Business » World

Monday, 26 January 2015

Workers in Europe’s oil hub hope for the best

2015-01-26 ON THE docks in Aberdeen, oil workers put a brave face on hundreds of job cuts linked to sinking crude prices while union leaders warn that the worst is yet to come. “It has happened before and it will happen again. There will probably be job...

Italy sees ECB bond buying plan as big boost

2015-01-26 THE European Central Bank’s bond buying programme will give a decisive boost to Italy’s stagnant economy, business lobby Confindustria said on Saturday, while the Bank of Italy said it would make it easier to pass reforms.The ECB announced on...

Investors put pressure on Standard Chartered boss to resign

2015-01-26 STANDARD Chartered’s two largest investors have told the bank’s chairman to find a replacement for Chief Executive Peter Sands within months, the Sunday Telegraph reported, without citing its sources.The newspaper said Temasek and Aberdeen Asset...

Saturday, 24 January 2015

Sony to delay earnings over cyberattack

2015-01-24 SONY said yesterday it was asking Japanese regulators for permission to delay the release of its earnings next month after a cyberattack at its Hollywood film unit compromised “a large amount of data” in its systems.The Japanese firm said its US-...

Li Ka-shing’s Hutchison to buy Telefonica UK unit

2015-01-24 LI KA-SHING’S Hutchison Whampoa Ltd has agreed to buy Telefonica’s British mobile unit O2 for up to 10.25 billion pounds (US$15.4 billion), as Asia’s richest man makes his boldest bet yet to revamp his European telecoms business.Hutchison already...

Fund manager basks in Xiaomi glow

2015-01-24   RICHARD JI, whose little-known fund was the biggest investor in leading Chinese smartphone maker Xiaomi Inc’s US$1.1 billion fundraising last month, is a numbers man looking to spot ‘category killers’ - start-ups with the power to disrupt. Ji,...

Friday, 23 January 2015

In Brief

2015-01-23 Philippines' Jollibee Foods keen on US$1b firmMANILA: The Philippines' Jollibee Foods Corp said on Thursday it was looking to acquire a US-based fast food company with a market value of US$1 billion, to boost revenue from offshore ventures....

Oil drops below US$49 after bond buying announcement

2015-01-23 BRENT crude oil fell below $49 a barrel on Thursday after the European Central Bank (ECB) said it would start buying government bonds, a move which could push the dollar to new highs and put downward pressure on commodities.Exceeding market...

Franc move was best option Swiss central bank says

2015-01-23 SWITZERLAND would have had to spend more than US$100 billion this month alone if it had continued efforts to hold down the value of its currency, a senior central bank official said Thursday.In a shock move a week ago, the Swiss National Bank...

ECB launches last-ditch programme to revive euro

2015-01-23 THE European Central Bank took the ultimate policy leap on Thursday, launching a government bond-buying programme which will pump hundreds of billions of new money into a sagging eurozone economy. The ECB said it would buy government bonds from...

Growth expected to slow in Gulf Arab oil states

2015-01-23 CHEAP oil will slow growth in most Gulf Arab economies this year but heavy spending by governments and healthy private sector activity will prevent any serious slump, a Reuters poll showed on Thursday. The poll of 17 economists, conducted over the...

Thursday, 22 January 2015

China central banker content with slower 2015 growth

2015-01-22 SOMEWHAT slower growth will allow a reforming Chinese economy to become more stable and should be good news, the head of China’s central bank said yesterday after the country announced its lowest expansion rate in 24 years.Zhou Xiaochoan, governor...

Oman oil minister criticises OPEC

2015-01-22 OMANI oil minister Mohammad bin Hamad al-Rumhy sharply criticised OPEC’s production policy yesterday, saying it was creating volatility in the market without benefiting oil producers and that his country was suffering. His comments, delivered at...

Top economists clash over ECB bond-buying

2015-01-22 TOP economists in Davos clashed yesterday over the impending decision by the ECB to buy up sovereign debt, an unprecedented measure to fight deflation that powerful Germany believes would merely allow overspending eurozone states to put off reforms...

Davos elite gather at WEF in shadow of attacks

2015-01-22 THE world’s political and business elite gather for their annual meeting in the glitzy Swiss ski resort of Davos from yesterday, with the shadow of recent attacks in France and ongoing global conflicts looming large.French President Francois...

Google, Fidelity fuel SpaceX with US$1b investment

2015-01-22 SPACEX has raised US$1 billion from Google and Fidelity in a deal that values the spaceship manufacturer at about US$10 billion.The infusion announced yesterday will give Google Inc and Fidelity Investments a nearly 10 per cent stake in SpaceX, a...

In Brief

2015-01-22 Portugal to repay IMF bailout loans earlyLISBON: Portugal will be able to repay IMF bailout loans early after regaining access to financial markets, Finance Minister Maria Luis Albuquerque announced yesterday. Six weeks after Ireland moved to get...

Wednesday, 21 January 2015

UN warns of growing inequality and unemployment

2015-01-21 UNEMPLOYMENT will rise by 11 million in the next five years due to slower growth and turbulence, the UN warned on Tuesday.More than 212 million people will be jobless by 2019 against the current level of 201 million, the International Labour...

Twitter buys mobile marketing startup ZipDial

2015-01-21 TWITTER Inc on Tuesday said it will buy Indian mobile phone marketing start-up ZipDial, reportedly for US$30 million to US$40 million, as the US microblogging service looks to expand in the world’s second-biggest mobile market.Bengaluru-based...

Facebook says it adds more than US$200b to global economy

2015-01-21 WITH 1.35 billion users of its Internet social network, Facebook Inc would rank as the world’s second-most populous nation if it were a country.While its users may populate only a virtual country, Facebook says it generates a lot of real economic...

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