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Saturday, 24 May 2014

Japan gov’t ups capex view

2014-05-24 JAPAN’S government raised its view on capital spending for the first time in four months in May on the back of firms’ positive earnings, showing the economy remains resilient despite some negative impact from a sales tax hike last month.The...

Spain wins third credit upgrade as economy brightens

2014-05-24 STANDARD & Poor’s boosted Spain’s credit rating yesterday, hailing signs of economic recovery despite massive unemployment in the eurozone’s fourth-biggest economy. The agency was the third of the big credit raters to polish Spain’s financial...

Friday, 23 May 2014

Eurozone business activity slips

2014-05-23 EUROZONE business activity slipped slightly in May but held near a three-year high, suggesting a modest economic recovery remains on track, a closely watched survey showed yesterday. However the report also highlighted continuing problems for...

Thursday, 22 May 2014

GM adds 218,000 vehicles to growing recall list

2014-05-22 GENERAL Motors has added yet another recall to its growing list for the year. The recall of 218,000 Chevrolet Aveo subcompact cars is the company’s 29th this year, bringing the total number of recalled GM vehicles in the US to around 13.8 million...

Boeing sees strong demand for satellites

2014-05-22 BOEING Co , the world’s number one commercial satellite producer, says strong demand in the commercial market will help its satellite division weather a downturn in US defence spending and should continue to boost revenues in coming years....

Wednesday, 21 May 2014

Forced labour makes yearly US$150bn in illegal profits

2014-05-21 FROM sex workers to farm hands and maids, millions of forced labourers around the world generate US$150 billion in illegal profits for their bosses every year, the UN’s labour agency said yesterday. Nearly 21 million men, women and children are...

Growth in advanced countries slows: OECD

2014-05-21 ECONOMIC growth in Japan, Germany and Britain picked up strongly in the first quarter of the year, leading output in advanced countries which slowed down overall, the latest OECD data showed yesterday. But the US economy, the biggest in the world...

EU Commission charges 3 major banks with rigging

2014-05-21 EUROPEAN Union antitrust regulators charged Europe’s biggest bank HSBC, US peer JPMorgan and France’s Credit Agricole yesterday with rigging financial benchmarks linked to the euro, exposing them to potential fines.The European Commission also said...

Credit Suisse fined US$2.6b in tax case

2014-05-21 CREDIT Suisse AG’s guilty plea and US$2.6 billion payment in a high-profile case brought by the Justice Department are being held out as a warning to foreign banks believed to be helping US taxpayers conceal assets.Culminating a years-long criminal...

In Brief

2014-05-21 China rules out Windows 8 for government computersBEIJING: China’s government says it will avoid buying computer equipment that runs on Windows 8 in a setback for Microsoft’s efforts to promote the operating system. Yesterday’s announcement said...

Shell boss says refining assets still key despite weak profits

2014-05-21 ROYAL Dutch Shell will hold on to its refining business despite shedding many underperforming downstream assets, its chief executive said yesterday.The global refining sector has suffered over the past year from weak profit margins due to rising...

Tuesday, 20 May 2014

Vatican says bank needs 'corrective measures'

2014-05-20 THE Vatican's financial watchdog agency said Monday that “correc-tive measures” were necessary at the Holy See's troubled bank to continue the path toward financial transparency and compliance with international anti-money laundering norms....

Deutsche Bank turns to Qatar for raising capital

2014-05-20 DEUTSCHE Bank is turning to the Qatari royal family in a bid to raise 8.0 billion euros (US$11 billion) in fresh funding and assuage fears over its capital strength.Germany’s biggest lender unveiled late Sunday plans to implement the second-biggest...

AstraZeneca rejects Pfizer’s offer

2014-05-20 BRITAIN’S AstraZeneca on Monday rejected a sweetened and “final” offer from Pfizer , leaving it uncertain if the US drugmaker would pull off its plan to create the world’s biggest pharmaceuticals group. The rebuff came nine hours after Pfizer said...

Monday, 19 May 2014

Troubles for UK housing market

2014-05-19 BANK of England Governor Mark Carney gave his strongest warning to date about the risks of a housing bubble and said policymakers were looking at new measures to control mortgage lending.The British housing market has “deep, deep” structural...

Eurozone gold rush into resurrected eurobonds

2014-05-19 THE badly tarnished countries of southern Europe where investors dared not venture at the height of the debt crisis are now the focus of a rush into government bonds.These countries, in various stages of slow resurrection from near disaster, have...

Investors play it safe as doubt over economy rises

2014-05-19 WALL Street has caught a case of the jitters. Employers are hiring at their fastest pace, in two and a half years, the economy is expected to expand by a robust 3.5 per cent this quarter and corporate earnings have hit a record.But investors don’t...

China to reign supreme in world commodities in 2014: report

2014-05-19 GRAINS, metals, meat: these are just three of the commodities being sucked in by the voracious Chinese economy which is set to be the key driver on raw materials markets this year. French commodity research specialist Cyclope in a report published...

Intel’s CEO looks to hobbyists for wearable innovations

2014-05-19 INTEL Corp’s Chief Executive Officer Brian Krzanich mingled with electronics buffs at Silicon Valley’s annual maker mecca on Saturday as the chipmaker looks to amateur inventors to inspire a new wave of smart clothing.With sales of smartphones...

Future may be bitter for chocolate lovers, industry experts warn

2014-05-19 THE future may be bitter for chocolate lovers unless cocoa producers step up their output dramatically to satisfy an expected surge in demand from emerging market countries, an industry executive warns. Juergen Steinemann, head of Barry Callebaut...

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