Category: Uncategorized
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Landmark railway deal a boost for Kyrgyzstan
Can a new railway initiative help Kyrgyzstan reclaim its historic place on the great silk road? Construction of the China-Kyrgyzstan-Uzbekistan freight route, under discussion for decades, finally appears to have found the necessary political backing across all three countries. Under current proposals, which will be put through a feasibility study before construction can begin next…
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Virgin Galactic stock returning to Earth after rocketing 40%
Last week the Federal Aviation Authority granted Richard Branson’s space tourist venture, Virgin Galactic, the license it requires to launch tourists into space. Shares in the company rocketed by 40% on Friday as a result of the announcement. Virgin Galactic’s successful test flight on May 22nd of this year concluded one of their final test…
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Airlines call for US-UK travel corridor
Bosses of major airlines demand that the US and UK allow travel between the countries Just ahead of the G7 meeting in Cornwall, the bosses of all airlines that offer transatlantic flights have urged the UK and US governments to establish a travel corridor between the countries. In a statement, the group said that the…
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French telecoms giant Altice buys 12% of BT
French Telecom Group Acquires Stake in British Telecom The second-largest telecoms group in France, Altice, has purchased a large stake in British Telecommunication giant BT. Altice, the French group headed by telecoms tycoon Patrick Drahi, announced the deal in a recent statement. The size of the stake that Altice has purchased is large enough that…
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Ford increases EV spending to $30 billion
Ford shares rose 1.7% in pre-market trading after the company announced it was increasing spending on its Electric Vehicle program to $30 billion. This is a rise of $8 billion over its previous commitment of $22 billion. The announcement was made during an investor day held this week. The company said it was planning to…
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Money grows on trees – U.S. lumber prices “out of control”
In the past week, U.S. lumber prices rocketed to a record high of $1,188 per thousand board feet of lumber. Taking this latest price hike into account means that lumber prices have risen by 232% since the start of the pandemic. This is not good news for the construction trade or home DIYers. The bad…
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New Zealand to launch climate change legislation for financial firms
In a move that is likely to be widely followed by other countries, New Zealand is bringing in a law forcing financial firms to report on the ecological impact of their investments. All companies that fall under the bill will be required to make disclosures on climate risks and those that are unable to disclose…
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Toshiba in possible $20 billion buyout
CVC Capital Partners, a British private equity fund, is remaining tight-lipped on its offer to buy out Toshiba. Despite this, Toshiba’s shares rose 18% on Wednesday to close at $41.26. This is its highest level since December 2016, after trading on the shares was temporarily halted in light of the news. This gives the company…
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Life after Amazon: What will Jeff Bezos do now?
25-years after founding Amazon in a Seattle garage, Jeff Bezos has announced that he is stepping down as Chief Executive of the company he founded, passing the reins to Andy Jassy. Whilst he intends to remain as Executive Chairman and no one expects his stranglehold on the company to do anything other than ease slightly,…