Business

Alitalia strike grounds 200 flights

A strike at Italian carrier Alitalia, placed in administration earlier this month, grounded 200 flights Sunday, the airline said, adding it managed to reassign some ...

Airbus starts building first helicopter plant in China

Airbus has begun building its first helicopter assembly plant in China, and the European planemaker plans to produce 18 machines a year there in hopes ...

Paris School of Economics, France's LSE, turns 10

Armed with an ever-lengthening list of prestigious names on its teaching staff and a constantly improving ranking, the Paris School of Economics -- which celebrates ...

Tough times for S.Africa town blighted by mine closure

At the end of a narrow road stands the dilapidated husk of a golf clubhouse, now overrun with tall weeds and creepers. It stands as ...

Young Chinese in the red as easy credit drives up debt

When Wu Qi and her husband traded in their Mazda 3 for a more expensive Mercedes Benz sedan, they applied for a 200,000 yuan ($29,000) ...

Why nuclear could become the next 'fossil' fuel

A gray dinosaur statue outside south Florida's largest power plant is meant to symbolize two decommissioned fossil fuel reactors, but it also could be seen ...

Hopes of 'Trump-o-nomics' vs slow-growth reality

President Donald Trump's economic and tax agenda assume growth in the world's largest economy will see a sustained rebound to double the current rate. But ...

Google linking online and offline worlds in new ad challenge

Google is testing a way to tie online ads to brick-and-mortar store purchases, a move whetting marketing appetites while fueling privacy worries. A product called ...

Apple opens first official store in Southeast Asia

Apple opened its first Southeast Asia store in Singapore on Saturday, drawing hundreds of excited fans to the swanky two-storey site in the city's upmarket ...

Gibraltar bets on holding online gambling top spot

Gibraltar Friday vowed to do whatever it takes to keep its position as a leading online gambling jurisdiction despite Britain's looming exit from the European ...

UPS fined $247 mn for illegal cigarette shipments

A US judge ordered the American shipping giant UPS to pay $247 million to New York state and city governments, for shipments of cigarettes that ...

Fractious politics leads 'Far Cry' video game to US

The latest edition of the blockbuster shooter video game "Far Cry" plays out on US soil, inspired by angry political divides and intense isolationist passions ...

Macron snubs May on post-Brexit trade deal talks

France's new President Emmanuel Macron on Friday brushed off Theresa May's request for early talks on a trade deal with the EU after Brexit. As ...

China says considering tighter controls on yuan currency

China said Friday it is considering a change to its mechanism for managing its currency to buffer it against market forces, in an apparent step ...

US first-quarter growth revised up sharply to 1.2%

The US economy grew much faster than originally reported in the first quarter due to sharp increases in business and consumer spending, the Commerce Department ...

Car wars: Trump-Germany salvo raises EU-US trade fears

US President Donald Trump has launched a salvo against German car exports to the United States, officials confirmed Friday, in the latest sign of simmering ...

Appetite for iPhone parts spurs Taiwan economic growth

The seemingly insatiable global demand for smart phones and other high-tech products gave Taiwan's economy a welcome boost in the January to March period, official ...

IMF sets tough new Ukraine loan demands

The International Monetary Fund said on Friday it will only release a new tranche payment to Ukraine once parliament approves a long-stalled pension system overhaul ...

Italy's 'Queen of Cashmere' Biagiotti dies aged 73

Italian fashion designer Laura Biagiotti, who pioneered the marketing of cashmere products in places such as China and the former Soviet Union, has died aged ...

The secret lives of Cannes' Instagram queens

They dress like celebrities and can increasingly be spotted on the world's catwalks and red carpets. Meet the "influencers", the most famous people you've never ...

London, New York stocks set records as pound suffers

Stocks in London and New York hit record highs on Friday while European and Asian equities struggled. Oil prices stabilized, after plunging almost five percent ...

Trump says 'Germans are very bad': Spiegel

President Donald Trump launched a salvo against Germany and its car sales in the United States at a meeting Thursday with European Union leaders, German ...

Japan consumer prices rise in April for fourth straight month: govt

Japan's consumer prices rose again in April due largely to higher energy bills, data showed Friday, underpinning a mixed picture for policy makers' efforts to ...

GM pickup owners sue, alleging emissions cheating

Two US owners of General Motors diesel pickup models sued the giant automaker on Thursday, claiming it had used emissions-cheating devices similar to those in ...

Amazon opens first brick and mortar New York bookshop

Online retail giant Amazon on Thursday opened its first brick and mortar bookstore in New York, selling a limited range of its highest-rated books and ...

