Business And Finance

Big business sees the promise of clean energy

PITY America’s big businesses. For years their efforts to reduce their carbon footprint were dismissed by environmentalists as “greenwashing”. Now, after months trying to persuade a supposedly pro-business new president, Donald Trump, of the merits of staying in the Paris climate accord, he practically laughed in their faces by withdrawing on June 1st. Executives fear the exit will do no ...

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Markets struggle to make sense of Britain’s election chaos

UK politicsRead more British election coverage THERESA MAY decided to call a snap election on a walking holiday in Wales. History will regard it as the most disastrous ramble since Captain Oates wandered out of the Antarctic tent in 1912. Having failed to anticipate the result, investors (like everybody else) are struggling to understand what will happen next.  It looks ...

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Britain’s vote catches out the markets—again

SO AN election that was called to give Theresa May a mandate to negotiate Brexit looks like it has done anything but. The exit poll suggested that the Conservatives would have the most seats, but short of a majority with 314. Add in the Ulster Unionists and allow for the fact that Sinn Fein MPs don’t take their seats and ...

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Why the Fed is likely to raise rates, despite low inflation

CREDIBILITY is a thing you have to worry about with toddlers. You cannot reason with them. The best you can hope to do is respond consistently to undesirable behaviour. Get this wrong and your work becomes harder. If your correspondent doesn’t actually go and hide the box of Legos every time he has to count to three, for example, his ...

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Political ostracism means more woe for Qatar Airways

AFTER years of ascension, the three Gulf superconnectors, Emirates, Etihad and Qatar Airways, have recently suffered a bad spell. The low price of oil—usually a boon for airlines—has reduced spending power in oil-rich states, which has dampened demand for flights from the region. Terrorist attacks throughout the Middle East, too, have proved a deterrent. Then came Donald Trump. The president’s ...

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Britain needs a second flag-carrier

AIRLINES, like all firms, have a duty to shareholders to cut costs, if it makes them more competitive and more profitable in the long term. British Airways has been zealous in this regard. Over the past few years, the airline, under the stewardship of Willie Walsh and Alex Cruz, has cut staff, outsourced IT, and removed complimentary goodies from passengers. ...

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Eastern Bank: a 199-year-old lender becomes a tech pioneer

LIKE other local bankers, Bob Rivers is counting the cost of red tape. At the end of 2015 and 2016 Eastern Bank, a Boston lender of which he is the chief executive, held its balance-sheet below $10bn by briefly parking some deposits elsewhere. Now Eastern—America’s oldest and largest mutual bank, founded in 1818—has crossed the threshold. It will thus become ...

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The race to become Islamic banking’s fintech hub

FOR all the sophistication of some of its financial centres, and despite the ubiquity of smartphones, the Middle East has been a late adopter of financial technology, or fintech. Of more than $50bn in fintech investment globally since 2010, according to Accenture, a consultancy, only 1% has gone to the Middle East and north Africa. Khalid Al Rumaihi, head of ...

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