Thursday, 26 May 2016

Toyota, Uber join forces in ride-hailing rush

2016-05-26 TOYOTA Motor Corp said it would invest in on-demand ride-hailing company Uber, the latest in a wave of high-profile moves by automakers to embrace their potential upstart rivals as partners, customers and sources of valuable data.The strategic...

In Brief

2016-05-26 Shell to cut at least another 2,200 jobs globallyLONDON: Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry. The losses are in addition to cuts already being...

Oil nears US$50 a barrel

2016-05-26 OIL rose towards US$50 a barrel yesterday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in US inventories. A...

Singapore bourse in talks to buy London’s Baltic Exchange

2016-05-26 THE Singapore Exchange (SGX) is in exclusive talks with the London’s Baltic Exchange about buying the centuries-old shipping industry hub, sources said yesterday.The advance talks do not mean a sale is guaranteed, said the sources, who declined to...

HP Enterprise plans US$8.5b spinoff, merger

2016-05-26 US TECHNOLOGY group Hewlett Packard Enterprise said it plans to spin off and merge its corporate services business in a deal valued at US$8.5 billion.The split-off unit is to be merged with Computer Sciences Corp to create a global corporate...

Wednesday, 25 May 2016

Adidas to resume shoe production in Germany

2016-05-25 ADIDAS will launch mass production of running shoes at a German factory operated largely by robots next year and plans to open a similar plant in the United States also next year, the company said yesterdayFounded by German cobbler Adi Dassler in...

Investment banks suffer worst first quarter since financial crisis: Survey

2016-05-25 REVENUE at the world’s 12 largest investment banks fell 25 per cent in the first quarter from a year ago as economic uncertainty and investor caution led to the slowest start since the financial crisis, a survey showed yesterday.Investment banks...

Shell CEO warns renewables shift could spell end if too swift

2016-05-25 ROYAL Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group’s chief executive warned. Major investors, including Dutch pension fund PGGM, have...

Eurozone leaders push for Greece debt deal

2016-05-25 EUROZONE finance ministers said they hoped to unlock vital bailout cash for Greece yesterday, but warned of tough talks on debt relief that the IMF has demanded as the price for staying with the programme. The 19 ministers from the countries that...

Tuesday, 24 May 2016

Bayer targets GM giant Monsanto in biggest German takeover bid

2016-05-24 GERMAN chemicals giant Bayer said Monday it had offered US$62 billion for US agriculture group Monsanto as it seeks to create the world’s biggest supplier of seeds, pesticides and genetically-modified crops. In the biggest takeover ever attempted...

Ryanair predicts slower profits growth

2016-05-24 IRISH no-frills airline Ryanair yesterday forecast rising annual profits on higher traffic and lower fuel prices but at a slower rate than its last financial year. The company said net profit was set to rise by around 13 per cent in the 12 months...

Petrol runs short as French protests block refineries

2016-05-24 PETROL shortages caused long tailbacks of motorists in parts of France yesterday, as protesters angry over government labour reforms blockaded some of the country’s oil refineries and fuel depots. The action was the latest in three months of...

Monday, 23 May 2016

Strikes bring shortages in hundreds of French petrol stations

2016-05-23 HUNDREDS of petrol stations faced shortages in France on Saturday as protests over a labour law reform led to a fall in refinery output and blockades that hampered fuel supply and prompted consumer panic. France has been hit by a wave of strikes...

IMF: Japan monetary easing has benefits for Asian economies

2016-05-23 JAPANS’s extraordinarily easy monetary policy, a source of friction with the United States for pushing the yen’s value down, has had some positive effects on emerging Asian economies, including increased growth and equity prices, International...

H&M says working to improve labour conditions in factories

2016-05-23 SWEDISH fashion retailer Hennes & Mauritz (H&M) said it was collaborating with trade unions, government as well as the UN to improve workers’ conditions after a study found violations in supplying garment factories in India and Cambodia....

Tech giants battle for supremacy

2016-05-23 AT the top of the corporate world, Apple and Google are in a back-and-forth battle to be number one. It’s not clear which of the two Silicon Valley giants will emerge on top in a contest which highlights the contrast of very different business...

Bondholders sue over Puerto Rico debt-moratorium law

2016-05-23 HOLDERS of bonds from Puerto Rico’s Government Development Bank are suing to challenge aspects of a debt-moratorium law that island officials say is crucial to maintaining essential services as the US territory struggles under a nearly US$70...

Greece to adopt more cuts, tax hikes for bailout cash

2016-05-23 GREECE yesterday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation. After waves of protests over a string of unpopular reforms, lawmakers...

Saturday, 21 May 2016

Oil price eases as focus returns to oversupply

2016-05-21 OIL prices slipped yesterday as investors cashed in on recent gains and focus shifted again to swelling global inventories that have cushioned impact from a series on unplanned supply outages. Global benchmark Brent crude prices traded down 23...

Apple unveils new store design in San Francisco

2016-05-21 APPLE Inc unveiled a new vision for its hugely successful retail stores on Thursday, aiming to give shoppers the experience of setting foot in the headquarters of the company credited with inventing the smartphone.Speaking at a media event in San...