Category: Europe
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Failure of EU free trade deal would leave Canada stranded
The looming failure of free trade talks with the European Union would derail Canada’s push to reduce its dependence on the United States and potentially complicate negotiations with other nations, such as India and China. The EU’s hopes of signing the pact this week appeared to evaporate on Monday as the Belgian federal government failed…
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Netflix CEO gives conditional approval of AT&T-Time Warner deal
Netflix Chief Executive Reed Hastings said he was in favor of AT&T Inc’s planned $85.4 billion acquisition of Time Warner Inc, provided that his popular media streaming company continued to be treated fairly. Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Hastings said it was critical that Netflix’s…
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For AT&T, Time Warner was always on the menu
When Time Warner Inc’s (TWX.N) Jeff Bewkes welcomed AT&T Inc’s (T.N) Randall Stephenson for lunch at Time Warner Center in New York in late August, their meeting was supposed to be one of the catch-ups the two chief executives have had over the years. And it certainly started that way, with the two men chatting…
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UK banks fear public, politicians set against them on Brexit
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…
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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…
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Dollar hits seven-month high, stocks set for weekly rise
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…
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World Bank bemoans growing inequality in sub-Saharan Africa
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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…
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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…
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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…
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Toyota recalls 340,000 Priuses globally to fix parking brake issue
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…