Business

Asian markets track Wall St records as energy firms rally

Asian markets mostly rose on Wednesday, led by energy giants onrising commodity prices, while traders were also buoyed by strong earnings and positive economic data ...

Off Namibia, an underwater diamond harvest

A vast mechanical monster rises from the Atlantic Ocean off the coast of Namibia, leaving a huge swell in its wake as seawater pours off ...

Quirky US-French museum to offer night on Orient Express

Visitors to a quirky rail museum in France's Burgundy region, the brainchild of US entrepreneur Gregory Marshall, will have a new opportunity to spend a ...

Odebrecht paid $27.7 mln in bribes in Colombia: prosecutor

Brazil's Odebrecht paid more than $27.7 million in bribes in Colombia, including $11.1 million the United States has identified, a prosecutor said on Tuesday. Four ...

Petronas drops massive natural gas project in western Canada

Petronas said on Tuesday it was pulling out of its Can$36 billion ($28.8 billion US) liquefied natural gas exporting project on Canada's west coast long ...

New York outlines $8.8 bln plan to overhaul subway

New York's beleaguered subway system outlined Tuesday a rescue plan of $800 million with another $8 billion in the long-term to battle chronic delays, breakdowns ...

Trump says Apple promised three new US plants: report

The Wall Street Journal on Tuesday reported that US President Donald Trump said Apple has promised to expand manufacturing at home with three new US ...

Adobe bidding Flash farewell in 2020

Adobe on Tuesday said its Flash software that served up video and online games for decades will be killed off over the next three years. ...

US Commerce Secretary: NAFTA talks need quick outcome

US and Mexican political deadlines are creating pressure to reach a quick outcome to next month's talks to rework North America's regional free trade pact, ...

VW executive to plead guilty in 'dieselgate' case

A Volkswagen executive charged with fraud and conspiracy for his part in covering up the "dieselgate" emissions-cheating scandal has agreed to plead guilty, US officials ...

Musk, Zuckerberg duel over artificial intelligence

Visionary entrepreneur Elon Musk and Facebook chief Mark Zuckerberg were trading jabs on social media over artificial intelligence this week in a debate that has ...

France unemployment falls at start of Macron presidency

The number of jobless in France dipped slightly in June, the first full month under President Emmanuel Macron, who has launched labour reforms aimed at ...

Trump touts 'very big' trade deal with Britain

US President Donald Trump touted the prospects of a "very big" trade deal with Britain on Tuesday as the minister tasked with clinching accords for ...

US Fed opens 2-day meeting amid weak inflation

The US Federal Reserve opened its two-day monetary policy meeting on Tuesday but is widely expected to leave the key interest rate untouched after raising ...

Caterpillar boosts outlook, sending shares higher

Global machinery giant Caterpillar reported a jump in second-quarter profits Tuesday and lifted its full-year forecast, amid strong construction in China and improving commodity markets. ...

Sri Lanka finalises $1.12 bn port deal with China

Sri Lanka's government Tuesday approved the sale to China of a majority stake in a loss-making but strategically-sited deep sea port for more than a ...

McDonald's surges on strong earnings, growth plans

McDonald's enjoyed a fat day on Wall Street Tuesday after wowing investors with better-than-expected earnings and progress in efforts to grow sales through delivery and ...

Daimler may escape cartel fine after coming clean first

Daimler was the first firm among a suspected German carmakers' cartel to break ranks and report the collaboration to authorities, potentially sparing it billions in ...

GM 2Q profits plunge 42% on overseas restrurcturing costs

General Motors saw profits plunge in the second quarter after it took a hit from the cost of shuttering less profitable overseas operations, and the ...

Airlines will need 637,000 new pilots over next 20 years: Boeing

Airlines will need 637,000 new pilots over the next 20 years to keep pace with the growth of global air traffic, Boeing reported Tuesday in ...

Shell shuts down key supply pipeline in Nigeria

Anglo-Dutch energy giant Shell said Tuesday it has shut down a key crude supply pipeline in Nigeria's restive south because of a leak. Shell subsidiary ...

Greece returns to debt markets after three-year hiatus

Greece returned to the debt markets for the first time in three years on Tuesday, with reports saying it was on track to raise funds ...

German business confidence hits record high in July

Confidence among German business leaders hit a "euphoric" all-time high in July, the Munich-based Ifo institute said, beating analysts' expectations of a small decline. The ...

AkzoNobel calls September meeting on US takeover bid

Under-pressure Dutch paintmaker AkzoNobel announced Tuesday it would hold a much-anticipated shareholders meeting in September to discuss a US takeover bid as one of the ...

Michael Kors buys Jimmy Choo for £900m

US fashion brand Michael Kors on Tuesday agreed to buy British shoemaker to the stars Jimmy Choo for almost £900 million ($1.2 billion, 1.0 billion ...

