Now more than ever, Britain must showcase what it has to offer – and remember its strong partnerships across the world July 18, 2016 They say that a week is a long time in politics. For the last seven days everyone across the globe has been captured by the news of a new Prime Minister and new government. It has certainly been a hot topic of conversation here in the Far East where I am on my latest business [...]
Arrests pass 6,000 as Turkish President Recep Tayyip Erdogan promises fierce retribution following failed military coup July 17, 2016 The government crackdown following the failed military coup in Turkey continued over the weekend, with President Recep Tayyip Erdogan promising to "cleanse" his opponents as the number of arrests surpassed 6,000. On Sunday Turkish officials claimed the government had regained full control of the state apparatus after the military briefly locked down parts of Istanbul and the capital [...]
Italian banks now likely to get hybrid solution, as EU rules still stand in the way of original plan July 17, 2016 Italy's embattled banks are likely to benefit from a hybrid solution rather than a full-blown government bailout, it has been suggested. It was widely understood the Italian government had been in discussion with the EU regarding plans to inject €40bn (£33.5bn) into the country's banking industry, which is currently struggling with hundred of billions of euros of [...]
Foreign office issues updated travel advice to Britons in Turkey following military coup attempt July 17, 2016 The Foreign Office (FCO) has issued updated advice to Britons in Turkey after a failed military coup. "The situation in Turkey appears to be calming following an attempted coup overnight on 15-16 July," it said in an update on Saturday evening, but added that the situation remains "potentially volatile". Flights are returning to normal after [...]
Shooting heard in Ankara as President Erdogan calls for “mass resistance” following military “coup” July 15, 2016 There have been reports of military helicopters shooting at targets in the Turkish capital Ankara, following a military "coup". The news came shortly after a bizarre television appearance by President Recep Erdogan, who was interviewed on CNN via a Skype call on a smartphone. During the interview, he called for the population to resist – although he added he was still [...]
Wells Fargo profits drop but US banking giant meets expectations July 15, 2016 US banking giant Wells Fargo has reported a slight drop in profit for the second quarter of 2016 compared with the year before – but still met analsyts' expectations. The figures Net income was down to $5.6bn (£4.2bn) in the second quarter, from $5.7bn in the same period of last year. Earnings per share (EPS) was $1.01, [...]
84 people dead as truck crashes into crowds at Bastille Day celebrations in Nice July 15, 2016 French authorities have confirmed that at least 84 people are dead after a lorry was driven into a crowd in the French city of Nice in a suspected terrorist attack during Bastille Day celebrations last night. At least 100 were injured, with another 18 in a critical condition, after the incident on the Promenade des Anglais following a fireworks display. French [...]
Singapore Exchange to remain shut today after technical glitch July 14, 2016 The Singapore Exchange failed to open today after a technical glitch halted trading. "The securities market will not resume trading at 16.00 hours and will not re-open today," it said in a fifth update. South East Asia's largest stock market had already missed a self-imposed deadline of 14.00pm earlier. Read more: Baltic Exchange in exclusive discussions with [...]
Wizz Air is spending $2.5bn on new engines in deal with Pratt & Whitney July 13, 2016 Budget airline Wizz Air is has agreed a deal with US manufacturer Pratt & Whitney to install new engines in 110 of its planes. The deal, worth $2.5bn (£1.9bn), will see Wizz Air's 110 Airbus A321neo aircraft equipped with Pratt & Whitney’s PurePower Geared Turbofan engines, with deliveries to start in 2019. The agreement also covers an additional 90 [...]
China agrees to EU deal as steel industry crisis rumbles on July 13, 2016 EU leaders said today that they'd struck a deal with Beijing to discuss its flood of steel exports which have been blamed for the industry's crisis. It came as Chinese President Xi Jinping met European Council President, Donald Tusk, and European Commission President, Jean Claude Juncker, today. Juncker said the EU would use everything at its disposal [...]