Goma / AFP About 30 civilians have been killed in a massacre in an area of eastern Democratic Republic of Congo that has been shaken by violence since 2014, the army said on Sunday. Suspected rebels of the Allied Democratic Forces (ADF), a partly radical armed group of Ugandan origin, killed “about 30 people†in the town of Beni on ...
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Thai police find unexploded devices
Bangkok /Â AFP Thai police discovered unexploded bombs in three top tourist destinations over the weekend as they searched for clues to a wave of blasts that rocked resort areas and killed four last week. No one has claimed responsibility for the bombing spree, which hit seven southern provinces on Thursday and Friday and left dozens wounded, including European tourists. ...
Read More »Carney to ignore inflation overshoot
London / Bloomberg Bank of England (BOE) Governor Mark Carney isn’t finished yet. Economists in a Bloomberg survey predict another interest-rate cut in November, adding to the stimulus unveiled this month, even as they see UK inflation busting through policy makers’ 2 percent target just months later. The survey also puts the probability of Britain sliding into a recession ...
Read More »Hong Kong court rules against OCBC unit
Hong Kong / Bloomberg Hong Kong’s High Court ruled against Oversea-Chinese Banking Corp.’s (OCBC) private bank in a mis-selling case, saying the unit and a relationship manager had breached their contractual duty towards an elderly couple who lost money on investments made with ING Asia Private Bank. In a court judgment dated Aug. 8, the court said Bank of ...
Read More »Philippines bank approves easing of foreign exchange rules
Manila / Bloomberg The Philippine central bank approved a significant increase in the amount of foreign exchange that companies and individuals can buy without documentation in what analysts say is a bid to reduce the number of black market currency trades. The Bangko Sentral ng Pilipinas said in a statement that from September 15, the amount of foreign exchange ...
Read More »Secret Swiss bank accounts aren’t so secret anymore
Bloomberg Crime writers and Hollywood producers take note: Secret Swiss bank accounts aren’t so secret anymore. Switzerland’s reputation for tight-lipped discretion made it a magnet for money from dictators and tax dodgers, along with the fictional assassin Jason Bourne. Now whistleblowers and a crackdown after the 2008 financial crisis are creating a world less tolerant of offshore havens. That’s ...
Read More »Tepid retail lowers US growth expectations
AP A sluggish month of retail spending has tempered expectations for the US economy’s growth in the coming months. Consumers pulled back on shopping and eating out in July after three straight solid monthly gains, the government said Friday. Those declines were offset by increases in auto sales and online and catalog sales. Many economists credited the surge in ...
Read More »Fatal private plane crashes reach new lows
Bloomberg Fatalities in crashes of small private planes have fallen to the lowest levels in decades as industry and government work to address an area of aviation that has lagged behind jetliners in dramatic safety improvements. While aviation crash analysts caution that it’s still too early to say for sure that the data represents a long-term trend, the declining ...
Read More »A look at Wal-Mart’s food lab
AP Wal-Mart opened a 12,000-square-foot culinary and innovation center at its headquarters in June as a place where the nation’s largest food retailer can work with major suppliers to come up with new food ideas, and develop ideas on its own to bolster its store-brand selection. HERE’S A PEEK AT THE FOOD LAB WHAT IT IS: The center has ...
Read More »You may hate Delta now, but here’s why you’ll be back
Bloomberg It’s been a messy summer for US airlines and their passengers, with half the Big Four carriers suffering technology meltdowns over the past month. July and August are peak season for airlines in terms of passenger loads, making the type of systemwide glitches that befell Delta Air Lines Inc. and Southwest Airlines Co. all the tougher to navigate ...
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