Airbus executives get swept away by a corruption investigation

Airbus executives get swept away by a corruption investigation

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Airbus executives get swept away by a corruption investigation
  “THE success of Airbus is intimately linked to the success of John,” says Eric Schulz, successor to John Leahy, who has been chief salesman for the planemaker since 1994. Mr Leahy’s aggressive strategy to gain orders expanded Airbus’s market share for civil jets from 18% in 1994 to over 50%. Salesmen at Boeing, Airbus’s […]
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Dear oil helps some emerging economies and harms others

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Dear oil helps some emerging economies and harms others
When they are not fretting about the American dollar or Chinese debt, policymakers in emerging economies keep a close eye on the oil market. The price of Brent crude has risen by nearly 50% in the past year to around $80 a barrel. It ranks as the 11th-biggest spike in the past 70 years (adjusted […]
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Tailor shops are a thriving pocket of enterprise in Pyongyang

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Tailor shops are a thriving pocket of enterprise in Pyongyang
No ordinary fashion statement WALK down the streets of Pyongyang, North Korea’s capital, and at first sight the passers-by look rather uniform. The women are in tidy skirt suits and medium-high heels. The men sport variations on the theme of the jacket and wide trousers preferred by Kim Jong Un, the country’s leader. Government-mandated lapel […]
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The sexual harassment of flight attendants is a massive problem

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The sexual harassment of flight attendants is a massive problem
OVER the past year, there have been myriad stories in the press about airlines mistreating passengers. Last April David Dao, a passenger on a domestic United Airlines flight from Chicago to Louisville, was violently dragged off the plane to accommodate crew for another flight. This month United hit the headlines again when a Nigerian passenger […]
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The life-insurance industry is in need of new vigour

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The life-insurance industry is in need of new vigour
LIFE insurance is among the oldest financial products. The Amicable Society, founded in London in 1706, charged members a set contribution and paid out annually to widows and children of those who had died in the previous 12 months. Today it is a vast industry: life and health insurers employ over 800,000 people in America […]
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Boeing’s antics at the World Trade Organisation risk a trade war

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Boeing’s antics at the World Trade Organisation risk a trade war
GULLIVER’S regular readers might be interested in an article in this week’s print edition about Boeing’s partial victory in a case at the World Trade Organisation, brought in retaliation for subsidies that the European Union is alleged to have given Airbus, its European planemaking rival.  On May 15th the WTO’s final appeals body upheld parts […]
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McKinsey manages to get itself sued for racketeering

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McKinsey manages to get itself sued for racketeering
MOBSTERS, gangsters and bent cops have all been tried under America’s Racketeer Influenced and Corrupt Organisations (RICO) Act. Might consultants be next? McKinsey, a management consultancy, is being sued under the law by Jay Alix, the founder of AlixPartners, a competitor in the field of bankruptcy advice. Mr Alix alleges that McKinsey knowingly misled courts […]
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Toyota takes a winding road to autonomous vehicles

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Toyota takes a winding road to autonomous vehicles
Intrepid data gatherers UBER’s fleet of autonomous vehicles has been parked up since one of its self-driving cars struck and killed a woman in Tempe, Arizona in March. That death highlighted once again the industry’s rush to develop self-driving cars. Waymo, a sister company of Google, plans to launch a robotaxi service in Arizona this […]
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Another allegation of passenger mistreatment on a United Airlines flight

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Another allegation of passenger mistreatment on a United Airlines flight
ON MAY 11TH a Nigerian woman filed a lawsuit against United Airlines for removing her and her two children from a flight after a fellow passenger complained of her smell. Queen Obioma accuses the airline of singling her out “because of her black race and Nigerian citizenship”. The incident took place two years ago on […]
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American shale-oil producers are on a roll

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American shale-oil producers are on a roll
JUST over a year ago Harold Hamm, billionaire boss of Continental Resources, one of the biggest shale-oil producers in America, issued a stern warning to his fellow frackers. Drill with restraint or we will “kill the market”, he said. This month the 72-year-old Mr Hamm, son of an Oklahoma cotton sharecropper who went on to […]
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Airlines in America fail in their campaign against the Gulf carriers

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Airlines in America fail in their campaign against the Gulf carriers
ON MAY 14th, the United States and United Arab Emirates (UAE) announced a deal that should, at least in theory, put an end to their long-simmering dispute over what airlines in America allege are unfair subsidies provided by the Gulf state to its two major airlines. When news of the agreement emerged on three days […]
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The latest video-game fad shows off a DIY ethic

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The latest video-game fad shows off a DIY ethic
TWENTY years ago schoolyard fads revolved around clothes and music. Now they are as likely to involve video games. The latest must-have is “Fortnite Battle Royale”, a lighthearted multiplayer shooter in which up to 100 players parachute onto a continually shrinking playing field, hunt each other down and compete to be the last one standing. […]
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So long, farewell

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So long, farewell
IT IS an enormous privilege, and responsibility, to write for The Economist and capture a small sliver of readers’ attention. All told, there have been well over a thousand posts on this blog (the site history runs for 98 pages) as well as 546 print columns (the last will appear at the end of the […]
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T-Mobile and Sprint chivvy regulators to bless their merger

