Business

Midday Dispatch – Corporate and Financial News

The euro dropped to a three-week low against a broadly stronger dollar on Tuesday as investors re-assessed their expectations of how much the Federal Reserve may cut interest rates this…

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Malta – €687,795 raised for Dar tal-Providenza

€687,795 were raised during the 11th edition of the Volleyball Marathon in aid of Id-Dar tal-Providenza that took place between Friday 5th and Sunday 7th July in the parking lot…

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Midday Dispatch – Financial and Corporate News

Deutsche Bank laid off staff from Sydney to London on Monday as it began 18,000 job cuts in a 7.4 billion euro “reinvention” which Germany’s largest lender said would mean…

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£183 million fine for British Airways

The Information Commissioner's Office (ICO), the U.K. data regulator, has fined British Airways 183 million pounds over a breach that compromised information on half a million customers. The airline, owned…

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Deutsche Bank axes whole teams in Asia-Pacific

Whole teams in Deutsche Bank’s Asian operations were told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to…

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African leaders launch landmark 55-nation trade zone

After four years of negotiations, African countries agreed to a free-trade deal that will unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new…

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Deutsche Bank announces it is axing 18,000 jobs

Deutsche Bank announced Sunday it would cut 18,000 jobs – around one in five of its workforce – by 2022, as part of its new round of restructuring. The bank,…

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SlideShow – Giving it all for charity

The annual fundraising volleyball marathon in aid of Id-Dar Tal-Providenza enters its last day. Id-Dar tal-Providenza was founded by Mgr. Michael Azzopardi in 1965 with the aim of offering individualised…

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Turkish central bank chief fired

Turkish President Recep Tayyip Erdogan has fired the governor of the central bank and replaced him with his deputy. No official reason was given for the sacking of Murat Cetinkaya,…

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Deutsche Bank braced large layoffs

The Financial Times reports that Deutsche Bank staff are bracing themselves for one of the most severe job culls in banking since Lehman Brothers collapsed a decade ago Indications…

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Enabling AI in the pharmaceutical sector

Artificial Intelligence (AI) is a very topical subject although the art of using computers to mimic human cognition has been with us for a number of years. Earlier CI…

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Malta: Annual Fundraising Event in Aid of Id-Dar Tal-Providenza launched

Players, volunteers and dignitaries will be united in the annual fund raising event in aid of Dar Tal-Providenza in Siggiewi. During the forthcoming 53 hours, the annual BOV Marigold Volleyball…

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Go enhances experience with new free upgrade for its TV customers

GO has kicked off the first phase of an important TV migration exercise which will see thousands of TV customers wake up to a totally enhanced TV user experience. This…

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Corporate and Financial News Midday Dispatch

In May 2019, in Malta the seasonally adjusted index of industrial production increased by 1.3 per cent. Increases were registered in the production of energy (4.5 per cent), consumer goods…

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Virgin Atlantic flight makes emergency landing in Boston

A Virgin Atlantic flight has made an emergency landing in Boston after a fire broke out on board. The plane was travelling from New York to London on Thursday night…

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First drop in five years in tourist arrivals in Greece

Tourist arrivals this summer in Greece are slightly slower than last year, according to surveys, air arrival data and hoteliers. The drop observed in May appears to have continued into…

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Paris wants to ban tourist buses from city centre

Authorities in the French capital Paris are seriously considering banning tourist buses from the city centre after complaints about nuisances caused by mass tourism Paris authorities said this will also…

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Deutsche Telekom launches Germany’s first 5G network

Deutsche Telekom, Germany's largest telecom company has launched the country's first 5G network, but for now it only works in two cities - Bonn and Berlin - and only…

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George Osborne’s ambitions to run IMF

George Osborne is considering putting his name forward to replace Christine Lagarde as the head of the International Monetary Fund, according to reports, a move that would see him become…

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4,500 jobs at risk at William Hill

