Business

AT&T, Verizon join Google ad boycott

AT&T and Verizon on Wednesday joined global firms pulling ads from Google, saying they did not want their brands associated with inappropriate content on the ...

Movies draw record $38.6 bn at box office in 2016: MPAA

The global box office for films took in a record $38.6 billion last year, industry figures showed Wednesday, although receipts outside North America declined for ...

New York grants license to trade more virtual currencies

New York authorities on Wednesday granted a license to Coinbase to trade in two additional virtual currencies, expanding the company's services which already included Bitcoin ...

Saudi Arabia loses Fitch rating over budget concerns

Saudi Arabia on Wednesday lost its high-quality credit rating from the Fitch agency, which lowered the kingdom a notch because of worsening public finances as ...

Eurogroup chief regrets drinks remarks but won't quit

Eurogroup chief Jeroen Dijsselbloem on Wednesday expressed "regret" over his comments that southern European countries blew their money on "drinks and women" but rejected calls ...

Deutsche Bahn names new CEO after shock walkout

German rail giant Deutsche Bahn on Wednesday named finance director Richard Lutz as its new chief executive, replacing a boss who quit unexpectedly after contract ...

Dutch bank ING probed for money laundering, corruption

Leading Dutch bank ING is under criminal investigation in The Netherlands due to concerns related to "money laundering and corrupt practices", bank officials and prosecutors ...

Porsche celebrates record year with '911' bonus payout

German carmaker Porsche said Wednesday it would celebrate a record year with a one-off payment to workers of up to exactly 9,111 euros, a nod ...

Brexit banks fleeing London must commit to EU: ECB

Banks moving from London to European Union financial centres as Britain quits the bloc will not be given an easy ride by regulators, the European ...

China's Geely opens UK plant for electric London taxis

Chinese carmaker Geely, owner of the London Taxi Company, opened Wednesday a £300-million UK factory making only electrical versions of the iconic London black cab ...

Tencent profits up on mobile gaming success

Chinese technology giant Tencent reported a profit boost Wednesday, helped by the growing popularity of its mobile games. Net profit for 2016 was up 43 ...

German wages rise for third year in a row in 2016

German workers enjoyed a strong increase in wages for the third year in a row in 2016, official data showed Wednesday, in news likely to ...

Airbnb to double investment in China, adopt new name

Airbnb, the home rentals website, said on Wednesday it would double its investment in China, triple its workforce there and change its name to "Aibiying" ...

Art market 'down 11 percent in 2016'

Global art sales fell 11 percent in 2016, dragged by a global growth slowdown and political headwinds, a new report said Wednesday. The US remained ...

Club Med 'drinks and women' row threatens Euro chief

Eurogroup chief Jeroen Dijsselbloem faced calls to quit Wednesday as a row escalated over his comments that southern European countries blew their money on "drinks ...

Philippines complains drug war reports hurting tourism

The Philippines's tourism secretary urged the media Wednesday to "tone down" coverage of President Rodrigo Duterte's deadly drug war, complaining that reports on extrajudicial killings ...

Bags carry Hermes to record profit

A jump in sales of its trademark leather bags helped Hermes push its annual profits last year above one billion euros for the first time ...

US to charge Malaysia businessman in 1MDB scandal: report

US authorities plan to file criminal charges against a businessman suspected to be at the centre of a major corruption scandal that has embroiled Malaysia's ...

Swiss watch exports tumble ahead of Basel trade fair

The world's biggest watch fair will open in Switzerland this week, even as slumping exports of luxury Swiss timepieces appear to dash hopes of a ...

Turkish Cypriots push private sector despite embargo

With its pristine floor tiles and colourful storefronts, Famagusta's new City Mall symbolises efforts by the northern part of divided Cyprus to encourage investment despite ...

US stocks end mostly higher ahead of legislative vote

US stocks mostly rebounded Wednesday ahead of a key congressional vote on health care, but doubts about the prospects for President Donald Trump's broader agenda ...

Uber chief remains in driver's seat on road to change

Uber chief Travis Kalanick will remain in the driver's seat as the scandal-tainted on-demand ride service tries to plot a friendlier course with workers, riders ...

Japan's February trade surplus hits multi-year high

Japan's trade surplus hit a multi-year high in February, government data showed Wednesday, as exports to China rebounded after a Lunar New Year lull. The ...

California lawmakers warn companies against working on Trump wall

Three California lawmakers have introduced legislation that would penalize firms keen to take part in President Donald Trump's plan to build a wall along the ...

Nike gives cautious North American outlook; profits jump

Nike reported solidly higher third-quarter earnings Tuesday, but warned a tough North American selling environment would crimp profit margins. The sports apparel and sneaker giant ...

