the U.S.

ENLARGE
Chinese President Xi Jinping welcomes the Philippines’ Rodrigo Duterte to Beijing last week. PHOTO: GETTY IMAGES
The “pivot” was President Obama’s signature foreign-policy initiative; Manila was the fulcrum.

Chinese bullying of smaller Southeast Asian countries, the Philippines in particular, was the justification for the policy. When Chinese coastguard vessels grabbed the Scarborough Shoal in 2012—China’s only act of outright territorial aggression in the South China Sea in recent years—the “pivot” found its cause célèbre. Former Philippine President Benigno Aquino III used the seizure to launch a legal case against China’s claims to the South China Sea in The Hague. Victory added legal strength to the “pivot’s” military muscle.

Now, as Mr. Obama prepares to leave office, the “pivot” is teetering. Failure to drive through Congress an ambitious regional trade deal he has advocated—the Trans-Pacific Partnership—could further throw it off.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Pound Drops to Three-Decade Low Against Dollar on Brexit Concerns

Pound Drops to Three-Decade Low Against Dollar on Brexit Concerns | YGlobalBiz Education | Scoop.it
The pound fell to a 31-year low against the dollar and has declined 1.9% over the past two sessions after U.K. Prime Minister Theresa May on Sunday set a March deadline to begin exiting the EU and indicated that maintaining its privileged access to the country’s largest trading partner was a lower priority than controlling immigration.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Sterling Continues to Confuse Post Brexit as Banks Row Back Bearish Forecasts

Sterling Continues to Confuse Post Brexit as Banks Row Back Bearish Forecasts | YGlobalBiz Education | Scoop.it
Now, a number of major banks are backtracking on their initial bearish predictions.

In recent days, Deutsche Bank, J.P. Morgan and Credit Suisse have all lifted their expectations of the pound. Credit Suisse now expects the pound to reach $1.34 in three months’ time, up from its previous prediction of $1.279. J.P. Morgan’s end of year forecast is up by four cents, from $1.28 to $1.32.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

U.K. Trade Deficit Narrowed After Brexit

U.K. Trade Deficit Narrowed After Brexit | YGlobalBiz Education | Scoop.it
The decrease in trade deficit was driven both by a fall in imports and a rise in exports, data showed, suggesting that the weakened pound may have played a role in the adjustment. Sterling fell sharply in the immediate aftermath of the referendum, losing some 10% against the U.S. dollar. Manufacturer surveys have suggested that this gave a boost to exports, as British products became cheaper for overseas buyers. The weakened pound may have also dampened the U.K. demand for imports.
more...
No comment yet.
Scooped by D.B.
Scoop.it!

Fed’s Dislike of Negative Interest Rates Points to Limits of Stimulus Measures

Fed’s Dislike of Negative Interest Rates Points to Limits of Stimulus Measures | YGlobalBiz Education | Scoop.it
The Fed’s aversion to negative rates shows how central bankers are confronting the limits of their efforts to stimulate the slow-growing global economy.

Negative rates are like a central bank’s version of the children’s game of hot potato—the potato being money nobody wants to get left holding. Commercial banks are charged for leaving funds on deposit with the central bank. By imposing a cost on parking money safely there, the policy aims to induce banks to lend their money elsewhere, to consumers and businesses, where they can earn higher returns. That risk-taking, in turn, is meant to spur economic growth.
more...
No comment yet.