Malaysian PM’s stepson bought £23m house in London using troubled state fund 1MDB May 19, 2016 The stepson of Malaysian Prime Minister Najib Razak reportedly bought a house in London for £23.25m using money from troubled state investment fund 1MDB. The property located in upmarket Belgravia is registered with Qentas Holdings Ltd., a company based in the British Virgin Islands. However, sources told the WSJ that Najib's stepson, Riza Aziz, is the beneficial owner. Read more: The [...]
Five reasons why investing in Iran is too great a risk for British firms May 19, 2016 This morning, in a giant ballroom in one of London’s most luxurious hotels, executives from leading corporations will gather for a major investment conference. In some ways, the conference will be like dozens that take place across London each year. However, this one has an unusual and ominous twist: it is organised precisely to encourage [...]
Fiat Chrysler recalls 500,000 Jeep Wrangler SUVs due to fears over air bags May 18, 2016 Car company Fiat Chrysler has announced it is recalling half a million Jeep Wrangler SUVs, over worries that the cars' driver-side air bags will not deploy if the vehicle is driven off-road. A clockspring located in the steering wheel that forms part of the circuit that helps control air bag function can, if driven off-road extensively [...]
Hollande renews support for EDF’s Hinkley Point May 17, 2016 The French president today renewed his support for EDF's Hinkley nuclear power plant, amid questions about his government's support for the £18bn flagship project. "I am in favour of this project going ahead," François Hollande told Europe 1 radio in a interview today. "EDF and Areva are public companies on which we should rely. But at the same time, [...]
EU referendum: YouGov polls say Britain thought to be more influential in Europe than not May 16, 2016 Britain's influence in global affairs is a key battleground in the EU referendum, with the Remain and Leave side claiming the UK's power will be larger if they win the vote. But looking beyond the arguments each side are spouting, Britain's perceived influence in European affairs is at an all-time high, according to data compiled by [...]
The decadence of Europe’s dismal elites is fuelling the populist surge across the EU May 16, 2016 “In the end more than freedom, they wanted security. They wanted a comfortable life, and they lost it all – security, comfort, and freedom… When the freedom they wished for was freedom from responsibility, then Athens ceased to be free and was never free again.” – Edward Gibbon on the fall of Athens As I have [...]
Volkswagen is preparing to launch its comeback plan in the US hoping to recover from the diesel emissions scandal May 12, 2016 Volkswagen is hoping to close the door on the diesel emissions scandal next month, as it prepares to mount a comeback in the US. A number of VW owners and the US Department of Justice sued the motor company after it admitted in September to cheating on emissions tests for 11m vehicles globally. The scandal hammered the company's share [...]
Brazilian President Dilma Rousseff stands down ahead of impeachment trial May 12, 2016 Brazil's Senate has brought down President Dilma Rousseff, after they voted strongly in favour of putting the embattled politician on an impeachment trial. Following a marathon overnight debate, senators voted 55-22 to try Rousseff for breaking budget laws. The rules mean Rousseff has been suspended from office ahead of her trial. Read more: Rousseff's impeachment is Brazil's [...]
London is still the world’s most luxurious property market while Auckland is the “hottest” city according to Christie’s International Real Estate May 12, 2016 This may come as little surprise, but London has retained its title as the world's most luxurious property market for the fourth year in a row, according to Christie's International Real Estate. The capital topped the list of 100 cities surveyed, beating Hong Kong, New York, Los Angeles and Singapore to the real estate top [...]
The best – and worst – countries to do business in May 11, 2016 While there may be warning lights flashing over the health of the UK economy, it is nothing compared to some of the turmoil being faced in countries further afield. Political uncertainty, an economic slowdown, oil price volatility and violent swings on the financial markets have dominated the start of 2016. Business and consumer confidence surveys are [...]