Business

Portuguese private bank hikes capital, Chinese stake rises

Portugal's biggest private bank, BCP, on Monday announced a share sale of 1.33 billion euros ($1.41 billion) and said purchases by Fosun Industrial Holdings would ...

Toyota to invest $10 bil in the United States

Toyota will invest $10 billion in the United States over the next five years, the company said Monday at the annual Detroit auto show. The ...

Detroit auto show kicks off with trade plea to Trump

Auto executives rushed to offer fresh evidence of US investments at the start of the Detroit auto show on Monday, amid pressure from President-elect Donald ...

Tunisia seeks buyers after record orange harvest

Tunisia is desperately looking for orange lovers after a bumper harvest of 550,000 tonnes of the fruit half of which could be destroyed if there ...

Pledged OPEC cuts encouraging: Kuwait

Kuwaiti Oil Minister Essam al-Marzouk, whose country heads a committee to monitor crude output cuts, on Monday described as encouraging production reductions announced so far. ...

Volkswagen facing UK legal action over Dieselgate

Thousands of car owners in Britain have signed up to a collective legal action against German carmaker Volkswagen over the emissions-cheating "Dieselgate" scandal, lawyers said ...

Panama Papers come back to haunt Iceland politics

The Panama Papers came back to haunt Iceland's right-wing parties Monday as they prepare to form a new government, after the candidate for prime minister ...

Mercedes reclaims luxury pole position over BMW

German carmaker Mercedes-Benz overtook homegrown rival BMW to deliver the most luxury vehicles of any manufacturer in 2016, sales figures released Monday showed. The Stuttgart-based ...

Arrested VW executive to appear in US court

A former Volkswagen executive arrested on conspiracy charges in the "dieselgate" emissions-cheating scandal, will be arraigned Monday, a US Justice Department spokesman confirmed. Oliver Schmidt, ...

Egyptians throw parties to save in 'money pools'

As belly dancers sway to the music of an Egyptian band playing at a young girl's birthday party, the guests count their cash to add ...

The future of car tech: getting to know you

The car of the future doesn't just want to drive you. It wants to know you. The automotive technology showcased at the Consumer Electronics Show ...

Volkswagen to recall around 50,000 cars in China

German carmaker Volkswagen will recall almost 50,000 vehicles in China due to brake problems when using cruise control, according to the country's quality regulator. The ...

Cities vie to hop on super-speedy hyperloop rail

US startup Hyperloop One disclosed a list of locations around the world vying to put near-supersonic rail transit system to the test. The startup company ...

China forex reserves fall by $320 bln in 2016

China's foreign exchange reserves fell by $320 billion last year, Beijing announced Saturday, as authorities sought to support the yuan against a soaring dollar which ...

Virtual reality seeks momentum at CES gadget gala

Virtual reality sought its stride Friday at the Consumer Electronics Show, where despite being a hot topic there was little sign it is racing into ...

Fiat avoids Trump wrath, but Mexico imports coming soon

Fiat Chrysler so far has escaped the wrath of President-elect Donald Trump's Twitter feed, but the automaker is due to start importing models from Mexico ...

Mexico slams 'threats' against investors

Mexico's economy ministry, in an apparent reference to US President-elect Donald Trump, rejected on Friday any threats made to deter companies from investing in the ...

VW near $2 bn US criminal settlement in 'dieselgate': report

Volkswagen is close to a deal to pay $2 billion to settle a US criminal investigation into the emissions-cheating scandal involving its diesel cars, the ...

China takes global lead in clean energy

China's overseas investment in renewable energy projects jumped last year by 60 percent to a record $32 billion (30 billion euros), marking its leadership in ...

Boeing's deliveries, orders fell in 2016

Boeing said Friday its deliveries of commercial planes fell modestly in 2016 and it saw fewer orders compared to 2015. The US aerospace giant delivered ...

Amazon Alexa virtual assistant shines at tech show

Amazon's virtual assistant Alexa is emerging as one of the big winners at this year's Consumer Electronics Show, cropping up in TVs, cars, fridges -- ...

Canada posts first trade surplus in more than 2 years

Canada on Friday posted its first trade surplus in more than two years, driven by record exports to countries other than the United States. The ...

India GDP growth to slow to 7.1 percent amid cash crunch

India's government said Friday that the economy would grow by 7.1 percent in the financial year ending in March, slower than the growth registered during ...

US factory orders end four-month winning streak

New orders for US manufactured goods fell in November on a sharp decline in aircraft sales, ending a four-month streak of increases, the Commerce Department ...

US job gains in December show solid labor market

US job growth slowed in the final month of 2016, but low unemployment and millions of jobs added last year point to a robust labor ...

