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NEW YORK/LONDON (Reuters) -- The yen hit an almost four-week high against the U.S. dollar on Friday, raising speculation that Japanese authorities may have intervened for a second day to prop up the currency.
Britain’s Labour Party was projected to win a landslide election victory yesterday, sweeping the Conservative Party out of power after 14 years.
Wall Street saw a dramatic shift in market trends on Thursday, with winning and losing stocks swapping places for a day. It may turn out to be just what the rally needs to keep going.
LONDON — The U.K.'s Labour Party won a huge parliamentary majority in the country's general election, but a quirk of the British electoral system means it did so with just 34% of the total votes cast.
According to the Deloitte Consumer Signals Link Index released by Deloitte Korea on Thursday, South Koreans spend a monthly average of US$59 on splurge purchases, while the 20 countries’ average falls at US$41.
LONDON — The U.K. economy grew by 0.4% in May, flash figures published by the Office for National Statistics showed on Thursday, with the British pound jumping to a four-month high against the U.S. dollar after the announcement.
However, the question as to whether these developments signal that we are on a path to World War III is difficult to answer, and the Manichean arguments put forth by officials so far do the complexity of the issue a disservice. Using history as an analytical framework to assess current issues is popular but also fraught with limitations. No two periods are exactly alike. The cases of World War I and World War II offer limited value when examining the current global crisis.