Greece debt talks remain fraught despite IMF optimism

Critical talks on easing Greece's massive debt burden remain fraught with conflict, despite assurances from the International Monetary Fund on Thursday that the sides are ...

Pakistan economy grows at highest rate in decade: finance minister

Pakistan's economy expanded almost 5.3 percent in the last year, the country's finance minister said Thursday, as gross domestic product crossed $300 billion for the ...

Saudi minister confident oil output deal will work

Saudi Arabia expects the likely extension of a deal among 24 oil producers cutting production will ease the global crude glut sufficiently by early 2018, ...

Lenovo returns to profit as PC market stabilises

Chinese technology giant Lenovo on Thursday said its net profit for the fiscal year was back in the black, helped by stabilisation in its core ...

New business and old ties on agenda as Modi tours Europe

Indian Prime Minister Narendra Modi will depart Monday for a four-nation tour of Europe that will include strategic talks with historic ally Russia and with ...

Harley-Davidson to build assembly plant in Thailand

Harley-Davidson, the iconic motorcycle brand hailed by US President Donald Trump for keeping jobs in America, is building a plant in Thailand, the company confirmed ...

All aboard India's new luxury affordable train

India's passenger trains are notorious for being rickety and spartan, but the government is hoping to change all that with a new "luxury" service. The ...

Moody's slashes Hong Kong rating following China cut

Hong Kong on Thursday hit back at a decision by Moody's to cut its credit rating on the city, which the agency said was becoming ...

Wall Street forges higher despite oil market's glum mood

Buoyant trading in New York saw Wall Street set fresh records on Thursday, with US stocks recording their sixth consecutive positive finish. European markets were ...

Ukraine brews up Trump beer with a Putin twist

Fancy a beer with a twist of political intrigue? A craft brewery in Ukraine has cashed in on the frenzy surrounding Donald Trump's possible campaign ...

Oil producers extend output cuts into 2018

Oil producers within and outside OPEC agreed on Thursday to extend output cuts into 2018 to ease a global supply glut and support the price ...

Serious injuries at Tesla plant double industry average: report

The rate of serious injuries at a Tesla factory in California is double the industry average, a worker advocacy group said Wednesday in a report ...

Xbox adds Netflix-style video game subscriptions

Microsoft on Wednesday launched a subscription service for Xbox, letting players pay a monthly fee for access to a library of videogames for its console. ...

Chinese tech firm LeEco reverses course in US, cuts 325 jobs

Cash-strapped Chinese tech firm LeEco on Wednesday confirmed that it is throttling back plans to invade the US market, cutting 325 jobs months after announcing ...

As US mulls action on steel, foreign producers urge caution

Foreign steel producers on Wednesday called for prudence from the Trump administration as it considers possible actions to shield domestic companies from unfair imports on ...

Italian steel magnate to end up behind bars

Italian businessman Adriano Riva, whose family owned the bankrupt Ilva steel firm, was handed a two-and-half-year term on Wednesday after transferring 1.3 billion euros ($1.5 ...

US Fed: New rate hike likely coming 'soon'

US central bankers say it will "soon" be time toraise the key lending rate again, according to minutes from the last Federal Reserve meeting released ...

New York fines BNP Paribas $350 mn over fake currency trading

New York state bank regulators fined BNP Paribas $350 million for "illegal, unsafe and unsound" currency trading practices that included use of secret hand signals ...

Lawmakers seek details of Trump-Deutsche Bank-Russia ties

US lawmakers have demanded documents from German banking giant Deutsche Bank detailing its ties with President Donald Trump and his dealings with Russia. It was ...

OPEC moves towards 9-month output cut extension

Oil producers within and outside OPEC headed Wednesday towards an agreement maintaining cuts in output into next year after a joint committee recommended a nine-month ...

US existing home sales fall in April

Sales of existing homes in the US fell in April after posting a 10-year record in March, depressed by the "stubbornly low supply" of homes ...

Canada central bank keeps key lending rate at 0.5%

Canada's central bank maintained its key lending rate at 0.5 percent Wednesday, taking a cautious stance amid uncertainty over trade with the United States. Indicators ...

Germany calls for better EU market access to China

Visiting German Foreign Minister Sigmar Gabriel urged China Wednesday to improve market access for European Union firms seeking to invest there. He was speaking after ...

Singapore fines ex-trader over Malaysia's 1MDB saga

A former stocks trader was fined in Singapore Wednesday for his role in an international money-laundering scandal involving Malaysia's state fund 1MDB, the latest person ...

ECB sees clouds over eurozone's financial stability

The European Central Bank said Wednesday that stress in the eurozone financial system had remained low over the past six months, but it warned of ...

