Business » World

Wednesday, 24 June 2009

BUSINESS BRIEFS

2009-06-24 br />Madoff lawyer seeks 12-year termNEW YORK: Bernard Madoff's lawyer asked a judge to sentence Wall Street's biggest thief to a punishment of less than life in prison, saying the court should not give in to the "mob vengeance" sought...

World stocks slip on economic worries

2009-06-24 WORLD stocks and oil slipped yesterday as concerns about the prospect for an economic recovery pushed key equity indexes into negative territory for the year.However, European stocks recouped some losses and Wall Street was set for a firmer open...

Rich, poor states debate finance reform

2009-06-24 RICH and poor nations edged closer to a deal on proposals for reforming the global financial system, but diplomats said there would have to be changes if a UN conference this week is to adopt them.A three-day UN General Assembly meeting on the...

Dreamliner delayed for 5th time

2009-06-24 BOEING said yesterday it would delay the first flight and delivery of its new 787 Dreamliner aircraft, the latest postponement in a programme seen as a key to the aerospace giant's future.Boeing said a new schedule for the first flight and delivery...

Ford, Nissan to get US govt loans

2009-06-24 THE Energy Department is expected to announce it is lending money to the Ford Motor Co and two other automakers from a US$25-billion fund to develop fuel-efficient vehicles.Energy Secretary Steven Chu was scheduled to announce the loan funding for...

Tuesday, 23 June 2009

Developing countries to slip into recession

2009-06-23 MOST developing economies will slip into recession this year amid a global financial crisis that has prompted wealthy investors to pull their money out of projects for the poor, the World Bank warned yesterday. The developing world will grow 1.2...

WB slashes forecasts for most economies

2009-06-23 SENTIMENT at big Japanese manufacturing firms improved in the three months to June, data showed yesterday, but the World Bank said prospects for the global economy remain "unusually uncertain" as it cut 2009 growth forecasts for most...

Apple sells 1m new iPhones in 3 days: Jobs

2009-06-23 APPLE Chief Executive Steve Jobs, in his first statement since taking a medical leave of absence in January, yesterday announced that one million new iPhones have been sold in just three days."Customers are voting and the iPhone is winning,...

Oil tumbles to below US$68

2009-06-23 OIL yesterday dropped more than two per cent to below US$68 ($98.92) a barrel as a stronger dollar and weaker European equities outweighed attacks on the oil industry in top African exporter Nigeria.Nigeria's main militant group said on Sunday it...

Toyota revival pinned on founding family

2009-06-23 THE statues of Toyota's founder and the mayor who brought the automaker to this rural area stand side by side in front of city hall a clear symbol of this city's intimate and longtime ties with Japan's biggest manufacturer.And so it's little wonder...

BUSINESS BRIEFS

2009-06-23 br />Govt to help Japan Airlines rehabilitateTOKYO: Japan Airlines, Asia's largest carrier, will be given government help to rebuild its strength, cabinet ministers said, after it was hammered by falling demand caused by the global economic slump...

Markets jittery over World Bank warning

2009-06-23 EUROPEAN and US stock markets fell yesterday as investors worried about the global economic outlook after the World Bank warned that the downturn would be deeper than it previously predicted.The lender said the world economy will shrink 2.9 per cent...

Asia unlikely to dump US dollar: ADB head

2009-06-23 ASIAN central banks would hurt themselves if they dumped US dollars from their foreign reserves because that would quickly reduce the value of those holdings, the head of the Asian Development Bank said.Asian central banks have been diversifying...

Monday, 22 June 2009

BUSINESS BRIEFS

2009-06-22 Qatar bid fuels family drama at PorscheFRANKFURT: Qatar's prime minister has unintentionally fuelled a family feud among the owners of German luxury sports carmaker Porsche, the future of which is threatened by a takeover bid for Volkswagen. Porsche...

ECB chief cautions on recovery pitfalls

2009-06-22 EUROPEAN Central Bank President Jean-Claude Trichet yesterday warned against putting too much faith in forecasts of an economic recovery next year."We should see a return to positive growth during next year," Trichet told Europe 1 radio....

Xstrata makes merger approach to Anglo

2009-06-22 MINING group Xstrata yesterday confirmed it had made an approach to rival Anglo American about a merger that would create one of the world's biggest mining companies, according to a company statement."Xstrata confirms that it recently sent a...

'Fed to stamp out idea of early rate hike'

2009-06-22 A JITTERY bond market and economic "green shoots" notwithstanding, the Federal Reserve is likely to reaffirm a commitment to keep pumping money into the economy to battle recession, analysts say.The Federal Open Market Committee (FOMC) led...

Philippines' Arroyo backs Asia IMF set-up

2009-06-22 PHILIPPINE President Gloria Arroyo (picture) supports wider cooperation in stabilising Asia's financial market, including creating a regional version of the International Monetary Fund, a report said yesterday.In an interview with Japanese media on...

Airbus to deliver first China-made aeroplane

2009-06-22 EUROPEAN aviation giant Airbus will deliver the first A320 aeroplane assembled at its factory in China tomorrow, in a symbolic event further marking the nation's global rise.The first plane to be made at the plant in northern Tianjin, the only...

Business confidence in Japan posts big leap

2009-06-22 A CLOSELY watched index of business confidence at Japan's major manufacturers is expected to show the first improvement in two and a half years, the Nikkei business daily reported yesterday.The Bank of Japan will on July 1 publish its quarterly...

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