Business

Macron 'inflexible' on opposition to Nokia job cuts

French President Emmanuel Macron on Friday told Finnish Prime Minister Juha Sipila of his "total inflexibility" to plans by telecoms giant Nokia to cut nearly ...

Russia firm unveils 'surveillance-proof' smartphone

For Russians who fear that someone may be eavesdropping on their phone conversations, leading IT entrepreneur Natalya Kaspersky says she has a solution. At a ...

ThyssenKrupp steelworkers protest against Tata tie-up

Thousands of steelworkers hit the streets of Bochum in western Germany on Friday in opposition to industrial conglomerate ThyssenKrupp's plans to merge its steel division ...

Russia floats out powerful nuclear icebreaker

Russia on Friday held a launching ceremony for a powerful nuclear icebreaker, called Sibir (Siberia), in its drive to prepare a fleet for navigating the ...

British PM proposes two-year transition period after Brexit

Prime Minister Theresa May on Friday outlined plans for a transition period of around two years after Brexit during which Britain would continue paying into ...

Carmakers face billions in European CO2 fines from 2021: study

Big-name carmakers including Volkswagen and Fiat Chrysler face fines running into the billions for failure to meet tough new European carbon dioxide emissions limits slated ...

French labour reforms: what's going to change?

French President Emmanuel Macron on Friday made good on a central campaign vow to overhaul the country's complex labour code, overriding objections from some trade ...

Uber loses licence to operate in London

London transport authorities said Friday they would not renew Uber's licence to operate in the city when it expires, due to public safety concerns, although ...

Eurozone private business growth picks up: PMI

Business activity across the eurozone picked up in September, a key survey showed Friday, growing by the fastest monthly rate since since May and showing ...

Global crisis? Not on his Milan runway, says Armani

The world is a bit of a mess at the moment -- facing a string of natural disasters and potentially some manmade ones -- but ...

Uber loses licence to operate in London: authorities

London transport authorities announced Friday they would not renew Uber's licence to operate in the city when it expires on September 30 over public safety ...

Budget airlines to drive plane demand in next 20 years: Boeing

Smaller planes will dominate aviation orders worldwide in the next 20 years, driven by the needs of budget airlines in emerging markets like Southeast Asia, ...

France's Macron enacts contested labour reforms

President Emmanuel Macron on Friday signed sweeping changes to France's complex labour code into law, ramming through a landmark reform four months into his administration ...

Australia's Fairfax Media to float lucrative property ad arm

Fairfax Media's shareholders are set to vote on spinning off its lucrative property advertising division, the Australian publishing giant said Friday. Like its international peers, ...

Difficult NAFTA round three set to start in Canada

The third round of talks on revamping NAFTA, which start Saturday in Ottawa, are expected to be punishing as diplomatic tensions mount. Over the course ...

China hits back at S&P's 'mistaken' credit downgrade

China on Friday lashed out at the decision by Standard & Poor's to downgrade the country's credit rating, calling the warning against ballooning debt "mistaken" ...

S&P lowers Hong Kong credit rating following China cut

Standard & Poor's on Friday slashed Hong Kong's top-notch credit rating, a day after lowering China's, warning of potential spillover risks the mainland's ballooning debt ...

Poverty in paradise: The dark side of Indonesia's new tourism hope

A tableau of white sandy beaches, colourful coral reefs and turquoise water, the islands of Raja Ampat are set to be Indonesia's next tourism hotspot ...

Fly me to the Moon: For some, lunar village takes shape

By 2040, a hundred people will live on the Moon, melting ice for water, 3D-printing homes and tools, eating plants grown in lunar soil, and ...

European stocks higher; L'Oreal enjoys lift

European stock markets rose Friday heading into the weekend pause, with Paris boosted by a strong rise in L'Oreal's share price. Asian stock markets turned ...

Russia keen on more OPEC cooperation

Russia's energy minister said Friday that he was in favour of continuing cooperation with the OPEC oil cartel as their joint accord to cap output ...

UK banks to check immigration status from January: govt

UK banks will start carrying out immigration checks on all account holders from January, part of a crackdown on those in the country illegally, the ...

Facebook to give Russian ads to Congress, boost transparency

Facebook chief executive Mark Zuckerberg said Thursday Russia-linked ads on the huge social network aimed at inflaming tensions around last year's US presidential election will ...

Mnuchin says firms must choose between business with US or North Korea

US Treasury Secretary Steven Mnuchin said Thursday that firms around the world must now choose between doing business with the United States or North Korea, ...

Liliane Bettencourt, billionaire beset by legal drama

French tycoon Liliane Bettencourt, the world's richest woman, sat atop the L'Oreal empire and ran a philanthropic foundation, but faced an old age clouded by ...

Hack of US regulator a blow to confidence in financial system

The hack disclosed at the US Securities and Exchange Commission deals a fresh blow to confidence in the security of the financial system weeks after ...