EasyJet lifts passenger numbers to record

Budget carrier EasyJet said Friday it transported a record 74.5 million passengers last year thanks to low oil prices and full planes, but it slipped ...

German industrial orders fall back in November

German industrial orders fell in November, official data showed Friday, but analysts remained confident that Europe's largest economy would see a rebound in growth after ...

India's Tata calls for final meeting to oust ex-chairman Mistry

India's salt-to-steel conglomerate Tata Sons Friday cranked up its legal tussle with ousted chairman Cyrus Mistry by calling for a shareholders' meeting to remove him ...

Forecasting 'in crisis' after Brexit vote: BoE chief economist

Economic forecasting "is to some degree in crisis", the Bank of England's chief economist has said after it misjudged the fallout from Britain's vote in ...

Renault-Nissan doubles down on autonomous cars

Renault-Nissan chief Carlos Ghosn told a tech gatheringthe automaker is committed to self-driving cars, as he unveiled a series of initiatives to advance the technology. ...

China's Huawei sets high goal for US, global market

The top executive of number three smartphone maker Huawei on Wednesday laid out an ambitious agenda for the US and global markets, brushing aside political ...

US stocks hit records as Dow flirts with 20,000 points

US stocks finished the week on a strong note with both the S&P 500 and Nasdaq closing at new records, bolstered by strong gains by ...

Toyota target of Trump's latest Twitter broadside

Toyota shares slumped Friday as Donald Trump threatened punitive tariffs over its new vehicle plant in Mexico, triggering a staunch defence from Japan's government which ...

Samsung Electronics expects profits to leap 50%

Samsung Electronics said Friday it expects profits to soar by nearly 50 percent in the December quarter, as strong memory chip prices push earnings to ...

Baidu family robot a Chinese spin on Amazon Echo

Chinese internet colossus Baidu is out to make a splash with 'Little Fish,' a family robot that is a voice-controlled virtual valet akin to Amazon ...

Portugal's BPI cedes control of Angola's top bank

Portugal's BPI bank on Thursday ceded control of Angola's top lender to a telecoms company run by Isabel dos Santos, daughter of the country's president ...

Bank of Cyprus repays 11.4 billion euros in emergency funds

Bank of Cyprus, the Mediterranean island's largest lender, Thursday announced it had paid back in full the 11.4 billion euros in Emergency Liquidity Assistance it ...

Trump threatens Toyota over Mexico factory plans

US President-elect Donald Trump on Thursday threatened Toyota with import taxes for building cars in Mexico, making the Japanese automaker the latest company to face ...

Mexican central bank props up peso

The Mexican central bank propped up the peso on Thursday, intervening in the foreign exchange market after US automaker Ford's decision to scrap a new ...

US services sector steady in November

Growth in the massive services sector of the US economy held steady in December, matching the brisk pace recorded in November, the Institute for Supply ...

US jobless claims plunge, private hiring slows in December

US initial claims for unemployment insurance plunged in the final week of 2016, while private-sector firms hired at a slower pace in December, according to ...

Qatar Airways confirms change to Airbus plane order

Qatar Airways has renegotiated an order with Airbus to take delivery only of larger A321 planes, not A320s as originally planned, the Gulf carrier's chief ...

Iraq cuts oil production per OPEC deal

Iraq has cut crude production by some 200,000 barrels per day as part of an OPEC oil cartel agreement aimed at boosting flagging prices, the ...

UK car sales hit record high before bumpy 2017: data

Sales of new cars in Britain reached a record high last year, an industry survey showed Thursday, but 2017 was set to experience a growth ...

China's Alibaba sues vendors over selling counterfeits

Chinese e-commerce giant Alibaba has filed a lawsuit against two vendors for allegedly selling counterfeit goods, it said, weeks after the US put its main ...

Hyundai eyes autonomous cars for the masses

Hyundai's Ioniq draws little attention as it maneuvers the streets of Las Vegas. The mid-sized sedan is one of a number of autonomous cars roaming ...

China's TCL out to revive BlackBerry smartphones

Chinese electronics company TCL Corporation was at CESwith a plan to revive BlackBerry handsets knocked from the mobile phone throne by Apple and Google. TCL ...

Deutsche Bank to pay $95 million to settle US tax fraud case

Deutsche Bank, Germany's biggest bank, has agreed to pay $95 million to settle a tax fraud case brought by the US Justice Department, the federal ...

Work email overload: can the law lead a fightback?

Beatrice, a busy 50-year-old manager at an airline in Paris, sounds like she would benefit from France's new "right to disconnect" law that guarantees all ...

Bitcoin: some key questions

The value of bitcoin surged above $1,100 on Thursday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. ...

