Business

Libya seizes oil tankers and crew after shootout at sea

Libya has seized two foreign-flagged oil tankers and detained their crews for allegedly smuggling fuel after an hours-long gunbattle off the west coast, authorities said. ...

'Tontine' microcredit helps Senegal women do business

After months of waiting, 50-year-old Ndeye Khari Pouye has finally won the "cagnotte de la tontine", a precious jackpot to help feed her chickens and ...

China targets debt risks, but does it mean business?

China has launched perhaps its most concerted push yet to clean up a toxic brew of unregulated and risky lending increasingly viewed as a threat ...

Vacant apartments held for ransom in Spain

A wall of bricks and cement covers the window of a brand new apartment on the ground floor of a quaint building in Barceloneta, a ...

China says factory activity expands at slower pace in April

China's factory activity continued to expand in April, albeit at a slower-than-expected pace, official data showed on Sunday, adding to signs of stabilisation in the ...

US economy softens but Fed likely to stay the course

Since the Federal Reserve upped its benchmark interest rates by a notch in mid-March, the skies have grown a shade darker for the world's largest ...

Pall remains over Canadian oil sands after wildfires

One year after massive wildfires swept through Alberta province in Canada's worst natural disaster in history, the future of the oil sands -- which contain ...

Brazilian judge authorizes release of ex-magnate Batista

Fallen tycoon Eike Batista, who rose to become Brazil's wealthiest man before surrendering to face corruption charges, may be released from prison while awaiting his ...

Britain steps up fight against dirty London property

Britain took a significant step towards exposing dirty money in the London property market this week, passing a law allowing the seizure of homes from ...

First direct London-China train completes 12,000 km run

Laden with whisky and baby milk, the first freight train linking China directly to the UK arrived in the eastern Chinese city of Yiwu Saturday ...

US to review trade pacts, looking at 'abuses'

President Donald Trump will sign a decree Saturday ordering a review of "violations and abuses" of international trade pacts signed by the United States, including ...

Paltrow brings 'Goop' to print with Conde Nast

Actress and lifestyle maven Gwyneth Paltrow announced Friday she is launching a print magazine based on her style website Goop with publishing group Conde Nast. ...

SpaceX to launch classified US govt payload Sunday

SpaceX on Sunday is scheduled to make its first military launch, with a classified payload for the National Reconnaissance Office, which makes and operates spy ...

S&P retains negative outlook rating for UK over Brexit

Credit ratings agency Standard & Poor's on Friday retained its AA status with negative outlook for the United Kingdom, citing "significant risk" due to Brexit. ...

Trump moves to lift bans on Arctic drilling

US President Donald Trump signed an executive order aimed at lifting bans on drilling for oil and gas in offshore Arctic and Atlantic areas, saying ...

US media group Time Inc. opts to stay independent

US magazine publisher Time Inc. said Friday it plans to remain independent as it shifts to a "multi-platform media marketplace," dismissing speculation of a sale ...

Oil earnings surge but some question skimpy investment

Rising crude prices drove huge profits for US oil industry giants, but key figures in the sector have raised concerns about low investments in exploration ...

German airlines to scrap 'two-person' cockpit rule

German airlines will no longer require two people to be in the cockpit at all times, an industry group said Friday, abandoning a rule introduced ...

Violence mars Brazil's anti-austerity general strike

Police in Brazil tear-gassed demonstrators and rioters burned buses in the violent conclusion of a general strike that shut down transport, schools and banks in ...

Scottish whisky exports boom post-referendum

Scottish whisky exports returned to growth for the first time in five years in 2016 thanks to a weaker pound after Britain voted for Brexit, ...

Greenpeace disrupts Credit Suisse meet over pipeline financing

Greenpeace activists disrupted a Credit Suisse shareholder meeting in Zurich Friday, unfurling a banner to protest the bank's alleged financing of the controversial Dakota Access ...

US growth hits 3-year low in Trump's first quarter

US growth slid to its lowest level in three years in the first quarter, a disappointing start to Donald Trump's presidency as it reaches the ...

GM earnings jump on strong North America sales

General Motors reported a jump in first-quarter earnings Friday, topping analysts' estimates following strong sales in North America. The auto giant clocked another quarter of ...

Honda net profit up on easing airbag recall costs

Honda on Friday said annual net profit jumped 79 percent on a reduction in expenses related to a historic airbag recall by its main supplier ...

British economy slows as Brexit talks, election loom

Britain's economic growth slowed in the first quarter to the weakest pace in a year, official data showed Friday -- a blow for a nation ...

New funding makes China's Didi 'most valuable Asian start-up'

China's ride-hailing leader Didi Chuxing said Friday it had raised more than $5.5 billion in new financing amid reports that the fund injection makes it ...

