Business


Brexit vote means £122bn extra debt: Hammond

Hammond said the projected growth slowdown was due to "lower investment and weaker consumer demand, driven ... by greater uncertainty and by higher inflation resulting from sterling depreciation". Mr Hammond also told MPs that the OBR had forecast growth would be 2.4 percentage points lower because of Brexit. On the chances of Mr Hammond wiping out the deficit by 2012, Mr Chote said: "That will be quite a challenge, especially if he needs or decides to borrow more during this Parliament".


Court Enjoins Labor Department From Enforcing New Overtime Rule

Court Enjoins Labor Department From Enforcing New Overtime Rule

Employers have been scrambling to make changes so they comply with the new overtime rules, with some already notifying some workers that their salaries will be bumped up to or above the new $47,500 threshold to make them exempt from overtime.



Strike Threatens US Holiday Travel

O'Hare International Airport workers who voted to strike soon will announce when they plan to take action. The baggage handlers are not unionized but are getting help from Service Employees International Union Local 1. O'Hare was the third busiest airport in the U.S.in 2015 with 36.3 million passenger boardings, just 50,000 less than second-place Los Angeles International Airport, according to the Federal Aviation Administration.



West Bank settlement evacuated in 5th day of Israeli fires

According to Levy, firefighters dealt with about 2,000 fires in Israel and the West Bank, 20 of them major. While some of the fires were man-made, the weather conditions in Israel have made conditions worse; the combination of high winds and dry air has caused the wildfires to spread, Israeli officials confirmed.


Sanders calls for assessment of Electoral College

Sanders calls for assessment of Electoral College

The allegation, made without evidence, comes as Democratic rival Hillary Clinton's lead in the popular vote over Trump has surpassed 2 million votes and is expected to grow to more than 2.5 million as ballots in populous states such as California continue to be tallied.



Algeria offers 1.1m bpd OPEC cut: Iran

Failure to get an accord could send oil prices tumbling and reignite debate about the goal of the 56-year-old Organization of the Petroleum Exporting Countries. In a sign of ongoing tensions, Saudi Arabia pulled out of talks due Monday with non-OPEC producers including Russian Federation ahead of the Vienna meeting, Bloomberg News reported.