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Published: Tue, 25 April 2017 16:28:40 +0800


Mitsubishi and Nissan full merger is not an option: chairman

Tue, 25 April 2017 14:45:09 +0800

A full merger between Japanese car makers Mitsubishi Motors Corp (MMC) and Nissan Motor Co Ltd is not on the table, Carlos Ghosn, chairman of both firms, said on Tuesday.

Credit Suisse investors prepare to grill chairman Rohner over pay

Tue, 25 April 2017 14:35:07 +0800

Credit Suisse Chairman Urs Rohner faces his toughest shareholder meeting to date this week following an investor revolt over bonuses and losses totaling 5.65 billion Swiss francs (US$5.7 billion) since 2015.

LVMH, Arnault to simplify Christian Dior business structure

Tue, 25 April 2017 14:30:06 +0800

Luxury goods group LVMH and billionaire businessman Bernard Arnault announced on Tuesday a deal to simplify their relationship with Christian Dior by buying out its minority shareholders, a transaction aimed at boosting LVMH's earnings.

Toshiba to start taking bids in June for its Swiss unit Landis+Gyr: Kyodo

Tue, 25 April 2017 13:35:12 +0800

Japan's Toshiba Corp will start taking bids for Landis+Gyr, its Swiss smart meter unit, as early as June, Kyodo news agency reported on Tuesday.

East Coast refiners eye Texas oil as North Dakota alternative

Tue, 25 April 2017 13:15:10 +0800

U.S. East Coast refiners are looking to buy increasing volumes of domestic crude oil from the Gulf Coast, two sources said, the latest twist in a trade flow upheaval in the wake of the opening of the Dakota Access pipeline.

Not an inside job: How two analysts became SEC whistleblowers

Tue, 25 April 2017 13:10:08 +0800

Four years ago, two analysts who liked to swap notes on numbers they thought looked odd took a fateful step and tipped off U.S. regulators about a company that one of them had watched for months.

For Wells Fargo directors, narrow wins may not be enough

Tue, 25 April 2017 12:25:06 +0800

A shareholder vote scheduled for Tuesday could throw Wells Fargo & Co's leadership into question if many directors, criticized for their slow response to the bank's phony-account scandal, fail to win solid majorities.

Ahead of NAFTA talks, US sets 20 percent duties on Canadian softwood lumber

Tue, 25 April 2017 11:30:11 +0800

The United States will impose preliminary anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber, Commerce Secretary Wilbur Ross said on Monday, escalating a long-running trade dispute between the two neighbors.

Tom Hanks jokes Twitter CEO inspired his character in 'The Circle'

Tue, 25 April 2017 08:40:26 +0800

Oscar-winning actor Tom Hanks, who plays a Silicon Valley tycoon in the new film "The Circle" about a powerful social media company, teased Twitter Inc Chief Executive Officer Jack Dorsey on Monday that he may have been inspiration for the part.

Ready for take-off? China's answer to Boeing now just needs to sell

Tue, 25 April 2017 08:30:22 +0800

When China unveiled an historic order for its first large commercial jetliner at a national air show in 2010, Western journalists were kept away, and only local media were allowed to witness a major turning point in China's aviation ambitions.

Commentary: Intellectual property is making today's ideas tomorrow's assets

Tue, 25 April 2017 08:10:38 +0800

The commercialisation of intellectual property can be a growth engine for Singapore's future economy, says chief executive of the Intellectual Property Office of Singapore Daren Tang.

Alitalia workers reject rescue plan

Tue, 25 April 2017 06:47:54 +0800

ROME: Alitalia workers have rejected a restructuring deal from the company's management and unions to save the ailing carrier, Italian media reported on Monday (Apr 24). Almost 90 per cent of its 12,500 employees had participated in a vote and more than half those taking part opposed the deal ...

Fresenius snaps up Akorn, Merck KGaA's biosimilars in separate deals

Tue, 25 April 2017 05:25:13 +0800

Acquisitive German healthcare conglomerate Fresenius SE & Co KGaA revved up its deals pace by acquiring U.S. generic drugmaker Akorn Inc for US$4.75 billion (4.37 billion euros), and in a separate deal, the biosimilars unit of German peer Merck KGaA .

