Business » World

Wednesday, 9 March 2016

Big US fines will hit workers’ jobs: VW

2016-03-09 VOLKSWAGEN may have to cut jobs in the United States as well as Europe and other countries depending on how big a fine has to be paid for its manipulation of diesel emissions tests, the carmaker’s top labour official told a meeting of 20,000...

Mideast carriers lead strong aviation start into 2016

2016-03-09 AIRLINERS from the Middle East posted a 10.9 per cent increase in January on year in passenger demand, the highest surge among all regions, International Air Transport Association (IATA) said Tuesday. The IATA said global passenger traffic results...

Tuesday, 8 March 2016

Total, Eni bet on new finds

2016-03-08 AS OIL firms slash billions of dollars of investment to survive the market crash, France’s Total and Italy’s Eni are making some of the smallest cuts, gambling in the hope of big-ticket discoveries that will reward them when prices recover.Both...

Row over nuclear plant alarms investors

2016-03-08 THE resignation of French energy giant EDF’s finance chief sent its shares plunging Monday as concerns grew over the risks of its plan to build a next-generation nuclear plant in Britain.Thomas Piquemal (pic) quit after a disagreement within EDF...

US court affirms ruling in Apple e-books case

2016-03-08 THE US Supreme Court on Monday upheld a ruling that Apple was part of a price-fixing conspiracy for electronic books, clearing the way for a US$450 million settlement to be paid.The top court declined without comment to hear an appeal from Apple,...

Oil jumps as sentiment up, analysts warn of glut

2016-03-08 OIL prices extended gains on Monday that have lifted crude benchmarks by more than a third from this year’s lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery. Front-month Brent crude...

VW says wrongfooted by US going public on emissions

2016-03-08 EMBATTLED German automaker Volkswagen believed it could clear up emissions-cheating allegations with US authorities amicably and was caught offguard by them going public instead, a key company document revealed Monday. “The public announcement of...

Monday, 7 March 2016

Low oil prices put strains on Gulf currency pegs

2016-03-07 WEAK oil prices pose a threat to Gulf Arab states’ currency pegs against the dollar, but the energy-rich region is unlikely to abandon the policy yet, analysts say. Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates all keep the...

VW chairman, CEO knew of defeat devices early: Bild

2016-03-07 VOLKSWAGEN AG’s current chairman and chief executive were alerted by the carmaker’s former CEO to the use of illicit emissions-control software in the United States two weeks before the carmaker disclosed the scale of its manipulations, Bild am...

Faith in central banks’ healing powers faltering

2016-03-07 FINANCIAL markets’ shaky start to the year shows they are losing faith in the “healing powers” of central banks, the Bank for International Settlements (BIS) said yesterday while voicing concerns over sub-zero interest rates and emerging economies...

Saturday, 5 March 2016

Oil industry spending cuts to hit production outlook

2016-03-05 THE oil industry cut investment spending by more than US$100 billion last year and another round of major cuts this year is expected to hit the production outlook, the International Energy Agency’s chief economist said on yesterday.Laszlo Varro...

US trade deficit swells in January

2016-03-05 THE US trade deficit grew more than expected in January as exports fell more sharply than imports amid a slowing global economy, Commerce Department data released 7yesterday showed. The trade gap rose 2.2 per cent to US$45.7 billion in January,...

On Wall Street, fears of a Trump presidency

2016-03-05 AT FIRST glance, Donald Trump is everything Wall Street likes - a billionaire whose real estate empire has provided huge business for banks, and whose luxury towers house the rich and famous. But his surprise success in the fight to win the...

US payrolls surge, boost Fed rate hike prospects

2016-03-05 US EMPLOYMENT gains surged in February, the clearest sign yet of labour market strength that could further ease fears the economy was heading into recession and allow the Federal Reserve to gradually raise interest rates this year.Nonfarm payrolls...

Friday, 4 March 2016

IN-BRIEF

2016-03-04 Emirates postpones launch of world’s longest flightPANAMA CITY: Emirates Airline, which was scheduled to launch what it called the world’s longest non-stop flight this month between Dubai and Panama City, said Wednesday it was postponing those...

Apple’s new office could be tool in tech talent wars

2016-03-04 FROM Apple’s earliest days, executives insisted that employees work from its headquarters in sleepy suburban Cupertino. The thinking, championed by Steve Jobs, was that a centralised campus would put the CEO “within walking distance of everyone,”...

US jobless claims rise amid firming labour market

2016-03-04 THE number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labour market.Initial claims for state unemployment benefits increased 6,000 to a seasonally...

Thursday, 3 March 2016

IN-BRIEF

2016-03-03 Sabah hails partnership with China’s HuaweiKOTA KINABALU: Sabah welcomed its partnership with telecommunications equipment and services giant, Huawei, which will help the state develop its information and communications technology (ICT) sector with...

Agency aims to outdo Tesla with higher tech

2016-03-03 A WING of the US Department of Energy focused on breakthrough technologies may soon give billionaire entrepreneur Elon Musk’s most recent foray into energy storage a run for its money, the unit’s director said.Advanced Research Projects Agency-...

Shell faces fresh pollution claims in London

2016-03-03 OIL giant Royal Dutch Shell came under renewed scrutiny on Wednesday over its environmental record in Nigeria after lawyers brought fresh claims of damage caused by spills to a London court.British legal firm Leigh Day has filed two cases at the...

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