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Monday, 19 May 2014

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...

Saturday, 17 May 2014

Armani boosts investments, sales

2014-05-17 ITALIAN fashion group Giorgio Armani plans to step up investment in its brands and store openings, the company said yesterday after reporting a 4.5 per cent rise in annual sales.The company owned by its eponymous founder spent 100 million euros (US...

Pfizer move on Astra threatens jobs

2014-05-17 SWEDISH ministers launched a fightback yesterday against US drugmaker Pfizer’s proposed takeover of AstraZeneca, which has half its roots and more than 5,000 staff in Sweden, highlighting the risks to jobs and science.Finance Minister Anders Borg...

Bailout ends but austerity stays for Portugal

2014-05-17 A THOUSAND days on from its near-economic collapse, Portugal is ready to stand on its own again and is promising not to go back to its bad old spend-happy ways. Today, after an internationally-mandated makeover, Portugal will become the second...

Friday, 16 May 2014

GM recalls 2.7m more cars

2014-05-16 GENERAL Motors recalled another 2.7 million cars yesterday, sending the company’s total of recalled vehicles in the US this year above 11 million and putting the auto industry on track to set a record for recalls in 2014. GM said the cars are...

‘Pfizer move on Astra threatens UK science’

2014-05-16 PFIZER’S potential takeover of AstraZeneca poses a threat to British science unless the US drugmaker can give more concrete, enforceable guarantees on jobs and investment, politicians scrutinising the deal said on Thursday.London-based AstraZeneca...

Hyundai eyes EU market

2014-05-16 HYUNDAI is preparing to enter the European commercial van market with a Turkish-built vehicle, a source said, adding to signs that Renault and PSA Peugeot Citroen could lose their grip on a lucrative part of the auto industry. The South Korean...

In Brief

2014-05-16 French economy hitsa wall in Q1PARIS: Weak consumer spending and business investment brought France’s economy to a standstill in the first quarter of the year, raising doubts over the government’s growth forecast and its pledge to meet EU deficit...

Bad weather hurts Wal-Mart

2014-05-16 WAL-MART’S fiscal first-quarter earnings declined 5 per cent as severe winter weather kept shoppers away from its stores and pushed operating expenses higher than expected.Its performance missed Wall Street’s expectations, and the world’s biggest...

Thursday, 15 May 2014

No TPP deal expected in S’pore

2014-05-15 PACIFIC trading partners are not expecting to reach a final agreement on an ambitious free trade pact at a ministerial meeting in Singapore next week, a senior US official said on Tuesday. A US-Japan summit last month had shaken the two countries...

Wednesday, 14 May 2014

Growth weakens in major emerging economies

2014-05-14 GROWTH is weakening in major emerging economies, the OECD said on Tuesday, while the recovery in the eurozone remains on track despite some signs of a slowdown in Germany.The OECD index of composite leading indicators (CLI) showed that growth...

OPEC sees balanced market in June

2014-05-14 OPEC said its current output is helping to meet global demand fully and leading to a balanced oil market in 2014, a further sign the exporter group is unlikely to alter output policy at a June meeting.In a monthly report on Tuesday, the...

E-commerce helps UK retailers

2014-05-14 MARKS & Spencer Plc is making a new push to expand abroad, hoping e-commerce will give Britain’s biggest clothing retailer a better chance to succeed than earlier attempts to enter new markets.It is one of several retailers that are using...

Malaysia expects fiscal deficit to decline to 3.5%

2014-05-14 THE Malaysia Federal Government’s initiatives to reduce the fiscal deficit continued to pick up pace and is expected to bear fruition and decline to 3.5 per cent this year from four per cent last yeer. The federal debt was projected to come in at...

IFSB eyes stronger implementation of Islamic finance standards

2014-05-14 THE Islamic Financial Services Board (IFSB) will release an updated 10-year industry roadmap next week as it places greater emphasis on the implementation of its standards with regulators around the globe.Guidelines from Kuala Lumpur-based IFSB,...

Tuesday, 13 May 2014

Falling demand spells rouble trouble

2014-05-13 RUSSIANS ditched the rouble in March at the fastest pace in more than four years, official data showed, as the currency was hit by fallout from the worst standoff with the West since the Cold War over Ukraine.Central Bank data showed late last week...

Pfizer defends AstraZeneca deal

2014-05-13 PFIZER defended the business case behind its plan to acquire AstraZeneca on Monday and questioned the UK drugmaker’s ability to stand alone for much longer as the New York-based group’s CEO prepared for a grilling from British lawmakers.Aiming to...

Swiss business fears world’s highest minimum wage

2014-05-13 SWISS business leaders shocked by past popular votes to cap executive pay and curb immigration are wary of a May 18 referendum that could see Switzerland adopt the world’s highest minimum wage of nearly US$25 an hour.A recent opinion poll by gfs....

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