Petrobras sees $4 bn 2016 loss, but fourth quarter up

Brazil's troubled national oil company Petrobras posted a $4 billion loss in 2016 but ended in positive territory for the fourth quarter, executives said Tuesday. ...

Populism a 'threat' to Canada-Europe trade deal: EU commissioner

A Canada-EU trade pact will provisionally come into force in a few weeks, but could still unravel in the face of rising populism in Europe, ...

France to probe Fiat for emissions cheating

French investigating magistrates will open a probe into carmaker Fiat Chrysler for suspected cheating in diesel emissions tests, judicial sources said on Tuesday. The investigation ...

Twitter suspends more accounts linked to 'terrorism'

Twitter said Tuesday it suspended 376,890 accounts in the second half of 2016 for "promotion of terrorism," an increase of 60 percent over the prior ...

Goldman Sachs to move London jobs abroad on Brexit

US investment bank Goldman Sachs said Tuesday that it plans to move jobs from London to elsewhere in Europe over the next 18 months because ...

China asks WTO to weigh in on EU anti-dumping measures

China on Tuesday asked the World Trade Organization to create an expert panel to examine the so-called "surrogate country" approach used by the European Union ...

Hong Kong import ban deals Brazil meat industry big blow

Brazil's giant meat industry suffered a heavy blow Tuesday, when Hong Kong became the latest to ban imports in response to allegations of rotten meat ...

Japan PM, in Brussels, pushes EU trade deal

Japanese Prime Minister Shinzo Abe pledged on Tuesday to seal a EU-Japan trade deal as early as possible in order to make an important stand ...

BMW to squeeze more mileage out of luxury segment

German luxury carmaker BMW said Tuesday it was planning as many as 40 new top-of-the-rangemodels in the coming years in an effort to catch up ...

US envoy says US-EU trade deal still alive

Negotiations for a mega US-EU trade deal are still alive after they were suspended over elections and public opposition on both sides of the Atlantic, ...

BOC Aviation orders 13 Boeing jets worth $1.4 bln

Singapore-based aircraft leasing firm BOC Aviation said Tuesday it has ordered 13 new Boeing 737 MAX 8 planes worth a total of $1.4 billion at ...

Deutsche Bank soars as US closes currency probe

Shares in German lender Deutsche Bank leapt in Frankfurt trading Tuesday, as news US authorities had closed an investigation into past manipulation of currency markets ...

British inflation surges to 2.3%

British annual inflation jumped in February to the highest level in almost three and a half years, driven by increasing fuel costs, data showed Tuesday. ...

Google tools up to fix ads in wrong places

Google, which has seen a slew of companies withdraw ads after they appeared alongside extremist content, said Tuesday it was introducing new tools to give ...

Economic woes fuel rare public challenge to Belarus strongman

As some 3,000 demonstrators marched through the centre of the Belarusian capital Minsk their anger turned to the man who has dominated their lives for ...

European markets follow Wall Street lower

European stock markets turned lower on Tuesday, dragged down by losses on Wall Street where investors fretted about US President Donald Trump's ability to push ...

Washington signals about-face on globalization

On free trade, globalization and multilateral organizations, the United States has done an about-face on international engagement, calling the vaunted "Washington consensus" into doubt. During ...

UK banks 'handled' $740 mn in laundered Russian money: reports

Several British banks allegedly processed nearly $740 million in a multi-billion dollar Russian money-laundering scam, The Guardian newspaper reported on Monday. According to documents obtained ...

US poised to curb electronic devices on Middle East flights

The United States is poised to ban large electronic devices such as laptops or cameras on board flights from up to a dozen Middle East ...

Egypt gets part of World Bank loan: minister

Egypt on Monday received the second tranche of a $3-billion World Bank loan in support of the government's economic and social agenda, International Cooperation Minister ...

Morocco's Tangiers to host Chinese industrial city

Morocco and China's Haite Group signed an agreement on Monday to launch an industrial park near Tangiers for 200 Chinese companies that will create tens ...

Samsung voice-assistant Bixby to debut with new phone

Samsung announced Monday that a voice-powered digital assistant named "Bixby" will debut with a flagship Galaxy S8 smartphone set to be unveiled by the South ...

Hacked websites on the rise: Google

Google painted a bleak picture of cybersecurity trends Monday, saying the number of websites hacked rose 32 percent last year, with little relief in sight. ...

Greek talks to be 'intensified': Eurogroup head

Bailout talks between Greece and its eurozone creditors will intensify but there is no certainty of a quick deal, Eurogroup head Jeroen Dijsselbloem said Monday. ...

David Rockefeller, last grandchild of John D. Rockefeller, dies

Billionaire philanthropist David Rockefeller, a former head of Chase Manhattan bank and a luminary in political circles, died Monday at the age of 101, a ...

