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Published: Mon, 24 July 2017 02:54:40 +0800

 



Supreme Court ruling leads to offensive trademark requests

Sun, 23 July 2017 22:10:08 +0800

A small group of companies and individuals are looking to register racially charged words and symbols for their products, including the N-word and a swastika, based on a U.S. Supreme Court decision on trademarks last month.



Blackstone in talks to buy 40% of Israel cyber firm NSO: Report

Sun, 23 July 2017 16:46:11 +0800

Blackstone Group is in advanced talks to acquire 40 percent of Israeli cyber firm NSO Group for US$400 million, Israel's Calcalist business newspaper reported on Sunday.



French grape harvest heading to historic low

Sun, 23 July 2017 02:14:09 +0800

Knocked off course by a cold spring snap, French wine production this year slid to a record low, falling 17 percent on 2016, initial ministry of agriculture projections show.



Madrid asks anti-trust watchdog to probe Uber's new airport service

Sun, 23 July 2017 09:15:06 +0800

Authorities in Madrid asked Spain's anti-trust watchdog on Saturday to investigate whether Uber's new low-cost airport transfer service constitutes unfair competition.



World Bank orders Argentina to pay US$320 million over seized airline: newspaper

Sun, 23 July 2017 01:35:08 +0800

The World Bank's arbitration tribunal has ordered Argentina to pay US$320 million plus interest and legal fees to Spanish travel group Marsans for expropriating its airline Aerolineas Argentinas SA in 2008, a local newspaper reported on Saturday.



India's Delhi government tells Philip Morris to remove all ads

Sun, 23 July 2017 01:20:16 +0800

The state government in India's capital told Philip Morris International Inc and other tobacco companies on Saturday to remove all advertisements from tobacco shops in the city, warning them of legal action if they do not comply.



Opel defends inclusion of employee leases in sales data

Sat, 22 July 2017 23:50:07 +0800

German carmaker Opel, which is being bought by French rival PSA Group from General Motors , said on Saturday that its sales figures included cars pre-registered by Opel and leased by company workers and pensioners and their families.



EU antitrust regulators say probing possible German car cartel

Sat, 22 July 2017 21:00:12 +0800

EU antitrust regulators are investigating allegations of a cartel among a group of German carmakers, the European Commission said on Saturday, a measure that could result in hefty fines for the companies.



Exclusive: US weighs financial sanctions to hit Venezuela's oil revenue - sources

Sat, 22 July 2017 08:40:15 +0800

The United States is considering financial sanctions on Venezuela that would halt dollar payments for the country's oil, according to a senior White House official and an adviser with direct knowledge of the discussions.



Deutsche Bank, JPMorgan to pay US$148 million to end yen Libor cases in US

Sat, 22 July 2017 08:10:13 +0800

Deutsche Bank AG and JPMorgan Chase & Co have agreed to pay a combined US$148 million to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.



Small-cap rally could shrink on earnings, tax reform hurdles

Sat, 22 July 2017 06:50:09 +0800

Optimism is souring around small-cap stocks for some investors, with a host of factors conspiring to up-end gains that have taken them to record highs.



Lemonheads owner Ferrara eyes Nestle's candy business: sources

Sat, 22 July 2017 06:20:08 +0800

REUTERS: Ferrara Candy Co, the owner of candies such as Lemonheads and Now & Later chews, is preparing to participate in the auction for Swiss food group Nestle SA's U.S. candy business, people familiar with the matter said on Friday. A potential deal would add chocolate brands such as ...



Volkswagen CEO says business going well so far in 2017: Rheinische Post

Sat, 22 July 2017 06:15:17 +0800

Business is going well so far this year, Volkswagen's chief executive officer Matthias Mueller said in a newspaper interview published on Saturday.



High-tech mystery: Is a Facebook phone in the works?

Sat, 22 July 2017 06:05:43 +0800

A Facebook unit devoted to hardware filed a patent application in January for a mysterious "modular electro-mechanical device" that could have speakers, cameras, microphones, touchscreens, and displays.



