Business » World

Monday, 30 March 2015

Australia makes move towards joining China-led bank

2015-03-30 AUSTRALIA said it will sign an agreement to become a prospective founding member of a China-backed infrastructure bank, but continued to express concerns about how the institution is governed.China and 20 other countries signed a memorandum of...

US economic growth decelerates, likely to slow further

2015-03-30 THE US economic growth decelerated in the fourth quarter of 2014 and is likely to slow further in the first quarter of 2015 despite robust consumer spending, the US Commerce Department said.The US economy expanded at an annual rate of 2.2 per cent...

Greek premier hopeful for ‘happy ending’ with EU

2015-03-30 GREEK Prime Minister Alexis Tsipras said in remarks published Sunday he hoped key talks with the debt-crippled country’s creditors would yield new financing and a “happy ending” in the standoff.Athens is set to present a list of economic reform...

Swiss Dufry to buy Italy’s WDF to create duty free giant

2015-03-30 SWITZERLAND’S Dufry group will acquire majority stake in chief rival World Duty Free (WDF) in a US$3.8 billion (3.6 million euro) deal to create the biggest travel retailer in the world.The Basel-based company will shell out 10.25 euros per share...

Anticipation and angst as Europe ends milk quotas

2015-03-30 EUROPEAN dairy farmers are facing the end of three decades of milk quotas on Wednesday with a mixture of anticipation and angst as it will allow them to serve growing demand in emerging markets, but could also cause a crash in prices.Starting April...

Indian companies scramble to find women directors

2015-03-30 AS INDIAN companies scramble to meet a deadline to appoint women to their boards, some wealthy business owners have a solution that meets the letter if not the intention of the law: appointing their wives.India’s market regulator, the Securities...

Saturday, 28 March 2015

Infrastructure firms to benefit from AIIB membership: S Korea

2015-03-28 SOUTH Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday. Shares in some South Korean iron and steel products makers rose...

Friday, 27 March 2015

Ford to triple exports from India plant

2015-03-27 FORD Motor Co plans to triple exports from India with a US$1 billion plant that will be one of its most heavily automated in Asia, offsetting slower sales inside the country with a push to sell more local production abroad.The factory, opened on...

In Brief

2015-03-27 Jaguar Land Rover toinvest US$894mLONDON: Indian-owned luxury car manufacturer Jaguar Land Rover announced a £600 million (US$894 million) investment in advanced car manufacturing in Britain on Thursday. The British car brand, which was bought by...

Thursday, 26 March 2015

Kraft, Heinz to form North America’s No 3 food company

2015-03-26 KRAFT Foods Group Inc, the maker of Velveeta cheese, will merge with ketchup maker HJ Heinz Co, owned by 3G Capital and Warren Buffett’s Berkshire Hathaway Inc, to form North America’s third-largest food and beverage company.Kraft’s shares rose 34...

Spain’s Telefonica sells O2 to Hutchison for £10.25b

2015-03-26 SPAIN’S Telefonica said on Tuesday it would sell British telecom giant O2 to Hong Kong group Hutchison Whampoa for £10.25 billion in a deal that could create Britain’s biggest mobile phone firm.“A definitive agreement has been reached after the...

EU to impose anti-dumping duties on China steel

2015-03-26 THE European Union will impose punitive anti-dumping duties from Thursday on imports of stainless steel cold-rolled sheet from China and Taiwan, according to a notice on Wednesday in the EU’s Official Journal.The EU will apply tariffs of about 24-...

Brent oil rises as eurozone business morale improves

2015-03-26 BRENT oil prices firmed on Wednesday as business morale in the euro zone’s top two economies improved, offsetting concerns about oversupply that has filled fuel storage tanks around the world.Germany, Europe’s largest economy, saw business morale...

US business spending gauge tumbles

2015-03-26 US business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, which could see economists further lower their first-quarter growth estimates.The Commerce Department...

Australia to join Asia infrastructure bank if conditions met: Abbott

2015-03-26 AUSTRALIA will join a China-backed infrastructure bank if conditions such as multilateral and transparent governance are met, Prime Minister Tony Abbott (pic) said on Wednesday, flagging an announcement “in the next few days.”China and 20 other...

Wednesday, 25 March 2015

Lufthansa, Airbus shares slide on French Alps plane crash

2015-03-25 SHARES in European planemaker Airbus and German airline Lufthansa tumbled after a plane in its low-cost division Germanwings crashed in the French Alps on Tuesday, with all 150 people on board feared killed. The Airbus A320 jet, on its way from...

Eurozone business growth picks up as ECB QE kicks in

2015-03-25 BUSINESS activity in the eurozone has accelerated much faster than thought this month, in a sign the European Central Bank’s bond buying programme may already be paying dividends, a survey showed on Tuesday.Any indication of a pickup will cheer ECB...

Leaving EU would be ‘disastrous’ for Britain

2015-03-25 LEAVING the European Union would be disastrous for Britain and harm its economy, Standard Life Chairman Gerry Grimstone said on Tuesday.“It would be disastrous for London and the UK if the UK were to leave the single market,” Grimstone told a...

In Brief

2015-03-25 ‘Clash of Clans’ game maker says profit doubled HELSINKI: Finnish mobile game company Supercell reported on Tuesday that its core profit doubled and sales tripled last year on the back of profitable hit games ‘Clash of Clans’, ‘Hay Day’ and ‘Boom...

Oil below US$56 as China economy slows down

2015-03-25 BRENT crude oil held below US$56 a barrel on Tuesday, as signs of slowing growth in China and Saudi Arabian oil production close to an all-time high overshadowed a weaker dollar.Brent futures for May delivery were trading down 16 cents at US$55.76...

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