The Royal Navy flagship HMS Ark Royal, which was axed as part of the defence review, set sail yesterday for a farewell tour. The aircraft carrier is to be retired three years early as part of cost-cutting measures announced by the British Government last month.
Europe's competition watchdog hit 11 airlines with nearly 800 million Euros in fines Tuesday for running a global cargo cartel that included Air France-KLM, British Airways and Japan Airlines.
As world leaders prepare to debate international trade imbalances this week, China announced Wednesday that its trade surplus surged last month to a staggering 27.2 billion US dollars, a 61% increase over the 16.9 billion surplus in September.
China is resisting pressure to become a locomotive to pull the floundering US economy out of its hole, notably by stubbornly pegging its Yuan to the dollar, a senior IMF official said on Tuesday.
A group of former Royal Navy admirals have called for the decision to scrap the aircraft carrier Ark Royal and the fleet of Harrier jets to be reversed. The cuts were announced as part of the government's Strategic Defence Review.
The Falkland Islands dispute must not get in the way of Britain boosting its relations with Latin America, Foreign Secretary William Hague said Tuesday. London has neglected its ties with the region for too long and Britain must re-launch its relations with Latin America as its importance on the global stage grows, Hague said.
China kept up criticism of US easy-money policies, warning two days before a G20 world economic summit that Washington could destabilize the global economy and inflate asset bubbles.
In spite of Uruguay’s good macroeconomic performance there are weak points and a productivity shock, fiscal austerity plus regional coordination to address external surprises should be considered, said Enrique Iglesias, economist, former banker and currently Ibero-America Secretary General.
The World Travel & Tourism Council's (WTTC) revised upwards its previous forecasts for the industry reflecting the economic recovery and the faster-than-expected rebound in international travel, particularly in Asian markets.
A beluga whale is the inspiration behind a new concept for a massive luxury yacht and would cost in the range of 200 million US dollars.