Number of US bank branches to shrink 20 percent in five years: real estate report

Tue, 25 April 2017 05:15:12 +0800

The number of bank branches in the United States will shrink by as much as 20 percent in five years, according to a report from commercial real estate firm JLL.

Express Scripts says likely to lose top client Anthem

Tue, 25 April 2017 07:45:05 +0800

Pharmacy benefit manager Express Scripts Holding Co said Anthem Inc, its biggest customer and one that has sued the company over claims of being overcharged, was unlikely to renew its contract after it ends in 2019.

MetLife asks court to halt 'too big to fail' case during Trump review

Tue, 25 April 2017 05:00:19 +0800

MetLife Inc is asking a U.S. court to put on pause a case over how the government deems certain companies "too big to fail," one of the most significant reforms to come out of the financial crisis, while President Donald Trump's administration finishes reviewing the current regulatory approach.

Alitalia workers reject labor deal, put airline on course for administration: union sources

Tue, 25 April 2017 04:40:16 +0800

Alitalia workers rejected a proposal to cut jobs among ground staff and trim flight personnel's salaries as part of a major restructuring, putting the loss-making Italian airline on course for government-led special administration, union sources said.

T-Mobile quarterly profit up, new subscribers top estimates

Tue, 25 April 2017 05:25:09 +0800

T-Mobile US Inc added more subscribers than expected in the first quarter as promotional offers helped the No. 3 wireless carrier win over customers despite rival unlimited data plans, the company said on Monday.

Nasdaq hits record close as French vote boosts stocks

Tue, 25 April 2017 04:45:49 +0800

NEW YORK: The Nasdaq surged to a record on Monday (Apr 24) as US stocks joined a global rally following the strong performance by centrist French presidential candidate Emmanuel Macron in the first round of voting on Sunday. The Nasdaq gained 1.24 per cent to finish the day at 5,983.82, up 73.30 ...

Uber, France spar over whether company is a transport service

Tue, 25 April 2017 04:30:07 +0800

U.S. ride-hailing app Uber told Europe's top court on Monday that it was a digital service, not a transport service, and that a French law clearly targeted online taxi services, in its latest European legal battle with the taxi industry.

Trump pushes Democrats on border wall as government shutdown looms

Tue, 25 April 2017 04:15:21 +0800

U.S. President Donald Trump tried to press Democrats on Monday to include funds for his controversial border wall with Mexico in spending legislation as lawmakers worked to avoid a looming shutdown of the federal government.

Automotive supplier breaks ground on rare new Detroit factory

Tue, 25 April 2017 04:10:23 +0800

U.S. auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first new investment by an automotive supplier in decades for Motor City, the cradle and former beating heart of the car industry.

'Personal flying machine' manufacturer plans deliveries this year

Tue, 25 April 2017 02:57:50 +0800

WASHINGTON: A Silicon Valley "flying car" startup, Kitty Hawk, reportedly backed by Google co-founder Larry Page, released a video on Monday (Apr 24) of its airborne prototype and announced plans for deliveries of a "personal flying machine" this year. "Our mission is to make the dream of personal ...

Wells Fargo board pays price for letting whistleblowers whistle in the wind

Tue, 25 April 2017 02:20:22 +0800

Wells Fargo & Co directors could have avoided a shareholder backlash over a sales practices scandal if they had paid more attention to scores of whistleblowers who complained, in vain, for years.

Exclusive: Fresenius nears deal to acquire Akorn - sources

Tue, 25 April 2017 00:50:07 +0800

German healthcare conglomerate Fresenius SE & Co KGaA is close to acquiring generic drugmaker Akorn Inc in an all-cash deal valuing the company at more than US$4 billion, people familiar with the matter said on Monday.

Stocks, euro surge as France's Macron favoured for presidential win

Tue, 25 April 2017 00:20:40 +0800

LONDON: Europe's stock markets and the euro surged on Monday (Apr 24), breathing a sigh of relief after moderate candidate Emmanuel Macron won the first round of France's presidential election and looked set to triumph in next month's run-off against far-right candidate Marine Le Pen. Germany's ...

