News from Business

Is China's rising debt pile getting out of hand? Agency downgrades credit rating for Asia's powerhouse economy

China's credit rating has been cut for the first time since 1989 amid fears of unsustainable debt levels and slowing economic growth. Credit rating firm Moody's downgraded Chinese debt one notch on its scale, from Aa3 to A1. This is still a rating near t

Daily Mail, 19 min. ago
 

OECD says 'basic income' reform would need more taxes

Welfare reforms that would introduce public payment of an unconditional basic income to everyone of working age are worth exploring but would do little to combat poverty if not financed by extra tax, the OECD said. It published a paper examining a long-d

Reuters, 22 min. ago
 

Continental 24: Bentley's Nurburgring homage

Bentley is gearing up to compete at the gruelling Nurburgring 24h race next weekend. To celebrate its entry into the event, the company has launched a limited-edition Continental 24.  Limited to a run of just 24 examples, the Continental 24 is based on t

The Week, 24 min. ago
 

Does London really subsidise the UK?

"London and the south of England have been subsidising the rest of the UK" are the opening words of an article in the Financial Times that will no doubt prove contentious in many parts of the country. The claim, which is based on evidence...

The Week, 24 min. ago
 
BREAKING: Deutsche ordered to give details of Trump's loans and links to Russia

BREAKING: Deutsche ordered to give details of Trump's loans and links to Russia

Legislators have asked whether loans to Mr Trump were guranteed by the Russaian government or connected to Russia in any way, according to reports. In a scathing letter to John Cryan, head of the German banking giant, members of the House Financial Servi

Daily Express, 33 min. ago
 
FTSE edge up helped by M&S but miners weigh

FTSE edge up helped by M&S but miners weigh

UK blue chips rose on Wednesday, helped by gains in Marks & Spencer (MKS.L) following results and stronger healthcare stocks though weaker miners kept a lid on the British market. The FTSE .FTSE rose 0.2 percent to 7,500.04 points by 0959 GMT,...

Reuters, 36 min. ago
 

Carmaker offers £2k for your old banger: Car scrappage scheme returns, courtesy of Vauxhall

Owners of high-polluting older cars don't have to wait for a government-backed incentive to cash-in on their bangers because Vauxhall has announced its own version of the scrappage scheme this week. The carmaker this week confirmed the return of the popu

Daily Mail, 37 min. ago
 
'Center Parcs' style Snowdonia chalet development gets the go-ahead

'Center Parcs' style Snowdonia chalet development gets the go-ahead

Controversial plans for a "Center Parcs" style chalet park in one of Snowdonia’s most popular areas has got the go-ahead. Forest Holidays, which owns the former Eryri Forestry Park near Beddgelert, applied to Snowdonia National Park...

Daily Post, 41 min. ago
 

Tanzania troubles put Acacia Mining shares on path to record one-day loss

Shares in London-listed Acacia Mining (ACAA.L) were set to post their biggest ever one-day drop as Tanzania President fired his mining minister following an investigation into possible undeclared exports by mining companies to evade tax. Tanzania Preside

Reuters, 51 min. ago
 
Bitcoin soars above $2,400 to all-time high

Bitcoin soars above $2,400 to all-time high

Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behi

Reuters, 57 min. ago
 
Linde, Praxair reach deal on merger agreement

Linde, Praxair reach deal on merger agreement

German industrial gases group Linde (LING.DE) and U.S. peer Praxair (PX.N) have reached a deal in principle on their proposed $70 billion (54.05 billion pounds) merger, Linde said on Wednesday. The Business Combination Agreement still needs the approval

Reuters, today, 15:45
 

What is a consumer? We reveal where the notion came from and why we aren't bigger spendthrifts than in the...

We’re referred to as ‘consumers’ all the time. The word is often used interchangeably with ‘citizen’, ‘shopper’, ‘household’ or ‘Briton’. But what on earth is a consumer, where did the term come from and has it always meant the same thing?  On this episo

Daily Mail, today, 15:40
 
Saudi Arabia plan to hike oil prices will BACKFIRE & boost US shale producers, say experts

Saudi Arabia plan to hike oil prices will BACKFIRE & boost US shale producers, say experts

The cost of both brent and crude oil has jumped this week amid expectations Russia and OPEC, led by Saudi Arabia, will agree to extend an output cap at a meeting in Vienna on Thursday. But the deal will simply give the US shale industry the opportunity t

Daily Express, today, 15:38
 

ECB's Draghi sees no need to deviate from policy path

The side-effects of the European Central Bank's unconventional policy tools have remained "contained", so there is no reason to deviate from the policy path already laid down by the ECB, President Mario Draghi said on Wednesday. "When...

Reuters, today, 15:34
 

China cracks down on top brokerages in latest clean-up effort

China has fined Citic Securities, Haitong Securities and Guosen Securities for breaking brokerage rules as part of Beijing's efforts to clean up its financial services sector. The country's biggest brokerage Citic Securities Co Ltd (600030.SS)(6030.HK) s

Reuters, today, 15:34
 


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