Global economy faces $19tn corporate debt timebomb, warns IMF

Update on markets lists eight leading countries, including US, China and UK, as vulnerableLow interest rates are encouraging companies to take on a level of debt that risks becoming a $19tn (£15tn) timebomb in the event of another global recession, the…

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Mallorca residents call for cruise ship limit of one a day in Palma

Over 10,000 sign petition asserting that cruise tourism is ‘unsustainable and undesirable’Over 10,000 people have signed a petition calling for a limit of one cruise ship a day docking in Palma de Mallorca.Some 500 giant cruise ships dock in the city o…

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Andrea Orcel’s €100m compensation claim from Santander is absurd

When the bank declined to appoint him chief, did his lawyer say: ‘Think of a number and multiply it by 10’?Think of a large round number and multiply it by 10. This, one must assume, was the legal advice offered to Andrea Orcel as he pondered how much …

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