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More business travellers are booking their own trips

More business travellers are booking their own trips

Finance
A friend of Gulliver’s recently received some devastating news, in the form of a change to company policy. No longer would he and his co-workers be able to book their own flights and file for reimbursements. Instead, the firm would buy all employees’ plane tickets from the start.On the face of it, this is a convenient change. It saves staff time by ensuring that they do not have to fill in tedious expense forms. But many business travellers may not see it that way. A study from Phocuswright, a travel-research firm, finds that more and more employees are booking their own travel and filing for reimbursements. Sometimes doing so allows for a better itinerary: travellers can avoid annoying layovers and airlines for which they reserve particular ire. Sometimes, if they are feeling generous tow
Irma is looking more and more Tampa-bound, forecasters say

Irma is looking more and more Tampa-bound, forecasters say

Technology
The National Hurricane Center says it's looking more likely that the eye of powerful Hurricane Irma will strike the Keys, southwestern Florida and the Tampa Bay region starting Sunday. But that doesn't mean Miami area is in the clear. It's not. The western part of the state will most likely get the worst of Irma. And even though Irma weakened when it raked the Cuban coast and islands, it's expected to get its strength back over the ultra-toasty Florida Straits and hit the Sunshine State as a dangerous Category 4 storm. "Cuba has given it a blow but it's nowhere near being knocked out," said private meteorologist Ryan Maue of WeatherBell Analytics. "You're still taking a Category 4 hurricane up across the entire west coast of Florida and you're not weakening it very fast." Look for Irma to...
Here is why Indians are retiring poor with more debt and no pension

Here is why Indians are retiring poor with more debt and no pension

Finance
NEW DELHI: Indian families borrow and invest in very different ways than families in the US, UK or Germany, and even those in China. The depth of these differences, across all ages and economic levels, is revealed in a recent report on household finances prepared by the RBI. It shows that a major proportion of household wealth in Indian families is kept as real estate or gold, even among younger families, and even by the poorest 40 per cent of population. This is not the case in other countries. Institutional borrowings by Indian families are low in early life and go on increasing leaving many retired persons with a debt overhang, unlike advanced countries where mortgages reduce after retirement. And, pensions are virtually absent in India while in most Western countries they are a...
After-hours buzz: HRB, AVAV, OLLI & more

After-hours buzz: HRB, AVAV, OLLI & more

Finance
Check out the companies making headlines after the bell: Shares of H&R Block fell more than 4 percent during after-hours trading. The tax preparation company reported a first quarter loss that was in-line with expectations. The results reflect the seasonality of the business, CFO Tony Bowen said in a statement. However, H&R Block beat revenue expectations. AeroVironment's stock surged more than 9 percent during extended trading after the company's bottom line topped Wall Street expectations. The company a loss of 19 cents a share, compared with a loss of 34 cents a share expected by analysts polled by Thomson Reuters. The company's top line also topped analysts' estimates. Ollie's Bargain Outlet shares fell about 2 percent despite beating second quarter earnings and revenue expecta...
More oil and gas possible from the Barents Sea

More oil and gas possible from the Barents Sea

Business
Aug. 28 (UPI) -- A Norwegian energy regulator said Monday it was assessing the extent of the oil available in two wells drilled by Lundin Petroleum in the Barents Sea.The Norwegian subsidiary of Lundin, which has headquarters in Stockholm, completed two appraisal wells in its Alta oil and gas discovery in the Barents Sea recently. According to the Norwegian Petroleum Directorate, about 85 percent of the reserves encountered in the two wells were oil.The company made the initial discovery at the Alta prospect in 2014 and estimated it holds between 125 million and 400 million barrels of oil equivalent."The results from the appraisal wells are important with regard to the further work on mapping the eastern flank of the discovery," the NPD declared in a statement. "The resource estimate will ...