International

International
Wednesday, April 21st 2010 - 16:48 UTC

Ash-cloud cost airlines 1.7 billion; IATA calls for government compensation

Giovanni Bisignani, IATA’s Director General and CEO

The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost airlines more than 1.7 billion US dollars in lost revenue through Tuesday—six days after the initial eruption. For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached 400 million USD per day.

Wednesday, April 21st 2010 - 02:55 UTC

Goldman Sachs earnings double; UK launches formal probe into fraud allegations

Last Friday Goldman was formally accused by the US Securities and Exchange Committee

Goldman Sachs Group Inc said first-quarter earnings nearly doubled, while in London Britain's financial regulator launched a formal probe related to civil fraud allegations against the Wall Street bank.

Tuesday, April 20th 2010 - 16:21 UTC

Bolivia organizes grassroots alternative to UN climate change

President Evo Morales will promote the Rights of Mother Earth

Delegates are gathering in the Bolivian city of Cochabamba for a grassroots alternative to last year's UN climate change summit in Copenhagen. The meeting will also celebrate the rights of Mother Earth on 22 April.

Tuesday, April 20th 2010 - 14:59 UTC

Argentina hosts FAO summit on fish and seafood trade

The international trade in fish and fishery products is valued at 102 billion USD

The United Nations Food and Agricultural Organization (FAO) are convening an international meeting on trade in fish and seafood to be hosted by in the Argentine government Buenos Aires 26-30 April.

Tuesday, April 20th 2010 - 14:42 UTC

UK economy recovery forecasted towards the end of 2011

Peter Spencer is Professor of Economics at the University of York and Economic Adviser to the Ernst & Young ITEM Forecasting Club

Prospects for the UK's economic recovery remain poor this year with output growth of 1% or less predicted in 2010, a leading forecaster has warned. It also suggested that although consumer spending is on the rise, it will remain too weak to sustain a recovery this year as consumers try to pay off debts as quickly as possible.

Tuesday, April 20th 2010 - 14:33 UTC

IATA criticizes Europe’s management of airports’ ash cloud-closure

Giovanni Bisignani, IATA’s Director General and CEO

The International Air Transport Association (IATA) sharply criticized Monday Euroepan governments for their lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption and urged a re-think of the decision-making process.

Saturday, April 17th 2010 - 06:36 UTC

As markets begin to normalize controversy over capital inflow controls resurfaces

“Mixed results” says IMF economist Effie Psalida

The International Monetary Fund has warned that an over reliance on capital controls could derail the current global recovery. Although admitting that it may be a good idea for one country to apply controls on capital inflow, as the levy imposed by Brazil, “it could encourage too many others in the region to follow suit”.

Saturday, April 17th 2010 - 01:37 UTC

Ash cloud over Europe cancels 17.000 flights, costs carriers 200 million daily

Millions of passengers are stranded in European airports

Millions of passengers have been stranded in Europe as air traffic controllers cancelled 16.000 flights Friday after a huge ash cloud spread from an Icelandic volcano covering much of the northern continent.

Friday, April 16th 2010 - 09:38 UTC

Outsider Clegg judged winner in first UK TV debate

Nick Clegg, a rank outsider to become Britain's next prime minister, upstaged the two main candidates in an unprecedented televised debate, according to snap polls of viewers.

Nick Clegg, a rank outsider to become Britain's next prime minister, upstaged the two main candidates in an unprecedented televised debate on Thursday, according to snap polls of viewers.

Friday, April 16th 2010 - 04:02 UTC

Iceland volcano ashes cause massive flights disruption across Europe

Flights across much of Europe are being cancelled on a second day of massive disruption caused by drifting ash ejected from a volcano in Iceland. Hundreds of thousands of passengers are affected and severe disruption could extend into the weekend, including on flights to North America and Asia.

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