No currency plan B for an independent Scotland, says Salmond August 9, 2014 Scotland's First Minister Alex Salmond has said that, should Scotland vote in favour of independence next month, there is no alternative to a currency union with the UK. In an open letter to voters, published in this morning's edition of The Sun, he wrote: "Plan B implies settling for what's second best. And neither [...]
Don’t take my technician: Court throws out $324.5m settlement for tech firm collusion August 9, 2014 A judge has rejected a $324.5m settlement offered by four Silicon Valley tech firms in a lawsuit brought against them by tech workers, who say that the companies colluded to not poach each other's employees. More than 64,000 of the workers have come together to take Apple, Google, Adobe and Intel to court. [...]
West warns Russia not to use humanitarian mission as a pretext to invade Ukraine August 9, 2014 The UK and US governments have advised Russia against using humanitarian assistance as a cover-up for sending troops to eastern Ukraine. "I am deeply concerned by reports of an increased flow of heavy weapons crossing into Ukrainian sovereign territory from Russia and by reports of Russian armed forces exercising for a 'humanitarian intervention' in [...]
Iraq: British and US airlines among those to suspend flights over the conflict zone August 9, 2014 British Airways announced yesterday that it was suspending all flights over Iraq. A spokesman for Britain's flagship carrier said that the move was “temporary” and that it would "keep the situation under review". Flights that will be affected include those to Dubai and Oman. The move follows a similar decision taken by the [...]
What caused the 2008 financial crisis? Not short selling, it turns out August 8, 2014 It has been asserted that the 2008 financial crisis was precipitated, at least in part, by too many traders using naked short sales to make a profit. According to economist Veljko Fotak from the University at Buffalo School of Management in the US, a number of financial institutions blamed this activity when they had to [...]
US launches an airstrike in Iraq to target Islamic militants August 8, 2014 The US department of defense has launched an airstrike against at Islamic militants in northern Iraq. It said that it had used American aircraft to target artillery that was being used by the Islamic State (IS) against Kurdish forces defending the city of Irbil. The move follows US President Barack Obama's authorisation of [...]
UK trade deficit widens but construction is up August 8, 2014 The UK's trade deficit widened in June for the third consecutive month, going up to £2.5bn from May's figure of £2.4bn. Trade deficit is a measure of the difference between a country's imports and exports – and is a contributing factor to overall economic growth. Goods trade deficit In June, exports of [...]
Ebola outbreak declared an “international health emergency” by World Health Organisation August 8, 2014 The epidemic of Ebola that is spreading through west Africa has been called an “international health emergency” by the World Health Organisation (WHO). Officials from the organisation, who gathered for an emergency meeting in Switzerland to discuss the outbreak, described the case as “particularly serious” because of the virulence. So far, 930 people [...]
Troubled Co-operative Group to shed board members in governance restructure August 8, 2014 The Co-operative Group has announced proposals to reform its governance structure, so that it is “qualified to lead an organisation” of its size. The proposals follow a consultation period with the group's members, and one of the key changes will be a reduction in the number of people on the group's board from 18 [...]
Malaysia Airlines set for “complete overhaul” in the pipeline after MH17 and MH370 disasters August 8, 2014 Malaysia Airlines could face a complete overhaul of its business. Khazanah Nasional, the Malaysian government's strategic investment fund, already owns 69.4 per cent of the company, but now it has proposed buying the remaining stock for 0.27 ringgit per share. If the purchase goes ahead, the airline will be delisted. Early morning trading [...]
