Business » World

Tuesday, 15 December 2015

Shell to cut jobs after acquisition

2015-12-15 ROYAL Dutch Shell expects to slash thousands more jobs to save costs if its takeover of BG Group goes through as planned early next year following a final green light from China.The acquisition, which was announced on April 8 and is biggest in the...

Monday, 14 December 2015

Iran seeks leap in petrochemical

2015-12-14 IRAN is planning for a leap in its petrochemical industry following the possible lift of international and Western sanctions against its energy and financial sectors early next year, Iran’s Oil Minister Bijan Namdar Zangeneh said yesterday.Iran...

IMF must stay, Grexit risk not over, says bailout chief

2015-12-14 GREECE cannot remove the IMF from its economic bailout, the head of the EU’s rescue fund said yesterday, adding that the possibility of a Greek eurozone exit remains if reforms are neglected.“There has to be a financial contribution because the IMF...

‘Agreement critical for fighting climate change’

2015-12-14 MANAGING Director of the International Monetary Fund (IMF) Christine Lagarde acclaimed the Paris climate agreement adopted Saturday, urging different governments to honor commitments.“The Paris Agreement is a critical step forward for addressing...

Spain aims top in renewables

2015-12-14 A FORMER global champion of renewable energy, Spain wants to make up the ground it lost during the economic crisis when it reversed its policy slashing subsidies and decimating the sector.With roughly 300 days of sunshine per year and regions that...

Crimea faces long road to power security

2015-12-14 THE Kremlin is trying to reassure residents of Crimea, left in the dark after electricity supplies from Ukraine were cut off, that it is coming to their rescue by installing a power link with Russia.But the reality is that it will take many months...

Wal-Mart launches mobile wallet ‘Walmart Pay’

2015-12-14 WAL-MART Stores Inc launched its own mobile payment service ‘Walmart Pay’ on Thursday, potentially dealing a sharp blow to the ambitions of CurrentC, a beta-stage mobile wallet the company had been co-developing with a consortium of retailers....

Saturday, 12 December 2015

UK growth could suffer over Brexit vote: IMF

2015-12-12 A REFERENDUM on whether Britain should leave the European Union would create economic uncertainty, IMF chief Christine Lagarde said in a report yesterday, adding she hoped the country would remain in the bloc. “On a personal basis I’m very much...

Friday, 11 December 2015

‘Happy Birthday’ copyright settled

2015-12-11 A LAWSUIT over who owns the copyright to “Happy Birthday to You” has been settled, bringing to an end a two-year legal battle over what is said to be the most widely sung tune in the English language.The settlement announced Wednesday came days...

VW to introduce change

2015-12-11 VOLKSWAGEN has agreed on steps to improve oversight of engine-software development to avoid future manipulations after its admission of cheating US diesel-emissions tests caused the biggest business crisis in the German car firm’s history.VW said...

Airlines flying to reach US$33b profits

2015-12-11 LOW oil prices and healthy demand for travel, despite recent terror attacks hurting some destinations, will boost airline profits again in 2016, the International Air Transport Association (IATA) said on Thursday.IATA, which represents almost 260...

Japanese, Germanvehicles top US safest list

2015-12-11     A US safety group said Japanese and German automakers dominated the list of the safest vehicles on American roads, in part by adding advanced technology to prevent frontal collisions. The Insurance Institute for Highway Safety (IIHS), an...

Thursday, 10 December 2015

Volkswagen says emissions scandal not as bad as feared

2015-12-10 VOLKSWAGEN understated carbon dioxide emissions on many fewer vehicles than initially feared, it said yestersday, providing some relief to the automaker as it battles a wider diesel emissions scandal affecting up to 11 million cars.Europe’s biggest...

Greece eyes lion’s share of diverted Russian tourism

2015-12-10 ECONOMICALLY stricken Greece is racing to cash in on a potential bonanza of Russian tourists deprived of their favourite holiday destinations by a Kremlin boycott of Turkey and violence in Egypt, but it may be too expensive.Turkey’s shooting down...

Yahoo weighs sale of core business

2015-12-10 YAHOO Inc is weighing a sale of its core Internet business and will not sell its stake in Chinese e-commerce firm Alibaba Group Holding Ltd, CNBC reported.The moves represent a stark rejection of Chief Executive Officer Marissa Mayer’s plan to...

Wal-Mart’s China imports cost 400,000 US jobs in 12 years

2015-12-10 WAL-MART Stores Inc’s import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a US-based non-profit think tank.The world’s largest retailer likely accounted for 15.3 per...

Wednesday, 9 December 2015

Oil slides to near seven-year low

2015-12-09 OIL derivative traders are preparing for crude prices to fall further in the coming months, but few expect Goldman Sachs’ worst-case scenario of a drop to US$20 a barrel to happen any time soon. The options market indicates investors are braced...

Global stock marketsrocked for second day

2015-12-09 GLOBAL markets were rocked for a second day yesterday, as oil prices fell to their lowest since 2009 and huge declines in energy and mining shares left the world’s main stock indexes staring at heavy losses.A leap in Chinese commodity imports had...

Miners weigh on European shares, Anglo American hits record low

2015-12-09 EUROPEAN shares fell yesterday, with Anglo American slumping to a new record low after suspending its dividend and BHP Billiton slipping after a civil lawsuit seeking billion of dollars in damages.The STOXX Europe 600 Basic Resources sector fell 6....

10 euro zone states agree on some tax principles

2015-12-09 TEN euro zone countries agreed yesterday on some aspects of a harmonised tax on financial transactions and gave themselves until the middle of next year to reach agreement on remaining issues, including tax rates, the group said in a statement.A...

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