The US House of Representatives passed a bill that would allow mobile subscribers to “unlock” their phones from being tethered to a single wireless carrier, making it possible for users to switch providers without buying a new phone.
Heathrow Airport has earned a profit for the first time since it was taken over by a consortium led by a Spanish infrastructure group in 2006. However, it still plans to cut the jobs of one-fifth of its core personnel as part of a restructuring plan.
A controversial trade deal being touted by the White House is expected to give American corporations broad new authority if approved. Now according to newly released documents, big banks gave millions to the execs that are now orchestrating the agreement.
Algeria, with Africa’s second biggest gas reserves, has asked Russia’s Gazprom and Lukoil to tender for the joint development and exploration of some of the 30 fields that make up a fifth of the country, says Gazprom International.
The future of the Afghan-US security pact, which would allow US troops to stay in the country, is likely to get into the hands of Karzai’s successor, since Hamid Karzai shows reluctance to sign the deal.
The CEO of Lloyds Bank, Antonio Horta-Osorio, will get his bonus worth $2.8 million paid in shares vested in 2019. While the CEO insists the reward was fair as the bank is “back to normal”, critics call it a “kick in the teeth of hard-working staff.”
China and Russia are to build the world’s biggest thermal power plant with an 8 gigawatt capacity. The Erkovetskaya TPP project in Russia’s Amur region could cost up to $24 billion, and will export energy to China where domestic demand is high.
Britain's Barclays Bank plans to cut about 12,000 jobs worldwide, after profits dropped 32 percent in 2013. A shrinking bottom line is coupled with a 10 percent increase in the bonus pool, which grew to $3.9 billion.