The British government has forecast there will be 6 billion fewer bags in circulation and a boost to the environment, thanks to a 5 pence (6 cent) charge on single-use plastic grocery bags in the U.K. “Taking six billion plastic… Read More ›
Economy & Finance
Britain staring at recession and a cut in interest rates
Although surveys have painted a gloomy picture of the British economy, British finance minister has downplayed their results saying these are gauging only sentiments and not manufacturing activity. According to surveys, Britain appears to be headed for a recession. British… Read More ›
Bank of America warns Brexit could have adverse impact on its operations
The terms of Britain’s exit from the bloc are going to be crucial for most notable players in the region. Bank of America Corp has disclosed that its results and businesses are likely to be adversely affected since it may… Read More ›
Creation of Two Steel Giants by Merger Being Mulled by China: Reports
Creating two steel giants – one located in the north and another in the south, China is considering a sweeping overhaul of its steel industry through consolidation, Bloomberg reported quoting people familiar with the plan. The sources said that while… Read More ›
Citigroup: Brexit – no material impact on our operating environment
Citi feels relative safe from any Brexit fallout due to its strategic spread of its asset allocations. Following Britain’s historic decision to leave the EU, Citigroup Inc. has reported today that it did not experience any “significant negative impact” on… Read More ›
$35 Billion to be Spent to Buy Uber’s China Business by Taxi App Rival Didi Chuxing
Uber’s China business would be taken over by rival Chinese ride-hailing service Didi Chuxing. This announcement was made by both the companies on Monday. The combined company would be valued at $35 billion according to a person familiar with the… Read More ›
Middle East Mega Bonds Eyed by Chinese Banks With Global Dreams
Making use of the old Silk Road marketing new goods – debut bonds from Saudi Arabia to Kazakhstan, is the road that Bank of China Ltd. is heading down. Three mandates to co-manage emerging-market Eurobonds, including the Saudi government’s international… Read More ›
As Modi Moves to Spend $150 Billion, India Lifts Veil on Army
Climbing into tanks and talking to combat soldiers is an eye-opener for those private-sector executives in India who normally get only snippets of information to design components of complex military hardware. Unprecedented access to India’s secretive military was given to… Read More ›
Plants in UK to be Closed by Ford to Combat $1 Billion Brexit Blow
Ford has forecast a $1 billion hit to its business over the next two years and is considering closing plants in the UK and across Europe in response to Britain’s vote to leave the EU. Before the end of the year,… Read More ›
Eurozone’s economic data in stark contrast to Britain’s
Consumer and business sentiments across economies are looking up in the Eurozone. However, Britain’s brush with recession is likely to have an impact on the bloc. According to freshly available data, although Brexit’s shockwaves have had widespread economic impact on… Read More ›
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