PPG raises offer for Akzo Nobel to US$29 billion

Tue, 25 April 2017 03:10:13 +0800

U.S. paint maker PPG Industries raised its proposed offer for Akzo Nobel by about 8 percent to 26.9 billion euros (US$28.8 billion) on Monday, increasing the pressure on its Dutch rival to enter into talks.

Microsoft's Nadella banks on LinkedIn data to challenge Salesforce

Mon, 24 April 2017 22:10:07 +0800

Microsoft Corp is rolling out upgrades to its sales software that integrates data from LinkedIn, an initiative that Microsoft CEO Satya Nadella told Reuters was central to the company's long-term strategy for building specialized business software.

Halliburton gains from surge in North America drilling

Mon, 24 April 2017 21:40:13 +0800

Halliburton Co reported quarterly profit and revenue that edged past analysts' estimates as a surge in drilling activity in North America pushed up demand for its pressure pumping and well-construction services.

Wal-Mart e-commerce investment arm names new retail startup CEO

Mon, 24 April 2017 21:40:07 +0800

Wal-Mart Stores Inc , the world's no.1 retailer, said its recently launched startup investment arm, Store No 8, has hired Jenny Fleiss as the chief executive of its first portfolio company.

NASH: The next untapped pharma market gives investors many options

Tue, 25 April 2017 02:05:09 +0800

Large drugmakers with piles of cash are on the hunt for promising medicines being developed by small companies to treat NASH, a progressive fatty liver disease poised to become the leading cause of liver transplants by 2020.

Malaysia's 1MDB reaches settlement deal with Abu Dhabi's IPIC

Tue, 25 April 2017 11:52:26 +0800

ABU DHABI/KUALA LUMPUR: Abu Dhabi and Malaysia have reached a conditional agreement under which Malaysian state fund 1MDB will pay US$1.2 billion to settle a debt dispute that had led to arbitration proceedings in London. Separately, 1MDB and Malaysia's Ministry of Finance will assume ...

HSBC confident can maintain dividend, exceed cost targets: CEO

Mon, 24 April 2017 17:30:10 +0800

HSBC Holdings Plc is confident it can maintain dividend payouts in the foreseeable future and expects to exceed risk-weighted asset and cost-saving targets, the bank's chief executive Stuart Gulliver said on Monday.

China clamps down on excess steel as Japan decries Trump 'protectionism'

Mon, 24 April 2017 17:10:08 +0800

Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would open a probe into cheap steel exports from China and elsewhere.

Luxury shoe brands Jimmy Choo and Bally put up for sale

Tue, 25 April 2017 04:22:44 +0800

LONDON: British luxury retailer Jimmy Choo has put itself up for sale to try to maximise shareholder value as majority investor JAB increases its focus on consumer goods. JAB Luxury also said on Monday (Apr 24) it was reviewing its ownership of Bally International, the Swiss luxury footwear and ...

LafargeHolcim CEO to depart in wake of Syria controversy

Mon, 24 April 2017 13:25:07 +0800

LafargeHolcim Chief Executive Eric Olsen will leave the company in July, the world's largest cement maker said on Monday, in the wake of a report into allegations the company paid armed groups in Syria to keep a plant open.

US Chamber of Commerce chief expects basic NAFTA deal by mid-2018

Mon, 24 April 2017 18:50:26 +0800

The United States, Mexico and Canada are likely to reach a basic accord over reworking the North American Free Trade Agreement (NAFTA) by the middle of next year, the head of the biggest U.S. business lobby group said on Sunday.

Trump resorting to unilateralism with steel probe: China Daily

Mon, 24 April 2017 12:35:18 +0800

Washington's move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to take retaliatory steps, the official China Daily said in an editorial on Monday.

China policymakers bullish on economy, cite strong first-quarter GDP, stable yuan

Mon, 24 April 2017 12:10:12 +0800

Policymakers in China are pushing a bullish message on the world's second-biggest economy after a solid first quarter, pointing to a slow down in capital outflows and a stable yuan after a selloff last year stoked fears of instability.

