You’re fired | Calamatta Cuschieri

Last week’s travel ban by US President Donald Trump continued to reverberate, this time resulting in the dismissal of working Attorney General Sally Yates who refused to defend the executive order, saying such action would not be "consistent with this institution's solemn obligation to always seek justice and stand for what is right".

The White House statement accompanying her dismissal just hours later read Yates "has betrayed the Department of Justice by refusing to enforce a legal order designed to protect the citizens of the United States". The travel restrictions were placed after Trump argued tougher vetting of immigrants was needed, but that has come under fire as critics complain the ban singled out Muslims and runs counter to the US’ history as a welcoming place for immigrants.

Accusation station

‘Twas just another day at the Office for the Trump administration who accused Germany, Japan and China of artificially devaluing their currencies to gain a competitive trade advantage. While the criticism of the latter is not surprising in the least, the accusation levelled towards Germany are somewhat novel.

The remarks – Trump’s top trade advisor said Germany was exploiting a “grossly undervalued” currency – drew rebuttals from German and Japanese officials, but more importantly indicate that a strong dollar is not very welcome by the new administration. Indeed the dollar sold off sharply against almost all of its peers.

Apple regains top spot

With sales of approximately 78.3 million iPhones in the last fiscal quarter, Apple knocked rival Samsung off the world’s top smartphone seller spot

With sales of approximately 78.3 million iPhones in the last fiscal quarter, Apple knocked rival Samsung off the world’s top smartphone seller spot for the first time in five years, boosted by demand for the larger iPhone 7 Plus. The high-profile recall of its main competitor from Samsung, the Galaxy Note 7 likely also played a role.

This article was issued by Andrew Martinelli, Investment Manager at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.