Indian stocks soar to new records in 'peculiarly powerful rally'

India's stock markets hit record highs on Tuesday with the National Stock Exchange's much-watched Nifty index breaking the psychological 10,000-point mark for the first time ...

Dassault Systemes in 'biggest ever contract' with Boeing

French industrial software company Dassault Systemes announced Tuesday it has reached a deal with US aerospace giant to modernise its production system, in what it ...

South Korea tips fastest growth in three years in 2017

South Korea said Tuesday its economy is set to grow at its fastest rate in three years in 2017, on the back of strong exports ...

Iran's tech sector blooms under shield of sanctions

The names may be unfamiliar but the services are immediately recognisable: Snapp is Iran's answer to Uber, Digikala is its Amazon, and Pintapin its Booking.com. ...

UK Serious Fraud Office probes Rio Tinto Guinea project

Britain's Serious Fraud Office has opened an investigation into mining giant Rio Tinto for "suspected corruption" surrounding the development of the world's biggest untapped iron-ore ...

Dutch dust off 'painful' Nazi bunkers for tourism and healing

Just behind The Hague's sandy beaches under the dunes lie dozens of Nazi bunkers built during World War II which the Dutch are now dusting ...

European stocks climb on copper bounce, Greek news

Europe's main stock markets rose on Tuesday, with miners boosted by high copper prices and as investors welcomed Greece's return to international debt markets. The ...

SK Hynix posts 'best-ever' quarterly profit

South Korean chipmaker SK Hynix posted record profits in the second quarter of the year, the company said on Tuesday, as strong demand for its ...

Alphabet profit hit by EU fine on Google

Google parent Alphabet on Monday saw shares slide as the market reacted to a massive fine by the European Commission and word that success in ...

Microsoft keeps Paint in its software palette

Microsoft put out word that it would not abandon Paint after reports of its pending demise triggered a deluge of lament from fans of the ...

Oil producers seek further output cuts at Russia meeting

Global oil producers, meeting in Russia Monday, called for stricter adherence to their agreement to cut output, with the inclusion of top African producer Nigeria. ...

US existing home sales slide in June

Sales of existing US homes dipped in June, squeezed by a tight market struggling to keep up with demand, according to industry figures released Monday. ...

EU warns Turkey economy at risk in Germany row

The European Union warned Turkey on Monday that its economy could be harmed if growing tensions with the bloc, and especially with Germany, get out ...

Rwanda targets high-end tourist market

Nicaraguan singer Hernaldo Zuniga brought his entire family to trek through the lush forests and mist-shrouded volcanoes of northwestern Rwanda in search of mountain gorillas. ...

Greece attempts bond comeback after 3-year absence

Greece will make its first return to the debt markets in three years on Tuesday, testing the waters to see if it can begin to ...

Turkey drops terror link charge against German firms: Berlin

Germany said Monday Turkey had informed it that Ankara had dropped accusations of "terrorism" funding against major German companies, amid a raging dispute between the ...

Cartel probe looms over German car industry

German carmakers faced a brewing scandal Monday as suspicions grew they colluded illegally for decades, further damaging the industry's image and exposing it to massive ...

Greece seeing 'light at end of austerity': EU commissioner

Greece is seeing "the light at the end of austerity", the EU's economy commissioner Pierre Moscovici said Monday, calling the reforms imposed on Athens by ...

Eurozone economy hits 'speed bump' in July: survey

Eurozone private sector business activity slowed in July for the second month running but was still running near six-year highs, a closely watched survey showed ...

Ryanair firms Alitalia interest, as EasyJet boosts jobs

Ryanair has made a "non-binding offer" for loss-making Italian rival Alitalia, the Irish no-frills carrier said Monday, as rival EasyJet said it plans to employ ...

Philips profits plunge 32.9% in second quarter

Dutch electronics giant Philips on Monday posted a 32.9 percent fall in second quarter profits, hit mainly by the costs of spinning off its lighting ...

Uber rival Grab to raise $2.5 billion in new financing

Southeast Asian ride-hailing firm Grab said on Monday it expects to raise $2.5 billion in financing, mostly from China's Didi Chuxing and Japan's Softbank, as ...

Mideast growth to dive as Saudi economy stagnates: IMF

Economic growth in the Middle East and North Africa is forecast to slow considerably over oil prices as the Saudi economy slides, the International Monetary ...

IMF says global recovery on firmer footing

The global economic recovery is on firmer footing as improving growth in China, Europe and Japan offset downward revisions for the United States and Britain, ...

Mexico artisans handcraft gloves for boxing legends

In a boxing world often dominated by promoters, self-promoters and glitz-- exhibit A, Mayweather vs. McGregor -- Alberto Reyes likes to do things the old-fashioned ...

