Business

Tainted egg scandal sparks political row in Germany

A German state minister charged Wednesday that over three times more eggs contaminated with the insecticide fipronil had entered the country than the national government ...

Trump renews attack on Amazon, claiming 'jobs lost'

President Donald Trump on Wednesday lashed out at Amazon, claiming the US online colossus is doing "great damage" to other retailers and destroying jobs. Trump, ...

US new home construction slows in July

Homebuilding in the United States slowed in July, in large part due to a drop in construction of apartment buildings, the government reported Wednesday. The ...

Germany's Flixbus rescues train start-up Locomore

Germany's leading long-distance bus operator Flixbus on Wednesday said it had joined forces with a Czech company to rescue the crowd-funded rail start-up Locomore and ...

Fiat joins BMW-led group to develop driverless cars

Italian-American automaker Fiat Chrysler on Wednesday said it was joining a BMW-led group to develop fully self-driving vehicles, the latest tie-up in an industry racing ...

AkzoNobel buries hatchet with shareholder over PPG takeover

Dutch paintmaker AkzoNobel said Wednesday it has buried the hatchet with a key shareholder in a long-running spat over a planned takeover by US-based chemical ...

Italy enjoys best annual economic growth since 2011

Italy posted Wednesday its best annual economic growth figures since 2011 with its gross domestic product outdoing official forecasts to grow 1.5 percent on an ...

S&P says won't downgrade Brazil credit ratings -- for now

International credit rating agency Standard and Poors said Wednesday that it has decided not to downgrade Brazil's sovereign ratings for the time being, but may ...

UK unemployment rate hits lowest level since 1975

Britain's unemployment rate has struck a new 42-year low, official data showed Wednesday, as the uncertainty of Brexit boosts temporary hirings. The rate dipped to ...

Carlsberg crafts profit rise with premium beers

Carlsberg said Wednesday it managed a net profit rise of 23 percent in the first half thanks to craft and other premium beers even as ...

Troubled Cathay loses HK$2.05 billion in first half 2017 

Hong Kong flag carrier Cathay Pacific on Wednesday reported a massive net loss of HK$2.05 billion ($262.07 million) for the first half of the year ...

Australia's Fairfax Media back in the black

Australian publishing giant Fairfax Media on Wednesday posted a return to profit following a cost-cutting drive, although advertising revenue for its major newspapers weakened further. ...

Warning from history: Could Japan-style crash hit China?

Sizzling property prices, a groaning debt load, wealthy tourists and tycoons willing to slap down eye-popping sums for art: China is starting to look like ...

Ex-Pemex CEO to face questioning in Odebrecht scandal

Mexican prosecutors on Tuesday ordered the former chief executive of state oil company Pemex to answer questions about allegations he took $10 million in bribes ...

Stocks rise, dollar retreats on dovish Fed minutes

US stocks rose while the dollar retreated Wednesday after Federal Reserve policymakers hinted at a slower pace of future interest rate hikes in minutes of ...

NAFTA renegotiation talks open amid high expectations

Negotiators from Canada, Mexico and the United States open the first round of talks on Wednesday to revamp the 23-year-old regional free trade agreement some ...

Forget oil, Russia goes crazy for cryptocurrency

Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard ...

Struggling Brazil raises deficit ceiling

Brazil is raising its deficit ceiling for this year and 2018 because of a big drop in tax revenue, sluggish growth and other woes in ...

Wells Fargo names new Chair of Board

Wells Fargo announced Tuesday that it promoted Elizabeth Duke to chair its board of directors as it tries to correct course after a fake accounts ...

US household debt breaks pre-crisis record: NY Fed

US household debt reached a new record in the second quarter, surpassing a peak recorded at the start of the global financial crisis, the New ...

Venezuela becoming pariah for airlines

Jeanne Costes was stranded in Caracas for nearly a week, one of thousands of people affected by a withdrawal of foreign airlines balking at Venezuela's ...

Trump, the businessman president, loses CEO support

The honeymoon is definitely over. When US President Donald Trump was elected last November, big business rejoiced. In June, optimism among American CEOs was at ...

Turkey agrees extra holidays to boost tourism

The Turkish government on Tuesday extended upcoming public holidays to 10 days in the hope of boosting the tourism sector which has been hit by ...

Uber settles complaint over data protection for riders, drivers

Uber agreed to implement new data protection measures to settle complaints that it failed to prevent improper snooping on driver and customer information, officials said ...

Web firm fights US government over protester data in fresh clash on data

A web hosting firm is fighting a demand by US prosecutors for data on visitors to a site organizing a protest during the inauguration of ...