Sharp full-year loss shrinks 90% after Hon Hai deal

Sharp said Friday its full-year net loss shrank by 90 percent and it swung to operating profit on structural reforms after being acquired last year ...

UBS books 'very strong' first quarter

Swiss banking giant UBS said Friday that it booked "very strong first-quarter results", driven largely by its investment banking and wealth management activities. UBS said ...

Sony sets sights on two-decade profit high

Sony said Friday it is on track to report its highest annual operating profit in 20 years owing to strong sales in its smartphone component ...

Royal Bank of Scotland rebounds into slender Q1 profit

Britain's bailed-out Royal Bank of Scotland rebounded into a first-quarter profit on cost-cutting, it said Friday, but the year-earlier loss was skewed by a vast ...

Sports broadcasting giant ESPN forced to reinvent itself

ESPN, the giant of American sports television channels, has been losing subscribers by the millions while being clobbered by increasingly expensive broadcast rights. The company ...

Ex-Olympus bosses ordered to pay $529 mn over fraud

A group of sacked Olympus executives has been ordered to pay more than half a billion dollars in damages for a massive accounting fraud that ...

Asia markets retreat after strong week, eye on US data

Asian investors on Friday wound down after a strong week, with profit-taking weighing on markets and attention turning to the release of US growth data ...

Japan inflation ticks up, weak spending weighs

Japanese consumer prices rose in March, data showed Friday, but a drop in factory output and still-weak household spending underscored the challenges facing policymakers as ...

British inventor takes flight in 'Iron Man' suit

British inventor Richard Browning lifted off from the shore of Vancouver Harbor on Thursday in a personal flight suit that inspired references to comic superhero ...

Online videos of killings pose tricky problem for Facebook

Posting a smartphone video online has never been so easy -- even if the video shows a murder. After two recent cases that shocked the ...

Amazon delivers strong profits, shares rally

US online giant Amazon on Thursday delivered stronger-than-expected financial results for the first quarter, pushing shares higher. Profit rose 41 percent from a year ago ...

Microsoft quarterly profit up 28 percent at $4.8 bn

Microsoft on Thursday reported a strong jump in profits in the just-ended quarter but revenue fell short of expectations in the tech giant's first earnings ...

Google parent Alphabet revs up revenue, profit

Google parent Alphabet on Thursday reported strong gains in quarterly results, beating most market forecast despite rising costs for its "moonshot" efforts. Alphabet reported a ...

Trump targets aluminum in week of trade tensions

In a week full of trade discord, US President Donald Trump vowed Thursday to take action to boost the American aluminum industry which has been ...

Curry 3 shoe sales disappointing says Under Armour

Sales for the signature basketball shoe of NBA Golden State Warriors superstar Stephen Curry have been below expectations, Under Armour chief executive officer Kevin Plank ...

VW to launch production of electric utility vehicle in Poland

German carmaker Volkswagen will manufacture its new e-Crafter electric utility vehicles at a factory in neighbouring Poland, a spokesman for the group said Thursday. "At ...

US farmers hope NAFTA survives the Trump era

President Donald Trump's threat to abandon the North American Free Trade Agreement has US farmers worried their access to prime Canadian and Mexican export markets ...

Samsung, Apple keep top spots in smartphone market

Samsung and Apple maintained their leadership in the smartphone market in early 2017 while Chinese-based Huawei's strong growth cemented its number three position, a market ...

American Airlines defends pay increase as shares tumble

American Airlines defended an unexpected pay increase for its employees Thursday, saying the raise was needed to keep pace with competitors and better serve customers. ...

German inflation shoots up to 2.0% in April: official data

German inflation shot up in April to reach the European Central Bank's target, preliminary data showed Thursday, giving impetus to growing calls for monetary policy ...

Spain's jobless rate rises for first time in a year

Spain's first-quarter jobless rate rose for the first time in a year, official figures showed Thursday, mainly due to a lull in the tourism sector. ...

ECB leaves interest rates unchanged and bond buying intact

European Central Bank governors on Thursday left key interest rates at historic lows and the ECB's mass bond-buying programme in place, a spokesman said, in ...

Eurogroup chief vows Greek deal in May

Eurogroup head Jeroen Dijsselbloem gave a "strong commitment" Thursday that a deal to break the deadlock over Greece's bailout would be reached by next month. ...

Energy prices rebalancing after OPEC accord: Qatar

Global energy markets are moving in the right direction after oil prices fell to historic lows due to oversupply, Qatar's energy minister said Thursday, praising ...

Lufthansa says not interested in taking over Alitalia

German airline group Lufthansa said Thursday it is not interested in snapping up troubled Italian carrier Alitalia, as Rome hunts for a buyer after workers ...

