International
International feedBritish Airways reports record loss and faces threat of strikes
British Airways reported a record pre-tax loss Friday of more than 485 million US dollars, another setback for the airline as it faces the threat of strikes over the Christmas period.
Roubini warns of an assets bubble because of the dollar-carry trade
The prevalent dollar-carry trade, in which investors borrow US dollars at 0% interest rates, to park in risky assets across the globe could come to an end in the foreseeable future, which may result in a major crash in such risky asset classes such as equities and commodities, according to economist Nouriel Roubini.
EU/Mercosur round of talks agreed negotiations remain stalled
The European Union and Mercosur closed on Friday a three-day round of talks unable to re-launch the stalled trade negotiations, although both sides were quick to point out to the “advances” of the last five years.
Bank of England to pump extra £ 25 billion to the economy
The Bank of England voted on Thursday to pump an extra £25 billion into the economy amid concerns over getting the UK’s faltering recovery out of recession. The quantitative easing (QE) program aimed at increasing the money supply and helping the economy no stands at £ 200 billion.
Interpol suggests mediation between Argentina and Iran over terrorist attack
France based Interpol proposed Argentine and Iranian authorities meet at Interpol’s General Secretariat Headquarters in Lyon, central-south France, to unlock the judicial stalemate of the 1994 AMIA terrorist bombing in Buenos Aires.
Bailing out UK banks has cost each British family £ 4.350 claim Tories
The British government’s plan to pump a further £25.5 billion of taxpayers’ money into Royal Bank of Scotland means the cost of the banking bailout has reached £4,350 for every family in the UK.
Strict cuts and rules for British MPs allowances
British Members of Parliament should no longer be able to claim for their mortgages or employ family members at the taxpayers’ expense, the long-awaited report by the standards watchdog has said.
Chinese company buys oil assets in the US for the first time
Chinese energy giant China National Offshore Oil Corporation (CNOOC) has bought oil assets in the US for the first time. CNOOC purchased limited stakes in four deepwater exploitation licences in the Gulf of Mexico from Norway’s Statoil. The size of the deal is secret, but Statoil said it was small.
GM decision to hang on to European subsidiaries triggers controversy
General Motors decision to hang on to its European car unit Opel including Vauxhall in Britain, was welcomed in the UK but met with anger in Germany. Unite union chief Tony Woodley, a former Vauxhall worker, hailed the news as a “fantastic decision”.
Gold at all time record following India’s purchase of IMF metal reserves
The price of gold has touched an all-time high after a large sale of the precious metal by the International Monetary Fund (IMF) to India. Gold struck a high of 1,095.05 an ounce in London, against 1,084.50 late in New York on Tuesday.