Global markets split amid corporate earnings

Wall Street and major European stocks ended in mixed territory on Monday amid a busy weak of US corporate earnings. Meanwhile, the dollar continued to ...

BMW denies collusion on diesel emissions

German luxury carmaker BMW on Sunday denied any collusion with industry rivals on emissions from its diesel engines, saying none of its models had been ...

Nigeria's ex-oil minister battles slew of graft cases

Nigeria's former oil minister faces charges only at home but her name crops up in a growing number of international cases that lift the lid ...

China cashing out as mobile payment soars

Yang Qianqian holds out her smartphone to scan a barcode on the mobile of a vendor selling fresh fruit and vegetables at a bustling outdoor ...

No-show inflation poses conundrum for US Fed

After tightening monetary policy last month for the second time this year, the US central bank is expected to pause for the next few months ...

French grape harvest heading to historic low

Knocked off course by a cold spring snap, French wine production from Bordeaux to Alsace has dropped dramatically this year and could hit "a historic ...

France's SocGen bank fined over anti-terror lapses

France's banking watchdog said Friday it had fined Societe Generale five million euros ($5.8 million) over lapses in its measures to prevent money laundering that ...

High-tech mystery: Is a Facebook phone in the works?

Facebook could be working on a smartphone, according to paperwork recently spotted by cyber sleuths which the tech giant filed earlier this year. A Facebook ...

Bank of America picks Dublin as post-Brexit hub

Bank of America announced Friday that it will move its hub for EU business to Dublin from London following Brexit. The Irish capital will be ...

Deutsche Bank says to move jobs to Frankfurt post-Brexit

Germany's largest lender Deutsche Bank is bracing for Brexit and will have to move jobs from London to its headquarters in Frankfurt, chief executive John ...

German carmakers 'colluded' on diesel emissions: report

German carmakers Volkswagen, Audi, Porsche, BMW and Daimler secretly worked together from the 1990s onwards on issues including polluting emissions from diesel vehicles, news magazine ...

Gloomy outlook from GE sends shares lower

General Electric offered a downcast earnings outlook Friday based on weakness in its oil and gas and power divisions, as the company's leadership transitions to ...

IMF deal on Greece 'very positive' for markets: EU's Moscovici

The International Monetary Fund's approval of a one-year $1.8-billion loan for Greece was a "very positive signal for the markets," the EU's Commissioner for Economic ...

Ryanair sets deadline for Brexit air travel deal

Ryanair will slash flights between Britain and the EU if London and Brussels fail to agree on terms for post-Brexit air travel by September next ...

Despairing young Italians seek greener pastures abroad

"Italy gets worse every time you look at it and offers less and less to young people," says Antonio Davide D'Elia, just one of thousands ...

Audi voluntarily recalls up to 850,000 diesel vehicles

German luxury carmaker Audi, a Volkswagen subsidiary, issued a voluntary recall of up to 850,000 diesel vehicles Friday, saying it would help reduce engine emissions. ...

UK could accept EU immigration in Brexit transition: reports

The British government could agree to free movement of people during a Brexit transition period, newspapers reported on Friday in what would be a major ...

India's Ambani to launch free smartphone as he shakes up telecoms

India's richest man Mukesh Ambani said Friday that his telecoms venture Jio would launch a free smartphone, escalating a price war that is shaking up ...

Britain's Johnson hails 'record high' Japanese investment

Japanese investment in the UK has hit a "record high" since last year's shock Brexit vote, British Foreign Secretary Boris Johnson said Friday, during a ...

N. Korea economy grows at fastest pace in 17 years: Seoul

Despite global sanctions over its weapons programmes, North Korea's economy grew at the fastest pace in 17 years thanks to a jump in exports and ...

Siemens scales back Russian ops over Crimea turbines

German industrial conglomerate Siemens said Friday it would scale back its Russia operations after confirming gas turbines it sold to companies there had been diverted ...

Swatch says profits up in first half

Swiss watchmaker Swatch said Friday that its profits rose in the first six months, butits performance was dampened by the strength of the Swiss franc. ...

European stocks slump on higher euro; Nasdaq streak ends

European stock markets ended the week down as the euro extended its gains on Friday after the European Central Bank said it would reassess its ...

IMF approves $1.8 bn loan for Greece 'in principle,' no funds released

The International Monetary Fund late Thursday approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees ...

Microsoft profit rises on shift to cloud computing

Microsoft on Thursday reported that its quarterly profit climbed to $6.5 billion, lifted by its shift to computing services hosted in the internet cloud. The ...

Volkswagen fined $154 mn more in US for dieselgate

Volkswagen must pay an additional $154 million to California to settle state environmental charges in the latest penalty in the scandal over its use of ...

