OECD Study: Benefits of the US economic recovery is not evenly distributed

Buyers in the pictures USImage copyrightGETTY
The OECD report said that while the US has recovered from the global recession, the United States, income inequality continues to increase.

US economic production jumped by 10% in the last pre-crisis peak in 2008, ahead of other major economies such as the euro area.

However, OECD Secretary General Angel Gurria said that the benefits of economic recovery should not be evenly divided.

Women and minorities "is faring less well," he said.

Mr. Gurria said that US politicians need to put aside their differences and raising the minimum wage, which he called "a good recipe in a number of other countries."

"This does not necessarily have to take so much time and so much political acrimony," he said.

The US government should expand the Earned Income Tax Credit, and help people back to work through a skills program, he added.

The OECD said the investment growth will strengthen productivity growth.

Pound sees the biggest daily percentage gain since March 2009

Series pound notesImage copyrightPRESS Assocation
Image EU referendum vote captionThe caused increased market volatility
The pound jumped the most against the dollar in the past seven years, as traders reconsidered the likelihood of Britain leaving the European Union.

The pound reached $ 1.4693, an increase of more than three cents, or 2.34%, the biggest increase in a single day since March 2009.

The rebound followed by several interviews over the weekend, which suggested a very tight race, but that leaves the campaign may lose a little momentum.

FTSE 100 index also rose, with shares closing 3% higher on Monday.

This is the biggest one day gain since February.

The Betfair, a firm that took in tens of millions of pounds a referendum betting related, says the likelihood remain voices rose from 65% on Friday to 72% on Monday.

"A pause in the campaign seems to have had a decisive support team remain," said Kathleen Brooks, director of Gain Capital Research.

"Markets have always been more comfortable in the UK, staying in the European Union."

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The pound has fallen sharply during the past week, after public opinion polls show seems Holidays campaign is playing a leading role.

But figures from the Commodity Futures Trading Commission, the US regulator on the market, offered a wide variation in the trading sentiment on Friday.

These data show that at the end of last week, the currency speculators had already begun to retreat pound again by lowering their bets against the currency.

This contrasts strongly with the first week of June, during which time traders betting against the pound rose to its highest level in the past three years.

However, analysts say, it is likely to be more volatility this week.

"After a major moves sterling over the past two days and limited risk premium in the price at the moment, the pound sterling now looks more vulnerable to the negative surprise from the polls," said ING strategist Peter Krpata in a research note.

A pile of pound coinsImage copyrightPRESS ASSOCIATION
Image captionCurrency traders reversed bets against the pound sterling, which was the largest in three years
Brexit exposure

Shifting sentiment on Monday led to an increase in the shares of banks and builders, who are considered more vulnerable to damage the UK vote to leave the EU.

Shares of Royal Bank of Scotland and Lloyds Banking Group, and rose more than 7%, while Barclays was more than 6%.

Barratt and Taylor Wimpey, two of the largest home builders in the UK, also saw their shares jump by nearly 7%.

Oil prices rose, and on Monday, with Brent Crude was trading up more than 2%, and is currently hovering around $ 50 a barrel mark, priced at $ 50.39.

World's most expensive cities for expats showed

Hong Kong skyline
Hong Kong is the most expensive city in the world for expatriates, pushing Luanda, capital of Angola, in the annual chart, compiled by consulting firm Mercer.

Luanda, which has consistently topped the list in recent years, fell in the rankings due to the weakening of the national currency.

Zurich and Singapore were the third and fourth on the list, unchanged from the previous year. Tokyo climbed to fifth.

The study is intended for companies to calculate allowances Expat workers.

He weighs the cost of living in 209 cities around the world, comparing the cost of over 200 items in each location, including housing, transport, food, clothing and entertainment.

Kinshasa took sixth place, speaking in the top 10 for the first time, followed by Shanghai, Geneva, N'Djamena and Beijing.

"Volatile"

Mercer said that ratings were affected by "volatile markets and stunted economic growth in many parts of the world."

least expensive cities for expatriates, according to the cost of living survey, a Namibian capital Windhoek, and then Cape Town.

In the UK, London dropped five places to 17th, Aberdeen fell seven places to 85th and Birmingham in 96th, was reduced to 16 seats. Further down the list, Glasgow fell 10 places to 119th, and Belfast was down three places to 134 th place.

A survey earlier this year, according to Economist Intelligence Unit (EIU), takes Singapore as a city in an expensive world than in Zurich, Hong Kong, Geneva and Paris.

The most expensive cities in the world for expats
1. Hong Kong 6. Kinshasa, Democratic Republic of the Congo
2. Luanda, Angola 7. Shanghai, China
3. Zurich 8. Geneva, Switzerland
4. Singapore 9. N'Djamena, Chad
5. Tokyo, Japan 10. Beijing, China
Source: Mercer

IMF warns US higher poverty rate

A man walking through MississippiImage copyrightGETTY IMAGES
US have been warned about its high level of poverty in the annual assessment of the International Monetary Fund Economics.

Foundation said about one in seven people living in poverty, and that it needs to be addressed urgently.

It is recommended to increase the minimum wage and offering paid leave to women to encourage them to work.

The report also cut its forecast for economic growth of the country in 2016 to 2.2% compared with the previous forecast of 2.4%.

The slowdown of the global economy and weak consumer spending have been charged.

US economic growth slowed to an annual rate of 0.5% during the first three months of the year, down sharply from 1.4% in the last three months of 2015.

"Social strains"

But the stronger the labor market means that in general, "the US economy is in good shape," said IMF Managing Director Christine Lagarde. Unemployment figures can show the speed of an eight-year low of 4.7%.

