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UK banks fear public, politicians set against them on Brexit

Britain's Prime Minister Theresa May holds a news conference after the EU summit in Brussels, Belgium October 21, 2016. REUTERS/Eric Vidal - RTX2PV88

For decades, Britain’s bankers have relied on their industry’s outsized status in the economy to find a receptive ear in government. But in the aftermath of the country’s vote to leave the European Union, the sector that generates about a tenth of national economic output is grappling with an uncomfortable new reality where economics doesn’t always trump politics. June’s vote ...

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Samsung ‘blocks’ exploding Note 7 parody videos


Samsung appears to have filed copyright claims against YouTube videos mocking its recalled Galaxy Note 7 handset. Many gamers have showcased a modification to video game Grand Theft Auto V, in which sticky bombs were switched with exploding Samsung phones. But some have reported that their videos have been blocked on YouTube following a copyright complaint. Samsung has not yet ...

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Dollar hits seven-month high, stocks set for weekly rise

A red London bus passes the Stock Exchange in London, Britain, February 9, 2011.   REUTERS/Luke MacGregor/File Photo

Global stocks were set for their first weekly gain in four weeks on Friday and the dollar rose to its highest since March, as the euro came under pressure after the European Central Bank shot down talk of tapering its easy money stance. The euro hit its lowest since March after the ECB left its ultra-loose policy unchanged on Thursday ...

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World Bank bemoans growing inequality in sub-Saharan Africa

sub saharan african

A new research released by the World Bank at a forum called “End Poverty” has bemoaned the growing level of poverty in sub-Saharan Africa. According to the report, the inequality gap between the poor and the rich has widened due to excess focus on urban development to the neglect of agriculture. Attributing the phenomenon to low investment in the agriculture ...

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Monarch airline agrees £165m investment from Greybull


UK airline Monarch has settled worries over its immediate future by agreeing a £165m investment from Greybull Capital. The fresh financing has allowed the airline to renew its membership of the Air Travel Organisers’ Licensing (Atol) scheme – the scheme that refunds customers if a travel firm collapses. It also means the airline can invest in new aircraft. Greybull Capital ...

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Pound sees further volatile trading


The pound is higher in early Asian trading, regaining some of the ground lost from a sharp drop late on Tuesday. The currency was trading at $1.2259, up 0.8% from its fall the previous day. On Tuesday, it had fallen more than 2%, dropping below $1.21, while against the euro it fell below €1.10. The pound has now fallen about ...

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Toyota recalls 340,000 Priuses globally to fix parking brake issue

A woman is reflected on a screen showing Toyota Motor Corp's Prius hybrid car at the company's showroom in Tokyo, Japan June 14, 2016.    REUTERS/Toru Hanai/File Photo

Toyota Motor Corp (7203.T) said on Wednesday it was recalling around 340,000 of its latest Prius gasoline hybrid model in Japan and overseas to fix a parking brake issue. The recall covers models produced between August 2015 and October 2016, and affects around 210,000 vehicles in Japan and 94,000 in North America, Toyota said, adding that the balance would be ...

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Investors demand answers, new phone from Samsung after Note 7 fire fiasco

Signage is seen at the Samsung 837 store in the Meatpacking District of Manhattan, New York, U.S., October 10, 2016.  REUTERS/Andrew Kelly

Samsung Electronics Co Ltd needs to quickly find the cause of the fires that led to it pulling its Galaxy Note 7 smartphones and get a new model to market, investors said on Wednesday, as shares in the company slipped to a one-month low. The world’s top smartphone maker on Tuesday scrapped the $882 flagship smartphone in what could be ...

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Can the UK take over existing EU trade agreements?


Building British trade outside the EU is a priority for Theresa May’s government, so existing deals could be a useful starting point to any negotiation. But could the UK take over existing trade agreements the EU has with other countries, under “grandfather rights”, the phrase for allowing old rules to continue to apply amidst new arrangements? The short answer is ...

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Europe:Desperate uranium miners switch to survival mode despite nuclear rebound

The Tamgak open air uranium mine is seen at Areva's Somair uranium mining facility in Arlit, Niger, September 25, 2013.  REUTERS/Joe Penney/File Photo

The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent of the more than 400 ...

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