Category Archive: News
Luxottica and Essilor see eye-to-eye in merger
On January 16, French lens producer Essilor announced it will merge with Ray-Ban designer, Luxottica, in a deal worth €50bn ($53bn) – creating a powerhouse in the global eyewear market. [The merger could] substantially shake up the international eyewear industry… with the combined company operat[ing] in over 150 countries Leonardo Del Vecchio, Chairman of Delfin and […]
Spanish inflation reaches three-year high
According to data released by Spain’s Office of National Statistics on January 13, Spanish inflation jumped to a three-year high in December 2016. The annual change in the consumer price index reached 1.6 percent in December, up 0.9 percent from the previous month. Meanwhile, the annual change in the Harmonised Index of Consumer Prices hit […]
Global growth set to accelerate following post-crisis low in 2016
A World Bank report has branded 2016 as the worst year for global growth since the Global Financial Crisis, with growth estimated at just 2.3 percent. While the forecast for 2017 is slightly more optimistic – at 2.7 percent – the World Bank warns many uncertainties remain and political risks have the potential to undermine […]
China set to grind down its salt monopoly in market shake-up
China’s state control of the salt sector – thought to date back to the seventh century BC – was officially dismantled on January 1 as salt producers were exposed to market forces. The monopolistic system was previously under full state control, with producers required to operate under a national quota. Under the new reforms, licensed […]
Fed interest rate rises amid ‘vote of confidence’
Following a unanimous decision by the Federal Open Market Committee on December 14, the Federal Reserve announced an increase of 0.25 percent in the US federal funds’ interest rate – rising to 0.75 percent. The rate increase was broadly anticipated by commentators and reflects positive momentum in the US economy – with rising inflation and an improving […]
IMF chief on trial in Paris
On December 12, Christine Lagarde put her responsibilities as president of the International Monetary Fund (IMF) to one side as she faced trial on official charges of ‘negligence by a person in position of public authority’. The charges relate to an arbitrage payment she approved during her time as the finance minister of France – […]
India cuts out cash for online payments
In a world first, Indian citizens have been offered a 10 percent discount on insurance policies, highway tolls and train tickets purchased online. India’s Finance Minister, Arun Jaitley, said the government also plans to waive the service tax for online transactions below 2,000 rupees ($29.70) and introduce a 0.75 percent discount on cashless petrol station purchases. […]
US trade deficit widens 17.5%
On December 6, The US Department of Commerce released figures showing a hike in the size of the US trade deficit – its biggest monthly rise for more than one-and-a-half years. Looking forward, there appears to be little hope that the deficit will see a substantial improvement. Growth in consumer spending looks set to maintain […]
Amazon enters the student loan business, offering discounts for Prime members
Amazon is about to enter into the student loan business, alongside Wells Fargo, with the promise of cheaper rates for those who pay for a ‘Prime Student’ subscription. The decision means subscribers to the service will receive discounts, free and fast delivery, video streaming services and reduced fees for student loans as part of the $49-a-year […]
RBC
CanadaRBCCanada’s RBC consistently ranks among the country’s most socially responsible corporations and has one of the most admired corporate cultures going. For these reasons and a string of others, the bank’s success in retail has been boosted by a well-earned positive reputation and the assurance that any customer’s savings are safe with RBC. www.rbc.com
