France

EU Bans Islamic Headscarf, Sparking Angry Protest From Soros-Funded Group

A ruling by the European Union's top court on Tuesday, which allows companies to bar staff from wearing Islamic headscarves and other visible religious symbols, has set off a storm of complaint from rights groups and religious leaders and particularly the Open Society Justice Initiative, a group backed by the philanthropist George Soros.

Is Turkey Lost To The West?

Not long ago, a democratizing Turkey, with the second-largest army in NATO, appeared on track to join the European Union. That’s not likely now, or perhaps ever.

A Critical Week For Markets Begins: Preview Of The Main Events

A pivotal, catalyst-filled week for global markets is now underway as investors brace for the second US interest rate hike in 2 quarter, a Dutch election, the expiration of the US debt ceiling deal, the imminent invoking of Article 50 by Theresa May, the first G20 finance ministers' meeting of the Trump era and perhaps the disclosure of Trump's proposed budget.

Sturgeon To Give May An "Ultimatum" As UK Preapres For Critical Vote Ahead Of Article 50

On Monday the Brexit bill returns to the House of Commons, for debate after the House of Lords. The final bill must be approved by both houses. Should the bill pass Monday, the government could invoke Article 50 as early as Tuesday. Meanwhile BBC reports that Scotland's Nicola Sturgeon will give PM an ultimatum - give Scotland a different Brexit deal or she'll call for section 30, launhing another indepence referendum.

Global Stocks Rise, S&P Futs Flat As Dollar Rebounds Ahead Of Critical Week For Markets

European bourses advance and Asian share rose led by a surge in Hong Kong stocks which rose the most in three months as Japan hit 15 month highs. U.S. futures are little changed along while the dollar rebounded from session lows after Friday's selloff. Crude oil has continued its retreat, down 0.2% and sliding for a 6th straight day after breifly dropping below $48 in overnight trading.

European Parliament Censors Its Own Free Speech

The European Parliament has introduced a new procedural rule, which allows for the chair of a debate to interrupt the live broadcasting of a speaking MEP "in the case of defamatory, racist or xenophobic language or behavior by a Member". No one, however, has bothered to define what constitutes "defamatory, racist or xenophobic language or behavior". Where does this clearly totalitarian impulse stop and who will stop it?

S&P Futures, Global Stocks Jump Ahead Of US Payrolls As Global Bond Rout Continues

European and Asian shares rise along with a jump in S&P futures which are pointing to a solidly green open on US payrolls day. The dollar, trading somewhat weaker against the euro was stronger against the yen, and was on track for its firth week of gains, while the rout in global Treasuries continued following a Mario Draghi conference that was interpreted as more hawkish than expected.

Canada's New Blasphemy Laws

Although these motions against "Islamophobia" are not legally binding, extremists have already started demanding them as laws.

Crude Plunges Below $49, Dragging Markets Lower; All Eyes On Draghi

While trader attention will soon be focused on the ECB and any potential tightening hints from the central bank, a more pressing development as US traders walk in today, will be ongoing collapse in WTI, which after crashing 5.5% yesterday, has tumbled more than 2% this morning, sliding not only below $50 for the first time since December 1, but also dropped under $49, as a near record number of net long spec positions suddenly rushes to unwind their exposure.