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Look to Russia and China for the real reason why gold prices are soaring
A retailer is rare even in this exclusive district of London's St James's Street. Among the gentleman's clubs, shops that sell top-end cigars and shotguns are a number of retailers who have specialized in selling these items.
Sharps…
Holiday Inn reveals growth despite slump in China
The FTSE-100 hotel group that owns the Holiday Inn, Crowne Plaza and other chains was impacted by a weakening of demand in China.
InterContinental Hotels Group said global revenue per room available, or Revpar, the key industry measure,…
Iranian markets fall and flights are cancelled amid Israeli attacks
Iran's currency has declined, and many foreign airlines have suspended their flights as they prepare for a retaliatory Israeli attack against the Islamic Republic.
On the open market, the rial fell almost 5 percent to 640,000 dollars on…
Rio Tinto’s Iron Shipments Hold Stable Despite Chinese Slump
The iron ore exports of the second-largest miner in the world have remained steady, despite the "uneven" recovery of the Chinese economy. China's property sector remains in a slump.
Rio Tinto, the world's largest producer of industrial…
BMW wants the ban on petrol and diesel car sales by 2035 to be lifted
BMW has asked the European Commission reconsider its plan to ban all new petrol and diesel engines by 2035.
Oliver Zipse said that the European Union's ban on the sale of zero-emission cars was a response to the "trend towards pessimism"…
Fears that a spill in Gibraltar could be caused by a shadow fleet transporting Russian oil
The Strait of Gibraltar has seen more than half of the Russian crude oil transported by dangerous "shadow fleets" of vessels pass through this year. This raises concerns about an environmental disaster.
According to a report by the Kyiv…
The 2025 Budget of French PM Michel Barnier includes shock therapy
In an effort to reduce its growing deficit, the French government proposed a budget that would cut spending by €60bn and increase taxes on wealthy companies. Prime Minister Michel Barnier made tackling France's 'colossal' public debt his…
Portugal aims to become a low-tax haven of young people
Portugal plans to become a tax-free haven for young people by offering them a decade's worth of tax breaks. This is to stop a brain drain. The centre-right government of the country wants to reduce income tax burdens on young people over a…
Florida examines wreckage caused by Hurricane Milton
On Thursday, rescue operations began in Florida as officials assessed the damage caused by Hurricane Milton. The storm had crossed the state over night and left millions of people without electricity.
Florida Governor Ron DeSantis said…
Unilever finally sells a Russian unit to a local tycoon, after years of intense pressure
Unilever sold its Russian subsidiary for €520m to a local group after being criticized for continuing operations in the country following its invasion of Ukraine. Unilever, the London-listed consumer company, has been called a "sponsor" of…
Hurricane Milton hits Florida
On Wednesday evening, Hurricane Milton hit Florida's heavily populated west coast. The storm brought life-threatening floods and extreme winds for the second time within two weeks.
US National Hurricane Center reported that the cyclone,…
India bails out Maldives following president’s softening of stance towards China
India announced a $760mn bailout package for the Maldives. The cash-strapped Indian Ocean island nation turned to New Delhi in order to avoid a sovereign default, despite its president's attempts to lean towards China. India's Central Bank…
Fear of Israeli attacks on Iran drives up oil prices
Oil prices reached their highest level in over a month, amid fears of retaliatory attacks by Israel on Iranian oil installations. Biden responded, "We are in the process of discussing that," adding "I think it would be a bit... anyway."…
Oil prices increase after Iran missile attacks on Israel
The oil price rose by 4 percent after Iran launched an attack on Israel, the latest escalation of the conflict in the Middle East. One-month contracts for crude (the international benchmark) increased by $3.10 or 4 percent to $74.95 per…
The co-founders and venture capitalists of Silicon Valley’s Silicon Valley Venture Capital…
The co-founders from Silicon Valley's largest venture capital firm announced that they support Donald Trump in his bid for reelection and will make large donations to further back him.
Ben Horowitz (A16Z) and Marc Andreessen (Andreessen…
Bets on Fed rate reductions and Trump victory drive gold price to record high
The gold price reached a new record on Tuesday, as the prospect of Federal Reserve rate cuts and a Donald Trump second term in office provided a double boost for the precious metal.
Gold rose 1.7 percent to $2,465 per troy-ounce,…
The far-left suspends talks, causing a tremor in France’s leftist coalition
The alliance of far-left parties that won the majority of seats in the French parliamentary elections on Monday suspended all talks with their partners, throwing the efforts by the left to capitalize on its win into chaos.
The newly…
Philippines secretly strengthens ship at the centre of South China Sea dispute
Six people with knowledge of the operation claim that the Philippines secretly strengthened a dilapidated ship marooned in a South China Sea coral reef at the center of a dangerous dispute between Beijing and Manila.
People said that in…