February, 2016

• 27 February

  China gives nod to UN’s new N Korea sanctions

  The United States presented a draft resolution on North Korea to the United Nations Security Council on Thursday. The resolution, which would tighten sanctions on Pyongyang, represents the culmination of nearly two months of negotiations between the United States and China, beginning just after North Korea’s nuclear test on January 6. Final agreement on the resolution came during Chinese Foreign ...

  Read More »
• 27 February

  India’s 2016 Budget: What to expect

  

  It’s early spring and that means India’s national budget session is in the air. The Indian government will be formally presenting its budget for the next fiscal year on Monday. Last year’s $290 billion budget, as I discussed in The Diplomat at the time, showcased a gradualist approach to reforming India’s fiscal policy. The 2016 budget is the second to ...

  Read More »
• 27 February

  Rubio offers responsible rebuttal to Trumpcare

  None of the remaining Republican presidential candidates has a detailed health-care plan. The one who has done the most to outline an agenda, Senator Marco Rubio, is still a bit lighter on those details even than Barack Obama was when he ran in 2008. But Rubio is at least on the right track, while the other candidates are wandering aimlessly, ...

  Read More »
• 27 February

  Evidence China lacks a committed economic direction?

  

  Last November, in a bid to internationalize its currency, China’s yuan was successfully admitted to the International Monetary Fund’s Special Drawing Rights (SDR) basket of reserve currencies, joining the Euro, the U.S. dollar, Japanese yen and British sterling in the cohort of elite currencies. The yuan’s ascension is an economic milestone for China and a political victory for the world’s ...

  Read More »
• 27 February

  London City Airport sale could push leading carriers to leave

  

  LONDON / Bloomberg London City Airport’s sale to a Canadian-led group of investors at a steep premium received a cool reception from both its biggest user and the top UK airline, which said they won’t accept the higher fees that might be imposed to justify the price. Willie Walsh, chief executive officer of International Airlines Group (IAG) SA, said that ...

  Read More »
• 27 February

  Fuel rate dip: British Airways witnesses high annual profit

  

  London / AFP International Airlines Group, owner of British Airways (BA) and Iberia, said that net profit surged 52 percent last year on tumbling fuel prices and its purchase of Irish carrier Aer Lingus. Profit after tax jumped to 1.495 billion euros ($1.654 billion) in 2015 compared with 982 million euros one year earlier, IAG said in an earnings statement. ...

  Read More »
• 27 February

  Republic Airways files for bankruptcy after pilot shortage

  Indianapolis / Bloomberg Short-haul carrier Republic Airways Holdings Inc. filed for bankruptcy, blaming a lack of pilots for its failure to succeed when major airlines are enjoying record profits. Indianapolis-based Republic operates a fleet of smaller planes that provide flights for larger airlines including American Airlines Group Inc., Delta Air Lines Inc. and United Continental Holdings Inc. Although it landed ...

  Read More »
• 27 February

  Air France to undergo 1,605 job cuts in 2016

  PARiS / Bloomberg Air France told a workers’ council it will eliminate 1,605 jobs this year, with all cuts to come through voluntary departures, people familiar with the situation said. Ground staff, including mechanics and airport workers, account for the vast majority of the cuts, with 1,405 jobs set to go, or 3 percent of their total, the people said ...

  Read More »
• 27 February

  Bond dealers to report retail markups

  

  Bloomberg Brokers would have to reveal how much they earn on bond transactions that involve retail clients under a US regulator’s plan for cracking down on inflated commissions. The Financial Industry Regulatory Authority (Finra) proposal, if approved by the Securities and Exchange Commission, would force brokers to report markups on bonds they hold for no more than one day, according ...

  Read More »
• 27 February

  Homebuyers are now scared to dream

  

  BLOOMBERG Rising home prices in hot housing markets are robbing buyers of a favorite pleasure: looking at pictures of homes they can’t afford. Or at least, that’s one way to read a blog post published by real estate brokerage Redfin. Traditionally, buyers browsing online listings have looked at homes that cost more than they are planning to spend, said Redfin. ...

  Read More »