Lagarde’s ECB nomination thrusts IMF into early succession race

Lagarde’s ECB nomination thrusts IMF into early succession race

The nomination of Christine Lagarde as European Central Bank president on Tuesday (2 July) has thrust the International Monetary Fund into an early, unanticipated search for a new leader amid a raging trade war that has darkened the outlook for global growth. Lagarde in a brief announcement said she was “honored” by the nomination and would temporarily relinquish her duties as IMF managing director during the nomination period. Her appointment is subject to a final approval by the European Council, after consulting the European Parliament and the ECB’s Governing Council….

Read More

US mulls punitive taxes on new batch of European goods

US mulls punitive taxes on new batch of European goods

The United States announced on Monday that it was considering new duties on selected European goods in retaliation for what Washington claims are abusive subsidies for EU aircraft manufacturers. The list of goods to be targeted by the punitive tariffs comprises 90 items, including Gouda and blue cheese, Irish whiskies and certain pork products, representing a total market value of four billion dollars. They will be added to a previous list published on 12 April and valued 21 billion dollars, according to a press release from the office of US…

Read More