Economy and Policy

  • The moon rises over the HSBC building in the Canary Wharf financial district of London, a day before the "supermoon" spectacle, in London

    Two of Europe's biggest banks warned on Wednesday that they could each move about 1,000 jobs out of London as they prepare for expected disruption caused by Britain's exit from the European Union. UBS (UBSG.S) Chairman Axel Weber said that about 1,000 of the Swiss bank's 5,000 employees in London could be affected by …

  • Gold bars are seen at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna

    NEW YORK/LONDON (Reuters) - Gold retreated on Wednesday from the previous day's eight-week high as data showing the biggest pick-up in U.S. consumer prices in 2-1/2 years lifted the dollar and U.S. Treasury yields. Moves were muted however as the markets awaited a speech by Federal Reserve chair Janet Yellen later in the …

  • Wilbur Ross testifies before a Senate Commerce, Science and Transportation Committee confirmation hearing on his nomination to be commerce secretary at Capitol Hill in Washington

    Billionaire investor Wilbur Ross, U.S. President-elect Donald Trump's choice for commerce secretary, voiced sharp criticism of China's trade practices on Wednesday, telling senators he would seek new ways of combating them. Ross, who made his fortune turning around troubled companies in steel, auto parts, textiles and …

  • FILE PHOTO: A Tata Steel sign is seen outside the Tata steelworks near Rotherham

    British financier Edi Truell has renewed an offer to take over Tata Steel's giant UK pension scheme in a deal that he says would allow members to keep benefits in full, though pension fund trustees rejected his proposals. Tata Steel, Britain's largest steelmaker, is in talks with stakeholders about spinning off its British …

  • A bird flies by the Vedanta office building in Mumbai

    Konkola Copper Mines , owned by global conglomerate Vedanta Resources PLC, will pay the first tranche of the $100 million it owes the Zambian government by the end of the month, the country's investment ...

  • New Delhi, Jan 18 (IANS) In a revelation about how the crucial decision on demonetisation of Rs 1,000 and Rs 500 notes was taken by the Reserve Bank of India (RBI) at a day's notice, RBI Governor Urjit Patel on Wednesday told a Parliamentary Committee that the apex bank had been "advised" by the government on November 7 …

  • Part of a pro-Brexit protester's placard is held up outside the Supreme Court in Parliament Square, central London

    The United Kingdom's Supreme Court will deliver its ruling next Tuesday on whether Prime Minister Theresa May can begin leaving the European Union without parliament's assent, potentially giving lawmakers a chance to have a vote on Brexit. May has said she would trigger Article 50 of the EU's Lisbon Treaty, the formal …

  • Foreign Secretary Boris Johnson leaves after listening to Britain's Prime Minister Theresa May deliver her keynote speech on Brexit at Lancaster House in London

    Just as British ministers were hoping to win EU leaders' support for their newly revealed Brexit plan, Foreign Secretary Boris Johnson raised hackles by comparing any attempt to punish Britain to a World War Two escape movie. The wartime comment came as he answered a question on remarks made earlier by an aide to French …

  • Education group Pearson lost almost a third of its market value on Wednesday after it ditched profit and dividend forecasts as it struggles to adapt to a digital age that has already upended the music and newspaper industries. The world's biggest education company, which traditionally makes most of its profit from textbooks …

  • New Delhi, Jan 18 (IANS) The Union Cabinet on Wednesday approved a loan of Rs 45,000 crore to the FCI out of the National Small Savings Fund, as well as exempted most states and UTs from the mandatory investment norms for funds collected under the NSSF scheme. "The Union Cabinet has given its approval to exclude states/Union …

  • German industry expects the United States to remain its most important export destination this year despite protectionist threats from President-elect Donald Trump, Germany's Chamber of Commerce and Industry (DIHK) said on Wednesday. Trump has warned German car companies such as BMW that he plans to impose a border tax …

  • New Delhi, Jan 18 (IANS) The central government on Wednesday said it has received an 'encouraging' response to its regional connectivity scheme (RCS) with 45 initial proposals coming in from 11 bidders covering more than 200 regional routes. According to the Ministry of Civil Aviation, the state-owned Airports Authority …

  • Vijayawada, Jan 18 (IANS) Oil major Saudi Aramco will send a team to Andhra Pradesh in 15 days to explore the possibility of developing a refinery. After the team's visit, Andhra Pradesh will also send a team to Saudi Arabia for further discussions. This was decided during a meeting Chief Minister N. Chandrababu Naidu …

  • The United States on Wednesday sued JPMorgan Chase & Co, accusing the bank of discriminating against minority borrowers by charging them higher rates and fees on home mortgage loans between 2006 and at least 2009. Filed in a Manhattan federal court, the government's complaint accused the bank of violating the U.S. Fair …

  • New Delhi, Jan 18 (IANS) Reserve Bank of India Governor Urjit Patel on Wednesday told a Parliamentary Standing Committee on Finance that Rs 9.2 lakh crore of new currency notes have been put in circulation since the high-value currency notes were demonetised on November 8. "When asked how much had been remonetised, he …

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