Business » World

Tuesday, 24 February 2015

HSBC says Swiss scandal has brought shame

2015-02-24 HSBC reported a 17 per cent fall in annual pretax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.Results from Europe’s biggest bank on Monday...

UK raises US$769m through Lloyds shares

2015-02-24 BRITAIN’S finance ministry has raised 500 million pounds (US$769 million) through the sale of a further one per cent stake in Lloyds Banking Group, cutting its holding to below 24 per cent.The sale moves Lloyds another step towards a full return to...

Monday, 23 February 2015

Finance minister: Greece to submit reforms list soon

2015-02-23 GREECE will submit a list of reforms to be agreed with its creditors Sunday, the country’s finance minister said Saturday.“We are in the process of compiling the list of reforms for the institutions,” finance minister Yanis Varoufakis told...

Deal reached for US West Coast ports, relief for trans-pacific trade

2015-02-23 A GROUP of shipping companies and a powerful dockworkers union reached a tentative labor deal after nine months of negotiations, settling a dispute that disrupted the flow of cargo through 29 US West Coast ports and snarled trans-Pacific maritime...

Shipping prices sink on oversupply, China slowdown

2015-02-23 FREIGHT shipping prices have plummeted to a historic low, fuelled by a long-standing problem of too many ships and lower demand from China, but experts cautioned against seeing it as a warning on the global economy.The Baltic Dry Index (BDI), which...

Fed rate rise timing back in the spotlight

2015-02-23 GREECE’S struggles with its eurozone creditors may have grabbed much of the world’s attention, but US Federal Reserve Chair Janet Yellen is likely to reclaim the spotlight this week with testimony on a long-anticipated shift in policy.If the Fed...

Tesla, Google, Apple: is electric future of the US car industry?

2015-02-23 IS THE future of the US car industry in Silicon Valley? After Tesla and Google, Apple appears to be readying for a plunge into the industry long rooted far away in the steel belt of the US upper Midwest. According to various media reports, the...

Coca-Cola bottler suspends operations in Mexican city

2015-02-23 COCA-COLA’S largest bottler in Mexico has temporarily suspended operations in the capital of the embattled state of Guerrero following attacks on its workers and its trucks.Alma Beltran, a spokeswoman for Coca-Cola Femsa SA, says the decision to...

Saturday, 21 February 2015

Yahoo to gain ad revenue from other mobile apps

2015-02-21 YAHOO is giving away a toolkit for managing mobile apps in a move aimed at reaping more revenue from smartphones and tablets as CEO Marissa Mayer scrambles to catch up to the Internet company’s rivals. The strategy will enable Yahoo Inc. to...

Global LNG: Asia languishes behind stronger Europe

2015-02-21 ASIAN spot liquefied natural gas prices remained at a discount to European prices, with limited fresh business being done in the world’s top consuming region, traders said on Friday.The price of spot LNG for April delivery held steady at US$6.70...

France, Germany, Japan in running for Aussie submarine deal

2015-02-21 AUSTRALIA on Friday said France, Germany and Japan were potential partners to design and build its next generation of submarines in what will be its biggest ever defence procurement programme.As Canberra seeks to replace its ageing Collins Class...

Gold down nearly 2% for the week

2015-02-21 GOLD rebounded and world shares weakened on Friday before a meeting of eurozone finance ministers that could put Greece on its way to exiting the bloc, but prices were still headed for their fourth straight weekly drop.Spot gold, lower initially,...

Friday, 20 February 2015

Adidas launches search for new CEO

2015-02-20 THE board of German sportswear company Adidas has launched a formal search for a successor to long-serving Chief Executive Herbert Hainer, who has faced calls from some investors to step down after his contract was extended to 2017.Hainer, in the...

Greece optimistic new debt loan proposal will be well recieved

2015-02-20 GREECE is due to make a formal request for a loan extension from eurozone finance ministers Thursday, declaring itself “optimistic” about a compromise plan despite EU scepticism and the spectre of a catastrophic “Grexit.”Athens was expected to send...

Air France-KLM speeds up cost cuts, curbs investments

2015-02-20 AIR France-KLM is accelerating cost cuts and deferring debt-reduction goals as pressure on revenue and a weak euro threaten to dampen the benefits of lower oil prices this year.Europe’s second-largest traditional network carrier, which issued three...

Europe set for LNG supply surge

2015-02-20 EUROPE is attracting twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian,...

Thursday, 19 February 2015

British jobless rate drops

2015-02-19 BRITAIN’S unemployment rate has descended to a new six-year low of 5.7 per cent while growth in wages outpaced inflation, official data showed on Wednesday, offering the government a lift before May elections.The jobless rate for October-December...

Swiss public prosecutor searches HSBC premises

2015-02-19 GENEVA’S public prosecutor searched the premises of HSBC Holdings PLC in Geneva on Wednesday and said it had opened a criminal inquiry into allegations of aggravated money laundering. “A search is currently under way in the premises of the bank,...

Greece to submit loan request to eurozone

2015-02-19 GREECE will submit a request to the eurozone today to extend a “loan agreement” for up to six months but EU paymaster Germany says no such deal is on offer and Athens must stick to the terms of its existing international bailout.The move, confirmed...

In Brief

2015-02-19 India vows to end status as top defence importer BANGALORE: Prime Minister Narendra Modi vowed yesterday to end India’s status as the world’s number one defence importer, saying he wanted 70 per cent of hardware to be manufactured domestically by...

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