Euro rises sharply after first round of French election

Mon, 24 April 2017 07:58:49 +0800

TOKYO: The euro rose sharply on Monday (Apr 24) as markets breathed a sigh of relief over French presidential election projections that showed centrist candidate Emmanuel Macron taking a lead over far-right eurosceptic Marine Le Pen. In early Asian trading, the European single currency was at US$1 ...

US stocks futures rally after centrist takes first round in French election

Mon, 24 April 2017 10:45:11 +0800

U.S. stock index futures rose sharply on Sunday on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock.

World Bank Group, China-led AIIB agree to deepen cooperation

Mon, 24 April 2017 04:45:10 +0800

The World Bank Group and the China-led Asian Infrastructure Investment Bank said on Sunday they agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical work, development financing and country-level coordination.

Credit Suisse to make capital hike decision after AGM: report

Sun, 23 April 2017 22:30:14 +0800

Credit Suisse will not decide on how it wants to raise fresh capital until after this week's annual general meeting, SonntagsZeitung reported on Sunday.

Trump tax plan may produce some short-term budget issues: Mnuchin

Sun, 23 April 2017 05:30:07 +0800

U.S. Treasury Secretary Steven Mnuchin said on Saturday that the Trump administration's tax reform plan would produce some "short term issues" when viewed under traditional "static" budget analysis rules.

Argentina to beat first-quarter deficit goal, has cut over 10,000 jobs: minister

Sun, 23 April 2017 05:05:09 +0800

Argentina will beat its first-quarter fiscal goal, the treasury minister said on Saturday, adding that the government slashed more than 10,000 jobs over the last year and a half.

IMF warns against protectionism, but strikes word from statement

Sun, 23 April 2017 04:11:22 +0800

With fears rising that the Trump administration will follow through on its threats to raise trade barriers, world finance ministers are united on one message: protectionism threatens the global economy.

Trump's 'big announcement' on tax to be broad principles: Official

Sun, 23 April 2017 02:31:58 +0800

President Donald Trump's promised "big announcement" next week on overhauling the U.S. tax code, a top campaign pledge, will consist of "broad principles and priorities," an administration official said on Saturday.

Mnuchin urges IMF to enhance FX surveillance

Sun, 23 April 2017 02:10:09 +0800

U.S. Treasury Secretary Steven Mnuchin on Saturday called on the International Monetary Fund to enhance surveillance of its members' exchange rates and external imbalances, as large trade imbalances would hamper "free and fair" trade.

Snap election surprise gives bruised British pound a lift: 4 key questions

Sat, 22 April 2017 22:34:51 +0800

The pound hit multi-month highs this week following a surprise call for early elections by British Prime Minister Theresa May - an event that some analysts say may be a "game-changer” for the battered currency.

Commentary: The hard truths behind building a business in Singapore

Sat, 22 April 2017 18:23:17 +0800

While it is heartening to see more government support for small- and medium-sized enterprises, Yoga Movement co-founder, owner and director Alicia Pan says building a business remains no easy task.

Two big California pension systems oppose nine Wells Fargo directors

Sat, 22 April 2017 09:00:05 +0800

Officials of two large California public retirement systems said Friday they are voting against nine of 15 Wells Fargo & Co directors up for election at the bank's annual meeting next week, citing the bank's phony-account scandal.

US stocks dip ahead of French election

Sat, 22 April 2017 06:00:43 +0800

NEW YORK: Wall Street stocks fell on Friday (Apr 21) on mixed earnings and cautious investor sentiment ahead of the French presidential election this weekend. With polls in France showing a tight contest ahead of Sunday's first round of voting and the chance of a run-off between two anti-eurozone ...

Wall Street gears up for busiest earnings week in years

Sat, 22 April 2017 23:35:05 +0800

Forget about French elections or the flagging Trump trade.

United CEO Munoz will not chair board in 2018 following passenger removal

Sat, 22 April 2017 05:25:05 +0800

United Continental Holdings Inc said on Friday Chief Executive Oscar Munoz will not become chairman in 2018, under an amendment to his employment agreement approved after an uproar over the treatment of a passenger.