Google, EU dig in for long war

Google and the EU are gearing up for a battle that could last years, with the Silicon Valley behemoth facing a relentless challenge to its ...

Sears in deal to sell Kenmore appliances on Amazon

Slumping US retailer Sears announced an agreement Thursday to sell appliances from its Kenmore line on Amazon, a move that is expected to stiffen competition ...

Business world activates Brexit plans as fears grow

US financial firms and no-frills airline easyJet have begun activating Brexit contingency plans and fears are growing that the trickle could turn into a flood ...

US fines Exxon $2 mn over sanctions violations under Tillerson

The United States on Thursday hit oil giant ExxonMobil with a $2 million fine for violating Ukraine-related sanctions at a time when Secretary of State ...

Citigroup picks Frankfurt as new EU hub after Brexit

Citigroup has picked Frankfurt as its headquarters for broker-dealer duties for EU countries after Brexit, a Citigroup executive announced Thursday in an email reviewed by ...

Autopsy confirms convicted Spanish banker committed suicide

An autopsy on the body of the former head of Spanish bank Caja Madrid, who was sentenced to six years in prison for graft, confirms ...

ECB must be 'patient' to reach inflation target: Draghi

The European Central Bank must be "patient" as it pushes to bring inflation towards its target of just below 2.0 percent, president Mario Draghi said ...

Few hints at stimulus exit from 'persistent, patient' ECB

European Central Bank chief Mario Draghi on Thursday played down suggestions the institution might soon wind down its massive economic stimulus, saying policymakers must be ...

ECB holds course as markets wait for exit hints

The European Central Bank held its key interest rates and a mass bond purchase programme unchanged Thursday, sending a calming message to financial markets looking ...

Air France unveils Joon - the 'millenials' airline

Air France on Thursday unveiled a new lower-cost subsidiary called Joon that will specifically target well-travelled millenials. A new medium-haul service will begin operating from ...

Germany vows economic steps against Turkey as row escalates

Germany on Thursday vowed stinging measures hitting tourism and investment in Turkey and a full "overhaul" of their troubled relations, signalling its patience had snapped ...

UK to decide on Murdoch's Sky takeover bid in weeks

Britain will within "weeks" decide whether to formally investigate the proposed takeover of pan-European satellite TV giant Sky by Rupert Murdoch's 21st Century Fox entertainment ...

Audi pulls 'sexist' China ad after public outcry

German automaker Audi apologised on Thursday over an advertisement it aired in China that was slammed as sexist for showing a bride-to-be being roughly examined ...

Philippines eyes opening telecoms to foreign control

Limits on foreign ownership of the Philippine telecom industry should be lifted to attract investment and improve its service, a senior minister said Thursday. Currently ...

EasyJet wins AOC in Austria, upgrades outlook

EasyJet has secured an air operator's certificate in Austria that will enable it to keep flying across the EU after Brexit, the low-cost carrier said ...

SAP lifts forecasts on strong second-quarter revenue

German software maker SAP on Thursday upgraded its revenue forecast for the full year, as cloud computing boosted sales in the second quarter, while profits ...

Unilever first half profits soar 22.4 percent

Food and consumer products giant Unilever said on Thursday profits soared in the first half of 2017, raking in 3.3 billion euros after the Anglo-Dutch ...

Elon Musk says successful maiden flight for Falcon Heavy unlikely

SpaceX CEO and founder Elon Musk has downplayed the chances of a successful inaugural flight for his Falcon Heavy space launch vehicle, admitting there is ...

BoJ slashes annual inflation forecasts

The Bank of Japan on Thursday slashed its annual inflation forecast and once again delayed its timetable for hitting a two percent target as the ...

Euro gets boost from ECB's Draghi; Nasdaq ekes out record

The euro rose Thursday after European Central Bank chief Mario Draghi's comments bolstered the single currency even as interest rates were kept low again. Draghi ...

Draghi to calm waters ahead of easy-money exit

European Central Bank chief Mario Draghi will carefully prepare markets for a long-awaited end to the institution's easy-money policy Thursday, analysts expect, but stop short ...

Havaianas: the flip-flops emblematic of Brazil -- corruption and all

You'd be hard pressed to find an item more representative of Brazil than Havaianas: those brand-name flip-flops adopted by just about every inhabitant, rich or ...

Japan trade balance returns to surplus in June

Japan logged a trade surplus of nearly $4 billion in June, rebounding from a deficit the previous month, but its politically sensitive surplus with the ...

NAFTA changes could cost US auto industry jobs, raise car prices: study

Imposing new tariffs on imports from Canada and Mexico could raise the price of new cars in the US by an average of $1,100 and ...

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