Ryanair issued a statement Friday informing passengers about their right to compensation for thousands of canceled flights as the budget airline faced the threat of legal action over allegedly misleading statements made so far. The move came after the Britain’s Civil Aviation Authority (CAA) gave the budget airline gave Ryanair until 4 p.m. GMT (12 […]
Read moreBritain’s regulators could grant interim permission for European Union investment and trading firms to continue operating in the U.K. after the country leaves the bloc in 2019. Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), said giving “interim permission” may be one solution for dealing initially with a wave of firms from the […]
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Robotaxis like Uber's could slash fares by 80 percent, UBS study says
Driverless taxis are set to totally transform the landscape of mass transit systems, according to a study. Self-driving taxi services – such as those Uber has tried to roll out in the U.S. – could offer fares at a fraction of the cost of those offered by public transport networks today, UBS said in a […]
Read moreU.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to moderation in economic growth in the third quarter. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged […]
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Brexit talks finally see some progress — here's what you need to know
Brexit officials for both the U.K. and the EU have claimed some progress in the latest round of talks – somewhat a change in tone, but only a small step in the right direction given the amount of work that lies ahead. David Davis, the U.K.’s Brexit secretary, told reporters Thursday that negotiators had achieved […]
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Merkel's chief of staff to reportedly take over as acting German finance minister
Peter Altmaier, German Chancellor Angela Merkel’s chief of staff, will take over as acting finance minister from Wolfgang Schaeuble when he leaves office, German newspaper Sueddeutsche Zeitung reported on Friday. It said, without citing its sources, that Merkel had made the decision. On Wednesday 75-year-old veteran conservative Schaeuble agreed to become president of the parliament […]
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European markets seen higher ahead of inflation data; Qatar Airways buys Italian airline
European stocks are seen higher on Friday morning as investors focus on data releases and monitor U.S. plans to overhaul the tax system. The FTSE 100 is expected to start the day higher by 7 points at 7,325; the DAX is set to open up by 12 points at 12,711 and the CAC 40 is […]
Read moreThe so-called “special relationship” between the U.S. and U.K. was looking decidedly shaky Thursday morning after the U.S. Department of Commerce decided to slap heavy import tariffs on jets partly made in Northern Ireland. U.K. Prime Minister Theresa May hinted that the U.S.’s decision Wednesday to slap import tariffs of 219.6 percent on Bombardier‘s C-Series […]
Read moreThe U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the […]
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Trump's tax plan will boost GDP, lift stocks and force a Fed rethink, RBC says
Economists at the Royal Bank of Canada gave an optimistic take on tax reform plans unveiled in the U.S., suggesting in its current form it will boost growth and urge investors to rethink the stock markets. “Acknowledging that some key details are still missing, a good baseline is that this tax plan could increase GDP […]
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