The U.K.’s Labour party has come under fire after its shadow finance minister said he was prepared for a run on the pound if the Labour party won the next general election. In remarks made at a fringe event during the Labour Party’s annual conference this week, Shadow Chancellor John McDonnell said he would plan […]

British Prime Minister Theresa May said she was bitterly disappointed by a U.S. decision to slap heavy duties on Bombardier Inc‘s CSeries jets which are partly made in Northern Ireland. May had urged U.S. President Donald Trump to help find a solution to the Boeing-Bombardier dispute which has put around 4,200 jobs at risk in […]

German industrial group Siemens and French rival Alstom agreed to merge their rail operations, creating a European champion to better withstand the international advance of China’s state-owned CRRC. Siemens will own 50 percent plus a few shares of the joint venture, to be called Siemens Alstom, while Alstom will supply Henri Poupart-Lafarge as chief executive, […]

European markets are expected to open higher Wednesday on growing expectations of another rate hike in the United States before the year-end. The FTSE 100 is set to open up by 5 points at 7,277; the DAX is seen higher by 14 points at 12,607 and the CAC 40 is set to begin higher by […]

Lufthansa‘s supervisory board has approved plans by the airline to invest in up to 61 additional planes for its Eurowings budget arm, seeking to fill the gap left by insolvent German rival Air Berlin. The investment in purchasing and leasing 41 A320 single aisle jets and 20 Bombardier Dash 8 Q400 planes will total around […]

The inability of the U.S administration to pass new tax cuts has delayed the next boom and bust cycle in the country, according to one economist, who is still predicting that the U.S. is ultimately headed for a recession. Adam Posen, president of the Peterson Institute for International Economics, told CNBC in March that he […]

Spanish prime minister Mariano Rajoy is due to meet U.S. President Donald Trump in Washington D.C. Tuesday, leaving behind a growing dispute in the streets of Catalonia. Rajoy arrived in the United States Monday for a visit aimed at deepening ties with a country that is “a friend and an ally” of Spain. However, the […]

Ataribox – the latest console from gaming pioneer Atari – will likely hit stores next year. The console will be powered by an AMD-customized processor and run on operating system Linux. In an announcement Tuesday, the Ataribox team said it would seek to raise funds for the console on crowd-funding platform Indiegogo “this fall (read: […]

A diamond weighing 1,109 carats — the largest found since 1905 — has sold for $53 million. The Lesedi La Rona, which means “Our Light” in the Twsana language, was found in a Botswana mine in November 2015. It is the third biggest diamond ever found, and the second largest of gem quality. Diamond miner […]

After the re-election of Germany’s Angela Merkel to a fourth-term in power, the hard task of political negotiations to form a coalition government has begun and could take weeks, if not months. Talks are reported to have begun between Merkel’s conservative alliance of the Christian Democratic Union (CDU) and its Bavarian sister party, the Christian […]