China's debt on a 'dangerous trajectory': IMF

China's massive debt is on a "dangerous" path, raising the risk of a sharp slowdown in growth, the IMF warned on Tuesday, urging Beijing to ...

Air Berlin files for insolvency but keeps flying

Germany's Air Berlin announced Tuesday that it had filed for insolvency after its main shareholder Etihad Airways said it would not plough any more cash ...

German judges refer ECB lawsuit to European court

Germany's top court said Tuesday it had referred a lawsuit against the European Central Bank's multi-billion-euro bond-buying scheme to the European Court of Justice, saying ...

Progress on terms of Brexit first, before other issues: EU

The European Union reiterated Tuesday that it would not address the issue of Britain's future partnership with the bloc post-Brexit until progress had been made ...

After Merck, CEOs of Intel, Under Armour quit Trump panel over rally

The chief executives of Merck, Intel and Under Armour resigned Monday from a White House advisory panel on manufacturing after President Donald Trump's initial failure ...

Uber bows to Philippines suspension after show of defiance

Uber was forced to suspend operations in the Philippines Tuesday, after the ride-sharing giant's efforts to appeal a one-month ban were quashed as it tussles ...

10 years ago: A harbinger of 2008 financial crisis

The failure of Lehman Brothers on September 15, 2008 triggered a series of convulsions in global finance that ultimately led to the worst crisis since ...

NY goes back in time with revival of hand-painted ads

Once outdated relics in a digital world, painted advertisements are flourishing once again in New York, putting a dose of hip attitude into 21st century ...

Corrupt can't hide: India's Modi defends war on graft

Prime Minister Narendra Modi marked 70 years of Indian independence Tuesday with an impassioned defence of his war on corruption, declaring a controversial move to ...

German growth slower, but still strong ahead of election

Germany's economic growth slowed in the second quarter as exports cooled, official data showed Tuesday, but strong domestic demand helped to keep Europe's powerhouse humming ...

Australia's biggest bank reveals further woes

Australia's biggest bank has admitted failures costing staff and customers millions of dollars as the troubled lender faces legal action over alleged breaches of money ...

Facebook samples China's potential with sneaky app

Facebook's sneaky launch of a photo-sharing app in China, where its social network is banned, gives it a small taste of the massive market's potential, ...

Global stocks extend rally as North Korea fears wane

World stock markets mostly rose Tuesday, extending the previous day's rally as fears receded over a potential clash between the United States and North Korea. ...

China warns it 'won't sit idle' if US harms trade ties

China warned on Tuesday that it "will not sit idle" if the United States takes actions that impair trade ties after President Donald Trump launched ...

'Bogeyman' car industry fires up German election

With six weeks to go until a general election, Chancellor Angela Merkel and her main rival are taking aim at Germany's scandal-hit car bosses, in ...

UK to seek 'temporary customs union' after Brexit

Britain said Tuesday that it would seek a "temporary customs union" with the European Union after Brexit, in an opening gambit for trade negotiations that ...

Tiki torch maker sad to see its product used at racist rally

A manufacturer of garden torches of the kind used for parties and family gatherings said it was saddened to see its products used over the ...

Ryanair calls for curbs to alcohol sales at UK airports

Ryanair on Monday called for British airports to impose a two-drink limit on passsengers and end boozing at breakfast time to help curb a rise ...

Buffett divests stake in General Electric

Warren Buffett's Berkshire Hathaway has sold off its stake in General Electric, according to US regulatory papers filed Monday. Berkshire had previously held 10.4 million ...

Uber board spat over ex-chief Kalanick goes public

A bitter fight over control of Uber has intensified in recent days with warring factions battling over the future role, if any, of ousted chief ...

Bruised but coping, Qatar's economy remains strong: experts

Qatar's economy has been hit by the sanctions imposed by a Saudi-led Arab bloc but the emirate's economy is strong enough to survive, analysts say. ...

Shares of Fiat Chrysler surge on report of Chinese suitors

Shares of Fiat Chrysler Automobiles surged Monday following a report that it is being targeted for a possible takeover by multiple Chinese companies. US-traded shares ...

China warns of retaliation as Trump launches trade probe

Trade tensions between the United States and China heated up on Tuesday as Beijing warned that it "will not sit idle" if a US probe ...

Lawyer: British hacking suspect will be vindicated

A lawyer for a 23-year-old British computer security researcher accused of creating malware to attack the banking system on Monday called him a "hero" and ...

