Next global meltdown looming closer, warns IMF
The chances of another global financial meltdown are increasing significantly, the International Monetary Fund (IMF) warns. It is no longer a question of whether...
EU takes aim at migrant smugglers
The EU (European Union) has activated Operation Sophia, a coordinated military operation aimed at catching migrant smugglers by intercepting their boats in the southern...
Tesco’s half year profits more than halved
Tesco reported a big drop in profits for the first half of its financial year, despite a slight improvement in like-for-like sales.
The UK’s largest supermarket...
UK wind energy sector generated £1.25 billion for the economy last year
A total of £1.25 billion was invested into the UK economy last year because of wind energy, according to a new industry report by...
Wall Street facing worst year since 2008
Not since the death of Lehman Brothers in 2008 has Wall Street had such a bad year. Experts say 2015 is set to be...
BP to pay $20.8 billion in fines for Deepwater Horizon oil spill
BP plc agreed to pay a record $20.8 billion to the US government to settle claims that stem from damages caused by the 2010...
Government to sell £2 billion stake in Lloyds to the public
The UK government announced that it plans to sell £2 billion worth of Lloyds shares to retail investors next spring.
The sale would see the bank...
Rolls Royce reportedly shedding 400 jobs in its marine division
Rolls-Royce Holdings PLC is expected to announce 400 job cuts in its marine division later this week, according to a recent report published by the...
Supermarkets to begin charging 5p for plastic bags in the UK
Consumers across England will soon have to pay 5p per single-use carrier bag they use at major supermarket chains.
The new government scheme is part...
Volkswagen scandal will not hurt German industry reputation, says Merkel
In September 2015, the US Environmental Protection Agency found that Volkswagen had violated the Clean Air Act by circumventing environmental regulations illegally, i.e. cheating...