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(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.U.K. house prices increased at their fastest pace in more than a year this month, according to Nationwide Building Society.Values rose 0.5% in November from October, the biggest advance since July 2018, the mortgage lender said Thursday. From a year ago, values rose 0.8%, the highest since April, but still registering sub-1% growth for an 12th straight month.U.K. housing activity has been undermined by Brexit since the 2016 referendum, and the increased uncertainty caused by successive delays to the withdrawal from the EU has hurt the economy and taken a further toll on the market.The election next month may bring some clarity, although Nationwide cautioned against expecting too much impact on the market from the poll.“It appears that housing market trends have not traditionally been impacted around the time of general elections,” said Robert Gardner, Nationwide’s chief economist. “Rightly or wrongly, for most home buyers, elections are not foremost in their minds while buying or selling their home.”To contact the reporter on this story: David Goodman in London at [email protected] contact the editors responsible for this story: Paul Gordon at [email protected], Fergal O’BrienFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
November 28, 2019Read More
(Bloomberg Opinion) — On London’s Oxford Street last weekend, you could almost forget we were in the midst of a retail apocalypse. Christmas lights and a slew of special offers marking an ever earlier start to the imported bargain frenzy, Black Friday…
November 28, 2019Read More
(Bloomberg) — Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Boris Johnson is on track to gain the biggest Conservative majority since the 1980s, according to the most hotly-anticipated poll of the general election camp…
November 28, 2019Read More
Rebels have killed four Ebola response workers in eastern Congo, the World Health Organization said Thursday, an alarming development that could cause the waning outbreak to again pick up momentum in what has been called a war zone. “We are heartbroke…
November 28, 2019Read More
Rebels killed four Ebola response workers in an overnight ambush in eastern Congo, the World Health Organization said Thursday, warning that the attack will give the waning outbreak new momentum in what has been called a war zone. “We are heartbroken …
November 28, 2019Read More
(Bloomberg) — Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union. Sign up here to get it in your inbox every weekday morning.As Jean-Claude Juncker’s European Commission prepares to pass…
November 28, 2019Read More
(Bloomberg Opinion) — The new European Commission under President Ursula von der Leyen received overwhelming support from the European Parliament on Wednesday. Born of French President Emmanuel Macron’s improvisation and German Chancellor Angela Merkel’s acquiescence, the commission will have to navigate the inclement waters of the Franco-German relationship.In July, Macron boldly proposed von der Leyen for the commission presidency over the party candidates who had campaigned for the job. Merkel assented, though she’d backed the political process: None of the campaigning candidates appeared capable of commanding a majority in the parliament. That body took it as a slight, and von der Leyen was approved only by a thin margin. Legislators then took barely veiled revenge on Macron by rejecting his chosen candidate for France’s European commissioner, Sylvie Goulard. Macron was forced to name tech businessman and former minister Thierry Breton instead, who managed to squeak by. After the parliament spent weeks interviewing proposed commissioners and rejecting some — a demonstration to von der Leyen that she wasn’t getting a free pass — it was finally ready on Wednesday to let her and the commissioners take office, a month later than previously scheduled. This doesn’t mean it won’t be a hurdle for von der Leyen going forward. The Greens, who abstained during the confirmation vote, will always demand more from the commission, and keeping the other centrist factions satisfied won’t be a breeze given the growing rift between the center-left and the center-right even in Germany, where they govern together.But the von der Leyen commission will probably have a bigger problem with the European Council, comprised of national leaders, than with the parliament. There, France and Germany, the two countries meant to take the EU forward after Brexit, have been at loggerheads lately. Macron has blocked the opening of accession talks with potential new EU members, Albania and North Macedonia, and pushed a plan to make Europe militarily more independent from the U.S. Germany disagrees on both counts. On Wednesday, Merkel responded forcefully to Macron’s criticism of the North Atlantic Treaty Organization as undergoing “brain death.” She said to the German parliament: “Europe cannot currently defend itself alone, we are dependent on this transatlantic alliance and that’s why it’s right for us to work for this alliance and take on more responsibility.”Macron’s open bid for sole leadership in Europe is an irritant to Germans. According to a recent article in the New York Times, at a recent dinner to mark the 30th anniversary of the fall of the Berlin Wall, Merkel told Macron she was “tired of picking up the pieces” after his attempts at creative disruption. “I have to glue together the cups you have broken so that we can then sit down and have a cup of tea together,” Merkel reportedly said.This marks a low point in what generally has been a constructive relationship. In such a situation, von der Leyen’s commission faces the likelihood of deadlock in the European Council on its key proposals. France and Germany will each try to use the commission’s power to draft policies, and the large workforce that comes with that power, to back up their positions — that is, to satisfy Macron’s impatience and Merkel’s compromise-seeking caution.Merkel, of course, has promised to retire from politics in 2021 — but a more assertive German leader probably would clash even more energetically with Macron.In such a situation, the sheer balance of nationalities in key staff positions can be important. On Wednesday, Politico’s Brussels Playbook, a well-informed newsletter about EU politics, reported that five commissioners’ heads of cabinet (or chiefs of staff) — including Breton’s — will be German, and not one will be French. Breton hasn’t officially picked his head of cabinet yet, but even if the Politico report on him proves false, the balance would appear troubling for Macron. The senior staff positions are extremely powerful in EU decision-making, and if there’s a strong German influence on the chief-of-staff level, it won’t be easy for Macron to push his proposals.On the other hand, as things stand today, France has a disproportionately large number of senior EU bureaucrats and Germany a disproportionately small one. Of the 30 officials holding the top administrative grade, AD 16, five are French and only two German. More generally, 12.8% of the 2,600 officials in the top four grades are French and 12.6% are German, even though, based on the countries’ populations, Germany’s quota should be higher and France’s lower. A balance of influence is difficult to achieve in the EU when there’s little agreement on key issues, such as the bloc’s future geopolitical role, its adherence to the transatlantic alliance, and key expansion and immigration policies. A lack of broad agreement and personal harmony among leaders turns the complex bureaucratic and inter-institutional processes into a series of mini-battles. Macron may have helped von der Leyen into the top EU job, but he appears intent on making it impossible for her to do anything meaningful as he keeps trying Merkel’s patience with his escapades.To contact the author of this story: Leonid Bershidsky at [email protected] contact the editor responsible for this story: Tobin Harshaw at [email protected] column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion’s Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
November 28, 2019Read More
* Brazil president encourages genocide, campaigners argue * Rights groups seek action by international criminal courtPresident Jair Bolsonaro. ‘We believe there are elements that characterizse genocide,’ said a former Brazilian justice minister. Photo…
November 27, 2019Read More
Britain’s main opposition Labour party on Wednesday accused Prime Minister Boris Johnson of plotting a “toxic” deal with President Donald Trump to allow US pharmaceutical companies access to the state health service. Labour leader Jeremy Corbyn held u…
November 27, 2019Read More
Boris Johnson’s Conservative Party would win a comfortable majority in Britain’s parliament if the upcoming election were held this week, according to a poll by respected research firm YouGov. Britain votes on December 12, with Prime Minister Johnson …
November 27, 2019Read More
(Bloomberg) — Dozens of Iraqi protesters in the holy city of Najaf besieged and burned the Iranian consulate there, al-Arabiya television reported.Police in charge of protecting the consulate opened fire on demonstrators and then left the building alo…
November 27, 2019Read More
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