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Wednesday, 28 May 2014

Financial crisis spurred spread of obesity in OECD countries

2014-05-28 THE 2008 financial crisis spurred obesity’s spread in the Organisation for Economic Cooperation and Development’s 34 member countries – most of whose inhabitants are overweight, an OECD report said yesterday.The grouping, which includes the world’s...

US safety regulators open probe of 200K Nissan cars for brake issue

2014-05-28 US SAFETY regulators have opened an investigation into an estimated 200,000 Nissan Motor Co cars in the United States for potential braking issues.The US National Highway Traffic Safety Administration opened a preliminary evaluation of the 2013 and...

Median CEO pay crosses US$10 million in 2013

2014-05-28 THEY’RE the US$10 million men and women.Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public company earned a record US$10.5 million, an...

Rio Tinto seals deal on US$20b mine in Guinea

2014-05-28 GLOBAL mining giant Rio Tinto yesterday said it has formalised an agreement with Guinea’s government to develop the world’s biggest untapped iron-ore deposit after years of wrangling over the US$20 billion deal.The penning of an investment...

IMF says Spain has ‘turned corner’

2014-05-28 THE IMF declared yesterday that Spain’s economic recovery is here to stay, hailing a return to growth and job creation despite the nation’s 26 per cent unemployment rate.“Spain has turned the corner,” the International Monetary Fund said in a...

IMF chief says banks haven’t changed since crisis

2014-05-28 THE head of the International Monetary Fund has warned that a persistent violation of ethics among bankers and rising inequality pose a major threat to growth and financial stability. Christine Lagarde told an audience in London that six years on...

Britain tops ranking of foreign investment destinations

2014-05-28 BRITAIN and Germany topped an annual ranking of foreign investment projects in Europe while France lagged behind though its numbers were on rise, a study showed on Tuesday.Retaining its top position, Britain saw the number of foreign investment...

Tuesday, 27 May 2014

Junta rushes to placate Thai rice farmers, boost economy

2014-05-27 THAILAND’S new military rulers are moving fast to tackle economic problems caused by the absence of a proper government since December and are making it a priority to pay arrears owed to rice farmers, big supporters of the government they ousted....

News Corp to publish newspapers for ‘decades and decades’

2014-05-27 THE head of Rupert Murdoch’s News Corp. yesterday said the group will be publishing newspapers for “decades” and hit out at the “morbid mindset” of those who say print is dead.Chief executive Robert Thomson, who oversees more than 100 newspapers...

BoJ ’s Iwata signals chance of withdrawing stimulus programme

2014-05-27 BANK of Japan Deputy Governor Kikuo Iwata signalled yesterday the possibility of withdrawing the central bank’s massive monetary stimulus if the economy overheats and nudges up inflation well above its 2.0 per cent price target.Iwata voiced...

German consumer confidence steady: survey

2014-05-27 CONSUMER confidence in Germany remains steady following recent gains, a new poll found yesterday. “Consumer sentiment remains in good shape this month. But, as in previous months, no clear trend is discernible,” market research company GfK said in...

Russian firm studying world’s largest coal-fired power plant to supply China

2014-05-27 RUSSIA’S RAO is studying the possibility of building the world’s largest coal-fired power plant to sell electricity to China in a sign of strengthening economic and political ties between the two countries.Boris Kovalchuk, head of the Russian...

Pfizer walks away from US$118b AstraZeneca takeover push

2014-05-27 PFIZER abandoned its attempt to buy AstraZeneca for nearly 70 billion pounds (US$118 billion) yesterday as a deadline approached without a last-minute change of heart by the British drugmaker.The decision ends a month-long public fight between two...

Airlines seek real-time tracking

2014-05-27 MAJOR airlines want real-time tracking for commercial aircraft following the disappearance of Malaysia Airlines flight MH370 and cost is not a concern, a senior official with the United Nations’ aviation agency said yesterday.The mystery...

S Korea, M’sia agree to use US$4.7m currency swap deal for trade

2014-05-27 SOUTH Korea and Malaysia have agreed to utilise their currency swap agreement worth around US$4.7 billion to boost the use of the won and ringgit, the Bank of Korea and the finance ministry said in a joint statement yesterday.Starting next month,...

Sony to sell PlayStation in newly opened China mart

2014-05-27 SONY will bring its PlayStation consoles to China through two joint ventures, the Japanese gaming giant and its Chinese partner both said yesterday, as they seek to tap a newly opened market.China in January formally authorised the domestic sale of...

China to scrap millions of cars in anti-pollution campaign

2014-05-27 CHINA plans to take more than five million ageing vehicles off the roads this year in a bid to improve air quality, with 330,000 cars set to be decommissioned in Beijing alone, the government said in a policy document published yesterday.Pollution...

Google, Facebook and wholesale retailer Costco ‘best employers’

2014-05-27 GOOGLE, Facebook and wholesale retailer Costco offer the best pay and benefit packages in the United States, according to employee ratings compiled by the US job site Glassdoor.Apart from Costco, whose generous social benefits stand out, four of...

Monday, 26 May 2014

Sanctions will make Russia trade with rouble

2014-05-26 WESTERN sanctions will galvanise Russia into using the rouble as a currency for international trade, the country’s prime minister Dmitry Medvedev said in an interview published on Saturday. “Trading for roubles - this is a definite priority,”...

ECB ready to act, but how much will it help?

2014-05-26 INVESTORS and analysts are nearly certain: The European Central Bank will take action at its next meeting to boost the tepid recovery.What’s not at all certain is how much good that can do.Any help is needed. The weak recovery in the 18 countries...

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