It’s the turn of professionals to find a solution to the debt crisis of two beleaguered nations, Greece and Italy, which shook the very existence of eurozone. Now the political leadership of these two nations is going to be in the hands of technocratic economists in the desperate bid to lead them out of the debt trap.
Europe's key crisis figures have all Goldman Sachs in their pedigree. Is it just a coincidence or is the financial world is trying to take over Europe?
It is time Karl Marx's classic opening statement of the Communist Manifesto is reworded into something on the lines of: "A spectre is haunting Europe - the spectre of a double dip. All the powers of Europe have entered into a holy alliance to exorcise this spectre."
Affable, reserved, highly-respected, Italian's probable new Prime Minister Mario Monti seems to represent the antidote to Silvio Berlusconi's discredited dominance of Italian politics, the "man who screwed an entire country".
The Italian Senate has approved the austerity law, a package of measures designed to avoid a Eurozone breakdown. The law should get final approval by the lower house at the weekend, leaving the way for Prime Minister Silvio Berlusconi to step down. The senate voted by 156 to 12 in favour of the austerity package.
It seems all is well with Jaguar Land Rover (JLR) as their profit books are full with record sales in markets around the globe. The announcement of JLR on Thursday to create 1000 new jobs in Solihull amidst the current economic turmoil is seen as a reflection of resurgent automobile market.
Italy's upper chamber, the Senate, will debate and vote Friday on austerity measures demanded by the EU to avoid a eurozone breakdown, while a new emergency government could take over Silvio Berlusconi's administration within days.
Qualcomm has announced its first Wireless Electric Vehicle Charging (WEVC) trial for London, in line with the government’s efforts to make the capital a zero emission city. The US mobile technology giant is collaborating with the UK government along with the Mayor of London’s office and Transport for London to (TfL) to deliver the trial.
A leading business group has urged the government and businesses to adopt a two-pronged approach to deliver both short and long-term solutions to the housing crisis.
HM Revenue and Customs (HMRC), has urged the UK public to be cautious about the extra charges they have to pay for online purchases of “bargain goods” from the non EU countries. The tax collector has issued the warning in view of the increased online buying and overseas shopping during the Christmas season.
The deepening crisis in the Eurozone has given rise to a lot of speculation about the future of the region in its present shape.
Shell's failure to clean up two oil spills in the Niger Delta in 2008 has caused huge suffering to locals whose fisheries and farmland were poisoned, and the company must pay an initial $1 billion to set up a mop up fund, Amnesty International said on Thursday.
Councils are losing out on billions of pounds to fraudsters, according to an Audit Commission report.
The German government is not pursuing the idea of a smaller and more integrated Europe, according to Steffen Seiber, German Chancellor Angela Merkel's spokesman.
UK interest rates are held at 0.5%, the same rate since March 2009.
The current economic slowdown has created huge regional economic disparities in Britain with Wales, West Midlands and Yorkshire facing the worst, reports Pricewaterhouse Coopers. Though the unemployment rate and other growth indicators are negative for London, the city has fared better compared to the other regions.
In an unexpected, dramatic move, Italian President Giorgio Napolitano has appointed economist Mario Monti as senator-for-life, bringing him into parliament and positioning him as a possible prime minister.
Italy's business lobby, the equivalent of Britain's CBI, has urged quick government action and warned that the country risks being unable to meet its financial needs.
The jargon “bangalored” has returned in all its vigour after a period of lull in the outsourcing sector as a result of shrinking contracts and delayed decision making by customers. The worsening debt crisis in the eurozone is making it all the more important for companies to cut their operating costs.
The Eurozone is greeted by worsening news each day as Germany and France try to save the currency and the concept. The latest to join the league of bail-out seekers is Italy as the country’s 10-year bond yields reached more than 7 percent on Wednesday.
The Government’s spending watchdog has urged local councils and other related bodies to boost their counter-fraud defences with a view to tackling criminals who con them by using the data they post on their own websites under transparency drives.
Live coverage of the London student demonstrations against higher education cuts.
It is not the food prices that are causing the monthly household expenditure going over the roof for the British citizens, according to the latest British Retail Consortium (BRC) report on Shop Price Index 2011. Rising utility, fuel and insurance bill are the real culprits and driving the household spending to a higher range.
The Confederation of British Industry on Wednesday urged Chancellor George Osborne to continue austerity measures to safeguard Britain’s prestigious AAA credit rating. The leading business lobbying group also slashed its GDP projections.
Vodafone, Britain’s biggest mobile phone company denied any ‘sweetheart’ deal with HMRC in a reported multibillion tax bill. The company was accused of settling a tax dispute by paying just £1.25 billion last year as the actual amount is still not clear.
Nissan Motor Corp Ltd, Japan’s second largest automotive company by volume, is planning to start 400 free charging stations across Europe by February 2012. As part of its plans to set up a European-wide Quick Charge (QC) network across prominent locations in Europe, the company is giving away the charging stations free of cost to the operators.
The Office for Fair Trading (OFT) has confirmed that it is pursuing a £121.5m fine it had imposed on British Airways (BA) following the alleged collusion between BA and Virgin Atlantic over the pricing of passenger fuel surcharges on transatlantic flights between August 2004 and January 2006.
Two of Britain's biggest High Street names have posted worrying financial reports.
Silvio Berlusconi will face on Tuesday a crucial vote on Italy's public accounts while the interest rate on Italian ten-year bond hits another high of 6.733 per cent.
Leading airline Ryanair is planning to introduce a pornography service for passengers during flights, claims news report
