One Euro for One Pound Britons Abroad Already Know What Pound-Euro Parity Feels Like When U.K. businessman Paul Frampton bought the spending money for his family vacation to Tuscany this month, he was astonished to be charged almost a pound for each euro he purchased. “I was flabbergasted,” said the 41-year-old media-company boss, who paid 97

De Beers stakes its reputation on spotting the difference In nature it takes billions of years to produce a diamond, or a laboratory can grow one in days and to the untrained eye, it looks the same. For De Beers, telling the difference is fundamental to protecting its reputation as the world’s leading diamond firm

UK Manufacturers See Costs Jump in Wake of Brexit Vote The pound’s sharp drop following Britain’s vote to leave the European Union is starting to weigh on companies, particularly manufacturers, by increasing the cost of the imported raw materials and goods they require to do business. Official figures released Tuesday showed that producer prices jumped

The Titanic risks of the global retirement system Imagine an entire enterprise set on course for disaster, driven by the owner’s arrogant pursuit of profit. The members of the management team, from the CEO on down, know better but fail to resist or are ignored. The clients remain totally unaware of the risks until far

Canada to invest in Tata Steel’s iron ore biz in Quebec The Canadian government is investing C$125 million (Rs 680 crore) in Tata Steel’s iron ore project in the Quebec region and is also supporting a loan of C$50 million (Rs 272 crore) from one of its financing arms. The equity-cum-loan assistance is aimed at

Brexit Wreaks Havoc on U.K. Economy as Recession Risk Increases The U.K.’s decision to leave the European Union inflicted an immediate blow on the economy as business activity shrank at its fastest pace since the last recession seven years ago. In the weeks following Brexit, there was a “dramatic deterioration,” Markit Economics said in a

Why the Cost of Living Is Poised to Plummet in the Next 20 Years People are concerned about how AI and robotics are taking jobs, destroying livelihoods, reducing our earning capacity, and subsequently destroying the economy. In anticipation, countries like Canada, India and Finland are running experiments to pilot the idea of “universal basic income”

Brexit Won’t Stop Globalization that irresistible force that was inevitably, inexorably making the world flat—looks to be in retreat. Trade growth has never recovered to the levels reached before the 2008 financial crisis. Donald Trump is fueling his presidential campaign on fear of free trade and immigration. The economic problems of the U.S., he blasted

Britain to hire foreign trade negotiators after Brexit, says Hammond Britain will look to hire foreign trade negotiators to help it meet the challenge of striking new trade deals with countries in Europe and beyond after last month’s shock decision to leave the European Union, Foreign Secretary Philip Hammond said. “I don’t think we can

Hunting for Diamonds Under Canada’s Frozen Tundra On the semi-frozen surface of Faraday Lake in Canada’s subarctic, two diamond rigs are drilling around the clock. It’s spring breakup north of the 63rd parallel, which means the Kennady Diamonds Inc. exploration team is running out of time. “It’s starting to candle,” says geologist Martina Bezzola, scuffing