China's Huawei adds Amazon Alexa to flagship phone

Chinese tech giant Huawei is adding Amazon's artificial intelligence application Alexa to its flagship smartphone for its US launch. The number three global smartphone brand, ...

'Safe haven' Bitcoin retreats after shot at all-time high

Bitcoin plunged Thursday only hours after investors, tipping the volatile digital currency to become a safe haven in an uncertain world economy, pushed it near ...

Japan's 'Tuna King' wins annual auction for $636,000

Japan's self-styled "Tuna King" has done it again -- paying more than $600,000 for a single fish. Sushi entrepreneur Kiyoshi Kimura paid top price at ...

Dollar falls as China, Mexico move to boost currencies

The dollar retreated Thursday against other leading currencies after Chinese and Mexican officials took steps to strengthen their currencies. Foreign exchange markets were in focus ...

Detroit auto show comes amid uncertain Trump future

The automotive world descends on Detroit this weekend for the annual auto show, which will highlight rapidly-evolving technology, but comes amid an uncertain climate following ...

Mexico faces tough Trump era after Ford scraps plant

Mexico got a potential taste of life under Donald Trump's incoming presidency after Ford abruptly canceled plans to build a new factory in the country. ...

BMW to deploy 40 self-driving cars in US, Europe

BMW Group says it will deploy 40 self-driving vehicles for tests in the United States and Europe. The German auto group made the announcement jointly ...

Slumping Macy's to cut up to 10,100 jobs in US

Macy's unveiled plans Wednesday to cut as many as 10,100 jobs as the iconic US retailer closes stores and downsizes following another disappointing holiday sales ...

Mexican leader defends fuel price hike

Mexican President Enrique Pena Nieto defended on Wednesday a steep increase in gasoline prices but said he understood people's "anger" against the measure, as protests ...

US oil industry chief calls for more offshore access

The US oil industry's main lobbyist called Wednesday for expanded offshore oil and gas production, delivering a plea for deregulation two weeks before the inauguration ...

Boeing gets $8.25 bn order from GE plane leasing arm

Boeing won a contract to supply 75 single-aisle 737 Max 8 planes to General Electric's airplane leasing arm worth $8.25 billion at current listed prices, ...

Citing Trump 'uncertainty,' Fed says faster rate hikes possible

US central bankers say they may need to raise interest rates faster than planned due to "considerable uncertainty" linked to Donald Trump's fiscal stimulus plans, ...

TVs grab spotlight at CES gadget gala

LG Electronics showed off a "wallpaper" thin television as TV makers vied for the spotlight ahead of the Consumer Electronics Show officially opening on Thursday. ...

Tesla starts mass production of batteries

Tesla Motors announced Wednesday that it has begun mass production of energy-saving batteries that it vows will take electric cars mainstream. "Today at the Gigafactory, ...

Ryanair carries record 117m passengers in 2016

Irish budget airline Ryanair carried a record 117 million passengers in 2016, an increase of 15 percent on the previous year, a spokesman said Wednesday. ...

US car sales set new record in 2016

The US consumer buoyed carmakers to a big finish in 2016, with strong December figures released Wednesday putting total sales for the year over the ...

Global debt surges in 2016, faces rising interest: IIF

Global debt surged in the first nine months of 2016 to 325 percent of GDP, and debtors now face the burden of rising interest rates ...

Carnival turning cruise ships into 'smart cities' at sea

Leisure travel colossus Carnival Corporation is putting a spin on technology used at Disney World to turn cruise ships into what it bills as smart ...

Norway nets record salmon sales in 2016

Norway made a record amount on its salmon sales last year, helping to partially offset a drop in oil revenues, the main engine of the ...

Gulf stock listings nosedive in 2016: report

Stock markets in the energy-rich Gulf saw a sharp drop in the number of initial public offerings in 2016, as well as the value of ...

2016 saw best German car sales this decade

Carmakers sold more vehicles in Germany in 2016 than in any year since 2009, figures released by the German Association of the Automotive Industry (VDA) ...

Spain's jobless queue shrinks in 2016

Spain's jobless queue shrank sharply last year, dropping by 9.5 percent, the labour ministry said Wednesday, as unemployment continues to recede from the record highs ...

Italy sees annual deflation for first time since 1959

Italian consumer prices fell in 2016, the first year of deflation since 1959, official data published Wednesday showed. Prices slipped by 0.1 percent last year ...

Shares in Next, UK clothing groups slump on price warning

British clothing retailer Next on Wednesday warned of a tougher trading year ahead as a weak pound caused by Brexit uncertainty pushes up raw material ...

Natural disaster damage hits 4-year high: Munich Re

Natural disasters including storms and earthquakes caused $175 billion of damage in 2016, German reinsurance giant Munich Re said Wednesday, the highest level since 2012. ...

