Word: londonized
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...biggest prize of all, Britain, is said to be warming to the euro. Barroso recently claimed that London is "closer than ever before" to euro-zone entry and that "the people who matter in Britain" think it should join. That may be overstating things a bit, but a report by research group Chatham House warns that as the euro zone grows, the U.K. risks being excluded from "deeper intra-E.U. economic consultation and coordination, including in areas of significant national interest, such as financial market regulation." (See pictures of the financial crisis in London...
...daily rental rate for the largest bulk carriers plunged from $234,000 last summer to less than $3,000 in early December, a staggering 99% reduction. "The violence of the drop is more extreme than anything we've ever seen before," says Jeremy Penn, chief executive of the London-based Baltic Exchange...
Even more worrying for the long-term outlook is the rush to cancel orders for new ships. Clarksons of London, the world's largest shipbroker, announced that new orders had dropped from 378 vessels in October 2007 to just 37 last October. In November, New York?based Genco Shipping and Trading wrote off a $53 million deposit in order to get out of a $530 million deal to buy six new vessels, freeing up liquidity and strengthening the firm's "ability to act opportunistically," a Genco spokesman said. As companies pull back to protect their bottom lines, many are simply...
...just because the current Czech government is led by Euro skeptics doesn't mean they might not have good ideas. "The Czech government could rise to the challenge nonetheless," says Hugo Brady, from the Centre for European Reform, a London-based think tank. "As a small country, it is used to making deals, so it knows about the art of compromise...
Tallyho! Fares to London are on sale. British Airways is taking $250 off any round-trip World Traveller Plus ticket to London, and $100 off any ticket worldwide. Virgin Atlantic has special fares in economy class from now through March 22, 2009, with $221 one-way fares to London from Chicago, and $196 one-way from New York City. (See 10 things to do in London...