Thursday, 30 June 2016

Toyota recalls 3.37m cars

2016-06-30 JAPAN’S Toyota Motor Corp has recalled 3.37 million cars worldwide over possible defects involving airbags and emissions control units.The automaker yesterday said it was recalling 2.87 million cars over a possible fault in emissions control units...

First US chain hotel in a half-century opens in Cuba

2016-06-30 STARWOOD Hotels on Tuesday took over management of a luxury hotel in central Havana, becoming the first big American hospitality chain with a presence on the island since the Cuban Revolution a half-century ago.The newly-rechristened Cuba Four...

IN-BRIEF

2016-06-30 Vodafone says UK office in doubt after BrexitLONDON: British telecoms giant Vodafone warned yesterday that the future of its London-based headquarters is in doubt after voters chose to quit the European Union. EU membership has been important to...

Sony upbeat on games and robots but cuts outlook for image sensors

2016-06-30 JAPAN’S Sony Corp yesterday lifted the sales target for its games division next year on hopes for its new virtual reality headset, and said it would re-enter robots a decade after it last abandoned the business.But the electronics giant cut its...

World stocks build on post-Brexit rebound

2016-06-30 GLOBAL stock prices rose yesterday in a second day of recovery from a sharp-sell off prompted by Britain’s vote to leave the European Union.Asian markets led the way on hopes that authorities will unveil fresh stimulus to counter the effects of the...

Traders store oil ahead of refinery maintenance

2016-06-30 TWO trading houses, including commodities group Glencore, have chartered at least four tankers to store oil off Singapore, taking advantage of cheap freight and crude ahead of the refinery maintenance season that typically crimps demand.ST Shipping...

Mitsubishi to accept orders after correcting mileage

2016-06-30 MITSUBISHI is resuming sales of vehicles for which it had reported inflated mileage, after offering to compensate each buyer with 100,000 yen (US$960) to make up for the extra gas.Mitsubishi Motors Corp said yesterday that it will start accepting...

Wednesday, 29 June 2016

Oil rebounds on bargain hunting, Norway strike

2016-06-29 OIL prices rose two per cent yesterday as investors took advantage of a two-day slide in crude triggered by Britain’s vote to leave the European Union and as their focus returned to potential supply outages and drawdowns in crude.A looming strike...

EU leaders tell Britain to exit swiftly, market rout halts

2016-06-29 EUROPEAN leaders told Britain yesterday to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union, a move the IMF said could put pressure on global growth.Financial markets recovered slightly after...

Volkswagen reaches US$14.7b emissions settlement

2016-06-29 VOLKSWAGEN diesel owners can choose to either sell their car back to the company or get a repair that could diminish the vehicle’s performance under a settlement of claims tied to the German automaker’s emissions-cheating scandal.The settlement...

Tuesday, 28 June 2016

Osborne appeals for calm as companies eye move

2016-06-28 BRITAIN’S Treasury chief sought yesterday to ease concerns about the vote to leave the European Union, saying the economy is as strong as it could be to face the uncertainty — even as a survey showed many companies are looking to move business out...

Sterling, stocks slide on Brexit alarm

2016-06-28 BRITAIN battled to stop worldwide Brexit alarm yesterday but failed to prevent the pound crumbling to a three-decade low against the dollar as European shares took a fresh plunge.Asian markets had steadied a little after Britain’s June 23 vote to...

EU to move bank regulator from London

2016-06-28 THE EU is preparing to move its European Banking Authority from London following Britain’s vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator.Coming a day after Britain’s...

Monday, 27 June 2016

Panama Canal opens US$5b locks

2016-06-27 WITH a band playing and flags waving, a Chinese ship carrying more than 9,000 containers yesterday entered the newly expanded locks that will double the Panama Canal’s capacity in a multibillion-dollar bet on a bright economic future despite tough...

‘Risky trinity’ requires urgent global policy action

2016-06-27 GLOBAL economic policy urgently needs rebalancing, the Bank for International Settlements (BIS) said yesterday, as the world faces a “risky trinity” of high debt, low productivity growth and dwindling firepower at the world’s big central banks....

Plummeting British pound sparks concern about European tourism

2016-06-27 THE European tourism sector may be among the first to weather the storm after the sterling fell to a 31-year low amid the Brexit vote Friday. Statistics show that more than two thirds of British foreign travels are made to European Union (EU)...

Saturday, 25 June 2016

Central banks move to calm jittery currency markets

2016-06-25 SOME of the world’s biggest central banks offered financial backstops to soothe plunging markets yesterday after Britain voted to leave the EU, and some intervened in currency markets as they worried that the volatility could hit growth.The Bank of...

IN BRIEF

2016-06-25 THE China-backed Asian Infrastructure Investment Bank (AIIB) approved its first four loans totalling over half a billion dollars, it announced yesterday, as it joined forces with putative rivals to finance projects across Asia.The Beijing-based...

Brexit worries UK’s financial sector

2016-06-25 BRITAIN’S 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, leaving question marks over London’s status as Europe’s premier financial centre....

Friday, 24 June 2016

IN-BRIEF

2016-06-24 Maersk appoints new CEO, company could break upCOPENHAGEN: Danish shipping and oil group AP Moller-Maersk could be split up into separate companies, its chairman said yesterday after naming Soren Skou, the head of its container business, as chief...