Donald Trump’s threat to unleash ”fire and fury like the world has never seen” upon North Korea sent people seeking refuge—in the Swiss franc. The US president’s comments, following reports that Pyongyang may may have the technology to hit American territory with a missile strike, led to the biggest one-day rally in the franc against the euro in more than a year.
If we knew then what we know now…
Nothing unites the world’s city dwellers quite like complaining about property prices.
Amazon’s paltry second-quarter earnings made one thing clear: profits don’t matter.
Diagnosis: Takeover.
More likely that not, you were peering down at your phone the last time you watched a video online. According to Zenith, a media agency, we now spend around 30 minutes per day on our phones watching videos, up from just four minutes in 2012. That’s 10 minutes more per day than on personal computers or internet-enabled TVs. Two years from now, the gap between fixed and mobile will be three times as large.
This week, US president Donald Trump warned of a looming clash of civilizations. The Western world faces existential threats, and may not have the “will to survive,” he told an audience in Warsaw.
The US economy has added jobs every month for nearly seven years—81 months in a row, to be precise—and the unemployment rate, at 4.4%, is near historic lows. And yet, today’s update of employment stats also features bad news: stubbornly sluggish wage growth for workers.
Tomorrow, the first of Tesla’s game-changing mass-market electric cars is scheduled to roll off the production line. Next year, Elon Musk hopes to produce 500,000 Model 3 vehicles, which start at $35,000.
The British Open is the oldest of professional golf’s four major championships, first played in 1860. Prize money for the tournament was introduced a few years later, in 1863, with competitors sharing a purse of £10.
Cannes, France
Cannes, France
Got a question for Vladimir Putin? You’ll have to wait until next year to ask it.
Voters—such fickle creatures. Just ask Theresa May. She campaigned against Brexit, then had to reinvent herself as a true believer in it when the British unexpectedly revolted against the EU and she was thrust into the prime ministership. Thinking she could solidify her majority, she held a snap election this week—but the public that had voted for Brexit turned on her and took away the Conservatives’ majority in Parliament.
Twenty years ago this week, Amazon went public. Then an online bookseller, the company has since grown into a globe-spanning retail giant worth more than $430 billion in market cap.
For one night only, Europeans can put Brexit, creeping nationalism, and the euro zone’s economic woes behind them to “celebrate diversity,” as the official slogan for this year’s Eurovision Song Contest in Kyiv calls for.
“We have nothing to do with that.”
Even a supposedly weak quarter for Apple features plenty of eye-catching numbers. The tech giant generated nearly $53 billion in revenue in the three months to April 1. It turned a profit of $11 billion over that period. Its cash pile now stands at $257 billion.
It’s not often that the politics of France, which Ernest Hemingway called ”the simplest country to live in,” inspire angst across the world.
JPMorgan is an exceptional bank. Extraordinary, even.
Brexit talks have officially begun, so leaders in London, Brussels, and beyond will have their work cut out for them. All eyes will be on British prime minister Theresa May in particular, as she tries to negotiate an amicable divorce from the EU within the two-year timeframe set out by the bloc’s rules.
The group of nations that comprise the G20 account for four-fifths of global GDP and three-quarters of trade. The forum was founded for finance ministers to promote international economic stability. Since it started in 1999, the G20 “regularly sends clear messages against protectionism” at its meetings.
Fresh from a famous victory, the new president delivered his inaugural address to a crowd outside the Capitol in Washington, DC. The stock market had been rising steadily since the vote. In his speech, the new commander-in-chief marveled at the country’s “gigantic” growth.
Analysts aren’t sure what to make of Tesla. A roughly equal number have “buy,” “sell,” and “hold” ratings on shares of the electric-car manufacturer. Yesterday, Goldman Sachs cut its recommendation on the stock to “sell,” amid concerns about cash flow, production delays, and the departure of the company’s CFO after a little over a year in the job.
