Europe

Gabon leader in inheritance pledge

President Ali Bongo is expected to inherit vast sums when his father’s will is carried out Gabon’s President Ali Bongo has pledged to give away all the money he inherits from his father, to set…


Essar places big bet on US iron ore

©Dreamstime Mesabi iron range On an abandoned iron ore deposit just outside of Hibbing, Minnesota — the boyhood home of Bob Dylan — India’s Essar Steel is ramping up construction on a $1.9bn mining and…


UK inflation rate rises to 0.1%

The UK’s inflation rate turned positive in July, with the Consumer Prices Index measure rising to 0.1% from June’s 0%. A smaller fall in the price of clothing was the main reason for the rise,…


Norway jails whisky-drinking co-pilot

The airline airBaltic says it is introducing new safety measures including increasing breathalyser tests for all “safety-critical personnel” A Latvian co-pilot who admitted drinking whisky and beer hours before an airBaltic flight from Norway to…


China stocks tumble 6% as rally falters

©AFP Chinese stocks plunged on Tuesday as investors rushed to cash out following a wobbly recovery in recent weeks. The Shanghai Composite index lost 6.1 per cent, while the Shenzhen Composite shed 6.6 per cent….


Dutch coalition faces Greek bailout vote

©Dreamstime The Dutch government is facing a vote of no-confidence over the €86bn Greek bailout approved by eurozone finance ministers last week, with support for the deal from the prime minister’s own party still in…


Turkish PM abandons coalition bid

MHP leader Devlet Bahceli (L) said his party’s conditions had not been met during talks with PM Ahmet Davutoglu’s (R) AKP Turkey’s prime minister says he has exhausted all options to form a coalition government…


US shale industry faces leaks crackdown

©AP A worker hangs on an oil derrick in the Bakken shale area of North Dakota in the US The US shale industry will face a crackdown on greenhouse gas leaks under regulations being prepared…


Thai security forces hunt bomb suspects

©Reuters Experts on Tuesday investigate the Erawan shrine, site of the deadly blast Thai authorities have launched a manhunt for suspects allegedly caught on camera just before a bomb blast in Bangkok that killed 22…


Overvalued equities can keep rising

©Bloomberg Equity valuations in the US and Europe are back to levels last seen during the emergence of the dotcom bubble and ahead of the 2008-09 financial crisis. Surely this cannot continue? A new take…