Middle East airlines and airports transform the region into a new crossroads for global travel
By Scott Mayerowitz, The Associated Press DUBAI, United Arab Emirates – It’s 1 a.m. and the sprawling airport in this desert city is bustling. Enough languages fill the air to make a United Nations translator’s head spin. Thousands of fliers arrive every hour from China, Australia, India and nearly everywhere else on the planet. Few [...]
Long haul ahead for Britain’s struggling economy
LONDON (Reuters) – When the financial crisis began to spread five years ago, British coffee machine-maker Fracino raced to get ahead of it. From the firm’s base in Birmingham, it carved out new markets in the Middle East, Asia and even Italy for its cappuccino and espresso machines which it proudly stamps with the British [...]
Britain heads for new recession
LONDON (Reuters) – The risk that Britain is entering its third recession in four years grew on Friday with figures showing that manufacturing shrank unexpectedly last month and mortgage approvals for home buyers dropped in January Gross domestic product fell at the end of last year, bringing Britain within sight of another recession and the [...]
EU officials agree to cap bankers’ bonuses at annual base salary
By Juergen Baetz, The Associated Press BRUSSELS - Top European Union officials late Wednesday struck an agreement on a package of financial laws that includes capping bankers’ bonus payments at a maximum of one year’s base salary. The bonuses will only be allowed to reach twice the annual fixed salary if a large majority of [...]
Samsung to unveil its next Galaxy S smartphone on Apple’s turf
SEOUL (Reuters) – Samsung Electronics Co Ltd said it will launch its new Galaxy S smartphone on March 14 in New York, taking its fight for market supremacy to Apple Inc’s doorstep after reportedly being inundated with requests from U.S. mobile carriers. The Galaxy S IV model will heat up competition in the crucial U.S. [...]
G20 steps back from currency brink, heat off Japan
By Randall Palmer and Lidia Kelly MOSCOW (Reuters) – The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy. Japan’s expansive policies, which have driven down the yen, escaped direct criticism in [...]
Scientists struggle to predict meteorite strikes
Scientists almost never predict meteors, like the one that caused damage in Russia Friday, before they strike Earth. “We virtually never get them ahead of time,” said Margaret Campbell-Brown, associate professor in the department of physics and astronomy at Western University in London, Ont. ‘It’s only really good luck if we happen to see one [...]
Crude Oil Surges as US Data Points to Recovering Economy
Friday February 1, 2013, 3:26pm PST Reuters reported that Brent crude oil went up 1% Friday, and rose 3% for the week, as employment saw higher gains than forecast, based on the figures from the U.S. Department of Labor. As quoted in the market news: London’s benchmark Brent crude oil market rose for the third [...]