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U.S.’ Lew says UK authorities need time to probe pound crash

U.S. Treasury Secretary Jack Lew said on Friday it was necessary to give British authorities some time to determine what drove a steep drop in the pound before jumping to conclusions. “Based on our own experience, it takes some time to find out why such movements occur,” Lew told a news conference at the International Monetary Fund and World Bank Meetings in Washington. The pound's fall by more than 10 percent against the dollar to below $1.15 was …

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U.S.’ Lew says UK authorities need time to probe pound crash

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Delta posts smaller-than-expected fall in passenger unit revenue

Delta's shares were up 3.5 percent at $40.38 in early trading on Tuesday. The company, the second-largest U.S. airline by passenger traffic, reported a 3 percent decline in consolidated passenger unit revenue. Delta said the fall in September was due to a supply-demand imbalance on transatlantic routes and headwinds from prior-year yen hedge gains.

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Delta posts smaller-than-expected fall in passenger unit revenue

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U.S. senators quiz airlines on IT systems after Delta disruption

Two U.S. senators on Tuesday sent letters to 13 major airlines expressing concerns that their information technology systems are vulnerable to outages that can strand thousands of passengers similar to recent flight cancellations. Senators Richard Blumenthal and Edward Markey sent letters after Southwest Airlines Co and Delta Air Lines Inc experienced technology issues that resulted in thousands of flight cancellations across the country.

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U.S. senators quiz airlines on IT systems after Delta disruption

mexico-city

Tycoons, telecoms and Trotsky: book lifts veil on Carlos Slim

Carlos Slim's brother interrogated leftist rebels for Mexico's intelligence agency while his eldest son often hands out a biographical novel about Leon Trotsky as a gift, according to a new book on the tycoon who was long the world's richest man. The biography, by far the most comprehensive written on Slim, seeks to show how the Mexico City businessman navigated local politics to become the world's richest man in a country where almost half …

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Tycoons, telecoms and Trotsky: book lifts veil on Carlos Slim