Mercedes pumps 1 bln euros into US e-car plant

German luxury carmaker Mercedes-Benz said Thursday it would invest $1 billion in an Alabama factory as it prepares for electric vehicle production in the United ...

World's richest woman Liliane Bettencourt dies aged 94

L'Oreal heiress Liliane Bettencourt, the world's richest woman whose old age was clouded by dementia, has died at the age of 94, her family said ...

US CEO sees bonus pay cut after ugly rant at comedian Kathy Griffin

US homebuilder KB Home cut the bonus pay of its chief executive following a sexist, expletive-filled rant against controversial comedian Kathy Griffin, the company said ...

Siemens stock gains on reports of rail tie-up schemes

Shares in German industrial giant Siemens were boosted Thursday by swirling rumours that it was in talks with France's Alstom and Canada's Bombardier about combining ...

Lucky Luke fastest to draw for French publisher

French publisher La Martiniere said Thursday that it was in merger talks with the Belgium-owned media giant behind the "Lucky Luke" comics. Its founder Herve ...

IMF says Macron reforms crucial for French growth

The government of French President Emmanuel Macron needs to make good on its reform promises if it wants a shot at boosting growth durably, the ...

Fendi's Milan show finds a happy place in the sun

Karl Lagerfeld chanelled tropical chic on Thursday, unveiling a collection that was all see-through and skin with colours cool enough to soothe your sunburn. The ...

World's cereal production headed for a record in 2017: FAO

The world's cereal production is headed for a bumper 2017, with total output on track for a record, the United Nation's food agency said Thursday. ...

China's debt downgraded by second ratings agency

Standard & Poor's slashed China's credit rating on Thursday over warnings that its ballooning debt had raised "economic and financial risks", marking the country's second ...

Commerzbank shares soar on government sell-off rumours

Shares in Germany's second-largest lender Commerzbank leapt Thursday as rumours that the government might soon sell off its stake set financial circles abuzz. The bank's ...

Global trade 'rebounds strongly' in first half of 2017: WTO

The World Trade Organization on Thursday boosted its forecast for global trade growth in 2017 as commerce rebounded strongly, but cautioned that major threats could ...

S&P cuts China's debt rating over 'financial risks'

Standard & Poor's slashed China's credit rating on Thursday, warning that a prolonged period of debt growth had raised "economic and financial risks". S&P, which ...

US financial regulator says it was hacked in 2016

The US Securities and Exchange Commission was the victim of a hacking attack in 2016 and the perpetrators may have been able to profit from ...

Lufthansa chief eyes up to 78 Air Berlin planes

The chief of Germany's largest airline Lufthansa has said he hopes to buy up to 78 planes from bankrupt Air Berlin, dismissing fears the insolvency ...

Tech dreams live or die on startup battlefields

Fearing failure but driven by a chance at Silicon Valley stardom, young entrepreneurs pitch their dreams in mere minutes at startup competitions like TechCrunch Disrupt ...

Google to buy part of Taiwan smartphone maker HTC for $1.1 bn

Taiwan's struggling smartphone maker HTC said on Thursday it would sell part of its smartphone business to Google for $1.1 billion as the US giant ...

Iraq's Kurds in economic crisis ahead of independence vote

A referendum on independence for Iraqi Kurdistan set for September 25 comes as the autonomous region faces the worst economic crisis in its short history. ...

Bank of Japan pushes on with stimulus as Fed eyes rate hike

Japan's central bank pressed ahead with its ultra-loose monetary policy Thursday on the back of an improving economy, as its overseas counterparts start turning off ...

Google to buy part of smartphone maker HTC for $1.1 billion: Taiwan firm

Taiwan's struggling smartphone maker HTC said Thursday it was selling part of its smartphone business to US technology giant Google for $1.1 billion. The deal ...

Landmark EU, Canada trade deal enters into force

A landmark free trade deal linking EU and Canada went into effect on Thursday despite lingering opposition from activists worried about the pact's consequences on ...

Pilgrims bring boom times for Iraqi gem traders

Every time Mohammed al-Ghoraifi visits Najaf he returns with another precious stone on his finger. Like for many pilgrims visiting the Iraqi Shiite holy city, ...

Dow streak of records ends; European banks gain

The Dow's streak of seven straight records ended Thursday amid profit taking and anxiety over tightening Federal Reserve policy, as gains by banks lifted markets ...

French investigators question three in Lafarge Syria scandal

Three former employees with cement giant Lafarge have been interviewed by French investigators about claims the firm indirectly paid armed groups, including the Islamic State ...

Lions rugby tour boosts New Zealand economy

New Zealand's economy grew 0.8 percent in the April-June quarter partly due to a tourism boost from the British and Irish Lions rugby tour, official ...

