Author: Daniel snow

“Politics isn’t wagging the tail – it’s shaking the entire dog.”These strong words from one wealth manager to CNBC last week capture a hectic first half of trading. They also set the stage for an uncertain second half, where “geoeconomics” looks set to remain a dominant market force.  This week, expect attention to return to monetary policy, as central bankers from across the globe — who have kept their heads down amid political tensions — prepare to speak at the ECB Forum in Sintra, Portugal.   Halftime report A lot has happened in the last six months, with trade tensions and truces…

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France views Eutelsat as a strategic asset in the EU’s push for technological sovereignty.Benoit Tessier | AFP via Getty ImagesFor years, France’s Eutelsat has been trying to build a European alternative to Elon Musk’s Starlink satellite broadband service.The company merged with British satellite venture OneWeb in 2023, consolidating the region’s satellite communications industry in an effort to catch up to Starlink, which is owned by SpaceX.Last week, the French state led a 1.35-billion-euro ($1.58 billion) investment in Eutelsat, making it the company’s biggest shareholder with a roughly 30% stake.Europe largely lags behind the U.S. in the global space race. Starlink’s…

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U.S. Senate Majority Leader John Thune (R-SD) speaks at a press conference following the U.S. Senate Republicans’ weekly policy luncheon on Capitol Hill in Washington, D.C., U.S., June 10, 2025. Kent Nishimura | ReutersThe Senate on Saturday cleared a key procedural hurdle to advance President Donald Trump’s “big, beautiful bill,” bringing the massive spending legislation one step closer to passage after weeks of painstaking negotiations.The Senate vote delivered a boost for Republican Majority Leader John Thune’s bid to get the bill to Trump’s desk by July 4. But it was not without drama.The vote on the motion to proceed was…

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