Two sons of the former Egyptian president are among several men held in a corruption investigation.
Alaa and Gamal Mubarak, whose father was ousted as president in 2011, were arrested as part of an investigation into unlawful trading that began in 2012.
All the day’s economic and financial news, as Chinese leader calls for Asian states to unite against US protectionist trade policies
- Xi: Protectionism is rearing its head
- Latest: Chinese stock market hits lowest since Jan 2016
- Asian leaders are meeting in Vladivostok
- China wants closer ties with Russia
- Lagarde fears trade war will cause emerging market turmoil
Newsflash: The chairman of Royal Bank of Scotland has warned that taxpayer can’t expect to recoup the money spent rescuing the bank.
“The focus on survival over a decade has had a cost.
“The bank has lost almost 130 billion during the period. That amounts to around four-and-a-half times the bank’s current market capitalisation.”
“It seems clear that, in aggregate, the cost of these remedies to the bank and its shareholders was very much greater than could reasonably have been forecast at the time.
“It is another important reason why the book value of the bank is not greater than it is today.”
Ouch! Factory output across the eurozone fell unexpectedly in July.
Industrial production fell by 0.8% during the month, compared with June. Durable consumer goods production shrank by 1.9%, while non-durable consumer goods fell by 1.3%.
Britain’s largest luxury label by sales was sharply criticized for the practice, which had been justified as a move to preserve its “brand value.”
U.S. stocks are lower Wednesday as technology companies fall, although the market was on track for larger losses earlier in the day. Executives from Facebook and Twitter are testifying to Congress about their efforts to prevent meddling in U.S. elections. Investors are shifting some money into traditional safe industries like utilities.
Trump discussed his own impeachment in his latest interview with his favorite channel, FOX News. So what can we learn from Clinton’s presidential impeachment? Steve Kornacki breaks it all down.
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Donald Trump Discussing His Own Impeachment: Stock Markets Would Crash | The 11th Hour | MSNBC