Business » World

Tuesday, 16 September 2014

Apple medical trials shed light on HealthKit

2014-09-16 TWO prominent US hospitals are preparing to launch trials with diabetics and chronic disease patients using Apple Inc’s HealthKit, offering a glimpse of how the iPhone maker’s ambitious take on healthcare will work in practice.HealthKit, which is...

British mobile phone retailer collapses

2014-09-16 BRITISH mobile phone retailer Phones 4U has collapsed into administration, putting more than 5,500 jobs at risk, the group said yesterday.The company said in a statement that it was forced into administration, or a stage aimed at preventing a total...

OECD chops growth forecasts

2014-09-16 THE OECD slashed its growth forecasts for major developed economies yesterday, urging much more aggressive ECB stimulus to ward off the risk of deflation in a subdued euro zone. The call adds to growing pressure on the eurozone, and the European...

Air France strike sparks travel chaos

2014-09-16 FRENCH flag carrier Air France scrapped half of its flights on Monday as pilots began a strike against the company’s plan to develop its low-cost subsidiary.The company said 60 per cent of its flights would be cancelled Tuesday with fears that the...

In Brief

2014-09-16 Microsoft powers up game platform with ‘Minecraft’NEW YORK: Microsoft agreed Monday to buy the Swedish group behind the hugely popular video game “Minecraft” for US$2.5 billion, bolstering the increasingly important gaming division of the US tech...

Monday, 15 September 2014

Yahoo to get windfall from Alibaba IPO: analysts

2014-09-15 CHINA’S Alibaba will star on Wall Street with its upcoming stock offering, but US-based Yahoo also gets a windfall, which may help the turnaround efforts of the fading Internet pioneer.Yahoo, which bought a 40 per cent stake in the Chinese online...

UK banks slam leverage plans as too complex

2014-09-15 BRITAIN’S banks have slammed plans to impose new capital rules for lenders and said the “leverage ratio” proposals are far too complex and could encourage banks to take more risks.“There is a risk that the current proposals will increase costs for...

Scots focus on money issues

2014-09-15 THIS week’s Scottish independence referendum is a lot about the economy, experts say, as voters mull the outlook for their currency, oil revenues, jobs, national debt and EU membership.Scots will cast their ballot Thursday in a knife-edge vote that...

Saturday, 13 September 2014

IMF’s Lagarde says women vital for global recovery

2014-09-13   EMPOWERMENT of women and equal opportunities are crucial for driving a stronger global economic recovery, and for revitalizing Japan, the head of the International Monetary Fund said Friday. The global recovery is too tepid and too turbulent,...

Global car makers say India must reform to attract industry

2014-09-13 INDIA must urgently improve its infrastructure and reform its tax, land acquisition and labour laws if it is to fulfil its ambition of becoming a leading international automotive manufacturing hub, global carmakers said on Friday.New right-wing...

Ford to launch 4 new car models in India

2014-09-13 FORD Motor Co plans to launch four new car models in India and is looking to increase the amount of locally-made parts to reduce the cost of its vehicles sold in the country, the head of its local unit said on Friday.Foreign carmakers such as Ford...

Europe searches for strategy to revive economy

2014-09-13   EURO zone finance ministers cast around on Friday for ways to revive the bloc’s stagnating economy as their post-crisis strategy of budget rigour was left in tatters by France’s admission it needs two more years to put its finances in order....

Friday, 12 September 2014

Bank of England sees Bitcoin fraud risk, deflation danger

2014-09-12 BITCOIN and similar digital currencies may be at increasing risk of fraud and could damage Britain’s economy if they find widespread use, the Bank of England said on Thursday.The BoE said the finite supply of Bitcoins - which are traded between...

Russia may ban used car, other goods in response to sanctions

2014-09-12 RUSSIA’S response to Western sanctions may include caps on used car imports and other consumer goods, but Moscow hopes that common sense will prevail in the West, RIA news agency cited a Kremlin official as saying on Thursday.European leaders...

Opel to launch new compact car next year

2014-09-12 GERMAN carmaker Opel, the loss-making subsidiary of US giant General Motors, said on Thursday it plans to launch a new compact car next year in its ongoing drive back to profit. The new five-door model, Karl, will be launched next summer to...

Thursday, 11 September 2014

New EU Commission gives key economic posts to France, Britain

2014-09-11 THE incoming head of the European Commission, Jean-Claude Juncker, unveiled an EU executive team on Wednesday that handed key economic responsibilities to French and British commissioners but overseen by others in a new-look hierarchy.Naming...

UN vote vindicates Argentina’s debt fight against ‘vultures’

2014-09-11 THE Argentine government said Wednesday that its refusal to repay a group of US hedge funds that stand to profit on the country’s defaulted debt was vindicated by the United Nations’ support for a multilateral plan handling bond restructurings.The...

In Brief

2014-09-11 Emilio Botin: Conquistador of Spanish bankingMADRID: Emilio Botin, patriarch of one of Europe’s top corporate dynasties who died on Tuesday at 79, was credited with turning a local Spanish lender into one of the world’s biggest banks helping to...

Montezemolo quits, Fiat’s Marchionne becomes new Ferrari chairman

2014-09-11 LUCA Cordero di Montezemolo will step down as chairman of Ferrari as of Oct 13 and will be replaced by Sergio Marchionne, who also serves as the chief executive of parent group Fiat. The departure of Montezemolo, announced by Fiat on Wednesday,...

Wednesday, 10 September 2014

Starbucks goes coconuts in milk test

2014-09-10 MOOO-VE over milk, Starbucks Corp is testing coconut milk in stores in Los Angeles, Cleveland and Oregon as alternatives to traditional dairy products grow more popular.A Starbucks spokeswoman declined to say how many stores were offering coconut...

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