Dutch count massive cost of tainted-eggs scare

Dutch farmers and retailers on Monday were counting the costs stemming from the tainted-eggs scandal that swept Europe, saying the total ran into tens of ...

After Merck, CEOs of Intel, Under Armour quit Trump panel over rally

The chief executives of Merck, Intel and Under Armour resigned Monday from a White House advisory panel on manufacturing after President Donald Trump's initial failure ...

Rising Dubai property sales boost Emaar's H1 profits

Dubai developer Emaar Properties on Monday announced 15 percent profit growth to $772 million in the first half of 2017, with property sales in the ...

Israel detains diamond magnate in money laundering probe

Israeli police on Monday detained diamond magnate Beny Steinmetz and four others as part of an international money laundering investigation, authorities said. Tal Silberstein, an ...

China warns against 'trade war' with US

China warned Monday that nobody would win in a "trade war" with the United States as President Donald Trump prepared to launch an investigation into ...

In Mexico, NAFTA's 'winners' worry for its future

Maria left behind a life of poverty as a farm worker to come to Juarez. Adriana moved to the city at 15 to work. Gildardo ...

RWE optimistic for 2017, boosted by nuclear tax refund

German energy giant RWE said on Monday it is on track to hit the upper targets of its 2017 forecast after a huge nuclear tax ...

Stocks claw back losses on easing tensions over N.Korea

Global stock markets clawed back losses Monday as spiraling tensions over North Korea showed tentative signs of easing, in turn reducing appetite for safer assets. ...

Australia's Crown says all staff held in China now free

Australia's Crown Resorts said Monday that China had released all of the casino group's employees who were detained as part of a gambling crackdown last ...

China industrial output slows sharply in July

Output by Chinese factories and workshops slowed sharply in July, growing by a lower-than-expected 6.4 percent compared to the same month last year, official figures ...

US, Mexico, Canada to open talks on revising NAFTA

President Donald Trump will have the chance to turn a key campaign promise into reality with this week's start of official talks to renegotiate the ...

Could Venezuela's debt crisis force regime change?

Venezuela might look bad right now with protests, scarce food and fraught political tensions. But it could soon get a lot worse, according to analysts, ...

Japan economy posts longest expansion in over a decade

Japan's economy grew 1.0 percent in the April-June period, notching up its sixth straight quarter of growth and its longest economic expansion in over a ...

Commonwealth Bank boss to retire amid laundering claims

The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of laws on ...

A scary 'Annabelle' leads N.American box offices

Horror, war or animal-centered comedy -- take your pick. This weekend, horror prevailed on North American movie screens, with "scary as hell" film "Annabelle: Creation" ...

Merkel rival slams car bosses in bid to revive campaign

German Chancellor Angela Merkel's chief challenger in a September election, Martin Schulz, on Sunday launched a stinging attack on the country's dieselgate-tainted car industry as ...

Saudi budget deficit halves after reforms, oil rebound

Saudi Arabia's budget deficit halved in the first six months of this year, the finance ministry said Sunday, following sweeping spending cuts and a stabilisation ...

China tames 'grey rhinos' after foreign shopping sprees

"Grey rhinos" have become a hunted species in China, where government regulators are clamping down on powerful private conglomerates amid fears they are racking up ...

Ivory Coast's battle of the beers turns bitter

"In our house, the beer is Bock!" boasts the familiar slogan for the lager that is Ivory Coast's market leader, brewed by Solibra. "Beer Ivoire, ...

Bulgaria's tobacco industry going up in smoke

When seven-year-old Fatmagul Ali picked her first tobacco leaves in 1967, growing the crop seemed like a licence to print money. At the time, communist ...

Nepal revives railways as China, India vye for influence

Three years after its last train hit the buffers, landlocked Nepal is building a new railway network to boost its ailing economy -- helped by ...

Silicon Valley's accidental war with the far right

Silicon Valley is finding itself entrenched in battle with the far right over ground rules for the digital world, a conflict that mirrors the polarization ...

Change or die: American malls confront Amazon era

As the retail industry churns in the Amazon era, American shopping malls are turning to a new generation of stores, food and entertainment offerings to ...

Venezuela state oil company PDVSA reports sharp drop in revenues

Venezuela's state-owned oil company PDVSA revealed on Saturday that its revenues have dropped sharply, spelling bad news for a crisis-torn country heavily reliant on its ...

Trump orders probe of China's intellectual property rules: officials

US President Donald Trump will sign a memorandum Monday that could lead to sanctions against China over its intellectual property practices, administration officials said Saturday. ...