China's Geely takes stake in Proton, Lotus

Chinese auto giant Geely on Wednesday announced it was taking a 49.9 percent stake in Malaysia's troubled Proton as well as a 51 percent share ...

German consumer confidence up for second month

German consumers remain in an upbeat mood for a second month in a row, dismissing risks on the horizon in view of a humming economy, ...

Brazil graft scandal puts ambitious economy reforms at risk

Economic austerity reforms meant to put Brazil's recession-damaged economy back on the rails are in danger now that President Michel Temer is on the verge ...

Australian cricketers move to take back image rights

Australian cricketers on Wednesday unveiled plans to take back their own image rights, firing the latest salvo in an ongoing pay battle with the country's ...

US stocks up again, S&P hits record on Fed minutes

Wall Street finished higher Wednesday for the fifth consecutive session, and the S&P 500 hit an all-time high as investors reacted favorably to the US ...

Gambia tackles sleazy image to diversify tourism

For decades, The Gambia has built a reputation as a haven for tourists willing to pay for sun, sand, sea... and sex. But its tourism ...

Moody's cuts China's rating on debt fears

Moody's on Wednesday slashed China's credit rating for the first time in almost three decades citing concerns about the country's rising debt and slowing growth, ...

Samsung investigating Galaxy S8 'iris hack'

Samsung Electronics is investigating claims by a German hacking group that it fooled the iris recognition system of the new flagship Galaxy S8 device, the ...

Moody's cuts China's rating on debt concerns

Moody's ratings agency downgraded China's credit score on Wednesday, warning that economy-wide debt is expected to rise as potential economic growth slows over the coming ...

Jump in renewable energy jobs worldwide: agency

The renewable energy sector employed 9.8 million people worldwide in 2016, marking a sharp increase from 2012, the Abu Dhabi-based International Renewable Energy Agency said ...

After new concert carnage, industry hopes to prevail

Violence has once again struck music fans with a suicide attack on Ariana Grande's Manchester show, but the booming concert industry hopes to withstand the ...

Uber says it accidentally shortchanged drivers in NYC

Uber on Tuesday said that it accidentally shortchanged drivers in New York City and plans to pay them what they are due, plus interest. While ...

Patrick Drahi to unify assets into single Altice brand

French billionaire Patrick Drahi's European telecoms giant Altice on Tuesday unveiled a new global strategy, merging many of the company's brands under one name. "Altice ...

NY's Broadway grosses record $1.45bn ticket sales

New York's famed Broadway grossed its highest seasonal earnings on record, yielding $1.45 billion for the 2016-17 season with its second-best attendance on record, a ...

Glencore in talks with Bunge about possible combination

Commodities giant Glencore has approached US agribusiness firm Bunge about a "possible consensual business combination," the company said Tuesday. Shares of Bunge surged on reports ...

Trump budget proposes deep cut to US oil stockpile

President Donald Trump's budget released Tuesday proposed radically downsizing the US Strategic Petroleum Reserve, arguing that America's shale boom has lessened the need for an ...

Mexico, Canada urge three-way NAFTA talks with US

Canada and Mexico on Tuesday insisted that an overhaul of the North American Free Trade Agreement demanded by the United States must be negotiated in ...

VW 'assisted witness' in French fraud probe

Volkswagen has been given the status of assisted witness in a French fraud probe over the use of software to reduce emissions during pollution tests, ...

Trump budget calls for deep cuts to social safety net

The White House delivered to Congress Tuesday a proposed 2018 budget that would deeply cut programs for the poor and rural America, as well as ...

US sues Fiat Chrysler over diesel emissions cheating

US environmental regulators on Tuesday filed a lawsuit against automaker Fiat Chrysler, accusing the company of installing devices on its trucks that hid harmful emissions ...

Ford shakeup underscores Detroit's tech dilemmas

Ford's decision to oust its CEO is the latest sign of how Silicon Valley technology firms are shaking the foundation of the American auto industry. ...

German police raid Daimler offices in emissions fraud probe

German police on Tuesday searched the offices of Daimler as part of their investigation into possible manipulation of emissions data by employees at the auto ...

Tata Motors profits fall 17 percent on pound decline

Indian carmaker Tata Motors Tuesday reported a 17 percent fall in quarterly profits, as the pound depreciated against the rupee following Britain's vote to leave ...

US new home sales cool in April

Sales of new US homes experienced a sharp slowdown in April after hitting a record in March, and prices also fell, the Commerce Department reported ...

