CARACAS  – Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA. The career military officer, who for the past year has been boss at the troubled state-owned oil company, […]

WASHINGTON  – President Donald Trump on Tuesday reiterated that the U.S. Federal Reserve was raising interest rates too quickly but added that U.S. companies were “the greatest in the world” and presented a “tremendous” buying opportunity for investors. “They’re raising interest rates too fast because they think the economy is so good. But I think […]

President Donald Trump has lashed out at the US central bank for stock market turmoil, saying the American economy’s only problem is the Fed itself. In a tweet, Mr Trump said the Federal Reserve lacks understanding of markets and “necessary trade wars”. The salvo came as Mr Trump’s treasury secretary scrambles to calm nervous investors. […]

The so-called “Super Saturday” before Christmas saw an incremental boost in shoppers, according to latest data from retail experts Springboard. High Street footfall rose by 1% on last year, and was up 6.9% on the previous Saturday, figures show. However, overall footfall still declined by 0.7% on last year. “It was a bit of a […]

Former Nissan chairman Carlos Ghosn has been re-arrested on fresh charges, Japanese media report, dashing any hopes he could be released on bail. Mr Ghosn has spent the last month in prison, accused of misusing funds and hiding more than $40m (£31m) of income. But on Thursday a court rejected a request by the prosecution […]

WASHINGTON  – U.S. President Donald Trump on Thursday told Republican congressional leaders he will not sign a government funding bill because it fails to include enough funding for border security, raising the odds that parts of the federal government could shut down on Saturday morning. Trump announced his decision during a closed-door meeting at the […]

Washington DC’s top prosecutor is suing Facebook in the first significant US move to punish the firm for its role in the Cambridge Analytica scandal. District of Columbia Attorney General Karl Racine filed the lawsuit on Wednesday, said the Washington Post. It accused Facebook of allowing the wholesale scraping of personal data on tens of millions of users. The […]

BERLIN/FRANKFURT/MUNICH – Volkswagen (VOWG_p.DE) may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said on Tuesday. The remarks came after the European Union agreed on Monday to cut CO2 emissions from cars by 37.5 percent […]

Leading charter and fractional aircraft ownership companies are making corporate jet travel more efficient, largely through an aggressive fleet-renewal and expansion program. These new-generation business jets burn less fuel, have fewer emissions, require less frequent maintenance, and feature more advanced avionics than the legacy aircraft they are replacing. Industry leader NetJets, with a fleet of […]

Malaysia has filed criminal charges against Goldman Sachs and two former employees in connection with a corruption and money laundering probe at the country’s investment fund, 1MDB. The US bank has been under scrutiny for its role in helping to raise funds for the 1Malaysia Development Bhd (1MDB). It is being investigated in at least […]