Moviegoers have been going crazy over Black Panther, the new Marvel comic book superhero film. In addition to being a fun romp, the movie holds special emotional significance for many—not just because of its mostly black cast, but because of its setting, Wakanda. A fictional country located somewhere in Africa, Wakanda avoided colonization by foreign powers, and is now wealthy ...
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We can’t engineer our way out of climate change
Could the problem of global warming become so desperate that humans would be willing to take the vast risk of re-engineering our environment? It’s far from a desirable or lasting solution. Yet some scientists have thought deeply about it and concluded that’s what we’ll probably do. The human response to global warming has been so slow that it may be ...
Read More »Trump Jr. may be too much for scandal-weary India
If you lived in one of India’s largest cities, a startling sight would’ve greeted you when you picked up your morning newspaper last Monday: Whole front pages had been replaced by an artists’ impression of a skyscraper. There was to be a Trump tower in your town, the ads declared—something you might have already gleaned from the photograph of Donald ...
Read More »Europe to wind down Latvian bank hit by US over sanctions
Bloomberg European authorities moved to liquidate Latvia’s ABLV Bank AS after clients pulled assets from the lender following US accusations that it laundered money. The European Central Bank, which had already placed a freeze on payments by the lender, said that ABLV was failing or likely to fail, handing it over to Europe’s Single Resolution Board. That authority said a ...
Read More »Citi to refund $335mn after APRs found too high
Bloomberg Citigroup Inc., one of the world’s largest credit-card issuers, said it will refund $335 million to US customers whose annual percentage rate should have been lower. The lender determined that a method it was using to calculate APRs didn’t properly reflect the full benefit customers should have received for good behaviour, such as paying on time, the New York-based ...
Read More »JPMorgan: Pay gap for women only 1 percent
Bloomberg JPMorgan Chase & Co. said that its female employees earn 99 percent of what male employees make globally, making it the fifth large US bank to disclose an adjusted gender pay gap of around one percent. People of color employed by the bank earned more than 99 percent of what white workers made, according to an internal note sent ...
Read More »Housing slowdown no dampener for RBC
Bloomberg Royal Bank of Canada, the nation’s largest mortgage lender, isn’t hurting from a slowing housing market — yet. The Toronto-based bank reported 6.4 percent growth in Canadian residential mortgages in the fiscal first quarter, with average balances climbing to C$238.5 billion ($187.6 billion). That’s down from the 6.6 percent growth rate in the fourth quarter, though it’s still the ...
Read More »Four ex-Deutsche bank traders evade UK Euribor case
Bloomberg Four traders charged in the UK for rigging interest-rate benchmarks at Deutsche Bank AG will escape prosecution after German officials refused requests to send them to London to face trial. Frankfurt prosecutors decided not to turn the men over almost two years after the UK’s Serious Fraud Office first sought extradition. The final decision on the former traders was ...
Read More »Airbus CEO vows to stay in post-Brexit UK long into future
Bloomberg Airbus SE Chief Executive Officer Tom Enders personally promised the UK government the company plans to retain its British operations “long into the future’’ in a turnaround from a staunch critic of the divorce from the European Union. Enders’s promise was made in a letter this month to Business Secretary Greg Clark, according to an official who declined to ...
Read More »India mulls expanding scope of fighter jet order
Bloomberg India is planning to revise the specifications for one of the world’s biggest fighter jet orders, people familiar with the matter said, a move that would allow manufacturers such as Boeing Co. and United Aircraft Corp. to pitch their twin-engine combat aircraft. Prime Minister Narendra Modi’s government has asked the Indian Air Force if the search for fighter jets ...
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