Eurozone inflation jumps to 1.1%, highest since 2013

Inflation in the eurozone jumped in December to the highest level in more than three years on the back of surging oil prices, official EU ...

Eurozone economy hits near 6-year high: survey

Eurozone business activity hit its highest rate since May 2011 in December but the outlook remains hostage to political developments, a closely watched survey showed ...

Tillerson severing ties with Exxon, sets up trust fund

Secretary of State-designate Rex Tillerson has agreed to sever all ties with Exxon Mobil, putting deferred stock awards in an independently managed trust, the company ...

Electric car startup unveils 'new species' of vehicle

Faraday Future, the secretive electric car startup with ambitions to overtake Tesla, unveiled its first production vehicle, proclaiming it to be a "new species" for ...

Global launch by Huawei of new mid-range smartphone

Chinese electronics giant Huawei announced a global launch of its mid-range Honor 6x smartphone which includes dual-lens camera technology and is aimed at young consumers. ...

Scratching a living in Myanmar's storied 'land of rubies'

Every week Aye Min Htun prays he will find the ruby that changes his life, one of thousands of people scratching a living in Myanmar's ...

Spain's banks recover but toxic assets remain

Hit by a severe crisis several years ago, Spain's banking sector has recovered but at a cost as thousands are laid off and it struggles ...

A trip to the land of endangered ancient olive trees

The sun sets in eastern Spain and dozens of ancient olive trees cast long shadows on the ground. Once dug up and sold as luxury ...

US stocks gain as Fed mulls faster rate hikes

Wall Street stocks won solid gains Wednesday while European markets were little changed as Federal Reserve policymakers signaled they could hasten US interest rate increases. ...

Tech spending to slip in world of political uncertainty

Global spending on consumer technology is expected to slip this year due to factors including a strong US dollar and political uncertainty prompted by Brexit ...

Chrysler's new tech-rich concept car aims young

Fiat-Chrysler on Tuesday unveiled a concept car designed for Millennials: an electric-powered minivan with modular components that can be adapted for autonomous driving. The Chrysler ...

Mexico warns fuel price protests risk supplies

Mexican state-run energy firm Pemex called on protesters on Tuesday to stop blocking gasoline stations and attacking pipeline workers, warning that it could hit supplies. ...

Tokyo shares start 2017 on higher note

Tokyo shares opened higher Wednesday on the first trading day of 2017, following gains on Wall Street driven by optimism about the US economy. The ...

Tesla production surges 64%; misses 4th quarter delivery target

Electric carmaker Tesla said Tuesday production last year surged 64 percent compared to 2015, but the company missed its delivery target for the final three ...

Lenovo launches 'home assistant' with Amazon Alexa

Chinese tech giant Lenovo announced Tuesday it was launching a smart home assistant powered by Amazon's Alexa, becoming the latest firm to enter the market ...

British Airways cabin crew announce 48-hour walkout

A group of British Airways cabin crew on Tuesday announced a 48-hour walkout for later in January, in an ongoing pay dispute which saw the ...

US manufacturing growth picks up in December: ISM

US manufacturing posted the fourth straight month of faster expansion in December as new orders and output jumped, pointing to a growing economy, the Institute ...

Schiaparelli rises from fashion death to Paris haute couture

Fashion label Schiaparelli completed its remarkable resurrection Tuesday when it was inducted into the elite ranks of Paris haute couture houses. The historic brand founded ...

Automakers in headlights as Trump set to take the wheel

US automakers found themselves in the political hot seat Tuesday, with President-elect Donald Trump lambasting GM for importing Mexican-made cars into the United States and ...

Energy powers eurozone inflation but growth elusive

Official data showed inflation advancing in major eurozone economies Germany, France, and Spain on Tuesday, but analysts warned that a return to healthy price rises ...

US construction spending picks up speed in November

US construction spending picked up in November, reaching the highest level since April 2006 -- well before the onset of the financial crisis, the Commerce ...

Turkey lira crashes to historic low on security, inflation

Turkey's embattled currency the lira on Tuesday crashed to a new historic low against the US dollar due to higher-than-expected inflation figures and security worries ...

Energy prices power German inflation to 3-year high

Inflation in Germany, Europe's largest economy, hit its highest level in more than three years in December, beating analyst expectations, official data showed on Tuesday. ...

Fincantieri chosen as preferred bidder for S. Korea's STX French unit

A South Korean court handling the bankruptcy of STX Offshore and Shipbuilding Co. said Tuesday that Italian shipbuilder Fincantieri had been named preferred bidder for ...

Iran okays 29 companies for oil and gas projects

Iran has published a list of 29 major companies from Europe and Asia approved to bid for oil and gas projects after the lifting of ...

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