Nokia reports another loss as networks sag

Finland's telecoms giant Nokia reported Thursday that it remained deep in the red at the start of the year, with sales in its main business, ...

Nintendo eyes sale of 10 mn Switch consoles in year to March

Nintendo expects to sell 10 million units of the new Switch game console over the next year, the company said Thursday, as it bets big ...

Lloyds bank says quarterly net profit soared 72 percent

Britain's state-rescued Lloyds Banking Group said Thursday that first quarter net profit jumped 72 percent as exceptional costs from a year earlier were not repeated. ...

Airbus profits take off on sale of defence electronics firm

European aircraft maker Airbus said on Thursday its profits soared 52 percent in the first quarter largely due to the sale of its defence electronics ...

Airbag maker Takata shares plunge nearly 20% on bankruptcy report

Takata shares dropped nearly 20 percent on Thursday after a media report said the embattled Japanese airbag maker was considering filing for bankruptcy protection and ...

Lufthansa positive despite net loss in first quarter

German airline group Lufthansa on Thursday reported a much larger net loss in the first three months of the year, but sought to play up ...

German consumers spring into May with confidence

People in Germany are increasingly confident about the economy, with a closely-watched survey showing on Thursday that lower inflation has revived optimism for May after ...

United settles with dragged passenger, changes practices

United Airlines set out to repair its image Thursday, reaching an undisclosed settlement with the dragged passenger at the center of a worldwide uproar and ...

Deutsche Bank shares tumble despite strong Q1

Shares in Germany's biggest lender Deutsche Bank took a tumble in morning trading in Frankfurt Thursday, despite the bank reporting strong first-quarter results. Deutsche shares ...

World's largest shipbuilder sails back to quarterly profit

The world's biggest shipbuilder Hyundai Heavy Industries swung back to the black in the first quarter as cost-cutting efforts and a shift to high-end vessels ...

Takata shares suspended on bankruptcy, asset sale report

Trading in Takata's shares was halted on Thursday after a media report said the embattled Japanese airbag maker was considering filing for bankruptcy and then ...

Bank of Japan trims inflation view, stands pat on policy

Japan's central bank on Thursday trimmed its annual inflation forecast in an acknowledgement of the struggles it faces in jacking up consumer prices. The BoJ ...

Australia's Ten Network struggles for survival

The Ten Network, one of Australia's three commercial channels and which broadcasts shows such as "I'm a Celebrity...", on Thursday warned of grave concerns about ...

Australia to restrict gas exports as energy crisis bites

Australia will enforce export restrictions on major gas producers, the prime minister said Thursday, to shore up domestic supply as a growing energy crisis sees ...

Petroleum shares tumble on lower oil prices

Petroleum-linked companies were in retreat Thursday on lower oil prices while global stocks were mixed following a deluge of earnings reports. In the US, weakness ...

Canada, Mexico win NAFTA breathing space

Canada and Mexico got a reprieve in their tough trade relationship with Donald Trump after the US president walked back his threat to jettison the ...

ECB sees 'increasingly solid' eurozone but leaves support in place

European Central Bank chief Mario Draghi on Thursday offered a more upbeat assessment of economic recovery in the eurozone, while leaving interest rates and massive ...

After steel, Trump trains his sights on aluminum imports

The Trump administration on Wednesday announced it is launching an investigation into aluminum imports, saying they could be harming US interests including national security. Following ...

Samsung posts biggest quarterly net profit since 2013

South Korean tech giant Samsung Electronics posted its biggest quarterly net profit for more than three years Thursday after shrugging off the debacle over exploding ...

Argentina farmers stage vegetable giveaway to protest low prices

Farmers in Argentina gave away truckloads of vegetables in central Buenos Aires on Wednesday in a protest over low prices for their produce that also ...

Venezuela to quit OAS regional bloc: government

Venezuela said Wednesday it was quitting the Organization of American States in anger at pressure from the bloc over the government's handling of a violent ...

When Nature vents her wrath on grapes

Making wine is a tough job in most places, what with frost, hail, drought and bushfires to contend with. But nowhere is the task bigger ...

US regulator vows to roll back 'net neutrality' rules

A top US regulatory official on Wednesday unveiled plans to roll back so-called "net neutrality" rules that require broadband firms to treat all online traffic ...

Airbus says Austria probing its chief over Eurofighter deal

Austrian prosecutors are investigating Airbus chief Tom Enders as part of a fraud and corruption probe into a 2003 Eurofighter deal, the aircraft maker said ...

Montenegro says Russia wine ban linked to NATO accession

Montenegro said Wednesday that a decision by Russia to ban imports from its biggest winemaker was politically motivated by the Balkan country's imminent accession to ...

