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A potential merger between IAG and Norwegian should worry flyers

A potential merger between IAG and Norwegian should worry flyers

WHEN flag carriers such as British Airways (BA) ruled the skies, only the rich could afford to fly across the Atlantic. That was until Freddie Laker, a British entrepreneur, came along. His dream was to open long-haul travel to the masses. In 1977 he launched Skytrain, the first low-cost long-haul flights between London and New […]

April 19, 2018 | By | Reply More
How Heineken beer survives in Congo

How Heineken beer survives in Congo

THE Bralima brewery in Kinshasa, the capital of the Democratic Republic of Congo (DRC), is an island of modernity in a city where chaos is the norm. Inside a building near the docks where barges begin the journey up the Congo river, conveyor belts rattle as thousands of glass bottles are washed and filled with […]

April 19, 2018 | By | Reply More
Amazon is not the only threat to legacy post offices

Amazon is not the only threat to legacy post offices

IT MAY be hard to imagine a world without cheap postal services, but 200 years ago sending mail was a luxury. Posting a letter from London to Edinburgh cost an average daily wage. In 1840, after a proposal by Rowland Hill, an inventor, Britain launched the Penny Post, the world’s first universal mail service. The […]

April 19, 2018 | By | Reply More
Business writer

Business writer

The Economist is looking for a business correspondent to work at its headquarters in London. An ability to write informatively, succinctly and wittily, combined with numeracy and curiosity, matter more than prior experience. Applicants should send a CV and an article which they think would be suitable for publication in the Business section to businessjob@economist.com. […]

April 19, 2018 | By | Reply More
Sir Martin Sorrell leaves WPP in a sorry state

Sir Martin Sorrell leaves WPP in a sorry state

DURING his spectacular rise from London beancounter to the globe-trotting boss of WPP, the advertising powerhouse he created out of a backstreet wire-basket and trolley company, Sir Martin Sorrell was rarely sentimental. The man who helped turn a ramshackle but chic industry into a global force poached accounts mercilessly and often pitted his own firms […]

April 19, 2018 | By | Reply More
ESPN starts a streaming service

ESPN starts a streaming service

THE first week for ESPN+, a sports streaming service that Disney, owner of ESPN, launched in America on April 12th, had none of the razzmatazz associated with a firm known for blockbuster openings. Forget marquee matchups from the National Basketball Association. The games come from lesser-known football (ie, soccer) leagues, minor college sports and international […]

April 19, 2018 | By | Reply More
An American ban puts China’s ZTE in peril

An American ban puts China’s ZTE in peril

TALK of restricting the use of Chinese telecoms equipment in the West is growing. This week the curbs went the other way, when America banned its companies from selling hardware and software for seven years to one of China’s state-owned tech champions, ZTE. On April 16th America’s Department of Commerce said that China’s second-largest telecoms […]

April 19, 2018 | By | Reply More
Indicators that signal financial-market trouble are flashing

Indicators that signal financial-market trouble are flashing

WATCHING financial markets can be like watching a horror film. A character walks into the darkness alone. A floorboard creaks. The latest spooky sign is the spread between the three-month dollar London interbank offered rate (LIBOR) and the overnight index swap (OIS) rate. It usually hovers at around 0.1%, but has recently climbed to 0.6% […]

April 19, 2018 | By | Reply More
Coco bonds have not lived up to their promise

Coco bonds have not lived up to their promise

DURING the financial crisis, Western governments poured hundreds of billions of dollars into their banks to avert collapse. The search for ways to avoid future bail-outs started before the turmoil ended. One of the niftiest proposals was the “contingent convertible” (coco) bond, which turns into equity when the ratio of a bank’s equity to risk-weighted […]

April 19, 2018 | By | Reply More
Hong Kong defends its dollar peg in both directions

Hong Kong defends its dollar peg in both directions

THE Hong Kong dollar is one of the most and least manipulated monies in the world. For over 34 years the territory’s monetary authority, the HKMA, has kept it pegged to America’s currency at around HK$7.80 to the dollar, resisting all temptations to let it fall or rise. In 2005 it refined the peg with […]

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