Google sorry for adverts alongside extremist content

A top Google executive on Monday apologised after UK company and government adverts appeared alongside extremist content on its Internet platforms. The apology from Matt ...

Export bans hit Brazil's meat industry after scandal

The fallout from Brazil's rotten meat scandal accelerated on Monday when China, a huge client, suspended imports and the European Union demanded a partial ban. ...

Dubai harvests desert sun at vast solar plant

Dubai on Monday completed a solar plant big enough to power 50,000 homes as part of a plan to generate three-quarters of its energy from ...

Germany's 'wise men' reject trade surplus charge

Germany's panel of economic experts on Monday rejected criticism that Europe's biggest economy is running an overly high trade surplus, but said Berlin could reduce ...

Swiss bank UBS to be tried in France over tax fraud

Swiss banking giant UBS will go on trial in France for establishing a wide-ranging tax fraud scheme, legal sources told AFP on Monday. UBS will ...

S. Korea approaches WTO over China economic retaliation

South Korea has approached the World Trade Organisation (WTO) in connection with measures imposed by China over the deployment of a US missile defence system, ...

Australia carrier grounds planes after propeller falls off

A regional Australian airline on Monday grounded six planes from its fleet after a propeller fell off one of them as it approached Sydney airport. ...

South Korea's Lotte family owners go on trial for graft

Four members of the family who control South Korea's troubled retail giant Lotte, including its 93-year-old founder, went on trial Monday for embezzlement, tax evasion ...

Uber president Jones leaves after six months

Ridesharing giant Uber took another hit with the departure of its president, Jeff Jones, after just six months, US media reported on Sunday. Jones' departure ...

Vodafone, Idea tie-up creates India's biggest telecom firm

British mobile phone giant Vodafone will merge its Indian unit with Idea Cellular to create India's largest telecoms operator, the firms said Monday, as they ...

G20 rift divides markets

World equities wobbled Monday after G20 finance ministers failed to renew a longstanding anti-protectionist pledge in the face of US President Donald Trump's "America First" ...

World Bank announces $57 bln in financing for Africa

The World Bank on Sunday announced $57 billion in financing for sub-Saharan Africa over the next three fiscal years. Of that total, $45 billion will ...

Abe, Merkel call for open markets

German Chancellor Angela Merkel and Japan's Prime Minister Shinzo Abe issued a staunch joint defence of free trade Sunday, as the United States pushes towards ...

'Beauty' proves a beast in sales, smashing box-office records

Disney's "Beauty and the Beast" shattered box office records in its opening weekend, taking a monster $175.7 million in North America and $357 million in ...

Saudi Aramco resumes Egypt oil deliveries: ministry

Egypt has received its first two oil shipments from Saudi giant Aramco after deliveries were suspended for several months over political differences, an oil ministry ...

Brazil says exports safe despite rotten meat scandal

Brazil tried to reassure the world Sunday that its huge meat industry poses no threat -- with President Michel Temer even inviting ambassadors to a ...

Adani to begin work on Australia mine by August: report

India's Adani Enterprises says work on a giant coal mine near Australia's Great Barrier Reef will begin in August despite mounting opposition to the long-delayed ...

Ukraine says IMF suspends discussion on fresh handout

Ukraine on Sunday said the International Monetary Fund has postponed a board discussion on disbursing a new $1-billion loan tranche after Kiev cut trade links ...

Badminton gets prize money boost as new tour unveiled

The Badminton World Federation (BWF) on Sunday announced a new tournament structure, with increased prize money, as it looks to raise the sport's profile and ...

Beijing shuts last coal power plant in switch to natural gas

The last large coal-fired power plant in Beijing has suspended operations, with the city's electricity now generated by natural gas, the state news agency reported ...

India hunts hidden cash in corruption blitz

Mansions owned by maids, gardeners and drivers until now have aroused little suspicion in India, where the wealthy have long hidden fortunes in the names ...

Scots weigh economic uncertainty of independent future

The prospects for Scotland's economy after Brexit are at the heart of the battle between its pro-independence first minister and British Prime Minister Theresa May, ...

Inside the deadly world of Venezuela's illegal mines

Barefoot and shirtless in the cavernous belly of an illegal gold mine, Ender doesn't flinch when a piece of rock falls through the darkness and ...

Czech energy group bucks green trend with bet on coal

Bucking a trend set by its European peers to divest from coal, the Czech energy group EPH is buying coal-fired power plants across the continent ...

Plan to nurture African economies unites fractious G20

Ministers from the world's top economies heralded plans to boost development in Africa on Saturday, at an otherwise fractious G20 gathering in Germany. Berlin, which ...

Contentious G20 shows US needs time to 'adapt': Lagarde

IMF chief Christine Lagarde sought to play down fears over the US weakening international commitments to free trade and climate change Saturday, saying the new ...

