LONDON – Antony Jenkins, the chief executive of Barclays, has been fired after falling out with the board over the bank’s cost cutting and profitability. Board members are believed to have wanted bigger cost cuts and more focus on the investment bank’s performance. Chairman John McFarlane said the bank needed to become more efficient: “What…
ATHENS – Greece’s outspoken finance minister has resigned, hours after voters backed his call to reject creditors’ demands for more austerity in a referendum. Yanis Varoufakis said it was felt his departure would be helpful in finding a solution to the country’s debt crisis. Eurozone finance ministers, with whom he repeatedly clashed, had wanted him…
JAKARTA – At least 37 people have been killed in a military transport plane crash in a residential area of the Indonesian city of Medan, officials say. The Hercules C-130 plane crashed into two houses and a car and burst into flames creating a huge fireball. Military spokesman Fuad Basya told the BBC that the…
ATHENS – The Greek government is in last-minute talks over whether to accept an offer that would let Greece repay part of its debt, local media say. Greece is hours away from a deadline to repay a €1.6bn (£1.1bn) loan to the International Monetary Fund (IMF) – one it may miss. One of Greece’s creditors,…
ATHENS – Eurozone leaders have broadly welcomed new proposals for Greek reforms amid hopes a deal can be struck within days to stop Greece defaulting on its debt. German Chancellor Angela Merkel said Greece’s latest offer constituted “some progress”. But she said more work was needed and “time is short”. Greece must repay a €1.6bn…
SEOUL – Another patient has died in South Korea amid an outbreak of the Middle East Respiratory Syndrome (Mers), bringing total fatalities to 16. Officials also reported five new cases in South Korea, which has the largest outbreak outside the Middle East. Officials say 150 people have now contracted the virus in South Korea. Meanwhile…
ISTANBUL – Turkey’s AK party faces a challenge to form a government after losing its majority at a general election for the first time in 13 years. It secured 41%, a sharp drop from 2011, when it won nearly half of the vote. Under Turkey’s proportional representation system, this means the AKP will need to…
NEW YORK – Fifa president Sepp Blatter is being investigated by US officials as part of their inquiry into corruption at the world football body, US media say. The news came hours after Mr Blatter, 79, announced that he was stepping down from his role. US prosecutors launched a criminal inquiry last week, with seven…
BEIJING – Public smoking in China’s capital, Beijing, is now banned after the introduction of a new law. China has over 300 million smokers and more than a million Chinese die from smoking-related illnesses every year. Smoking bans already existed in China, but have largely failed to crack down on the habit. These tougher regulations,…
PEREPALLY – Mallayia Baddula sits barefoot beneath the shelter of his hut in Perepally, a small village outside Hyderabad. He’s 76-years old and mourning the death of his son Venkatesham, who at half his age succumbed to the heat during the recent hot, dry spell. “He had gone to get some medicine for me,” Baddula…
