Bloomberg Daybreak: Europe Edition Israel Hezbollah Cease-Fire Begins, French Bond 'Storm' Warning & Bernard Arnault Blackmail Case
Nov 27, 2024
A newly brokered 60-day ceasefire between Israel and Hezbollah could signal a shift towards peace in the region, though reactions are mixed. Meanwhile, France is bracing for potential financial turbulence amid political tension over budget proposals. In the UK, corporate taxes have surged ahead of increased burdens from the Chancellor's new budget. Stellantis announces the closure of a van factory in Luton, challenging government mandates on electric vehicles. Plus, Trump's key economic appointments could reshape U.S. trade policy.
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Israel-Hezbollah Ceasefire
- Israel and Hezbollah began a 60-day ceasefire, brokered by the US.
- This marks a potential turning point in the conflict, although challenges remain, especially regarding Hamas in Gaza.
French Budget Crisis
- French Prime Minister Michel Barnier warns of market instability if the government's budget proposals fail.
- French bond risk has already climbed to levels reminiscent of the Eurozone crisis.
UK Corporation Tax Hike
- UK corporation taxes increased significantly even before the recent autumn budget.
- This is largely due to reversals of tax breaks by the Conservative Party and increased national insurance contributions.