Britain fears Brexit impact of Macron win in France

Marine Le Pen's performance in France's presidential race cheered Brexit supporters, but many fear the likely winner Emmanuel Macron will play hardball in Britain's negotiations ...

13 big businesses urge Trump to stay in Paris deal

Thirteen big businesses, including oil giant Shell and retailer Walmart, on Wednesday urged US President Donald Trump to keep the United States in the Paris ...

Trump proposes major tax cuts, 15% corporate rate

The Trump administration has unveiled plans to dramatically cut taxes for US businesses and individuals, slashing the corporate rate to 15 percent, but the once-in-a-generation ...

Twitter gets lift from uptick in user numbers

Twitter shares surged Wednesday after its quarterly update showed improving growth in user numbers, offsetting concerns over a decline in revenue and another net loss ...

Italy seeks Alitalia sale, rules out rescue

Italy's centre-left government said Wednesday Alitalia would be sold to the "highest bidder", again ruling out a state rescue as fears mounted that the troubled ...

Boeing profits jump but commercial air deliveries fall

Aerospace giant Boeing said Wednesday declining costs boosted earnings for the latest quarter, but revenues missed analyst expectations as commercial plane deliveries fell. Net income ...

McDonald's shelves Japan unit sale plans

McDonald's has decided not to sell its stake in a Japanese unit hit by a series of food contamination scandals and slumping sales. The US ...

Berlin sees faster growth, narrower trade surplus ahead

The German government upgraded its economic forecast for 2017 slightly Wednesday, saying that strong domestic consumption would increase growth and bring down its much-criticised trade ...

Standard Chartered reports $1.05 bn Q1 profit

Asia-focused bank Standard Chartered on Wednesday said its first quarter pre-tax profit nearly doubled compared to the same period last year, benefiting from the dampened ...

Santander gets boost from Brazil

Spanish banking giant Santander said Wednesday that its profits jumped in the first quarter, as a strong performance in Brazil offset weakness in Britain caused ...

Credit Suisse raises fresh capital, drops Swiss IPO

Credit Suisse said Wednesday it had launched a share issue aimed at raising some $4.0 billion to allay capital fears, and backtracked on plans to ...

No end in sight for Japan 'crisps crisis'

Legions of Japanese crisps addicts are suffering and it doesn't look like they'll be getting their full fix anytime soon. The country is in the ...

Hyundai Motor posts 21% drop in Q1 profit

South Korea's biggest automaker Hyundai Motor posted a 21 percent drop in first-quarter profits on Wednesday, hammered by the fallout from a diplomatic spat between ...

Netflix poised for elusive China breakthrough

Netflix has reached an agreement with a unit of internet giant Baidu that could see the US-based video-on-demand leader break into the massive China market, ...

Daimler revs up forecasts after powerful first quarter

World-leading luxury carmaker Daimler on Wednesday lifted its forecasts for 2017 after a roaring start to the year that outpaced analysts' expectations. At 2.7 billion ...

BHP copper output slumps, eyes shale sell off

Mining giant BHP Billiton reported a slump in copper output Wednesday as strike action at the world's largest mine for the metal dented production, while ...

Peugeot says car parts division drove sales in Q1

French auto giant PSA Peugeot Citroen, under investigation for allegedly cheating diesel pollution tests, said Wednesday that its car parts division Faurecia was the main ...

Luxury spenders defy Japan's tight-fisted reputation

Tight-fisted shoppers, unsteady economic growth and a shrinking population: Japan doesn't exactly fit the image of a spending powerhouse these days. But you would never ...

Cuban sugar burns to recapture sweet smell of success

A sweet smell of treacle used to fill the air in the village of Pedro Betancourt -- but like the workers from the derelict Cuba ...

Australia's sky-high household debt a ticking time bomb

Australians are racking up extreme levels of debt to buy homes that are among the world's most expensive, a ticking time bomb that could wreck ...

European shares up as US announces corporate tax cut

Europe's stock markets posted small gains Wednesday after they got, and liked, a first taste of US President Donald Trump's fiscal reform plan in the ...

'Guardians 2': 'Not as funny' but eyeing box office jackpot

Three years ago, "Guardians of the Galaxy" arrived as a breath of fresh air, a smart corrective to the self-important pomposity of many superhero movies, ...

US misunderstands NAFTA, North American business body says

The US government doesn't have a clear idea of what NAFTA covers, a business body representing several big North American multinationals said on Tuesday after ...

Trump's tax cut hopes face an uphill battle

Slash corporate taxes and hope the resulting bounce in economic growth brings in enough government revenue to stop the budget deficit from ballooning. This is ...

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