Results of the British referendum on membership in the EU fluster not only politicians, but also the world's largest banks, for which London is the second (in some cases even first) home. Given a minimum profit, relentless pressure from regulators and impatient investors, the referendum is an...

The European Commission calls to stop prohibiting or limiting activities of mobile services like Uber and Airbnb. Instead, the Commission proposed to introduce uniform rules governing companies, representing the co-consumption economy. The European Commission is calling on EU countries to stop...

Net income from UK tax on oil and gas companies operating in the North Sea was negative for the first time since 1968, according to a report published by London agency Argus Media. The government has collected £ 538 million (or approximately $ 790.5 million) for the 2015-2016 fiscal year. However,...

While papering over differences on currencies and stimulus policies and expressing concern over North Korea, Russia and maritime disputes involving China, the Group of Seven industrial powers pledged on Friday to seek strong global growth.   The summit attended by the top leaders of the G7...

After Venezuela sold $1.7 billion of worth of Gold in the first quarter of the year to repay debts, the country’s reserves of the precious metal have plunged to their lowest level on record. Venezuela is struggling to feed its population as the country grapples with an economic crisis.   The...

While leaving the important details for easing of a debt burden to be hammered out after Germany’s federal election next year, Greece’s creditors reached a preliminary accord for a debt relief package.   The International Monetary Fund retreated from its hard-line stance for concrete and...

In his latest attempt to focus voters on the potential hit to the economy from an "Out" vote, British finance minister George Osborne said that Britain could sink into a year-long recession if it votes to leave the European Union.   "The British people must ask themselves this question: can...

The British retail sales sector seems to have caught up unexpectedly with a positive rebound. Following the consecutive weak performance, the British economy just got a new boost of “1.3 percent” in the month of April 2016 in its retail sales’ figures.   After facing a fall of “0.5 percent”...

Eurostat has summed up the first quarter of 2016. EU’s GDP grew by 1.7 percent as a whole, while some countries experience a glut, and others are on the brink of recession. EU economy welcomed 2016 with not very fast, yet steady growth. In the first quarter, the total GDP of all 28 EU countries...