US studies plan to pay fishing industry for offshore wind impacts

The Biden administration is considering ways to ensure the US commercial fishing industry is paid for any losses it incurs from the planned expansion of offshore wind power in the Atlantic Ocean, according to state and federal officials involved in the matter. 
28 July 2021, 18:00 PM

British PM expects steady recovery for economy this year

British Prime Minister Boris Johnson said Britain’s economy would show a steady recovery this year albeit with “bumps on the road” after the country posted a strong increase in the number of employees on company payrolls in June.
28 July 2021, 18:00 PM

Oil price rises to $75

Oil rose to around $75 a barrel on Wednesday ahead of an industry report expected to show US crude inventories fell more than expected, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.
28 July 2021, 18:00 PM

McDonald’s expects big sales growth

McDonald’s BTS celebrity meals and crispy chicken sandwiches are expected to fuel a US sales increase of 24 per cent when the company reports second-quarter earnings on Wednesday, but analysts are eyeing whether labor shortages could slow growth. 
27 July 2021, 18:00 PM

UK retail sales dip slightly

British retailers reported only a slight slowdown in July after sales growth hit its highest in almost three years in June, the first full month after non-essential shops reopened from a coronavirus shutdown, industry data showed on Tuesday.  
27 July 2021, 18:00 PM

Asian stocks fall to 7-month low

Asia’s stocks fell to a fresh seven-month troughs on Tuesday led by a third straight session of heavy selling by the Chinese internet giant, while bond and money markets remained in tight range ahead of Federal Reserve policy meeting. 
27 July 2021, 18:00 PM

Cash-hungry emerging markets arrive late to the SPAC party

Emerging markets have so far been on the fringes of a fundraising boom using so-called SPACs or special-purpose acquisition companies, which could potentially unlock a vital new source of cash for entrepreneurs in developing regions.
26 July 2021, 18:00 PM

South Africa’s Mango Airlines to enter business rescue, says SAA interim CEO

South African Airways (SAA) subsidiary Mango Airlines will enter into a local form of bankruptcy protection known as business rescue, SAA’s interim chief executive Thomas Kgokolo told eNCA television on Monday.
26 July 2021, 18:00 PM

Insurance brokers Aon, Willis Towers Watson scrap $30b merger

Insurance brokers Aon Plc and Willis Towers Watson Plc said on Monday they had agreed to terminate their $30 billion merger agreement and end their litigation with the US Department of Justice. 
26 July 2021, 18:00 PM

Indonesia’s easing of Covid-19 curbs seen driven by economics

Indonesia’s decision to relax some Covid-19 curbs this week, despite reporting record-high deaths in recent days, is being driven by social and economic concerns rather than epidemiological advice, public health experts said on Monday.
26 July 2021, 18:00 PM

Abu Dhabi slashes business registration costs by 90pc

Abu Dhabi will slash the cost of establishing new businesses by  “more than 90 percent” from Tuesday to increase the  “competitiveness regionally and internationally” of the emirate, already a magnet for commerce.
26 July 2021, 18:00 PM

China’s new private tutoring rules put billions of dollars at stake

China’s sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years. 
26 July 2021, 18:00 PM

China says EU’s planned carbon border tax violates trade principles

China said on Monday the European Union’s plan to impose the world’s first carbon border tax will expand climate issues into trade in violation of international principles and hurt prospects for economic growth.
26 July 2021, 18:00 PM

With $4b in losses, Heathrow tells UK: open up travel

London’s Heathrow Airport urged Britain to open up travel to vaccinated passengers after its recovery fell behind hubs elsewhere in Europe, pushing its cumulative pandemic losses to $4 billion. 
26 July 2021, 18:00 PM

German business morale down on supply shortages, virus fears

German business morale fell unexpectedly in July on continuing supply chain worries and amid rising coronavirus infections, a survey showed on Monday, the first decline since January. 
26 July 2021, 18:00 PM

AstraZeneca scours supply chain for more vaccine doses for Thailand, SE Asia

AstraZeneca Plc is  “scouring” its global supply chain to try and boost Covid-19 vaccine supplies to Thailand and Southeast Asia, its representative for the country said on Saturday, amidst speculations of local production shortfalls.
25 July 2021, 18:00 PM

Insurance recovery will be faster, stronger than in 2008

The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s chief Americas economist said on Friday.
25 July 2021, 18:00 PM

Global supply chains buckle as virus variant and disasters strike

A new worldwide wave of Covid-19. Natural disasters in China and Germany. A cyber-attack targeting key South African ports.
25 July 2021, 18:00 PM

Warning signs for global recovery as Delta dims outlook

A drubbing in world equity markets and a huge flight to safety into US Treasuries this week suggests investors now doubt that a much-anticipated return to post-Covid normality is feasible any time soon.
21 July 2021, 12:04 PM

IMF urges countries to shift from economic rescue to reforms

The International Monetary Fund's No. 2 official called on countries to pivot from saving their economies from collapse to reviving growth-oriented policy reforms to boost their recovery prospects and make them more sustainable.
20 July 2021, 15:18 PM