International News

  Bloomberg Brexit is going to cause the British economy to slow less than originally thought, according to the OECD. The Paris-based Organization for Economic Cooperation and Development revised up its UK growth forecasts to 2 percent from 1.8 percent this year, and to 1.2 percent from 1 percent in 2017, according to its November Economic Outlook. An inflation-induced pinch ...

  London / AFP India’s Tata Steel said on Monday that it has agreed to start exclusive talks for the sale of its speciality steel assets to metal processing firm Liberty House. The unit, which has activities mostly in Britain but also in China, employs 1,700 people and produces specialised steel for the aerospace and automotive industries, as well as ...

  London / AFP Riders for the British food courier service Deliveroo are taking legal action on Monday to demand workers’ rights in a new challenge to the so-called gig economy. In a test case that follows a court victory by Uber cab drivers, the application is being made by the Independent Workers Union of Great Britain on behalf of ...

  Chernobyl / AFP The world’s largest metal moveable structure will be unveiled on Tuesday over the Chernobyl nuclear power plant’s doomed fourth reactor in Ukraine to ensure the safety of future generations across Europe. The giant arch — nearly as long as two football pitches and taller than New York’s Statue of Liberty — will edge into place over ...

  FRANKFURT / AP Volkswagen is coming out with a new model that will add to its offerings of larger cars in the United States, where its market share has lagged the competition. The German company released a sketch on Monday of the Arteon, a four-door with a sloping roofline. It is to be unveiled at the Geneva auto show ...

  AFP Chinese household debt has risen at an “alarming” pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world’s second largest economy. Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers. Skyrocketing real estate prices in major Chinese cities in ...

  AFP An International Olympic Committee (IOC) official said on Sunday that detailed options for moving some Tokyo 2020 venues will be presented this week at a key four-party meeting. Tokyo is eyeing ways to save money after warnings that skyrocketing costs could hit an eye-watering $30 billion — four times the initial estimate and almost triple that of the ...

  AFP Prime Minister Narendra Modi’s shock decision to scrap most of India’s curr- ency was hailed by some as a masterstroke against endemic corruption, but signs are emerging that it may hit the economy hard. The sweeping overnight abolition of all high-value notes was supposed to bring billions in so-called “black”, or undeclared, money back into the formal system. ...

  Bloomberg Indian Prime Minister Narendra Modi used a radio address on Sunday to assure the country that the cash crisis caused by his plan to remove large-denomination bills from circulation will ease within his proposed 50-day period. Modi said in the monthly radio address that the difficulties India has encountered since he announced a ban on the use of ...

  Bloomberg Leaders of the campaign for Britain to quit the European Union rejected a plan reportedly being devised by Bank of England Governor Mark Carney to negotiate a “buffer” to allow companies to adjust to the UK leaving the bloc. Former Justice Secretary Michael Gove, who failed in a bid to lead the Conservative Party after David Cameron quit ...