Greece crisis proves the need for a currency Plan B
Introducing an alternative currency is not particularly difficult as long as the fundamentals of currency design are understood by its architects The recent Greek capitulation under pressure from other euro member countries, led by Germany, demonstrates that euro members have de facto ceded sovereignty over fiscal policy to the EU. While this arrangement may be […]
Npower profits plunge 60% amid ongoing billing problems
Long-running billing controversy, customer complaints and Ofgem intervention hurts profits Profits at npower have tumbled 60% as it struggles with billing problems which have sent customer complaints soaring. Many customers have been receiving late bills or no bills at all, since npower introduced a new billing system in 2013. Continue reading… Source: The Guardian Circular […]
Gold loses lustre as Asian buyers retreat
Global demand for gold tumbles by 12% in second quarter as China and India lose appetite for jewellery Global demand for gold has declined in recent months as key Asian markets lose their appetite for jewellery. “Total demand was 915 tonnes, a fall of 12% compared with the same period last year, due mainly to […]
Cineworld boosted by Fifty Shades and Jurassic World, with more to come
Profits surge and company optimistic ahead of Star Wars and Spectre A string of blockbusters including Jurassic World, Avengers: Age of Ultron and 50 Shades of Grey has boosted business at Cineworld. A rise in adult ticket sales and the growing popularity of premium Imax showings – plus price rises – saw the average ticket […]
Under the sea: the underwater farms growing basil, strawberries and lettuce
Scuba divers and agricultural experts develop a project to work out if growing plants in pods on the seabed could be a viable solution to future food security Beneath the blue waters 100m off the coast of Noli in northwest Italy lies a cluster of balloon-like pods pegged to the seabed by ropes half a […]
Tunisian attacks dominate Tui Travel results
Chief executive says there are no guarantees it will restart holidays in Tunisia once Foreign Office advice on travel to the country changes Holiday company Tui Travel has revealed that the Tunisian beach attacks cost it as much as €40m (£28m) in cancelled bookings and empty hotel costs. Of the 38 people killed on the […]
FTSE lifted by Chinese currency comments but G4S slides on sell note
Goldman warns of investment costs and slowing markets for security group Leading shares have recovered some ground after a fraught few days, as China’s central bank said there was no basis for any further devaluation of its currency. The three effective attempts to weaken the yuan have sent markets into a spin, with mining shares […]
Kipper Williams on Chinese currency movements
China intervenes to lower yuan Continue reading… Source: The Guardian Circular Economy RSS
China plays down devaluation fears as yuan cut for third straight day
Deputy central bank governor, Zhang Xiaohui, says yuan is close to ‘market levels’ after two days of declines China’s central bank has dismissed concerns that the yuan has further to fall, bringing a sense of calm to global markets that were rocked earlier this week by the biggest devaluation in 20 years. The People’s Bank […]
James Packer steps down as chairman of Crown Resorts casino group
Australian billionaire hands over top job but says he will stay on as executive director as company delivers mixed full-year results for 2015 James Packer has stepped down as the chairman of his casino group Crown Resorts. The billionaire made the announcement on Thursday morning, saying he will stay on as a senior executive director. […]