Brand Britain: How will Brexit affect our image abroad? September 23, 2016 WE’RE used to the echo chamber of post-referendum woes from the worlds of business and politics, but what does Brexit mean for marketing Brand Britain abroad? The drop in sterling has been great news for UK exporters. Figures out last week show that foreign demand for British vehicles has boomed for example, producing the best [...]
Saudi Arabia offers to cut production by 1m barrels if Iran freezes output September 23, 2016 Reports suggest Saudi Arabia has offered to cut production by 1m barrels if its regional rival Iran agrees to freeze output. The de facto Opec leader's offer comes ahead of widely anticipated talks between the world's biggest oil producers taking place in Algeria next week. Sources told Reuters that the offer, which is yet to be accepted [...]
Garden Bridge designer unveils a ‘stairway to nowhere’ – for New York September 23, 2016 The designer behind London’s Garden Bridge project over the River Thames, which continues to stir much controversy here, has unveiled another ambitious project. Thomas Heatherwick’s latest design, titled ‘Vessel’, was unveiled in New York last week. It depicts an enormous honeycomb-like structure with a free-standing collection of multi-level staircases. But the scheme is set to [...]
Eurozone growth hits slowest pace since 2014 September 23, 2016 Economic growth in the Eurozone is crawling along at its slowest pace since the end of 2014, a leading economic indicator has shown. The closely-watched purchasing managers' index (PMI) for activity across the 19-member bloc has dipped to its lowest level in 20 months, raising yet more concerns about sluggish growth on the continent. On an index [...]
Wells Fargo CEO quits role as adviser to Federal Reserve September 23, 2016 The head of Wells Fargo has stepped down from his role as an adviser to the US Federal Reserve amid the ongoing scandal over its creation of unauthorised bank accounts. Chief executive John Stumpf resigned his position on the advisory council of the San Francisco Fed, which consists of banking chiefs and is designed to guide policymakers, [...]
Czech Republic’s new name Czechia is now officially recognised by the UK September 22, 2016 Have you been calling the Czech Republic, the Czech Republic? You're so behind the times. Prague is now officially the capital of Czechia. The change of name came about in April this year to make it easier for businesses to use the country's name on products. This month, the UK has officially recognised the English alternative [...]
China told to combat debt problem or face banking crisis September 22, 2016 Ratings agency Fitch has added its voice to mounting concerns about financial instability in the Chinese economy. Hot off the back of a Bank for International Settlements (BIS) report which suggested the banking system was crippling under the most excessive credit burden faced by any country in the world, Fitch has told the Chinese authorities [...]
Business has a responsibility to ensure a generation is not lost. It’s time to make real investments September 22, 2016 At the UN General Assembly this week, Syria and the plight of its refugee citizens are top of the agenda. In the face of challenges that will be felt for years to come, what kind of future should the rest of the world aspire to help them achieve? Three weeks ago, I visited the Za’atari [...]
First crude shipment in two years leaves major Libyan port September 21, 2016 A tanker set sail from the Libyan port of Ras Lanuf to Italy today, marking the first shipment from one of its key oil terminals since the civil war froze activity there two years ago. The port manager told Reuters that a second tanker is preparing to load at the terminal, stoking hopes that it will bring Libya a [...]
Yen drops then pops on Bank of Japan announcement September 21, 2016 The Japanese yen has hits its strongest level since the end of August, just hours after the Bank of Japan announced an imaginative new approach to monetary policy. The yen initially fell to ¥102.74 against the dollar as the BoJ unveiled its latest package, before gradually strengthening throughout morning trading in London to stand at ¥100.86 against the [...]