Business » World

Thursday, 30 January 2014

Yahoo revenue goes down

2014-01-30 YAHOO reported on Tuesday that its quarterly profit jumped at the end of last year, but revenues sank in a troubling sign for the struggling Internet pioneer.The California firm reported profit up 28 per cent to US$348 million in the fourth quarter...

South Africa raises rates to support rand

2014-01-30 SOUTH Africa’s Reserve Bank announced a shock rise of half a percentage point in its main interest rate yesterday, amid sustained pressure on the rand and rising inflation. The key rate now stands at 5.5 per cent, the highest it has been since July...

Fiat cuts 2014profit forecast

2014-01-30 ITALIAN automaker Fiat has cut its 2014 profit guidance just after taking full control of US unit Chrysler, as a cooling of its large Latin American market eroded earnings. Fiat yesterday reported fourth-quarter results below analyst expectations...

Turkey hikes interest rates

2014-01-30 TURKISH Finance Minister Mehmet Simsek played down the impact on growth of a sharp hike in interest rates yesterday, saying the economy would have suffered greater damage from a loss of faith in the central bank.The bank raised all its key interest...

Dubai airport traffic rises by 15.2 % in 2013

2014-01-30 PASSENGER flows through Dubai’s main airport, the world’s second busiest for international traffic, jumped 15.2 per cent in 2013 thanks to expansion of its route network and the use of wide-body planes, airport authorities said yesterday....

Drought-hit Aussie cattle farmers set for rains

2014-01-30 AUSTRALIAN cattle farmers will receive much-needed rains in the next two days, forecasters said yesterday, offering some relief to ranchers struggling to keep animals alive during a period of prolonged drought in the world’s No3 beef exporter. The...

EU unveils reforms for ‘too-big-to-fail’ banks

2014-01-30 THE EU unveiled long-awaited plans to rein in the “too-big-to-fail” banks yesterday in what the bloc said was the final step towards preventing a repetition of the 2008 banking crisis. The reforms, affecting about 30 of the biggest banks, would...

Sainsbury’s CEO King to step down

2014-01-30 JUSTIN King (pictured) will step down as chief executive of British grocer J Sainsbury in July after a decade at the helm, with the firm opting for continuity by choosing commercial director Mike Coupe as his successor. The company said King, who...

Wednesday, 29 January 2014

Candy Crush developer trademarks ‘Candy’

2014-01-29 THE British videogame maker behind Candy Crush Saga, the madly addictive game played by millions of people each day, has defended its decision to trademark the word “Candy” in the European Union.King made the move last year and has also filed for a...

WB invests in online retail firms

2014-01-29 THE World Bank’s private-sector arm is investing up to 25 million euros (US$34.18 million) in two online retailers, Lamoda in Russia and Dafiti in Latin America, the latest fundraising success for German venture capital firm Rocket Internet.The...

Britain posts fastest annual growth since pre-crisis

2014-01-29 BRITAIN’S economy grew at the fastest rate last year since before the financial crisis but output dipped in the final quarter of 2013, official data showed yesterday. Gross domestic product expanded by 1.9 per cent in 2013, the biggest expansion...

Spain upgrades economy outlook, jobs uncertain

2014-01-29 SPAIN’S government upgraded the economic growth outlook for 2014 yesterday as the nation shook off five years of stop-start recession that have pushed the unemployment rate above 26 per cent.Economy Minister Luis de Guindos told reporters in...

Tuesday, 28 January 2014

Europe treads softly in challenging big banks’ power

2014-01-28 EUROPE will consider how to challenge the dominance of its big banks this week, but any new rules to isolate risky trading will take years to begin and there will be no attempt to split off market betting from deposit taking.In a blueprint expected...

Euro chief says no contagion from emerging markets

2014-01-28 THE eurozone’s recovery will not be affected by contagion from growing fears over emerging economies, Eurogroup chief Jeroen Dijsselbloem said on Monday.“I think they’re quite different, separate issues,” Dijsselbloem told reporters ahead of a...

Ford to unveil new compact car at Indian show

2014-01-28 FORD Motor Co will showcase a global compact concept car at the New Delhi auto show next month, highlighting a design direction that could spearhead the company’s efforts to tap growing demand for small cars in India and other emerging markets.The...

Russia bans Australia beef products

2014-01-28 RUSSIA yesterday imposed a ban on Australian beef byproducts such as offal over the use of a growth stimulant allowed in some nations but that Moscow considers unsafe.The temporary restrictions also affect Belarus and Kazakhstan – two ex-Soviet...

US’ AT&T rules out bid for Britain’s Vodafone for now

2014-01-28 US MOBILE group AT&T has ruled out a bid for Britain’s Vodafone for now, with banking sources saying a US spying scandal and a surge in European telecom shares may have disrupted a deal that many think could still happen. AT&T, the second-...

Samsung to pay Ericsson US$650m plus royalties to end patent dispute

2014-01-28 SAMSUNG Co will pay Ericsson US$650 million along with years of royalties to end a technology licence spat, the Swedish company said yesterday. The world’s No 1 mobile network equipment maker sued Samsung in 2012 on the grounds that the Korean...

Google buys artificial intelligence startup DeepMind

2014-01-28 GOOGLE said yesterday that it had agreed to buy British artificial intelligence start-up company DeepMind for an undisclosed amount. “I can confirm that the acquisition has indeed gone ahead but unfortunately we are not commenting beyond that for...

Monday, 27 January 2014

In Brief

2014-01-27 Coke: Stolen laptops had info of 74,000 peopleNEW YORK: Coca-Cola said Friday that laptop computers stolen from its Atlanta headquarters held the personal information of up to 74,000 people. The company has recovered the laptops and spokeswoman Ann...

Pages


Feel free to comment on this article using your Facebook account. By submitting your comment, you agree to the Terms and Conditions for the use of this comments feature, as stated here.