FOR months, a bail-out had seemed likely; for weeks, unavoidable. On December 23rd it became fact. Monte dei Paschi di Siena, Italy’s third-largest bank and Europe’s most troubled, announced it had requested state help. The European Central Bank (ECB), Monte dei Paschi’s supervisor, had given it until the end of the year to find €5bn… Continue reading The state steps in to rescue Monte dei Paschi di Siena
NEWS that a domestic flight operated by Afriqiyah Airways, a state-owned Libyan airline, has been hijacked and flown to Europe should shock and appal an industry that has, since 9/11, spared no expense to end the scourge of such horrors. Events are still unfolding, but it is clear that two men claiming to have grenades… Continue reading A domestic flight in Libya turns into a European hijacking crisis
WELL, it might have been worse. Early on December 23rd Deutsche Bank announced that it had reached a settlement “in principle” with America’s Department of Justice (DoJ), over claims that it had mis-sold residential mortgage-backed securities (RMBSs) in 2005-07, in the run-up to the financial crisis. Deutsche says the agreement is worth $7.2bn—a far cry… Continue reading Germany’s biggest lender reaches a settlement with America’s Department of Justice
SOME 45.2m passengers are expected to fly on America’s airlines during the three-week holiday season that began last Friday. That is 3.5% more than flew during the same period last year, adding volume to an already-high baseline: the days around Christmas and New Year typically see 23% more travel than the rest of the year.… Continue reading More Americans will be flying over Christmas. Can airports cope?
DELTA AIR LINES found itself at the centre of a social-media storm when Adam Saleh, a YouTube personality who posts about life as a Muslim American, was removed from one of its flights for—apparently—no greater crime than speaking Arabic. Mr Saleh is not the first passenger of Middle Eastern descent to allege discriminatory treatment by… Continue reading A YouTube star says he was forced off a flight for speaking Arabic
Well, it happened. The Federal Reserve raised interest rates in response to signs of a stable and strengthening economy. This is the second rate increase by the Federal Reserve in the last 10 years (the last one came in December 2015), following a period of low rates designed to promote quicker economic growth in the… Continue reading Fed Increases Interest Rate, Time to Check Yours
We look at the decline in holiday spending in America and ask what surprises 2017 could bring. And Adrian Wooldridge takes on the ghosts of capitalism past, present and future <param name="labels"…Continue reading from Business and finance http://www.economist.com/blogs/freeexchange/2016/12/podcast-money-talks-0?fsrc=rss