Gambling firm William Hill has confirmed plans to shut 700 betting shops, placing 4,500 jobs at risk. The bookmaker had threatened such a move before a crackdown to cut stakes…

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Midday Dispatch – Financial and Corporate News

George Osborne would like to fill the vacancy as head of the IMF, telling friends that he is perhaps best placed to win support from Europe, the US and China.…

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An Exhibition Exploring Aviation Over The Next 100 Years At London’s Saatchi Gallery

To celebrate its centenary British Airways is launching BA 2119: Flight of the Future, a first-of-its-kind exhibition looking ahead to the next 100 years of flying and imagining what…

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Midday Dispatch – Financial and Corporate News

European leaders have agreed a deal to fill the EU’s most important jobs, backing Christine Lagarde to lead the European Central Bank and Ursula von der Leyen to be president…

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Accountants donate €8,000 to Beating Hearts Malta

The Malta Institute of Accountants raised €8,000 for Beating Hearts Malta at a social event for MIA members in June. The Institute drove a successful donations campaign in the month…

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Entry fee for Venice postponed

The planned new tourist entry fee for Venice has been put off from September 1st to January 1st next year. The delay came following months of discussions between city hall…

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Cuba considering introduction of cryptocurrency

Cuba’s Communist government announced that it was studying the potential use of cryptocurrency as part of a series of measures to boost its economy amid a deepening crisis exacerbated by…

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Eva Air cancels hundreds more flights

The ongoing saga of Taiwanese airline Eva Airways continues as the airline cancelled 550 more flights scheduled through mid-July as a cabin crew strike entered its 14th day. The decision…

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Wales gives all NHS staff access to Microsoft 365 as part of huge tech shake-up

Every public sector health worker in Wales will be given access to Microsoft programs such as Outlook and Teams as part of a country-wide focus on digital transformation. More than…

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Heat stress spike predicted to cost global economy $2,400 billion a year

An increase in heat stress at work linked to climate change is set to have a massive impact on global productivity and economic losses, notably in agriculture and construction, UN…

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American auto industry icon Lee Iacocca dies aged 94

Lee Iacocca, the charismatic U.S. auto industry executive who gave America the Ford Mustang and was celebrated for saving Chrysler from going out of business, has died at the age…

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OPEC and Russia-led allies to extend deal to cut oil output by nine months

OPEC agreed on Monday to extend oil supply cuts until March 2020, three OPEC sources said, as the group’s members overcame their differences in order to prop up the price…

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Samsung and SK Telecom advance in bringing Korea closer to 5G standalone commercialization

Samsung Electronics and SK Telecom (NYSE: SKM) today announced the successful completion of Korea’s first interoperability assessment between 5G Standalone (SA) Core and other commercial network systems over a 5G…

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Swiss stock exchange loses EU access

The Swiss Market Index rose 1pc in early trading on the first day since EU-based traders lost the right to trade equities in the country as a result of a diplomatic…

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Midday Dispatch – Corporate and Financial News

Jeremy Hunt is planning to ramp up preparations for a no-deal Brexit which will include a £6bn war chest for farmers and fishermen exporting to Europe. The Tory leadership candidate has…

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More benefits for Tallinja Card holders: 20% discount on Ioscoot

Tallinja Card holders can now enjoy a 20% discount on Ioscoot journeys, benefitting from a special service rate of only 20 cents per minute. An agreement between Malta Public…

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Australian bank bans credit card use for gambling

An Australian financial institution, Macquarie, has announced that it will no longer allow its bank-issued credit cards to be used for making gambling or lottery purchases. The company insists that…

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Ten persons killed in plane crash in Texas

A light aircraft has crashed into an airport hangar in Texas killing all 10 people on board. The plane, a twin-engine Beechcraft BE-350 King Air, crashed shortly after take-off at…

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Air Malta pilots union gives notice of industrial actions – Updated

Air Malta pilots have given notice that with effect from midnight, they can resort to industrial actions. It is understood that the Pilots’ Union ALPA will start its actions from…