Greece says vital loan payment not affected by debt talks impasse

The deadlock in eurozone-IMF talks over Greek debt relief will not affect a vital loan payment needed to avert a July default, Athens said Tuesday. ...

In first test, France's Macron opens key labour reform talks

French President Emmanuel Macron got to work Tuesday on his first major agenda item of overhauling the labour code, meeting with union leaders and bosses ...

Nokia, Apple bury hatchet in patent dispute

Nokia and Apple said Tuesday they were burying the hatchet in a bitter patent dispute with a cooperation agreement and an undisclosed cash payment by ...

IMF demands more from eurozone on Greek debt relief

The IMF on Tuesday demanded more detailed commitments from the eurozone on debt relief for Greece before it could accept joining the country's latest bailout ...

German business confidence hits highest level since 1991

German business confidence soared in May to levels not seen in more than a quarter of a century, a monthly survey from the Munich-based Ifo ...

US approves Sanofi, Regeneron arthritis drug

US federal regulators have given the green light to French pharmaceutical company Sanofi and its US partner Regeneron to market a drug to treat the ...

Eurozone economy holds at six-year high in May

The eurozone economy grew at its fastest pace in six years in May as job creation in Europe picked up to its highest level in ...

North Korea-linked hackers 'highly likely' behind WannaCry: Symantec

The Lazarus hacking group, widely believed to be connected to North Korea, is "highly likely" responsible for the WannaCry global cyberattack that hit earlier this ...

Sony chief says major turnaround complete

Sony chief executive Kazuo Hirai on Tuesday hailed a years-long company restructuring as a success, but said struggles in its movie business remain a "pressing ...

Hong Kong police arrest 21 Uber drivers in sting

Hong Kong police on Tuesday arrested 21 Uber drivers for carrying passengers without a proper permit following an undercover operation, in the latest setback for ...

Trading in Noble shares halted as default warning fuels 28% dive

Trading in embattled commodities firm Noble Group was halted Tuesday after it plunged almost a third to a 16-year low in reaction to a warning ...

Oil producers to extend output curbs at OPEC meeting

Oil producers inside and outside the OPEC cartel have little choice but to extend their deal from late 2016 curbing output when they meet in ...

China scrambles to tame bike chaos

A booming rental bike business has flooded China's streets with packs of cyclists, but their habit of going the wrong way and abandoning their rides ...

London stocks dip following Manchester attack

London stocks dipped on Tuesday, with sentiment dented by a deadly terror attack in Manchester, while eurozone equities climbed on upbeat data and US stocks ...

Scary space movie dethrones funny space movie at box office

In a battle of space films, Ridley Scott's "Alien: Covenant" beat "Guardians of the Galaxy Vol. 2" to the top of the North American box ...

Mexico raises economic outlook despite Trump fears

Mexico raised its economic growth outlook on Monday, saying it performed better than expected in the first quarter despite fears it would suffer from US ...

Banamex to pay $97.4 mn to settle US laundering probe

Banamex, the Mexican affiliate of US banking giant Citigroup, will forfeit $97.4 million after admitting to having a weak anti-money laundering program, the US Justice ...

Iraq agrees to nine-month extension of OPEC production cut: minister

Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil ...

Shares plummet in JBS meatpackers amid Brazil corruption scandal

Shares in JBS, the world's biggest meatpacking company, plummeted nearly 20 percent Monday in Sao Paulo amid a corruption scandal involving executives and Brazilian President ...

Italy growth lags behind neighbours

Italy's economy will grow slower than any other in the EU this year and business figures say an ongoing credit squeeze, the lack of a ...

Ford shakes up leadership amid lagging sales

Ford Motor Company shook up its top management Monday, ousting its CEO amid declining sales in major markets, pressure to ramp up technology and a ...

Russia to lift some Turkey sanctions, tomato ban stays

Russia agreed Monday to lift some trade sanctions against Turkey imposed in the wake of the shooting down of a Russian warplane over the Turkish-Syrian ...

French railway offers weekend getaways ... in cars

French national railway SNCF said Monday it was going to rent out of some of its company cars at the weekend via its car rental ...

Snapchat leads augmented reality gains: researchers

Augmented reality is seeing strong gains among Americans thanks to social networks like Snapchat, Instagram and Facebook, a market research firm said Monday. A new ...

China's JAC says electric car tie-up with VW approved

China's JAC Motors said on Monday it had received government approval for a $734 million joint venture with Volkswagen to produce 100,000 electric cars per ...

AkzoNobel shareholders seek court help to oust chairman

AkzoNobel shareholders and a US hedge fund manager Monday urged a court to allow a vote on ousting the chairman of the world's leading paint ...

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