Trump sets US tax reform announcement, orders tax rule review

Sat, 22 April 2017 04:30:08 +0800

President Donald Trump on Friday promised a big announcement about tax reform next week and ordered an administration review of Obama-era tax rules written to discourage U.S. companies from relocating overseas to cut their tax bills.

Consensus in G20 that protectionism 'damaging' for global economy

Sat, 22 April 2017 06:53:07 +0800

WASHINGTON: The Group of 20 major economies sent a message on Friday (Apr 21) on the threat that rising protectionism poses to the global economy, but the United States cast doubt over its adherence to that stance. US Treasury Secretary Steven Mnuchin reiterated the Trump administration's emphasis ...

Honeywell profit beats; shares hit record high

Sat, 22 April 2017 03:40:33 +0800

Honeywell International Inc said on Friday its commercial aviation after-sales business was benefiting from robust air travel, while its energy division was getting a lift from stable oil prices, sending shares to a record high.

Exclusive: BT files criminal complaint over Italy accounting scandal

Sat, 22 April 2017 03:40:33 +0800

British Telecom has filed a criminal complaint with Italian prosecutors over an accounting scandal at its Italian unit and has handed them computer records and also dispatched its head of compliance to Milan to give evidence.

GE shares fall on cash, business worries though profit beats

Sat, 22 April 2017 03:40:30 +0800

General Electric Co reported quarterly sales and adjusted earnings results that beat analysts estimates on Friday, but its shares fell on concerns about some of its industrial businesses and its cash outflow.

Struggling apparel retailer Bebe to shut all stores

Sat, 22 April 2017 03:40:29 +0800

Struggling apparel retailer Bebe Stores Inc said on Friday it would close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives following four years of losses.

Wall Street dips before French election, but up for week

Sat, 22 April 2017 04:25:10 +0800

U.S. stocks dipped on Friday as investors were cautious ahead of the first round of the closely contested French presidential election, but the S&P 500 managed to notch its first weekly gain in three.

IMF ratchets up call to address anti-globalisation anger

Sat, 22 April 2017 02:09:17 +0800

As the global recovery gathers pace, the IMF is turning up the volume on its call for wealthy countries to address popular anger over the impact of globalisation and head off the threat of protectionism.

N.Y. Fed leaves US first-quarter, second-quarter GDP view little changed

Sat, 22 April 2017 00:46:12 +0800

The New York Federal Reserve said on Friday it left its outlook on U.S. gross domestic product in the first quarter and second quarter little changed from the preceding week following a mixed bag of economic data this week.

US judge sentences Volkswagen to three-years' probation, oversight

Sat, 22 April 2017 00:46:45 +0800

A federal judge in Detroit on Friday sentenced Volkswagen AG to three years' probation and independent oversight for the German automaker's diesel emissions scandal as part of a US$4.3 billion settlement announced in January.

US retailers bet on Congress over Bolivia to thwart Trump border tax issue

Sat, 22 April 2017 00:46:50 +0800

Target Corp , Wal-Mart Stores Inc and other retailers are shelving considerations to move supply bases closer to the United States in the face of a possible border tax, banking instead on killing support for the tax idea in Congress.

US existing home sales surge 4.4 percent in March

Sat, 22 April 2017 00:46:57 +0800

U.S. home resales rose more than expected in March to the highest level in more than a decade as more homes came on the market and were quickly snapped up by consumers.

Investors not yet ruffled by looming government shutdown

Sat, 22 April 2017 00:48:06 +0800

U.S. stocks have struggled since the timeline for the Trump administration's pro-growth agenda came into question, but investors appear confident that next week's deadline that could shut down the federal government will not become another market hurdle.

Wells Fargo expands settlement to include more customer accounts

Sat, 22 April 2017 00:48:35 +0800

Wells Fargo & Co said it would expand its class action settlement related to the lender's retail sales practices to include customer accounts as early as May 2002.

Wall Street slips as investors brace for French election

Sat, 22 April 2017 00:49:13 +0800

Wall Street slipped in late morning trading on Friday as investors held off from making risky bets ahead of the first round of the closely contested French presidential election.

Struggling apparel retailer Bebe Stores to shut all stores

Sat, 22 April 2017 00:49:46 +0800

Struggling apparel retailer Bebe Stores Inc said on Friday it would close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives following four years of losses.

