Venezuela’s President Nicolas Maduro is pressing ahead with a controversial election to form a new government that opponents and analysts fear will damage the country’s democracy and allow him to cement his leadership. The election for the National Constituent Assembly (ANC) will be held on Sunday, July 30, and opposition leaders are planning a week […]
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THREE years ago, Ryanair, Europe’s biggest budget airline, made the sudden decision to be nicer to its customers. Before that, brusqueness had been part of its strategy. Fares were low, but check-in staff were famously ruthless. One family was charged €600 ($701) to print their forgotten boarding passes (“idiots” according to Michael O’Leary, the airline’s […]
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Print edition | Business Jul 29th 2017| BEIJING HONEST souls intent on paying full whack for the music they listen to used to have a hard time in China. In the era of compact discs, rare was the shop which did not sell counterfeits. The same held true when discs turned into downloads and online […]
Read moreU.S. President Donald Trump on Tuesday praised ongoing work on a post-Brexit trade deal with Britain while sharply criticizing the European Union’s trade relationship with the United States. “Working on major Trade Deal with the United Kingdom. Could be very big & exciting. JOBS! The E.U. is very protectionist with the U.S. STOP!” Trump wrote […]
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OPEC's best efforts continue to fail because oil prices have 'a life of their own'
OPEC‘s efforts to stimulate flagging prices are likely to fail once again because of its limited influence on the market, Mouhammed Choukeir, chief investment officer at Kleinwort Hambros, told CNBC on Tuesday. “Oil price has a life of its own…. You can see that since the beginning of the year clearly OPEC has tried its […]
Read moreGreece is making its return to the market Tuesday after a three-year absence with the sale of a five-year bond. Analysts have applauded the timing but caution the country is still in the hands of international creditors. The Greek Debt Agency is issuing a five year bond maturing in 2022 with a coupon rate of […]
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German business confidence reaches its highest level since country's reunification
German business confidence unexpectedly rose in July, a survey showed on Tuesday, hitting the third record high in as many months as Europe’s largest economy powered ahead and morale lifted across industry. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 116.0 from […]
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Op-Ed: UK leadership battle could leave an awe-inspiring choice for a post-May prime minister
Entire libraries are replete with lengthy tomes that attempt to define the essence and significance of political leadership through the ages; whether it is innate or earned, the power it can wield for better or worse, and the varying role that it plays in diversely governed societies across the globe. But as we approach the […]
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Iran already has a lot of problems, and the next one could be a banking crisis
Nothing is easy for Iran’s economy these days, and things could soon get even tougher. The U.S. House of Representatives is expected to pass a bill Tuesday to put new sanctions on Russia, North Korea — and Iran. A Senate version passed overwhelmingly last month. Iran is being targeted for its activities in Syria, its […]
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Akzo Nobel second-quarter profit misses forecasts, chairman to resign
Dutch paintmaker Akzo Nobel, grappling with the consequences of rebuffing a 26.3 billion euro ($30.63 billion) takeover bid by U.S. rival PPG Industries, on Tuesday announced earnings below market expectations and said Chairman Antony Burgmans will resign at the end of his term in April 2018. Akzo said its core profit in the second quarter […]
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