Business

New York City taxi drivers have been caught out overcharging passengers by $8.3 million in the past two years. The drivers were found to have been setting their meters at double rate and at least 1.8 million rides were wrongly charged.

The British government announced on Thursday that it was planning to build a $45 billion high speed rail corridor between the cities of London and Birmingham, and eventually to link to the northern cities of Manchester and Leeds. The train's 250 mph speed could reduce the time to travel the distance between London and Birmingham from 84 minutes to 49 minutes, project developers claim.

Amari, Thailand's leading domestic hotel management company today announced the formation of a new corporate structure with the creation of ONYX Hospitality Group, a new management company. This strategic development allows the company to pursue its previously announced expansion plans, moving beyond Thailand to pursue hospitality management opportunities in the Asia Pacific and Arabian Gulf regions.

Thanachart Bank will purchase a 47.58% stake in Siam City Bank PCL from the Bank of Thailand's rescue arm in a deal valued at 68 billion baht ($2.08 billion).

Thailand's central bank on Wednesday decided to maintain its policy interest rate and signaled it would consider adjusting it to normal levels during the next meeting on April 21, if no incident affects the economy.