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Saturday, 1 February 2014

Honda: Auto demand in emerging markets cooling

2014-02-01 HONDA Motor Co warned auto demand is cooling in emerging markets and especially Southeast Asia, but Japan’s third-biggest carmaker remained upbeat about its prospects and said it aims to sell a record 4.5 million vehicles or more in 2014.Honda said...

VW now number 2 car maker

2014-02-01 VERMANY’S Volkswagen overtook US rival General Motors to become the world’s second-biggest car maker after Japanese giant Toyota, last year sales figures showed on Friday.The German group said that it sold a total of 9.73 million vehicles in 2013....

Small Indian cars fail 1st crash test

2014-02-01 THE Tata Nano, billed as the world’s cheapest car, and a host of other top-selling small models from India have failed their first independent crash tests, a global safety group said Friday.The five entry-level vehicles – including the country’s...

Small Indian cars fail 1st crash test

2014-02-01 THE Tata Nano, billed as the world’s cheapest car, and a host of other top-selling small models from India have failed their first independent crash tests, a global safety group said Friday.The five entry-level vehicles – including the country’s...

Japan consumer prices rise for 1st time in 5 years

2014-02-01 JAPANESE consumer prices saw their first annual rise for five years in 2013, but the jump was largely driven by soaring energy import bills, dampening hopes that Tokyo is winning its war on stubborn deflation.Friday’s inflation data, despite...

Friday, 31 January 2014

Lenovo eyes smartphone market with Motorola acquisition

2014-01-31 AN EXPENSIVE mistake by Google could turn into a golden opportunity for China’s Lenovo Group as it expands beyond its success in the personal computer industry. Google is ridding itself of a financial headache by selling Motorola Mobility’s...

Shell plans spending cuts, asset disposal

2014-01-31 ANGLO-DUTCH oil company Royal Dutch Shell plans to sell assets, cut spending and freeze a controversial Arctic drilling programme to improve returns after a major profit warning.Just a month into his new job as chief executive of the world’s No 3...

Thursday, 30 January 2014

In Brief

2014-01-30 Thai govt seeks US$3.95bto fund rice schemeBANGKOK: The Thai government, struggling to fund a controversial rice-buying scheme, will seek bridging loans of 130 billion baht (US$3.95 billion) to pay farmers who have been waiting months for their...

Yahoo revenue goes down

2014-01-30 YAHOO reported on Tuesday that its quarterly profit jumped at the end of last year, but revenues sank in a troubling sign for the struggling Internet pioneer.The California firm reported profit up 28 per cent to US$348 million in the fourth quarter...

South Africa raises rates to support rand

2014-01-30 SOUTH Africa’s Reserve Bank announced a shock rise of half a percentage point in its main interest rate yesterday, amid sustained pressure on the rand and rising inflation. The key rate now stands at 5.5 per cent, the highest it has been since July...

Fiat cuts 2014profit forecast

2014-01-30 ITALIAN automaker Fiat has cut its 2014 profit guidance just after taking full control of US unit Chrysler, as a cooling of its large Latin American market eroded earnings. Fiat yesterday reported fourth-quarter results below analyst expectations...

Turkey hikes interest rates

2014-01-30 TURKISH Finance Minister Mehmet Simsek played down the impact on growth of a sharp hike in interest rates yesterday, saying the economy would have suffered greater damage from a loss of faith in the central bank.The bank raised all its key interest...

Dubai airport traffic rises by 15.2 % in 2013

2014-01-30 PASSENGER flows through Dubai’s main airport, the world’s second busiest for international traffic, jumped 15.2 per cent in 2013 thanks to expansion of its route network and the use of wide-body planes, airport authorities said yesterday....

Drought-hit Aussie cattle farmers set for rains

2014-01-30 AUSTRALIAN cattle farmers will receive much-needed rains in the next two days, forecasters said yesterday, offering some relief to ranchers struggling to keep animals alive during a period of prolonged drought in the world’s No3 beef exporter. The...

EU unveils reforms for ‘too-big-to-fail’ banks

2014-01-30 THE EU unveiled long-awaited plans to rein in the “too-big-to-fail” banks yesterday in what the bloc said was the final step towards preventing a repetition of the 2008 banking crisis. The reforms, affecting about 30 of the biggest banks, would...

Sainsbury’s CEO King to step down

2014-01-30 JUSTIN King (pictured) will step down as chief executive of British grocer J Sainsbury in July after a decade at the helm, with the firm opting for continuity by choosing commercial director Mike Coupe as his successor. The company said King, who...

Wednesday, 29 January 2014

Candy Crush developer trademarks ‘Candy’

2014-01-29 THE British videogame maker behind Candy Crush Saga, the madly addictive game played by millions of people each day, has defended its decision to trademark the word “Candy” in the European Union.King made the move last year and has also filed for a...

WB invests in online retail firms

2014-01-29 THE World Bank’s private-sector arm is investing up to 25 million euros (US$34.18 million) in two online retailers, Lamoda in Russia and Dafiti in Latin America, the latest fundraising success for German venture capital firm Rocket Internet.The...

Britain posts fastest annual growth since pre-crisis

2014-01-29 BRITAIN’S economy grew at the fastest rate last year since before the financial crisis but output dipped in the final quarter of 2013, official data showed yesterday. Gross domestic product expanded by 1.9 per cent in 2013, the biggest expansion...

Spain upgrades economy outlook, jobs uncertain

2014-01-29 SPAIN’S government upgraded the economic growth outlook for 2014 yesterday as the nation shook off five years of stop-start recession that have pushed the unemployment rate above 26 per cent.Economy Minister Luis de Guindos told reporters in...

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