US financial regulators to discuss Metlife lawsuit on July 28: Treasury

Sat, 22 July 2017 06:00:09 +0800

Heads of the U.S. financial regulatory agencies will meet behind closed doors next Friday to discuss MetLife Inc's lawsuit against them, according to a notice from Treasury, as the Trump administration wrestles with reforms arising from the financial crisis.



US fines American Airlines, Delta, Frontier for violating consumer protection rules

Sat, 22 July 2017 05:30:19 +0800

The U.S. Transportation Department said on Friday has fined Frontier Airlines, American Airlines and Delta Air Lines for violating the department’s airline consumer protection rules.



US stocks dip on lower oil and earnings, ending Nasdaq streak

Sat, 22 July 2017 04:50:38 +0800

NEW YORK: Wall Street stocks fell modestly on Friday (Jul 21) on mixed earnings and lower oil prices, ending Nasdaq's streak of 10 straight gains that included three straight closing records. Petroleum-linked shares including Dow member Chevron and Halliburton fell as oil prices dropped on worries ...



US to drop criminal charges in 'London Whale' case

Sat, 22 July 2017 05:10:06 +0800

U.S. prosecutors on Friday said they plan to drop criminal charges against two former JPMorgan Chase & Co derivatives traders over allegations they had a role in the "London Whale" trading scandal that caused US$6.2 billion of losses.



Wells Fargo ordered to pay US$575,000, reinstate whistleblower

Sat, 22 July 2017 04:30:09 +0800

REUTERS: The U.S. Department of Labor on Friday ordered Wells Fargo & Co to pay US$575,000 and to rehire a whistleblower the bank had dismissed in September 2011 after the former employee raised concerns over the opening of customer accounts without their knowledge, the agency said in a statement ...



US lawyers suing Volkswagen get US$300 million in fees, costs

Sat, 22 July 2017 03:25:11 +0800

A federal judge on Friday approved US$125 million in fees and costs for lawyers who sued Volkswagen AG on behalf of U.S. owners of 88,000 3.0 liter diesel vehicles over excess emissions.



US IPO market may struggle to finish 2017 on a high

Sat, 22 July 2017 02:40:10 +0800

Underwhelming performances of Snap and Blue Apron since their high-profile market debuts, especially at a time when the U.S. stock market is hitting record highs, is an indication that the IPO market will not be as robust as expected this year.



India to quiz Philip Morris on marketing of Marlboro

Sat, 22 July 2017 02:35:12 +0800

India plans to seek an explanation from Philip Morris International Inc about its marketing practices after Reuters reported that the tobacco giant used tactics that government officials say flout the country's law, a health ministry official said on Friday.



Alitalia gets some 10 non-binding offers for the airline: source

Sat, 22 July 2017 02:20:19 +0800

Struggling Italian airline has received about ten non-binding offers for the company, a source close to the matter said on Friday.



Hedge fund stung by unusual ruling over Sprint-Clearwire deal

Sat, 22 July 2017 00:55:08 +0800

WILMINGTON, Del: A Delaware judge ruled Friday that wireless carrier Clearwire Corp was sold in 2013 for more than twice its fair value, a decision that dealt a stinging loss to the Aurelius Capital Management hedge fund which spent years battling to prove Clearwire was vastly underpriced. Sprint ...



European markets slump as euro gains on ECB 'taper' talk

Sat, 22 July 2017 00:30:39 +0800

PARIS: European stock markets ended the week down as the euro extended its gains on Friday (Jul 21) after the European Central Bank said it would reassess its monetary policy stance in the autumn, fuelling talk that the age of cheap money was coming to an end. Eurozone markets slumped more the 1.5 ...



Ford to petition to avoid US recall of 2.5 million vehicles

Sat, 22 July 2017 04:30:06 +0800

WASHINGTON: Ford Motor Co will petition to avoid a U.S. recall of about 2.5 million vehicles with Takata air-bag inflators that the Japanese auto supplier declared defective last week, U.S. regulators and the automaker said on Friday. Separately, the National Highway Traffic Safety ...



