Business » World

Monday, 13 October 2014

WTO at a crossroads amid blocked trade deal

2014-10-13 WEAKENED by its failure in July to seal a key deal on a global customs pact amid continued wrangling with India, the World Trade Organisation is at a crossroads, observers say.“We are in a unique situation in the history of the organisation,” a...

Bad news for eurozone puts Germany in hot seat

2014-10-13 A RAFT of grim eurozone data this week alarmed financial markets and placed both Germany’s doctrine of budgetary rigour and European Central Bank’s monetary policy in the hot seat.A seemingly never-ending stream of gloomy numbers sent the stock...

Divergence of big central banks’ policies justified

2014-10-13 BANK of Japan Governor Haruhiko Kuroda said the divergence in monetary policy among the world’s four largest central banks is justified as they reflect differences in their economic situations.The Federal Reserve and the Bank of England are moving...

Saturday, 11 October 2014

Amazon set to open physical store

2014-10-11 AMAZON.COM Inc, the online juggernaut whose rapid expansion helped derail many a brick-and-mortar retail chain, may soon open its first physical store, at a prime site in Midtown Manhattan, according to The Wall Street Journal.Amazon plans to open...

IMF warns of eurozone recession

2014-10-11 THE International Monetary Fund (IMF) stepped up its warnings over a possible eurozone recession Thursday, pressing governments like Germany to spend more for reverse a stall.Worries about the eurozone stagnating were at the forefront as the...

Friday, 10 October 2014

WB: Global economy looks gloomy

2014-10-10 GLOBAL economic outlook is gloomier than six months ago, and there are a couple of dangerous signs that the economy could stall once again, the World Bank’s chief economist Kaushik Basu told Xinhua.Six months ago, economists believed the global...

Apple, world’s most valuable brand

2014-10-10   THE brand and logo of Apple has been named the most valuable in the world - worth nearly US$119 billion, or more than the entire gross domestic product of Morocco, Ecuador or Oman. The Silicon Valley firm, the world’s biggest company - with a...

Australia’s jobless rate edges up to 6.1%

2014-10-10 AUSTRALIA’S unemployment rate rose to 6.1 per cent in September, official data showed Thursday, as the statistics bureau revised down readings from previous months amid uncertainty over how the figures are calculated.Some 29,700 jobs were shed from...

Germany exports plunge raises risk of recession

2014-10-10 THE drumbeat of bad economic news for Germany continued Thursday, with the biggest monthly plunge in exports in five years raising the risk that Europe’s largest economy might slide into recession.Exports fell in August by 5.8 per cent over July,...

Thursday, 9 October 2014

World’s biggest banks to change derivatives market’s rules

2014-10-09 THE world’s biggest banks have agreed to change rules that govern the US$700 trillion derivatives market, the Financial Times reported on Tuesday.Eighteen banks, ranging from Credit Suisse Group AG to Goldman Sachs Group Inc, have agreed to give...

2-week pilots’ strike cost Air France US$632m

2014-10-09 STRUGGLING Air France Wednesday revealed that a record pilots’ strike last month cost around 500 million euros (US$632 million), in a dire profit warning that sent its stock price into a tailspin.The Air France-KLM group, Europe’s second-biggest...

In Brief

2014-10-09 EU’s incoming economic chief ready to fine France BRUSSELS: France's Pierre Moscovici, the EU commissioner-designate who will take charge of policing budget discipline in the euro zone, said he was ready to step up disciplinary action against Paris...

World economy menaced by too much financial risk

2014-10-09 THE world economy needs more productive investment and less in speculative assets, which in many cases are now overvalued and pose big stability risks, the International Monetary Fund said Wednesday.Jose Vinals, the IMF’s top financial counsellor,...

How mighty Samsung may join the fallen

2014-10-09 SAMSUNG Electronics has reported a 60 per cent slump in quarterly profits as the sudden decline in its mobile phone business draws comparisons with fallen rivals BlackBerry and Nokia. Having risen in just three years to dominate the hugely...

Wednesday, 8 October 2014

London underground staff to strike over jobs, ticket office closures

2014-10-08 London tube to strike over jobs, ticket office closuresLONDON: Workers on London’s underground train system will strike for 48 hours next week over plans to close ticket offices and cut jobs, union officials said. The walkout on the busy Tube...

IMF trims forecast for global economic growth

2014-10-08 THE International Monetary Fund slightly lowered its outlook for global economic growth this year and next, mostly because of weaker expansions in Japan, Latin America and Europe.The IMF said yesterday the global economy will grow 3.3 per cent this...

EU snags Amazon as tax deal probe widens

2014-10-08 THE EU snagged US Internet shopping giant Amazon yesterday in a widening probe into sweetheart tax deals for major multinationals, saying they were unfair to competitors and taxpayers.The move follows similar probes announced last month into US...

Tuesday, 7 October 2014

World’s richest donor nations fail to meet aid pledges

2014-10-07 THE majority of the world’s rich donor nations failed to meet their development aid pledges in 2013 and only one-third of the money went to the poorest countries, a report said on Monday.Aid by members of the OECD Development Assistance Committee (...

Gold sinks on robust US data

2014-10-07 GOLD touched its lowest level in more than 15 months on Monday as the US dollar held near four-year highs and European shares advanced after strong US jobs data, dampening appetite for bullion and pushing silver and platinum to multi-year lows....

London beats NY as most popular destination for international jobseekers

2014-10-07 LONDON is the most popular city in the world to work in, an international survey of more than 200,000 people found, with nearly one in six of those questioned wanting to move to the British capital to secure jobs.The study by The Boston Consulting...

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