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T-Mobile and Sprint chivvy regulators to bless their merger
JOHN LEGERE, the lion-maned boss of T-Mobile, made his wireless firm the fastest-growing carrier in America by cutting prices and giving customers better deals than AT&T and Verizon, which he relentlessly mocked on Twitter as retrograde behemoths. His personal brand as an industry maverick may have helped too. On April 29th he put that image […]
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A huge interest rate hike has arrested a run on the Argentine peso

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A huge interest rate hike has arrested a run on the Argentine peso
THE message to markets could not have been clearer. On the morning of May 4th, following a run on the peso, Argentina’s central bank raised interest rates by 6.75 percentage points, its third hike in a week. The interest rate now stands at 40%, up from 27.25% on April 27th. Across town Nicolás Dujovne, the […]
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Zap! American officials can destroy foreign firms like gremlins on a screen

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Zap! American officials can destroy foreign firms like gremlins on a screen
WARFARE has been transformed by drones. Using pilotless aircraft armed with precision weapons America can kill its enemies—in, say, the Hindu Kush or Syria—with a click of a mouse. There is a similar shift in economic diplomacy, where Uncle Sam has perfected new weapons that exploit its power over the world’s financial plumbing and over […]
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The great foreign exchange rip-off is coming to an end

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The great foreign exchange rip-off is coming to an end
SOME years ago, when Gulliver was a wide-eyed reporter on his first business trip, he sidled up to a bureau de change in London’s Heathrow Airport to buy some foreign currency. His nervous excitement quickly turned to dismay when the teller gouged 12% from the transaction, justifying the theft by tapping on a display-screen of […]
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Where will the next crisis occur?

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Where will the next crisis occur?
INTEREST rates are heading higher and that is likely to put financial markets under strain. Investors and regulators would both dearly love to know where the next crisis will come from. What is the most likely culprit? Financial crises tend to involve one or more of these three ingredients: excessive borrowing, concentrated bets, and a […]
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The euro area’s economy loses momentum

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The euro area’s economy loses momentum
ECONOMISTS have spent the past decade wringing their hands over the health of the euro area’s economy. Last year, in a welcome respite, it expanded by a robust 2.3%, outstripping forecasts and matching America’s growth rate. But it has appeared less rosy-cheeked since. Symptoms include moderation in a number of monthly indicators. Industrial production fell […]
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Antitrust with Chinese characteristics

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Antitrust with Chinese characteristics
GLOBAL deals may be growing at a rapid clip, but they seldom offer instant gratification. Qualcomm, an American chipmaker, first bid for NXP Semiconductors, a Dutch company, in October 2016. The union has since been blessed by eight regulators worldwide, but one hurdle remains: China. With no decision yet from its regulator, the companies, which […]
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Fearing Brexit, Irish cheesemakers mull a switch to mozzarella

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Fearing Brexit, Irish cheesemakers mull a switch to mozzarella
THE herd of water buffalo ambling over rolling hills may look like a scene from southern Italy. In fact the beasts roam in southern Ireland. Johnny Lynch, who owns a 150-acre farm in County Cork, makes plump balls of mozzarella from their milk, and bids customers a cheerful, Irish-accented “Buongiorno!” in online advertisements for his […]
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One of France’s best-known tycoons is arrested

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One of France’s best-known tycoons is arrested
“THIS port is for the Togolese,” says Sherif Tchedre, a mechanic standing among containers that line the shorefront in Lomé, Togo’s capital. “But it is Bolloré who runs everything.” He thinks little of the port’s French operator, Bolloré Group, or the conglomerate’s eponymous owner-boss, Vincent Bolloré. They do “nothing for Togo”, he says, adding that […]
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China’s holy sites list on the stockmarket

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China’s holy sites list on the stockmarket
BENEATH a lustrous 33-metre bronze statue of Guanyin, the Buddhist bodhisattva of mercy, a young monk on Mount Putuo tallies the cash donated by visiting faithful: “Daily, anywhere between tens of thousands and hundreds of thousands of yuan,” he says (100,000 yuan is a little under $16,000). Over 8m trips are made yearly to the […]
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The best books on finance and economics

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The best books on finance and economics
THE late Hans Rosling is best known for his Ted talks (here is one on the wonders of the washing machine). Sadly he died last year. But before he did so, he worked with his son and daughter-in-law to write “Factfulness: Ten Reasons Why We’re Wrong About the World—And Why Things Are Better Than You […]
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How Heineken beer survives in Congo

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How Heineken beer survives in Congo
THE Bralima brewery in Kinshasa, the capital of the Democratic Republic of Congo (DRC), is an island of modernity in a city where chaos is the norm. Inside a building near the docks where barges begin the journey up the Congo river, conveyor belts rattle as thousands of glass bottles are washed and filled with […]
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Sir Martin Sorrell leaves WPP in a sorry state

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Sir Martin Sorrell leaves WPP in a sorry state
DURING his spectacular rise from London beancounter to the globe-trotting boss of WPP, the advertising powerhouse he created out of a backstreet wire-basket and trolley company, Sir Martin Sorrell was rarely sentimental. The man who helped turn a ramshackle but chic industry into a global force poached accounts mercilessly and often pitted his own firms […]
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An American ban puts China’s ZTE in peril

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An American ban puts China’s ZTE in peril
TALK of restricting the use of Chinese telecoms equipment in the West is growing. This week the curbs went the other way, when America banned its companies from selling hardware and software for seven years to one of China’s state-owned tech champions, ZTE. On April 16th America’s Department of Commerce said that China’s second-largest telecoms […]
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