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Satabank clients still awaiting funds – The Malta Independent on Sunday

Clients of Satabank are still awaiting funds approximately eight months down the line since its accounts were frozen by the Malta Financial Services Authority (MFSA), the Malta Independent on Sunday…

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Threat of industrial action by pilots in Air Malta – MaltaToday

MaltaToday reports that the Airline Pilots Association has voted in favour of industrial action, threatening a full-blown strike to leave Air Malta planes grounded, unless the government accedes to their demands.According…

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Serious concerns raised about BOV operational and managerial processes – The Sunday Times

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Amsterdam having second thoughts about various festivals in the city

Amsterdam city council is taking a critical look at the effect of festivals on the city and plans to set up a special commission to vet which events can…

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The roots of Italy’s dysfunctional economy

Earlier this month, Italy’s national statistics agency estimated that 1.8m households were living in “absolute poverty”. These families accounted for about 5m people, or 8.4 per cent of the population.…

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Bank of Valletta’s ATMs and POS terminal systems back online UPDATED

Update 1805h : Bank of Valletta announced that the technical issues that were being encountered earlier in the day have been rectified and the cards systems are now up and…

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EU warns US not to stop Qatari owned Air Italy from flying in and out of the USA

The Financial Times reports how Air Italy, a relatively small Italian airline has become the latest source of tension in the increasingly frayed relationship between the EU and the Trump administration, after officials…

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China and US agree to resume trade talks

Chinese President Xi Jinping and US President Donald Trump on Saturday agreed to resume trade talks, following a high-stakes meeting on the sidelines of the G20 summit in the western Japanese…

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Deutsche Bank considering cutting 15,000 jobs

Deutsche Bank is considering cutting 15,000 to 20,000 jobs, or more than one in six full-time positions globally, the Wall Street Journal reported on Friday, citing people familiar with the…

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Italy fines Facebook €1 million over Cambridge Analytica case

Italy's privacy regulator said Friday that it was fining Facebook one million euros for offenses related to the Cambridge Analytica case. The disgraced and now-defunct British company harvested the personal…

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Microsoft ramps up prepartions for the opening of the flagship Microsoft Store in London

Two people will get the chance to play some of the latest Xbox games with England footballer Raheem Sterling and Star Wars’ John Boyega in the flagship Microsoft Store in…

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Apple’s stock takes an $8 billion hit after the news that design chief Jony Ive will be leaving the company

Apple's valuation took a notable dip in after-hours trading after design chief Jony Ive announced he would be leaving the company. Upon news of Ives departure, Apple's stock dropped…

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Lego consortium buys Merlin Entertainments theme parks

A consortium led by the family that controls the Lego toymaking empire has agreed a £5.9bn takeover of Merlin Entertainments, the theme park operator which runs the Legoland attraction. Merlin,…

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Midday Dispatch – Corporate and Financial News

Good afternoon Our daily round up of financial and corporate news. The seasonally adjusted unemployment rate for May 2019 was 3.5 per cent, unchanged from the previous month and down…

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U.K. seeks to boost tourism industry

British Prime Minister Theresa May has announced the first tourism sector deal will prepare Britain for an extra 9 million visitors per year, with commitment to build 130,000 new…

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France’s debt increases even more

The French national statistics bureau warned that the countries debt has slipped further into the red. The rise in the public sector debt was mostly due to central government spending,…

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Apple chief designer Jony Ive to leave the company

The man whose designs of the iPhone, iMac and iPad helped Apple become a leading technology giant is leaving the company later this year. Apple's Chief Design Officer Jony Ive…

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IATA coordinated effort to safely return Boeing 737 Max to service

The International Air Transport Association (IATA) urged state aviation safety regulators to continue to align on technical validation requirements and timelines for the safe re-entry into service of the…

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Britain’s economy is around 1.3% larger than previously thought

Britain’s economy is around 1.3% larger than previously thought – an increase of £26 billion. Statisticians announced this after a major revision of growth data from the past 20 years.…

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