Monarch, which has just gone into bankruptcy, was part of a travel group whose origins reach back 90 years, long before the days of mass air travel. Through the heady 1970s and 80s, when foreign package holidays were the height of fashion, to the new era of relentless competition from budget airlines, Monarch still plied […]
US revives trade dispute over Canadian wine
The US has moved to revive a trade dispute with Canada over what it says are unfair limits on the sale of imported wine. The World Trade Organization circulated the new complaint – which focuses on wine sales in the province of British Columbia – on Monday. It adds to a growing list of trade fights between […]
Nasdaq and S&P 500 hit fresh highs
Wall Street rounded out the last trading day of September on a positive note, with both the Nasdaq and the S&P 500 index hitting fresh highs. By the close the S&P 500 had risen 9.3 points to 2,519.36 while the Nasdaq index climbed 42.51 points to 6,495.96. The Dow Jones industrial average closed up 23.89 points, or 0.1%, at 22,405.09 US […]
India’s Slow Economic Growth
India’s economic growth is at its slowest pace for three years in the April-to-June quarter and growth has declined for six quarters in a row. Economic analyst Vivek Kaul explains why one of the world’s fastest growing economies is sputtering to a halt. On Monday, Prime Minister Narendra Modi revived India’s economic council, a body […]
Ikea buys odd jobs firm TaskRabbit
Tired of having to build your Ikea Billy bookshelves yourself? The Swedish furniture giant’s latest purchase of TaskRabbit means it will be easier to get someone else to do it for you, as long as you are willing to pay. The firm is buying US start-up firm TaskRabbit, which allows users to hire people to […]
Anger as German ex-chancellor Schroeder heads up Rosneft board
Former German Chancellor Gerhard Schroeder is facing a backlash after being elected chairman of the Russian state-controlled oil giant Rosneft. The appointment deepens his controversial links with Moscow. He has long been friends with Russian President Vladimir Putin. The West imposed sanctions on Rosneft after Russia annexed Crimea in 2014. The chair of the German […]
UK chip designer Imagination bought by Chinese firm
UK chip designer Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm. Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products. The boss of Imagination, Andrew Heath, said the takeover by China-backed Canyon Bridge was a “very good outcome” […]
Storms complicate Puerto Rico’s debt problems
Puerto Rico’s more than $70bn in debt is casting a shadow over recovery efforts on the Caribbean island, which was badly destroyed by Hurricane Maria. Puerto Rican Governor Ricardo Rosello, who is seeking federal funds, warned of a “massive exodus” without aid. US President Donald Trump wrote on Twitter on Monday night that the island […]
Cyber Attack: Deloitte hit by data breach
Corporate finance giant Deloitte suffered a cyber-attack that compromised confidential data, including the private emails of some of its clients, the company has confirmed. Its system had been accessed via an email platform and “very few” clients had been affected, Deloitte said. The Guardian reported the attack had been discovered in March but could have happened […]
Brent oil price ease back
The Oil Prices has fallen back on Tuesday after earlier hitting a two-year high. Rising demand and geopolitical worries had fueled the increase, along with indications that production cuts by OPEC members are starting to bite. Brent rose about 4% to just short of $60, its highest since July 2015, point, before dropping back to $58.59. […]