Toshiba shares drop as battle over $18bn chip unit sale looms

Toshiba shares fell Thursday as it faced a court battle over the $18 billion sale of its prized memory chip business, a deal seen as ...

Australia's CBA sells life insurance arm to AIA for $3.0 bn

Australia's biggest bank announced a major shake-up Thursday, offloading its Australian and New Zealand life insurance business to AIA for Aus$3.8 billion (US$3.0 billion) while ...

Nest looks to shake up home security

Nest on Wednesday set out to shake up the home security market, unveiling an internet-age alarm system. A unit of Google-parent Alphabet, Nest was founded ...

GE to sell corporate jets in cost-cutting move

General Electric plans to sell its corporate jets in a cost-cutting move amid sluggish activity in key industrial divisions, a spokesperson said Wednesday. "As we ...

Apple shares slip on smartwatch reviews

Apple shares slipped Wednesday after mixed reviews of its latest smartwatch and amid concerns pre-orders of coming iPhone 8 models were lagging. Apple Watch Series ...

US music industry soars as streaming hits 30 million

The US music industry on Wednesday reported soaring growth in the first half of the year as streaming subscriptions reached 30 million and long-sagging CD ...

Google likely to buy stake in Taiwan smartphone maker HTC: report

Google is set to announce it is buying part of Taiwan-based smartphone maker HTC, the Wall Street Journal reported Wednesday. The deal for HTC's smartphone ...

US Fed's Yellen says has not met with Trump to discuss status

Federal Reserve Chair Janet Yellen said Wednesday she has had no further meetings with US President Donald Trump on whether she will stay on as ...

US Federal Reserve keeps interest rates unchanged

The US Federal Reserve kept its benchmark interest rate unchanged Wednesday and announced the gradual end to a crisis-era stimulus program in a sign the ...

Zara owner Inditex says strong euro hit first half results

Spain's fashion retail giant Inditex, owner of popular brand Zara, said its first half net profit rose 9.0 percent but the results were eroded by ...

Food labeling pact aims to cut food waste

Many of the world's largest retailers and food companies have agreed to better labeling of products by 2020 in a bid to radically cut food ...

Ryanair reassigns flights for half of affected customers

Irish low-cost airline Ryanair has allocated replacement flights for more than half of the customers whose trips were cancelled late last week, it said Wednesday. ...

US existing home sales in August lowest in a year

Sales of US existing homes fell to the lowest level in a year in August as low inventories left many would-be buyers unable to purchase, ...

IMF's Lagarde warns US won't meet growth targets amid slow reforms

IMF chief Christine Lagarde warned Wednesday that the US will fall short of its ambitious economic growth goals unless it can accelerate promised policy changes, ...

Dockless bike-share hits US capital, following craze in China

Dockless bike-sharing, a trend which has taken China by storm, arrived in the US capital Wednesday with the launch of new services aimed at promoting ...

'Overwatch' eSports league to debut in December

Activision Blizzard announced Wednesday its "Overwatch" eSports league -- cashing in on the rise of video gaming as a spectator sport -- would make its ...

Toshiba says sells chip unit to Bain Capital for around $18 bn

Toshiba said Wednesday it would sell its memory chip business to a group led by US investor Bain Capital, in a deal worth around $18 ...

Big Bangs theory: In Milan, Gucci goes back to the 80s

Gucci's Alessandro Michele unveiled on Wednesday a loud and proud ode to the 1980s on the opening day of the latest Milan Fashion Week, with ...

From feta to CETA: key facts about EU-Canada deal

After seven years of negotiation, a controversial free trade deal between the European Union and Canada goes into effect on a provisional basis this Thursday. ...

Germany's EON close to selling fossil-fuels stake

German energy giant EON on Wednesday said it was in "advanced negotiations" to sell its remaining stake in fossil-fuels spinoff Uniper to Finland's Fortum Oyi. ...

EU seeks post-Brexit powers over foreign finance firms

The EU on Wednesday unveiled plans for sweeping new powers over foreign financial firms in Europe that would give the bloc strict oversight over the ...

UK retail sales shrug off Brexit-fuelled inflation

British retail sales defied rising prices caused by Brexit to surge by a faster-than-expected 1.0 percent in August, the Office for National Statistics said on ...

OECD warns global recovery not yet secure

The rebound in global growth is not yet secure, the OECD warned Wednesday, with weak investment by businesses and slow growth in trade and wages ...

ThyssenKrupp-Tata steel merger sets scene for jobs battle

German heavy industry giant ThyssenKrupp and Indian group Tata agreed Wednesday to merge their steel operations in Europe, sending governments and unions scrambling to ward ...

Australia court delays $6.9 bn merger of gambling giants

An Australian court Wednesday dealt a blow to a planned Aus$8.6 billion (US$6.9 billion) merger of gambling giants Tabcorp and Tatts, ordering a review of ...

