FRANCOIS BAYROU
ECB set to hold rates steady with eye on France crisis
The European Central Bank is anticipated to maintain steady interest rates amidst controlled inflation and eased US tariff tensions, despite a new political crisis in France. ECB President Christine Lagarde voiced concerns about the potential impact of French political turmoil on markets and borrowing costs.
What you need to know about France's political crisis
French Prime Minister Francois Bayrou is poised to lose a confidence vote, deepening France's political turmoil amid ballooning debt and a fragmented parliament. Bayrou's austerity budget triggered opposition, leading to the vote. President Macron faces pressure to appoint a new prime minister, potentially from the center-left, as France braces for protests and a credit rating review.
France faces more turmoil with government on brink ahead of confidence vote
France's political scene is shaky. Prime Minister Francois Bayrou is likely to lose a confidence vote. This deepens the nation's problems amid European challenges. France struggles with debt and budget issues. Opposition parties plan to oust Bayrou. President Macron may need to find a new leader. The country is in crisis after snap elections.
Yen slides after Japan PM Ishiba resigns
Ishiba on Sunday announced his resignation, ushering in a potentially lengthy period of policy uncertainty at a shaky moment for the world's fourth-largest economy.
Asian stocks gain on rate cut optimism, yen dives after Ishiba resigns
Following weak U.S. jobs data, stocks rose amid expectations of Federal Reserve rate cuts, while the dollar weakened. Japan's yen declined due to political uncertainty after Prime Minister Ishiba's resignation, raising concerns about future monetary policy. Gold prices remained near record highs as investors awaited U.S. inflation data and monitored political developments in France.
Euro zone bond yields lower at end of volatile day
Euro zone bond yields were set to finish a volatile day lower on Wednesday, as the recent global selloff eased with help from U.S. labour market data that supported bets on a Federal Reserve rate cut this month.
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Bond rout cools but mood cautious with long-term borrowing costs near highs
Long-dated government borrowing costs from Japan to Britain touched fresh multi-year highs on Wednesday on nagging concerns over the fiscal health of some of the world's biggest economies, although a degree of calm was returning after a sharp selloff.
Euro zone bonds steady but fiscal jitters persist for long-end
Euro zone bond yields remained steady near multi-year highs. Investors are worried about government debt. Germany's 30-year yield was close to a 14-year high. French bonds showed little reaction to political news. Heavy bond supply is expected from Germany, Japan, and the US. Japan's 30-year government bond yield hit a record high. Societe Generale anticipates significant European bond issuance.
Charting the global economy: US consumers remain resilient, Indian exporters under pressure
American consumer spending saw a rise in July, driven by income growth despite high prices. Globally, economic landscapes are shifting. Germany faced rising inflation, while France grappled with political instability. China aimed for increased public welfare spending. South Korea's consumer confidence hit a seven-year high. Indian exporters sought government support amid US tariffs.
European shares post first weekly loss in four as banks weigh
European shares declined, hitting a two-week low, pressured by British banks amid proposed tax changes. Natwest, Barclays, and Lloyds experienced significant drops. The STOXX 600 fell, marking its first weekly loss in four, influenced by U.S. Federal Reserve concerns and French political uncertainty. U.S. inflation data and Trump's attempts to influence the Fed also weighed on market sentiment.
For bruised bond markets, turbulence persists as debt sales ramp up again
Global bond markets are bracing for increased volatility as major economies like Germany, Japan, and the U.S. prepare to issue long-dated bonds. Rising yields, driven by political uncertainty, inflation concerns, and potential rate hikes, are creating headwinds for governments already grappling with high debt levels.
France's 30-year yield pauses near 2011 highs amid political risk
French bond yields slightly decreased on Wednesday after hitting multi-year highs due to political uncertainty. Opposition to Prime Minister Bayrou's budget cuts raised concerns about the government's stability, impacting investor confidence. Adding to global market worries, President Trump's attempt to remove a Federal Reserve Governor sparked fears about central bank independence.
European shares rise after selloff as focus shifts to Nvidia results
European shares rebounded on Wednesday, recovering from a recent dip as investors monitored political developments in France and anticipated earnings from AI giant Nvidia. The STOXX 600 index and France's CAC 40 both saw gains. German consumer sentiment is expected to decline amid job loss and inflation concerns.
Fears of new political crisis grip France
France is facing a potential political crisis as Prime Minister Francois Bayrou's government faces a confidence vote amid opposition to his proposed debt-cutting measures. Opposition parties across the political spectrum have voiced their disapproval, increasing pressure on President Emmanuel Macron, with some even calling for his resignation. The political turmoil has impacted financial markets, raising concerns about France's economic stability.
European shares fall on French political risks, Fed concerns
European shares dropped on Tuesday, led by losses in France as political uncertainty deepened in the country, while mounting concerns over the U.S. Federal Reserve's independence curbed appetite for riskier assets globally.