Protestors occupy Shell plant in Nigeria

Hundreds of protesters have occupied a Nigerian oil facility owned by Anglo-Dutch oil giant Shell, demanding that a local company take over its operations, a ...

Experts point finger at Dutch oversight agency in egg scandal

Years of cuts at the Dutch food watchdog agency and a tendency among politicians to put economics ahead of public safety may be to blame ...

Russia nominates Gerhard Schroeder for Rosneft board

The Russian government has nominated former German Chancellor Gerhard Schroeder, a close friend of President Vladimir Putin, to join the board of Rosneft, the energy ...

Facebook discretely fields China photo-sharing app

Facebook's interest in China has led it to discretely create a photo-sharing application released there without the social network's brand being attached. "We have long ...

Odebrecht scandal reaches Peru's Keiko Fujimori

A mass corruption scandal over Brazilian construction firm Odebrecht has reportedly reached Peru's opposition leader Keiko Fujimori, daughter of a former president jailed for graft ...

International travel to US drops for first time since 2009

The number of international visitors to the United States has dropped for the first time since 2009, as did their spending, the US Department of ...

HBO offered 'bounty' to hackers: report

HBO offered a reward of $250,000 in response to a data breach at the television group that produces "Game of Thrones," according to a report ...

US consumer prices see modest rise in July

US consumer inflation rose modestly in July, showing signs of life after months of weakening price pressures, the Labor Department reported Friday. While inflation remains ...

Fines surge in crackdown on Airbnb owners in Paris

Fines imposed against owners renting their Paris apartments out on Airbnb surged more than tenfold in the first half of 2017 thanks to more rigorous ...

India says economy could slow down

India's economy is at risk of slowing down in the current fiscal year, the government said in a mid-year economic survey Friday. In February, the ...

China probes social media platforms for 'obscenity'

China has launched probes into three of its largest social networking platforms over the suspected dissemination of violence and obscenity -- the latest move aimed ...

OPEC pumps more oil in July despite cut pledge: IEA

OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further ...

Corporate regulator to probe Australia's biggest bank

Australia's corporate regulator said Friday it would investigate the nation's biggest bank, the Commonwealth, over its handling of alleged breaches of money laundering and terrorism ...

Avoiding a Greek tragedy for Athens' modernist architecture

Although in the shadow of its ancient hilltop Parthenon, Athens is also home to elegant architectural gems from the 19th and 20th centuries which marked ...

Global markets pressured by North Korea fears

European and Asian equity markets were mostly lower Friday on the back of simmering tensions between the United States and North Korea, but firmer prices ...

All that glitters: Ghana battles illegal mining

Ghana has long been known for its bountiful gold reserves and was called "the Gold Coast" during its colonial era. But illegal mining in Africa's ...

Petrobras profits plummet in second quarter

Brazil's troubled oil giant Petrobas on Thursday reported a 93 percent drop in profits in the second quarter of 2017 from the previous three months. ...

Google cancels diversity debate Town Hall

Google Thursday canceled a Town Hall intended to air viewpoints on diversity, sexism and free speech, citing worker safety concerns. "We'll find a better way ...

Credit Suisse bars trades on some Venezuelan bonds

Credit Suisse barred its traders from transacting some Venezuelan government bonds and required other Venezuela-connected transactions to undergo a special review for reputational risk, a ...

Newspaper woes send Murdoch's News Corp into red

US media group News Corp on Thursday reported a loss in the past quarter, hit by declines in advertising and writedowns at its global newspapers. ...

Snapchat results failed to click with Wall Street

Shares of Snapchat parent Snap sank to new lows on Thursday after the company reported a hefty quarterly loss and user growth which missed Wall ...

Uber investor lawsuit accuses Kalanick of rigging board

A major Uber investor on Thursday sued founder Travis Kalanick, accusing the recently departed chief executive of covering misdeeds while rigging the board in order ...

Saudi, Iraq vow stronger commitment to cut oil output

OPEC's top two producers agreed Thursday to strengthen their commitment to production cuts, as the oil cartel reported a collective increase in output last month ...

Banks crash the party of Italy's "Mister Enjoy"

Gianluca Vacchi, an Italian playboy who has built up a huge social media following by recording his hedonistic lifestyle, has had a yacht and properties ...

Facebook rolls out video shows, in new challenge

Facebook is rolling out a new video service offering professionally produced shows in a challenge to rivals such as YouTube, and potentially to streaming providers ...

Lego appoints new CEO after just eight months

Danish toy maker Lego, known for its iconic coloured plastic bricks, said Thursday it had appointed a new chief executive, replacing Briton Bali Padda who ...

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