Hurricane Ian could be insurance sector’s biggest loss since Hurricane Katrina October 27, 2022 Hurricane Ian threatens to become the insurance sector’s second biggest loss since Hurricane Katrina, with cost estimates to the industry ranging from $40-60bn (£35-52bn). The Category 4 storm that hit Florida in late September was the deadliest storm to hit the sunshine state since the Labor Day Hurricane in 1935. Hurricane Ian hit Cuba within [...]
US employment market tightens as companies add 263,000 jobs October 7, 2022 US employers added 263,000 jobs in September as the country’s unemployment rate dropped to 3.5 per cent, figures from the Bureau of Labour Statistics show. Economists polled by Reuters had previously expected US employers would add 250,000 jobs in September. The figures mark both a slowdown and a tightening of the US jobs market, [...]
Beyond Meat exec arrested for biting man during road rage incident September 20, 2022 A top executive at one of the world’s biggest fake meat sellers has been arrested for biting flesh off another man’s nose, according to US media reports. Douglas Ramsey, who joined Beyond Meat last December, faces charges of third-degree battery and “terroristic threatening,” police reports show The 53-year-old chief operating officer was arrested on Saturday [...]
Five Chinese firms vow to delist from US markets amid long running audit dispute August 13, 2022 Five Chinese state-owned companies have said they will pull themselves off the New York stock exchange amid long-running clashes between Beijing and Washington over audit standards. The five Chinese firms have said they will delist from the Wall Street market after coming under scrutiny over US regulators claims they have failed to meet US audit [...]
Depleted chickpea crops across world as prices of hummus products surge this year July 10, 2022 Hummus lovers may be forced to cough up more for their favourite snack as global chickpea supplies are set to be depleted this year, amid the war in Ukraine. Poor weather and the war between Russia and Ukraine has dealt a blow to farmers growing the protein. Chickpea supplies could be down some 20 per [...]
Iran seizes Greek oil tankers in escalation of Tehran’s spat with Western powers May 28, 2022 Iran’s Revolutionary Guards have seized two Greek oil tankers, after the Iranian government said it would take “punitive action” against Greece over its seizure of an Iranian oil cargo last month. Iran’s Islamic Revolutionary Guard Corp (IRGC) said it had seized two Greek tankers sailing in international waters off the coast of Iran. The seizures [...]
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]
US income gap widens between staff and management as executives report record earnings April 4, 2022 The US income gap between staff and management has widened this year, after executives reported record earnings over the last 12 months. According to information supplier ISS Company Options, more than half of S&P companies, the median pay for a chief executive went up from $13.5m in 2020 to$14.2m last year, the Financial Times reported. [...]
Russian aircraft in US scramble to fly out as airspace closes this evening March 2, 2022 Russian aircraft are left with only a few hours to leave the US, as the White House followed in the UK and Europe’s footsteps and decided to close its airspace to Moscow from tonight. “The United States stands with our allies and partners across the world in responding to Putin’s unprovoked aggression against the people [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]