Your Evening Briefing
The evening briefing will soon be available in your inbox every day. Sign up here.
For top EU officials, Thursday was spent sending messages about limiting the damage from Brexit. “Our position is determined by the interests of the 27,” said the European Commission’s Vice President Franz Timmermans. Angela Merkel laid down her own marker, warning that some officials in London were harboring “illusions” about getting preferential treatment from the EU. Against that backround, it was an interesting day for a a poll to emerge showing that British voters are showing signs of regretting last year’s referendum vote. — Siraj Datoo
Mario Draghi is relaxed about risks. Speaking after the European Central Bank decided to leave key interest rates unchanged, the ECB president said that although risks to growth have diminished, they “are still tilted to the downside.”
France’s election is turning nasty. After presidential front-runner Emmanuel Macron was ambushed in his home town on Wednesday, Le Pen went on a photo op on a fishing trawler in the far-right’s heartlands. “Have a nice boat ride,” Macron riposted on Twitter. “The withdrawal from Europe that she wants would be the end of the French fishing industry."
Monaco’s mansions are the most expensive in the world. The principality’s luxury homes have overtaken Hong Kong’s. Prime property is valued at €41,400 ($45,000) per square meter, up 180 percent in the last decade. London ranks fourth for most expensive luxury homes, after Monaco, Hong Kong and Tokyo.
The “riskiest” currency on Earth becomes everyone’s favorite. Just a week ago, the euro was deemed risky enough to be a cheap forward-looking option. But with the French election putting Emmanuel Macron in line to become the country’s next president, analysts now feel the euro is undervalued and more of a sure thing. Investors are now more bullish on European assets, and Goldman expects the currency to gain almost 4 percent.
How will Trump pay for his sweeping plan to cut corporate tax rates? The plan, unveiled on Thursday, calls for slashing the corporate income tax rate to 15 percent from 35 percent and enivsages a one-time, low rate for offshore profits. If the legislation isn’t revenue neutral in the long run, its tax cuts would have to be temporary – set to expire at least within a decade, and perhaps sooner.
Getting fired is worse than divorce (the data say.) Employees who lose their job never quite recover to the same level of well-being, according to data provided to Bloomberg this week from a review of more than 4,000 research papers. That’s a bigger shock to the system than the breakdown of a relationship.
Compiled by Leila Taha and Siraj Datoo