Economy

Economy Latest News

Australia moves to keep its banks in the Pacific
Australia moves to keep its banks in the Pacific
by  AFP

Australia will move to stem the exodus of its banks from the Pacific Islands, the country's top economic official said, as concerns mount that China could bolster its influence by filling in the gaps. Australia and China are locked in "a state of permanent contest in the Pacific", Australia's foreign minister said earlier this year.

Italy and Lufthansa reach deal on ITA Airways stake
Italy and Lufthansa reach deal on ITA Airways stake
by  AFP

The Italian government and Lufthansa reached a deal on the sale of a stake in flag carrier ITA Airways to the German airline, Rome announced Monday evening, hours before a midnight deadline to present the agreement to European regulators.

Defunct crypto group FTX seeks to claw back $1.8 bn from Binance
Defunct crypto group FTX seeks to claw back $1.8 bn from Binance
by  AFP

The liquidators of the defunct cryptocurrency exchange FTX have sued to try to claw back $1.8 billion paid by the company to competitor Binance the year before its bankruptcy, according to court documents filed Sunday. After FTX filed for bankruptcy in November 2022, a liquidation plan for the company's assets was approved in early October by federal judge John Dorsey.

Lindt melted own 'excellence' claim in US lawsuit: reports
Lindt melted own 'excellence' claim in US lawsuit: reports
by  AFP

In a bid to dodge a US lawsuit, Swiss chocolatier Lindt & Sprungli has scuppered its own claims about the excellence of its products -- a cornerstone of its marketing strategy. "In its defence strategy, the company has dismantled its own promises of quality," claimed the Swiss newspaper NZZ am Sonntag, raking over a September US court decision.

'London's best-kept secret': UK's largest wholesale market turns 50
'London's best-kept secret': UK's largest wholesale market turns 50
by  AFP

By the time most Londoners had rolled out of bed on Monday morning, Gary Marshall was already winding down for the day at New Covent Garden Market. "If you're here at one, two or three in the morning, it's like a little city with hundreds and hundreds of people," said Wanda Goldwag, chair of the Covent Garden Market Authority, which manages New Covent Garden Market.

Page was generated in 0.16711902618408