AFTER the results of Britain’s EU referendum were announced, European airlines’ shares plummeted. Some, such as Ryanair, Europe’s biggest budget carrier, talked about shifting their focus away from Britain. However, the continent’s second biggest, easyJet, which is headquartered in Luton, insisted it was going nowhere. The success of that strategy will depend on the terms… Continue reading EasyJet will not be the last airline to announce disappointing results this year
IN LATE 2008, during a briefing at the London School of Economics, Queen Elizabeth II famously asked why no-one had seen the downturn coming. There can be no better answer than the current furore over the outlook for the British economy in the wake of the vote to leave the EU. A poll by Bloomberg… Continue reading Why people don’t tend to forecast recessions
HAVING smouldered for more than a year, international investigations into 1MDB—a Malaysian state investment firm at the heart of a sprawling financial scandal—are now burning fiercely. On July 20th America’s Justice Department began proceedings to seize more than $1 billion of assets, which it alleged had been purchased with funds siphoned out of the firm.… Continue reading Thick and fast
WHEN the Republican Party decided to hold its national convention in Cleveland back in July 2014 no one dreamed that Donald Trump would be the party’s presidential nominee. Yet the city and the man are oddly suited. It is hard to think of a city that better illustrates Mr Trump’s campaign theme of making… Continue reading Lessons from Cleveland, the Silicon Valley of the second industrial revolution
Finance editor Edward McBride is joined by Simon Rabinovitch, who has delved into the history of coups to find out how attempts to overthrow a government can disrupt economic growth. And, an investigation into why the banking systems of some of Africa’s largest economies are lurching towards crisis <param name="labels" value="http://cdn.static-economist.com/sites/all/modules/custom/ec_brightcove/EcBcLables.xml"…Continue reading from Business and finance… Continue reading A coup de grâce for the Turkish economy?
IN THE aftermath of the latest terror attacks in Europe and America, security concerns are once more at the forefront of travellers’ minds. Unfortunately, the agency tasked with keeping flyers safe in American airports has just received another black mark that calls into further question its ability to perform its job with anything resembling competence.… Continue reading The agency in charge of security at America’s airports is harangued again
J.D. POWER, a market-research company, has released the 2016 results of its annual hotel satisfaction survey for the United States, Canada and Mexico. At first blush, it seems a ringing endorsement of the hotel industry. Contentment among customers is at an all-time high, and has risen for four years in a row. But the report… Continue reading North Americans feel better about hotels than ever. The goodwill is unlikely to last