US investment bank JP Morgan has created a crypto-currency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major US bank.
The world’s largest airliner has run out of runway after Airbus decided to close A380 production after 12 years in service due to weak sales. The decision to halt production of the A380 superjumbo is the final act in one of Europe’s greatest industrial adventures and reflects a dearth of orders by airline bosses unwilling to back Airbus’s vision of huge jets to combat airport congestion.
Chevron Corp. Chief Executive Officer Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiralling crisis that has led rival oil major Total SA to retreat.
The Galicia, Spain-based boat-builder Nodosa Shipyard has received orders for a pair of new Spanish trawlers during the past month. In its most recent order, Nodosa signed a contract with the Spanish harvester Pescapuerta Group to build a new freezer stern trawler for fishing in the South Atlantic. It aims to have delivered the vessel by the end of 2020, ready to enter full operations for the spring 2021 season.
United States negotiators are preparing to press China next week on longstanding demands that it reform how it treats American companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.
Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a £3.1bn reduction in the value of its plants and other investments leading to a £3.4bn quarterly loss, its biggest to date.
In January, a newly leased aircraft from Britten-Norman arrived in the Falkland Islands to provide an additional resource to the Falkland Islands Government Air Service during the height of the summer season. The plan was to carry out a 100 hours inspection and to fit flotation tyres before the aircraft – registration G-BCEN – would begin to carry passengers.
By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead. By 2024, demand growth halves, falling to just 0.6 million barrels per day (mb/d), down from 1.2 mb/d this year.
The Falkland Islands Government Air Service has received funding approval from the Executive Council and the Standing Finance Committee for a new aircraft to replace Islander VP-FBM which incurred substantial structural damage while landing at Beaver Island in June.
A report commissioned by Brazilian miner Vale SA last year to look into the stability of the tailings dam that ruptured January 25, killing 135, certified it as sound but raised concerns over its drainage and monitoring systems, newspaper Folha de S Paulo reported on Tuesday.