Stressing free trade, Mnuchin shrugs off G20 outcry

US Treasury Secretary Steven Mnuchin on Saturday shrugged off an outcry over the omission of a long-standing anti-protectionist pledge from a G20 statement, saying language ...

Late US billionaire's record land gift lays Chile row to rest

Douglas Tompkins's widow vividly remembers the suspicions the late billionaire raised when he started buying up land in Patagonia, the natural paradise at the bottom ...

Chelsea Clinton joins expanded Expedia board

Travel service Expedia added to its board the daughter of former US president Bill Clinton and former Democratic presidential candidate Hillary Clinton, according to a ...

S&P upgrades Russia outlook to positive

The Standard and Poor's agency raised its outlook for Russia's credit rating to "positive" from "stable" on Friday, citing improving growth prospects and a lower ...

Former 'Mr Volkswagen' Piech in talks to pull stake

Volkswagen's powerful ex-chairman Ferdinand Piech, credited with its rise from the brink of bankruptcy to world leader status, is in talks to sell his stake ...

Belgium seeks multi-billion F-16 fighter replacement

Belgium on Friday opened a tender for the replacement of its ageing US-built F-16 jet fighter fleet, a contract potentially worth 15 billion euros over ...

US industrial output in February flat, manufacturing gains

Manufacturing output posted its sixth straight increase in February, but unseasonably warm weather again dragged down utilities, keeping total industrial production flat in the month, ...

Troubled Alitalia to slash 2000 jobs

Troubled airline Alitalia on Friday presented trade unions with plans to cut over 2,000 jobs and slash salaries by up to a third under a ...

China blocks Pinterest: censorship watchdogs

Image-curation website Pinterest has become the latest social media service blocked in China, checks on censorship monitoring websites indicated Friday. According to greatfire.org and blockedinchina.net, ...

SWIFT cuts off last N. Korea banks from global finance system

SWIFT, the inter-bank money transfer system, said Friday it has cut off the last North Korean banks on the network, as international pressure mounts on ...

Intel deal may fuel Israel's rise as builder of car brains

Intel's $15-billion purchase of Israeli firm Mobileye could help fuel the country's rise in the driverless car industry -- not as a builder of vehicles, ...

S&P cuts troubled Toshiba's credit rating

Standard & Poor's cut its credit rating on Toshiba again Friday, warning that the troubled company's finances were quickly deteriorating owing to huge losses at ...

C.Americans fear that Trump will cut vital dollar lifeline

Families across Central America are living in fear that US President Donald Trump's anti-immigration policies will stem the vital flow of money sent home by ...

Cathay pledges to slash staff costs after loss

Hong Kong's troubled flagship airline Cathay Pacific said Friday it would slash staff costs by 30 percent as part of a major overhaul as it ...

World Bank indirectly backs harmful SE Asian projects: report

World Bank investments in commercial financial institutions are indirectly allowing land-grabs, evictions and pollution in Southeast Asia, a watchdog group charged in a report Friday. ...

Aluminium giant Rusal doubles profits

Russian aluminium giant Rusal said Friday it had more than doubled net profit in 2016 after selling off one of its refineries. Shares in the ...

US Treasury's Mnuchin, from Wall St to Hollywood to Baden-Baden

Newly-installed US Treasury Secretary Steven Mnuchin, who will make his first international outing at the G20 finance ministers meeting Friday and Saturday, is a banker ...

G20 finance ministers meet as America First casts pall

Finance ministers from the world's top nations gather in Germany on Friday as fears grow of a looming trade war over US President Donald Trump's ...

World stocks rally runs out of steam

World stocks were little changed Friday as a global rally ran out of steam, leaving investors reluctant to place any firm bets ahead of the ...

US issues trade challenge at fraught G20

The United States on Saturday challenged long-standing global principles surrounding free trade, refusing to renew past anti-protectionist pledges and threatening to reopen negotiations on World ...

Assets in Panama banks reach record level despite 'Panama Papers'

Banks based in Panama managed a record level of assets last year -- $121 billion -- despite fallout from the "Panama Papers" scandal, an industry ...

US Treasury halts retirement outlays to stay under debt limit

US Treasury Secretary Steven Mnuchin on Thursday announced his department is suspending contributions to government retirement and disability funds in order to keep the country's ...

Airbus says British corruption probe extended to France

Airbus said on Thursday that a British corruption probe into the aerospace giant had now been extended to France. On August 7, Britain's Serious Fraud ...

Treasury chief in Germany says US not seeking 'trade wars'

US Treasury Secretary Steven Mnuchin, on the eve of his maiden outing with the G20, insisted on Thursday that Washington had no desire to have ...

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