Gloomy outlook from GE sends shares lower

Sat, 22 July 2017 04:53:43 +0800

NEW YORK: General Electric offered a downcast earnings outlook on Friday (Jul 21) based on weakness in its oil and gas and power divisions, as the company's leadership transitions to incoming chief executive John Flannery. GE, which last month tapped Flannery to replace longtime CEO Jeff Immelt ...



ECB survey finds markets expect lower inflation

Fri, 21 July 2017 23:40:38 +0800

FRANKFURT AM MAIN: Financial experts in the European Union have lowered their inflation expectations for the coming years, a European Central Bank survey published on Friday (Jul 21) showed, reflecting the institution's complicated path to its price stability target. In its quarterly survey of ...



Global pizza brands battle for Russia's far-flung regions

Sat, 22 July 2017 02:35:08 +0800

Global pizza brands Domino's and Papa John's are preparing an assault on Russia's provinces, betting they can turn a profit far from Moscow as online card payments become more widespread and consumers get to know foreign brands better.



After false dawn, Big Oil to double down on cost cuts

Fri, 21 July 2017 22:35:08 +0800

After a brief respite at the start of the year, the world's top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters.



Bank of America picks Dublin as EU base after Brexit

Fri, 21 July 2017 22:00:15 +0800

LONDON/DUBLIN: Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc. International banks are planning to set up subsidiaries in the EU to ensure they can continue to serve clients if ...



Japan's Universal loses Supreme Court appeal in Reuters case

Fri, 21 July 2017 22:00:12 +0800

TOKYO: Japan's Supreme Court rejected an appeal by Japan's Universal Entertainment Corp to hear its defamation case against Reuters, upholding two lower court rulings that its case against the news agency lacked merit. In a short written ruling on Wednesday, the Supreme Court said that Universal ...



Honeywell beats profit estimates, lifts full-year forecasts

Sat, 22 July 2017 03:55:10 +0800

Honeywell International Inc reported a better-than-expected quarterly profit, as sales in its aerospace unit and the business that caters to the energy industry were not as bad as it had feared.



GlaxoSmithKline's new CEO prepares to trim drug pipeline

Fri, 21 July 2017 20:55:17 +0800

GlaxoSmithKline's new chief executive, who has already made her mark with plans to divest some nutritional products, will turn next week to the main business of focusing the company's pipeline of new drugs.



German carmakers may have colluded on diesel systems: Spiegel

Fri, 21 July 2017 22:10:09 +0800

Germany's carmakers VW , BMW , Audi, Porsche may have colluded to fix the prices of diesel emissions treatment systems using industry committees, German magazine Der Spiegel reported on Friday.



Wanted: Housewives to beat staff crunch at Japan's FamilyMart

Fri, 21 July 2017 20:05:14 +0800

Japan's second-largest convenience store chain hopes it has found an answer to its labor problems - housewives.



Court blocks US$18 billion British class action against MasterCard

Fri, 21 July 2017 22:55:09 +0800

A 14 billion pound (US$18 billion) class action lawsuit against MasterCard for allegedly overcharging more than 45 million people in Britain over a 16-year period was blocked from proceeding by a judge, MasterCard said on Friday.



Wall Street dips as GE, energy shares weigh

Sat, 22 July 2017 04:30:11 +0800

U.S. stock index futures were slightly lower on Friday, but continued to hover around record levels, as investors took cues from earnings reports of industrial heavyweights General Electric and Honeywell.



GE profit slumps; shares in 'limbo' as investors await new CEO's targets

Fri, 21 July 2017 22:10:12 +0800

General Electric Co reported a 12 percent drop in quarterly revenue as weakness in its energy connections business offset strength in renewables and power units.



UK sidelined as Europe looks beyond Brexit in aerospace

Fri, 21 July 2017 18:40:09 +0800

Britain risks losing clout in the aerospace industry, one of its largest skilled employers, due to concerns over its departure from the European Union, a corporate overhaul at Airbus and a new Franco-German push on defense, industry insiders say.



French banks could create 1,000 jobs in Paris post-Brexit: lobby

Fri, 21 July 2017 18:15:09 +0800

French banks could shift about 1,000 jobs currently based in London to Paris to keep staff in the European Union after Britain exits the EU, said the French Banking Federation.



