News That Matters

Tag: demand

Credit crunch leads to increase in demand for gold loans

Credit crunch leads to increase in demand for gold loans

Finance
Refused a loan by a state-run lender and desperate for funds to buy cotton seeds before the summer sowing season window closed, Indian farmer Babasaheb Mandlik ran out of choices - he pawned his wife's gold jewellery. Mandlik, who owns an 8-acre cotton farm in western India, pledged 70 grams of gold, almost all of his wife's precious trinkets, in June in return for 150,000 rupees ($ 2,105). "Pawning the jewellery was a difficult decision as my wife likes to wear it at festivals and weddings," 50-year-old Mandlik told Reuters. "I convinced her that we didn't have any other option." Mandlik is not alone. While pawning gold has long been an option for quick funds in a country that is the world's second-biggest consumer of the yellow metal, several lenders told Reuters of unprecedented demand ...
TUI losses widen to £261m as Brexit weighs on demand

TUI losses widen to £261m as Brexit weighs on demand

Business
By John-Paul Ford Rojas, business reporter Travel operator TUI has reported widening half-year losses and a fall in summer bookings as it counts the cost of weak consumer confidence and Brexit uncertainty.The group reported an underlying loss of €301m (£261m) for the six months to the end of March, up from €170m (£148m) in the same period a year ago. It has also been knocked by the grounding of Boeing's 737 MAX aircraft, which it has previously warned could cost up to €300m (£261m) as it leases more aircraft to cover its routes.TUI said the decline in its first-half performance was partly due to the knock-on impact of last summer's heatwave holding back bookings and because it had too much capacity in Spain as holidaymakers opted for cheaper destinations such
Huawei 5G row: Ministers demand leak inquiry

Huawei 5G row: Ministers demand leak inquiry

Technology
Government ministers are calling for a "full and proper" investigation after high-level discussions about the UK using Huawei technology were leaked. The government has approved the supply of equipment by the Chinese telecoms firm for the UK's new 5G data network - despite warnings of a security risk. It is believed the decision was taken at a meeting of the government's National Security Council on Tuesday.One minister said leaking from the council was "simply not acceptable".The senior minister told BBC political editor Laura Kuenssberg that leaking the conversations was "extraordinary...the security council is the holy of holies".There were "huge concerns" over "getting into bed" with the telecoms giant, the minister said.What was the leak about?Minist...