Honeywell profit beats as aerospace, energy businesses deliver

Sat, 22 April 2017 00:49:50 +0800

Diversified U.S. manufacturer Honeywell International Inc reported quarterly profit ahead of analysts' estimates on Friday, as sales in its aerospace and energy businesses were higher than the company's forecast.

GE cash flow turns negative in quarter; profit, revenue beat

Sat, 22 April 2017 00:50:05 +0800

General Electric Co reported on Friday that first-quarter cash flow from its industrial operations turned negative and was less than the company expected, though its earnings and revenue exceeded analyst estimates.

Brexit makes campsites cool again as Britons tighten belts

Sat, 22 April 2017 00:55:11 +0800

Before last year's Brexit vote, Scott McCready was struggling to fill his holiday cabins on the coast of southwest England. Now the site is fully booked with British tourists avoiding more expensive foreign trips following a plunge in the pound.

High-stakes vote on Wells Fargo board also tests proxy adviser ISS

Sat, 22 April 2017 00:56:45 +0800

A high-stakes shareholder vote at Wells Fargo & Co next week will determine whether the bank has done enough to retain investor confidence after its phony-account scandal, and whether a leading proxy adviser wields enough clout to help oust most of its board.

US and Indonesia seek to cut trade and investment barriers

Sat, 22 April 2017 00:58:07 +0800

Indonesia and the United States agreed on Friday to find ways to reduce barriers to U.S. companies operating in Southeast Asia's largest economy, visiting U.S. Vice President Mike Pence and Jakarta's investment chief said.

Australian court dismisses Chevron appeal in landmark tax case

Sat, 22 April 2017 00:58:36 +0800

Chevron Corp lost an appeal on Friday against the Australian tax office in a landmark case in which the U.S. energy giant contested a tax bill of AUS$340 million (US$260 million), including penalties and interest.

Trump targets cheap Chinese steel in probe, rallying US steel stocks

Sat, 22 April 2017 00:59:14 +0800

President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent.

Global finance leaders find a more temperate Trump in Washington

Sat, 22 April 2017 01:00:40 +0800

Donald Trump took power in January pledging to overhaul a global order that he said cheated middle-class Americans with a promise to tear up trade agreements and impose tariffs on China and Mexico.

Japan Inc braces for labor reform, plans to boost productivity -Reuters poll

Sat, 22 April 2017 01:01:09 +0800

Japan's plans to implement more employee-friendly laws are set to prove painful for many companies, with half saying labor costs will rise and two-thirds considering ways to lift productivity to offset the impact of the reforms, a Reuters poll showed.

Hedge funds lose on UK election shock, but man less than machines

Sat, 22 April 2017 01:01:18 +0800

Hedge funds lost out on Tuesday after British Prime Minister Theresa May shocked markets by calling a snap election, but those led by humans outsmarted those led by machines, in a reversal of fortunes from the Brexit referendum.

US Fed fines Deutsche Bank over forex, oversight failures

Sat, 22 April 2017 01:02:06 +0800

The US Federal Reserve on Thursday ordered German banking giant Deutsche Bank to pay more than US$150 million in civil fines for bad foreign-exchange practices and lax oversight.

Trump to order US Treasury to delve into taxes, post-crisis reforms

Sat, 22 April 2017 01:01:27 +0800

U.S. President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business.

Trading firm Virtu Financial to buy KCG for about US$1.4 billion

Sat, 22 April 2017 01:01:46 +0800

Virtu Financial Inc said it would buy rival KCG Holdings Inc in a US$1.4 billion deal that brings together two major U.S. electronic trading and market-making firms.

GSK must pay US$3 million in generic Paxil suicide lawsuit: US jury

Sat, 22 April 2017 01:02:52 +0800

GlaxoSmithKline must pay US$3 million to a woman who sued the drug company over the death of her husband, a lawyer who committed suicide after taking a generic version of the antidepressant Paxil, a U.S. jury said on Thursday.

