Summers drops role as Citigroup consultant

Summers drops role as Citigroup consultant (via AFP)

Former treasury secretary Larry Summers has stopped working as a consultant for Citigroup while he is under consideration to be the next Federal Reserve chairman, Citigroup said Sunday. Summers was a consultant for the group in 2012 and this year, Citigroup…


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Lufthansa boss ‘plans to quit’

Lufthansa boss ‘plans to quit’ (via AFP)

The head of German airline Lufthansa, Christoph Franz, plans to step down, the daily Die Welt reported Sunday in its online edition, quoting his inner circle. Asked by AFP about the report, a Lufthansa spokesman said the company “never comments on speculation…

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Portugal faces another bailout review

Portugal faces another bailout review (via AFP)

International auditors arrive in Lisbon on Monday to begin an eighth evaluation of Portugal’s economy under its 78-billion-euro bailout as government austerity measures get bogged down and borrowing costs soar. The experts from Portugal’s so-called “…

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Low wages, the flip-side to booming German economy

Low wages, the flip-side to booming German economy (via AFP)

Chancellor Angela Merkel often boasts during the campaign for September 22 elections that Germany has one of Europe’s lowest jobless rates — at around 6.8 percent. But it comes at a price. As many as three million people in Europe’s top economy earn…

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British car industry roars by European rivals

British car industry roars by European rivals (via AFP)

Britain is accelerating away from its European competitors in the car-making sector with investment flowing into the factories of Nissan and Jaguar Land Rover as Chinese and American demand drives sales. Jaguar Land Rover said on Tuesday it was pumping…

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Flying towards the stockmarket

Flying towards the stockmarket (via The Economist)

WHEN the news came, it was delivered appropriately in the form of a tweet. On September 12th Twitter revealed via its own micro-blogging service that it had begun a process with America’s Securities & Exchange Commission that should ultimately lead…


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Strike trouble for Greece ahead of creditor audit

Strike trouble for Greece ahead of creditor audit (via AFP)

Debt-wracked Greece is bracing for a fresh series of strikes this week against a redeployment scheme affecting thousands of civil servants, as its creditors arrive to examine reforms carried out by Athens in exchange for new loans. Greece has agreed…

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Gulf’s $1.5 trillion oil wildcat play marks post-spill drilling ‘renaissance’

Gulf’s $1.5 trillion oil wildcat play marks post-spill drilling ‘renaissance’ (via The Christian Science Monitor)

The satellite oil rig ‘Danny Adkins,’ owned by Noble Oil, is seen on the horizon from the Perdido platform in the Gulf of Mexico. (Jon Fahey/AP) Deep below the Gulf of Mexico lies a structure called the Lower Tertiary, long thought by academics to be…

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Hong Kong’s hunt for homes threatens green spaces

Hong Kong’s hunt for homes threatens green spaces (via AFP)

As one of the world’s most densely populated cities, Hong Kong is searching for more space to house thousands priced out of its sky-high property market — raising fears for its cherished nature reserves. A government minister’s suggestion this week…

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Euro finance ministers warn against complacency

Bailouts, recovery on Eurozone finance ministers agenda (via AFP)

Eurozone finance ministers met Friday, exuding more confidence as the bloc returns to growth, but still mindful that bailed-out member states must meet their targets amid speculation some need more help. The eurozone finally escaped a deep 18-month…

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Japan railway unveils super-luxury train

Japan railway unveils super-luxury train (via AFP)

A Japanese railway operator on Friday unveiled a new super-luxury train it hopes will appeal to well-heeled travellers who don’t mind splashing out to have their every travelling need fulfilled. Kyushu Railway’s “Nanatsuboshi” — Seven Stars — service…

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