However, Ms Lagarde warned that "poverty is not only create significant social tensions, it also erodes the labor force participation and undermines the ability to invest in education and improving health outcomes."

"Our assessment is that, if left unchecked, these four forces - part performance, polarization and poverty - will erode the foundations of growth and keep the profits in the US standard of living," she added.

The report urged the US to invest in education, as well as to implement more social programs such as child care, to help poor Americans get the job done.

Alaska Air to buy Virgin America in the $ 4 billion deal

Horizontal tail of Virgin Atlantic and Alaska Airlines aircraftImage copyrightAlaskaAirlines
Alaska Air Group has agreed to buy Virgin America in the transaction $ 4 billion (£ 2.8 billion) to create the fifth-largest US airline.

This will allow Alaska Seattle expand into profitable hubs such as San Francisco and Los Angeles.

Two board "unanimously approved" the deal, which will see the Alaska purchase Virgin America for $ 57 (£ 40) per share.

However, the Virgin founder Sir Richard Branson said that "unfortunately, nothing [he] could do to stop the" deal.

This merging of commercial airlines as US Airways and American Airlines first in the United States combined in 2013 to make the largest carrier in the world.

"Sadness"

Sir Richard BransonImage copyrightFrazer Harrison
Image captionSir Richard expressed his "sorrow" in the transaction for the acquisition of Alaska Air Virgin America
Virgin America, which accounts for about 1.5% of US domestic flight capacity was listed on the US stock market in 2014 as an offshoot of the London Virgin Group.

In a company blog, Sir Richard said: "I would be lying if I did not admit that our great sadness combined with another airline.

"Because I am not an American, the US Department of Transportation provided I take some of my shares of Virgin America, as the non-voting shares, reducing its impact on any absorption. So it was not, unfortunately, I could not do anything to stop it" .

He added that the consolidation is a trend that "can not be stopped," with the four airlines currently controlling more than 80% of the US market.

expansion

Alaska and its partner regional airlines, which together account for about 5% of US domestic flight capacity, serving more than 100 cities in the US, Canada, Costa Rica and Mexico.

If the transaction is approved by the state of US regulators and shareholders of Virgin America, the companies plan to complete the transaction before January 1, 2017.

Brad Tilden Regional, chairman and chief executive officer of Alaska Air Group, said: "With our extended network and strong presence in California, we offer customers a more attractive flight options to travel non-stop."

Virgin America shares rose 40% to $ 54.52 - just below the offer price - in early trading.

Alaska, which is reported to have beaten competition from rival Jet Blue Airlines for the company, fell 4.7% to $ 78.15.

Foxconn modify absorption Sharp

Imaginary walk before Sharp AQUOS "s flat-panel TVs in an electronics store in Tokyo, Thursday, February 25, 2016Image copyrightAP
captionSharp Image struggling with heavy debts and went through two main injections
Taiwanese manufacturer Foxconn says it has finally agreed to take on the struggling Japanese electronics company Sharp.

Foxconn said the deal is worth 389bn yen ($ 3.5bn, £ 2,4 billion) and give her a 66% stake in Sharp.

The Foxconn, which assembles most of the iPhones in the world, for the first time offered to invest in the troubled Japanese company in 2012, but the negotiations failed.

Both companies said that the deal will be signed on April 2nd.

This will be the first foreign capture of a major Japanese electronics firm.

Describing himself as a "world-class leaders in the technology industry", the Foxconn and Sharp announced that they will form a "historic strategic alliance."

The innovative firm

Established in 1912, Sharp is one of the oldest Japanese technology firm.

Japanese officials are reluctant to let it fall under foreign ownership because of the distinctive technology behind its display panels.

Prior to the announcement of the deal with Foxconn, Sharp discussing competing proposals from the government-backed consortium of Japanese investors.

Although in recent years there has been decline in his life, the company is still the leader in LCD technology, a key asset for Foxconn.

In 2012, Sharp was close to bankruptcy input. He is struggling with heavy debts and went through two main injections for the past four years.

Sharp innovations include mechanical pencil in 1915 and innovative developments in television technology.

Foxconn modify absorption Sharp

Imaginary walk before Sharp AQUOS "s flat-panel TVs in an electronics store in Tokyo, Thursday, February 25, 2016Image copyrightAP
captionSharp Image struggling with heavy debts and went through two main injections
Taiwanese manufacturer Foxconn says it has finally agreed to take on the struggling Japanese electronics company Sharp.

Foxconn said the deal is worth 389bn yen ($ 3.5bn, £ 2,4 billion) and give her a 66% stake in Sharp.

The Foxconn, which assembles most of the iPhones in the world, for the first time offered to invest in the troubled Japanese company in 2012, but the negotiations failed.

Both companies said that the deal will be signed on April 2nd.

This will be the first foreign capture of a major Japanese electronics firm.

Describing himself as a "world-class leaders in the technology industry", the Foxconn and Sharp announced that they will form a "historic strategic alliance."

The innovative firm

Established in 1912, Sharp is one of the oldest Japanese technology firm.

Japanese officials are reluctant to let it fall under foreign ownership because of the distinctive technology behind its display panels.

Prior to the announcement of the deal with Foxconn, Sharp discussing competing proposals from the government-backed consortium of Japanese investors.

Although in recent years there has been decline in his life, the company is still the leader in LCD technology, a key asset for Foxconn.

In 2012, Sharp was close to bankruptcy input. He is struggling with heavy debts and went through two main injections for the past four years.

Sharp innovations include mechanical pencil in 1915 and innovative developments in television technology.