“Hell Week II: The Revenge” Threatens Unrestrained Election Rejection
This article by David Haggith was first published on The Great Recession Blog:
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Angry Germany Slams Trump Criticism: Urges US To "Build Better Cars", Accuses Washington Of Causing Refugee Crisis
An angry Berlin has responded with a staunch defense of its policies after President-elect Donald Trump criticized German Chancellor Angela Merkel in two separate Sunday interviews, one with Germany's Bild and one with the Sunday Times, for her stance during the refugee crisis while threatening a 35% tariff on BMW cars imported into the US.
IMF Downplays Trump Stimulus Effect; Slashes Saudi, Mexico Growth In Latest World Economic Outlook
As the world's elite gather in Davos to decide for the minions what the world should look like, The IMF has taken a far dimmer view of global (and by that we mean Trumpian) economic growth than markets appear to be. In addition to slashing Brazilian, Mexican, and Saudi Arabian economic growth forecasts, Lagarde's lackeys are taking a cautious stance toward the policies of U.S. President-elect Donald Trump, who takes office this week, assuming only a modest boost to the U.S. economy from his promise of fiscal stimulus.
Key Events In The Coming Week: Trump Inauguration, Davos, Theresa May, ECB, China GDP
The week ahead promises to be a full one, with a plethora of events coming up. The Word Economic Forum in Davos could generate some headlines, with particular focus on Chinese President Xi Jinping, who will be the first Chinese president to attend. Tuesday brings Theresa May's long-awaited Brexit speech, while of course Friday marks the inauguration of Donald Trump as the 45th US president. We will also be keeping a weather eye out for the Supreme Court ruling on Article 50, although there is no set date for its announcement.
Central Banks: ECB and BOC
Ray-Ban Maker Luxottica To Merge With French Esilor, Creating $49 Billion Eyewear Giant
The US may be closed, but nothing stands in the way of merger Monday, which today struck in Europe with the announcement that Italy's Ray-Ban maker, Luxottica, and France's lens company Essilor agreed to a €46 billion ($49 billion) merger to create a global eyewear giant with annual revenue of more than €15 billion.
The deal, one of Europe's largest cross-border tie-ups, brings together Luxottica, the world's top spectacles maker with brands such as Oakley and Ray-Ban, with Essilor, the world's leading manufacturer of ophthalmic lenses.