Audi to recall 850,000 diesel cars to update emissions software

Fri, 21 July 2017 18:35:05 +0800

Luxury car maker Audi has launched a recall for up to 850,000 diesel-fueled cars to update vehicle software controlling emissions in a bid to avoid potential driving bans, it said on Friday.



More than 100 SMEs adopt IMDA's Go Digital programme

Fri, 21 July 2017 15:30:43 +0800

More than 100 small- and medium-size enterprises have adopted 24 digital solutions under the Go Digital programme.



Crimean scandal prompts Siemens to retreat from Russian energy

Sat, 22 July 2017 03:45:09 +0800

Germany's Siemens tried to distance itself from a Crimean sanctions scandal on Friday, halting deliveries of power equipment to Russian state-controlled customers and reviewing supply deals.



Euro at two-year high, Asian shares barely budge

Fri, 21 July 2017 08:55:12 +0800

The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.



Tech group sides with Apple in Qualcomm's iPhone ban dispute

Fri, 21 July 2017 06:20:14 +0800

REUTERS: A group representing major technology companies has aligned itself against Qualcomm Inc in its legal dispute with Apple Inc by calling on regulators to reject Qualcomm's bid to ban the import of iPhones. A lobbying group that represents Alphabet Inc's Google, Amazon.com Inc, Microsoft ...



Ex-Akebia employee faces losing bail in insider trading case

Fri, 21 July 2017 05:15:11 +0800

A former Akebia Therapeutics Inc employee accused of insider trading faced the growing possibility of having his bail revoked as a U.S. prosecutor argued on Thursday that he posed a flight risk and was growing "increasingly unhinged."



Delta proceeds with New York's LaGuardia US$4 billion project without Goldman

Fri, 21 July 2017 04:50:08 +0800

Transportation officials on Thursday approved a revised US$4 billion plan from Delta Air Lines to renovate its terminal at New York's LaGuardia Airport after Goldman, Sachs & Co , a financial partner in the project, exited the deal.



Volkswagen fined US$154m more in US for dieselgate

Fri, 21 July 2017 04:50:04 +0800

NEW YORK: Volkswagen must pay an additional US$154 million to California to settle state environmental charges in the latest penalty in the scandal over its use of emissions "defeat devices," regulators announced on Thursday (Jul 20). The sum is on top of US$533 million VW already paid to ...



Microsoft profit rises on shift to cloud computing

Fri, 21 July 2017 06:07:47 +0800

SAN FRANCISCO: Microsoft on Thursday (Jul 20) reported that its quarterly profit climbed to US$6.5 billion, lifted by its shift to computing services hosted in the internet cloud. The US technology giant said revenue in the recently ended quarter rose to US$23.3 billion, with US$7.4 billion of ...



Retailers slide as Nasdaq ekes out third record close

Fri, 21 July 2017 04:40:38 +0800

NEW YORK: The Nasdaq edged to its third straight record close on Thursday (Jul 20) while the Dow dipped following mixed earnings, and home improvement retailers tumbled on news of Amazon's latest venture. Trading was muted after all three leading US indices finished at records on Wednesday, as ...



Visa beats profit estimates, raises earnings forecast

Fri, 21 July 2017 04:45:06 +0800

Payments processor Visa Inc's quarterly revenue jumped nearly 26 percent as more people made payments using its network.



UAW talking to GM about impact of car sales slump on US jobs

Fri, 21 July 2017 05:45:15 +0800

The president of the United Auto Workers union expressed concern on Thursday about the impact of slumping U.S. car sales at General Motors Co on auto plants and jobs.



Carrefour's Diniz hails Brazil IPO, shares slip

Fri, 21 July 2017 04:10:16 +0800

Carrefour SA board member Abilio Diniz said on Thursday the initial public offering of the retailer's Brazilian unit shows the country is overcoming its harshest recession in a century as shares slipped in their market debut.



Trump unveils companies' US$500 million US drug packaging project

Fri, 21 July 2017 04:15:13 +0800

Corning Inc said at an event with U.S. President Donald Trump on Thursday that it plans to spend US$500 million and create 1,000 jobs in the United States making a new kind of glass for vials and cartridges to hold injectable drugs.



