Bank of England interest rates have been left on hold at 0.5% for another month amid fears that the pace of recovery in the UK economy is slowing. The BoE base rate has been at its current level for more than five years, with economists not expecting an increase until next summer.
The world's largest ship fuel supplier, OW Bunker, has filed for bankruptcy after alleged fraud. The company's troubles came to light earlier this week when it discovered suspected fraud by senior employees in a Singapore-based subsidiary.
Mexico has abruptly cancelled a 3.75bn dollars contract awarded on Monday for a Chinese-led consortium to build a high-speed passenger rail link. President Enrique Peña Nieto said he wanted to avoid any doubts about the legitimacy and transparency of the bidding process.
The Antarctic ozone hole reached its annual peak size on Sept. 11, according to scientists from NASA and the National Oceanic and Atmospheric Administration (NOAA). The size of this year’s hole was 24.1 million square kilometers, an area roughly the size of North America.
The Falkland Islands Tourist Board has been working hard to produce the highest standard of representation for the islands to date. Following a highly successful campaign over the past two and a half years of developing a higher awareness for the Falkland Islands through targeted and high level marketing, promotions and events, have pulled off the most successful of the years promotions.
Chuck Blazer, once the most powerful man in US soccer, was an FBI informant used to spy on Fifa, the New York Daily News reports. Blazer, who is now suffering from cancer, secretly recorded conversations with officials he arranged to meet at his London hotel during the 2012 Olympics, the report said.
A set of defence co-operation contracts, worth £120 million, for the early phase of a joint development of Unmanned Combat Air System (UCAS) between the UK and French governments have been awarded in Paris. A UCAS capability would, by the 2030’s, be able to undertake sustained surveillance, mark targets, gather intelligence, deter adversaries and carry out strikes in hostile territory.
A London court gave Argentine holdout creditors in New York a two-week window on Thursday to challenge declarations sought by a powerful group of investors in a dispute over interest payments worth about 226 million Euros. The payments involve Euro-denominated Argentine bonds which were issued under English law.
US corporation firm General Electric has “over-invoiced” imports in a financial maneuver designed to access additional dollars in the official foreign exchange market, claimed Argentine Cabinet Chief Jorge Capitanich. GE thus becomes the second large US company in less than a week to face accusations of financial trickery in order to obtain economic benefits.
The president of the European Central Bank (ECB), Mario Draghi, says the bank stands ready to give the Euro zone further economic stimulus should it become necessary. The comments boosted shares in Europe. It also prompted a fall for the euro, with analysts increasingly braced for more dramatic stimulus measures.