Business » World

Thursday, 17 July 2014

BMW to raise China capacity to 400,000 cars

2014-07-17 BMW said yesterday it will raise capacity at its two Chinese plants by a third to 400,000 cars over the next two years, increasing its presence in the world’s largest auto market. Less than a month after extending its joint venture with Brilliance...

Microsoft Corp plans to cut 1,000 jobs in Finland

2014-07-17 MICROSOFT Corp is planning to cut 1,000 jobs in Finland from its mobile phone unit, a Finnish daily said yesterday, quoting anonymous sources.Some 25,000 Nokia workers moved this spring to Microsoft with the cellphone unit acquisition, 4,700 of...

Murdoch still eyeing Time Warner after rejection

2014-07-17 RUPERT Murdoch’s media conglomerate 21st Century Fox said yesterday it made a bid for rival Time Warner, but that no talks are ongoing after the bid was rejected.The bid, which would have combined two of the world’s biggest media-entertainment...

Airbus, Boeing climb close US$100b in airshow deals

2014-07-17 AIRBUS and Boeing climbed close to the US$100 billion mark for plane deals at the Farnborough Airshow yesterday, demonstrating healthy demand for new passenger jets despite concerns raised by their already record full order books. Recent profits...

In Brief

2014-07-17 Rolls-Royce hails AirAsia X’s selection of A330neoSINGAPORE: Rolls-Royce welcomes the decision by AirAsia X to select 50 Airbus A330-900neo aircraft powered by the newly-launched Trent 7000 engine. Rolls-Royce, President – Civil Large Engines, Eric...

Wednesday, 16 July 2014

Airbus nets US$25b in Farnborough plane orders

2014-07-16 EUROPEAN aircraft maker Airbus won orders for its passenger planes from leasing companies worth about US$25 billion at the Farnborough airshow yesterday, far outpacing its US rival Boeing. Airbus won memoranda of understanding for its new long-haul...

US retail sales rise modestly, automobiles decline

2014-07-16 US RETAIL sales increased less than expected in June as receipts at automobiles dealerships surprisingly fell, but details yesterday’s report suggested the economy was on a solid footing at the end of the second quarter.The Commerce Department said...

Google’s Nest launches network technology

2014-07-16 GOOGLE Inc’s Nest Labs yesterday unveiled an industry group to encourage makers of smart home gadgets like locks and light bulbs to use Thread, a new standard for devices to communicate on a network.The attempt by Nest, a smart thermostat maker...

Messaging app Line eyes US$9.8b Tokyo listing

2014-07-16 A SMARTPHONE messaging app set up in the aftermath of Japan’s 2011 quake-tsunami disaster has applied to list on the Tokyo stock exchange, in an offering that could be worth more than US$9.8 billion, a report said yesterday.Fast-growing messaging...

Microsoft expected to announce job cuts this week

2014-07-16 MICROSOFT Corp is planning its biggest round of job cuts in five years as the software maker looks to integrate Nokia Oyj’s handset unit, Bloomberg reported, citing people with knowledge of the company’s plans. The reductions, expected to be...

Singapore’s private home sales slide 73 per cent

2014-07-16 SALES of private homes by developers in Singapore fell 73 per cent in June compared with a year earlier, government data showed yesterday.Data compiled by the Urban Redevelopment Authority showed developers sold 482 units in June, compared with 1,...

China June bank loans beat expectations

2014-07-16 BEIJING stepped up efforts to re-energise China’s economy in June and avert a sharper slowdown, pumping more money into the system and pressing banks to extend more loans, but analysts say more stimulus will be needed to ensure a sustained recovery...

Bank of Japan holds off fresh stimulus

2014-07-16 THE Bank of Japan yesterday held fire on expanding its vast stimulus programme, saying the world’s number three economy was recovering despite taking a hit from April’s sales tax rise.However, policymakers slightly lowered the economic growth...

World Bank hails Philippines as next Asian ‘miracle’

2014-07-16 WORLD Bank president Jim Yong Kim yesterday described the Philippines as the next “Asian miracle” and a global model in fighting corruption, as it emerges from decades as a regional economic laggard.Kim said President Benigno Aquino should take...

Tuesday, 15 July 2014

Citi to pay US$7b to US Gov’t

2014-07-15 CITIGROUP Inc said it agreed to pay US$7 billion to settle a US government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. The settlement figure was more that twice what many analysts...

Big deals for new Airbus’ A330

2014-07-15 EUROPEAN planemaker Airbus kicked off the Farnborough Airshow on Monday with confirmation it would sell revamped versions of its A330 wide-body jet powered by Rolls-Royce Trent 7000 engines and offering 14 per cent fuel savings.Deliveries of the...

Monday, 14 July 2014

Grumbling foreign banks still bend to US rules

2014-07-14 FINANCIERS may grumble that the United States is acting like an imperial power in punishing foreign banks for dealings far beyond US territory, but in the end they are more likely to bow to Washington than kick against its dollar muscle.Last week,...

Britain plans to make foreign takeover rules strict

2014-07-14 BRITAIN plans to force foreign buyers of major British companies to make binding commitments on issues that are in the national interest such as investment in research, Business Secretary Vince Cable said on Sunday. This issue was raised earlier...

In Brief

2014-07-14 Swiss Lindt near deal to buy Russell StoverWASHINGTON: Swiss-based chocolate maker Lindt & Spruengli is in advanced discussions to acquire family-owned US candy business Russell Stover, and the two companies could announce an agreement as...

Saturday, 12 July 2014

IEA revises oil demand outlook on weaker growth

2014-07-12 THE International Energy Agency on Friday cut its forecast for 2014 oil demand to 92.7 million barrels a day due to weaker than expected global economic growth.The revised forecast shows a drop of 130,000 barrels a day from the IEA’s prediction a...

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