Wal-Mart CEO's compensation rises to US$22.4 million

Sat, 22 April 2017 01:03:23 +0800

Wal-Mart Stores Inc's chief executive officer received a 13 percent increase in total compensation to US$22.4 million in the fiscal year ended Jan. 31, according to a regulatory filing on Thursday, as sales growth at the world's largest retailer remained robust.

Trump tax plan to rely on future US growth to fund cuts: officials

Sat, 22 April 2017 01:03:33 +0800

U.S. President Donald Trump's tax reform plan will rely largely on future revenue gains from faster economic growth to justify major tax cuts, top Trump advisers said on Thursday.

Exxon probe is unconstitutional, Republican prosecutors say

Sat, 22 April 2017 01:03:36 +0800

A group of 11 Republican state attorneys general are protesting an investigation into whether Exxon Mobil Corp. violated consumer protection laws when selling fossil fuel products, according to a court filing.

Visa's profit boosted by Europe unit, big card portfolio wins

Sat, 22 April 2017 01:03:41 +0800

Visa Inc on Thursday reported better-than-expected quarterly earnings and said it expects full-year profit at the high end of its forecast, as it benefits from the purchase of Visa Europe and big credit-card portfolio wins back home.

Nasdaq jumps 0.9%, ends at record close as US stocks rally

Sat, 22 April 2017 01:04:10 +0800

The Nasdaq surged to a record on Thursday as US stocks shrugged off geopolitical worries and rallied on better earnings and optimism about the American economy.

US reviewing Venezuela's seizure of GM assets

Sat, 22 April 2017 01:04:04 +0800

U.S. officials are reviewing Venezuela's seizure of General Motors Co's assets in the country, U.S. State Department spokesman Mark Toner said on Thursday.

Subway says it shut hundreds of US restaurants last year

Sat, 22 April 2017 01:05:33 +0800

U.S. sandwich chain Subway Restaurants said on Thursday it shut 359 restaurants in the United States last year, amid stiff competition in a highly fragmented fast-food industry.

Flying cars take off on French Riviera

Sat, 22 April 2017 01:06:34 +0800

Flying cars might seem like the stuff of science fiction, but two prototypes were launched on Thursday on the French Riviera, at an event showcasing "supercars" in Monaco.

Lufthansa departures briefly hit by computer outage: airport staff

Sat, 22 April 2017 01:06:06 +0800

Lufthansa and Air France were briefly hit by computer problems preventing them from boarding passengers on Thursday evening, airport and airline staff said on Thursday.

AIG considering Brian Duperreault as new CEO: CNBC

Sat, 22 April 2017 01:06:13 +0800

American International Group Inc is considering former company veteran Brian Duperreault, who heads Hamilton Insurance Group, as its new chief executive, CNBC said, citing a media report.

Tesla to recall 53,000 cars over parking brake issue

Sat, 22 April 2017 01:07:27 +0800

Tesla Inc said on Thursday it would recall 53,000 of its Model S and Model X cars globally to fix a parking brake issue.

Munich Re sees Asia driving growth for insurers

Sat, 22 April 2017 01:07:32 +0800

Growth in Asian emerging economies will boost global insurance markets into next year, balancing an expected slowdown in China, German reinsurance giant Munich Re said on Thursday.

Anthem denies report of talks with Justice Dept regarding merger

Sat, 22 April 2017 01:08:20 +0800

Health insurer Anthem Inc denied a report on Thursday that it was in negotiations with the Justice Department in an effort to save its merger with smaller rival Cigna Corp .

Apple touts greater use of recycled metal in gadgets

Sat, 22 April 2017 01:08:59 +0800

The company's research concluded that recycled aluminium should come from Apple products rather than from recycling facilities because of the high grade needed for the metal.

World markets edge higher as French election looms

Sat, 22 April 2017 01:09:01 +0800

Global stock markets edged higher on Thursday, but investors were treading cautiously ahead of the upcoming French presidential election, while Wall Street was buoyed by a raft of corporate earnings reports.

Eyeing US market, Chinese automaker may change Trumpchi brand name

Fri, 21 April 2017 11:57:07 +0800

When Chinese automaker GAC Motor was preparing to enter the United States market it foresaw challenges in product localization and regulation, but didn't see any issue with the name of its flagship brand, Trumpchi.