Dollar drops after Trump fires Fed's Cook
The U.S. dollar weakened after President Trump removed Fed Governor Lisa Cook, citing mortgage fraud allegations, raising concerns about the Fed's independence. This move intensified worries about political influence on monetary policy, impacting Treasury yields. Other currencies like the euro and yuan saw gains amidst political developments and stock market rallies.
Euro zone bonds struggle for direction after Ukraine talks, eyes on Jackson Hole
Euro zone government bonds were in a holding pattern on Tuesday as traders looked ahead to a symposium of global central bankers later in the week, and after talks in Washington on ending Russia's war in Ukraine.
Trumped, EU must eye new trade paths
France and Germany express concerns over the EU-US trade deal. They believe the deal is not optimal for the EU. Emmanuel Macron feels the EU could not leverage its market. The EU should focus on building partnerships with emerging economies. India and the EU should finalize their FTA. The EU must work with partners for sustainable economies.
Angry France slams US trade pact 'submission' as EU peers breathe sigh of relief
The EU and U.S. have struck a trade deal, averting a potential trade war, though France criticizes it as a "submission." The agreement imposes a 15% tariff on most EU goods, a compromise from the initially threatened 30%.
Sacre bleu! Chhuttis are sacrosanct
France is grappling with a potential uproar. Prime Minister Francois Bayrou plans to trim tax breaks and slash civil service jobs. He also intends to scrap Easter Monday and Victory Day. Critics are calling it an attack on French history and workers. Right-wing parties are surging across Europe. India observes the situation while enjoying its own holidays.
France’s new revolution: Work more, earn less in the land of the 35-hour work week
France grapples with a controversial proposal. Prime Minister Francois Bayrou suggests cutting public holidays. This aims to curb the nation's rising budget deficit. The move sparks widespread outrage. Unions and political opponents voice strong disapproval. Critics argue it burdens workers without fair compensation. Alternative solutions focus on boosting employment and productivity.
French PM brands Trump support for Le Pen 'interference'
French Prime Minister Francois Bayrou criticized US President Donald Trump's comments on Marine Le Pen's embezzlement conviction. On Saturday, Bayrou said Trump's support for Le Pen constitutes “interference” in French affairs. Trump had previously called Le Pen's case a “witch hunt”.
French PM Francois Bayrou says EU tariff on American bourbon probably mistaken
U.S. President Donald Trump on Thursday threatened to impose a 200% tariff on all wines and other alcoholic products from the EU if the bloc does not scrap its planned tax on U.S. bourbon. "Have some missteps been made? Yes, probably, because Kentucky bourbon has been included as if it were a trade threat," Bayrou said of the EU's proposed tariffs in response to U.S. duties on steel and aluminium.
France braces for political showdown as new prime minister seeks to force budget through
Political uncertainty looms in France as Prime Minister Francois Bayrou plans to use special executive powers to pass the budget without a parliamentary vote, possibly triggering a no-confidence motion. Disagreements over budget and social security changes have deepened tensions in the National Assembly, risking Bayrou's downfall.
French economy shrank 0.1 percent in fourth quarter
The French economy grew by 1.1 percent in 2024 but shrank by 0.1 percent in the final quarter following the Paris Olympic Games. Political turmoil contributed to economic instability, with the resignation of Prime Minister Michel Barnier and the appointment of Francois Bayrou, who vowed to reduce the public deficit.
Europe could be 'crushed' if it does nothing against Trump: French PM
French Prime Minister Francois Bayrou warns that without a united European response, France and Europe risk domination by the U.S. under President-elect Donald Trump's policies. Bayrou highlights the US's aggressive stance through monetary and industrial strategies, urging European solidarity to counter potential marginalization.
French PM survives first no-confidence vote in parliament
French PM Francois Bayrou survived a no-confidence vote brought by the leftist opposition, after the far-right National Rally withheld support. Bayrou's recent policy statement on pension reform and deficit reduction faced condemnation. The motion received 131 votes, far short of the 288 needed. French politics remains unstable following last year's divided election results.
France: President Emmanuel Macron unveils new government
French President Emmanuel Macron has formed a new government led by Prime Minister Francois Bayrou, after the collapse of the previous Cabinet. The new lineup consists of 35 ministers, including prominent figures such as Elisabeth Borne, Manuel Valls, and Gerald Darmanin. The first Council of Ministers will be held on January 3.
France awaits fourth government of the year
François Bayrou, France's fourth prime minister this year, races to form a government by Christmas. President Macron has been in contact as Bayrou conducts final consultations. The 73-year-old centrist faces a no-confidence vote and the challenge of passing a budget. His historically low approval rating adds to the political crisis engulfing France.
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