Obama begins lucrative turn as Wall Street speaker

Barack Obama has begun cashing in on his time in the White House with paid Wall Street speeches less than a year after leaving office, ...

ThyssenKrupp, Tata to merge European steel operations

German heavy industry giant ThyssenKrupp and Indian group Tata agreed on Wednesday to merge their steel operations in Europe, taking second place in the continent's ...

Airbus opens first plane-completion centre in China

Airbus on Wednesday inaugurated its first completion centre for large aircraft in China, a new asset for the European manufacturer in heated competition with American ...

Israeli firms seek hi-tech help -- in Gaza

When Dan Leubitz needed a contractor for a project with his Israeli tech firm, one address in the list of tenders caught his eye: Gaza. ...

The godfather of eco-bling: Brando's Tahitian paradise

An exotic island paradise in French Polynesia bought by Marlon Brando in the sixties is using its Hollywood image to tackle environmental issues -- with ...

Humble bicycle back in vogue in Cuba

The humble bicycle is gradually shedding its grim association with Cuba's economic crisis that followed the fall of the Soviet Union, and making a comeback ...

Against rising headwinds, UK pushes ahead with nuclear projects

Under pressure from Brexit and the declining costs of renewable energy, Britain's nuclear industry is increasingly relying on supportive government policy to plough on with ...

China rises at Frankfurt car show

Traditional heavyweights Fiat, Peugeot and Volvo may have shunned this year's Frankfurt auto show (IAA), but for Chinese and Taiwanese carmakers looking to make inroads ...

Escaping disillusion: The skilled youth quitting Turkey

When Dilara left Turkey for Dubai five years ago, her friends said she'd made a mistake. The economy was flourishing, the cultural scene was vibrant ...

Hot new talent to light up Milan Fashion Week

Fashion week roars into Milan on Wednesday with hotly anticipated shows from fresh talent as well as from luxury titans including Moschino and Armani, who ...

Spain takes control of Catalonia's finances to block referendum

Spain has taken control of Catalonia's finances to prevent funds being used for an independence referendum it deems illegal, a move that limits the region's ...

Dollar rallies after Fed keeps alive December rate hike

The Dow edged to another record and the dollar rallied Wednesday after the Federal Reserve kept alive the chance of a December interest rate increase. ...

US Fed to announce stimulus drawdown, let rates stand

The US central bank is expected to keep interest rates steady and announce the end of a post-financial crisis economic stimulus program following a two-day ...

Britain, Saudi Arabia sign military cooperation deal

Saudi Arabia and Britain signed a framework deal for military cooperation, Saudi state media said on Tuesday, just two days after Gulf rival Qatar signed ...

Strong exports push Japan trade balance back to surplus

Japan's trade balance returned to surplus in August as exports rose 18 percent year-on-year on brisk shipments of automobiles and electronic parts, the government said ...

Britain to promise 20 billion euros in Brexit bill: FT

British Prime Minister Theresa May will promise to pay a Brexit divorce bill of at least 20 billion euros (£18 billion, $24 billion), the Financial ...

US stocks edge to fresh records ahead of Fed decision

Wall Street stocks edged to fresh records Tuesday ahead of a Federal Reserve decision expected to announce the end of a post-financial crisis economic stimulus ...

Threatened Amazon reserve already being mined: Greenpeace

A huge nature reserve in Brazil's Amazon rainforest that the government wants to open to foreign mining companies already suffers from illegal mining activity, Greenpeace ...

Equifax says 100,000 Canadians' data hacked

The personal information of 100,000 Canadians may have been compromised in a hack of Equifax revealed earlier in the month, the credit data company said ...

US CEOs optimistic on economy, tax reform: survey

Large US companies remain upbeat on hiring and capital spending, due in part to continued confidence that Washington will enact tax reform, the Business Roundtable ...

Twitter touts victories in war on extremist content

Twitter on Tuesday touted victories in the battle against tweets promoting extremist violence, saying it has been vanquishing those kinds of accounts before governments even ...

Harvey weighs on new US homebuilding in August

New US homebuilding slowed in August for the second straight month, driven down by Hurricane Harvey and a continuing drop in apartment construction, according to ...

High-flyer Michael O'Leary: A no-frills business success

Speak of Ryanair and one immediately thinks of Michael O'Leary -- the long-standing head of the Irish no-frills airline who is widely known for his ...

Saudi Arabia raises $1.87 bn in Islamic bond issue

Saudi Arabia has raised $1.87 billion in a new Islamic bond issue as the kingdom bids to finance a budget deficit resulting from low oil ...

Beijing, Shanghai shut down bitcoin exchanges: media

Banking regulators in Beijing and Shanghai have ordered local cryptocurrency exchanges to shut down, state media reported Tuesday, in the latest blow to the once ...

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