U.K. Prime Minister Theresa May is currently giving her speech at Davos and she has revealed her agenda for how center-ground politics can address people’s concerns regarding a harsh Brexit. In her speech the Prime Minister has commented that Britain faces a time of momentous change, and tough negotiations, but that Brexit was a vote aiming to take control, and that allowed the nation to make decisions for itself. May also supported that Britain is now able to control its destiny. She also commented on the downsides of globalization and the damage it has done to societies, warning that a more global and individualistic world can loosen the ties that bind people together. She also stated that I she was confident that center-ground mainstream politics could respond to the concerns people are facing today. Theresa May ended her speech with a call on global leaders and business chiefs to work together to make globalization work for everyone.
European markets edged lower on Thursday as investors digested remarks from U.S. Federal Reserve Chair Janet Yellen and are currently tuning in to to hear from President Mario Draghi of the European Central Bank. The ECB interest rate decision is due to be released at 12:45 GMT today. It is also worth noting that investors are currently focusing on U.K. Prime Minister Theresa May’s speech at Davos, which is expected to give further clues regarding her Brexit strategy. In today’s European markets Germany’s DAX lost 0.1 percent at 11585.50, U.K.’s FTSE 100 lost 0.7 percent at 7201.00, France’s CAC 40 dipped 0.3 percent at 4837.50 while the Euro Stoxx slid 0.2 percent at 3285.00 as of 10:00 GMT.
The South Korean court has dismissed a warrant to arrest the head of the Samsung Group, after a graft scandal led to the impeachment of President Park Geun-hye. The decision has come as a major relief for the country’s largest electronics conglomerate. It is worth noting that Park’s son Lee Jae-yong, has tried to fill the vacuum in the group’s leadership since his father suffered a heart attack in 2014. The company’s stocks were last seen trading flat at 593.00 as of 10:00 GMT.