Trump administration's NAFTA demands make sense: Union Pacific CEO

Fri, 21 July 2017 03:10:12 +0800

The list of priorities U.S. Trade Representative Robert Lighthizer released this week for the renegotiation of NAFTA with Mexico and Canada is reasonable and in line with what the Trump administration has promised to focus on, the head of America's largest railroad said on Thursday.



EU examines emissions collusion by German car makers: Handelsblatt

Fri, 21 July 2017 02:15:15 +0800

The European Commission is examining whether German automakers colluded in systems they used to clean exhaust emissions as part of investigations triggered by the Volkswagen scandal, the Handelsblatt daily reported on Thursday.



Eurozone markets slip on powerful euro rally

Fri, 21 July 2017 01:00:38 +0800

LONDON: Eurozone markets gave up earlier gains on Thursday (Jul 20) after ECB chief Mario Draghi's assurances of no change in stimulus policy sent the euro soaring to a nearly two-year high. "The lack of change from the European Central Bank initially kept stocks in positive territory, but the ...



Google, EU dig in for long war

Fri, 21 July 2017 00:30:39 +0800

BRUSSELS: Google and the EU are gearing up for a battle that could last years, with the Silicon Valley behemoth facing a relentless challenge to its ambition to expand beyond search results. Brussels has already spent seven years targeting Google, fuelled by a deep apprehension of the company's ...



US fines Exxon US$2m over sanctions violations under Tillerson

Fri, 21 July 2017 04:11:20 +0800

WASHINGTON: The United States on Thursday (Jul 20) hit oil giant ExxonMobil with a US$2 million fine for violating Ukraine-related sanctions at a time when Secretary of State Rex Tillerson was still in charge of the company. The Treasury Department said Exxon had business dealings with Igor Sechin ...



Bombardier wins dismissal of Comerica aircraft payments lawsuit

Fri, 21 July 2017 00:05:15 +0800

Bombardier Inc has won the dismissal of a U.S. lawsuit in which Comerica Inc sought millions of dollars after the Canadian aircraft maker was unable to find buyers for four planes whose leases had expired.



UAW head believes US Nissan workers would vote for union now

Thu, 20 July 2017 23:55:12 +0800

United Auto Workers president Dennis Williams said on Thursday he feels "very strongly" that if Nissan Motor Co Ltd workers at the automaker's plant in Canton, Mississippi voted now, they would vote in favor of union representation.



US claims for jobless benefits drop in mid-July

Thu, 20 July 2017 23:50:39 +0800

WASHINGTON: New claims for US jobless benefits tumbled in mid-July to their lowest level in two months, further evidence of a persistently tight labour market, according to Labour Department data released on Thursday (Jul 20). The data suggested the US unemployment rate could remain near the ...



Invest in digital infrastructure to ease burden on fast-growing cities: Koh Poh Koon

Thu, 20 July 2017 23:30:38 +0800

SINGAPORE: Urban planners were on Thursday (Jul 20) urged to invest in digital infrastructure as a way of easing the burden on fast-growing cities. Speaking at the Asia Urban Governance Leaders Forum, Senior Minister of State for National Development Dr Koh Poh Koon mooted the use of digital ...



Europe's cashed-up companies get comfy with capex

Thu, 20 July 2017 22:30:15 +0800

Sitting on US$1 trillion in cash and emerging from years of caution, European companies are now showing the strongest year-on-year growth in capital spending plans in the world.



Banks hope to keep staff in London if soft Brexit deal struck

Thu, 20 July 2017 22:25:11 +0800

Banks which are shifting operations to avoid disruption once Britain leaves the European Union hope only a handful of people will eventually have to leave London, industry sources say.



Citigroup says may need to create 150 jobs in EU due to Brexit

Thu, 20 July 2017 21:00:08 +0800

U.S. bank Citigroup said on Thursday that it may need to create 150 new jobs in the European Union to deal with the impact of Britain leaving the bloc, as it confirmed it would headquarter its EU trading operations in Frankfurt.



Few hints at stimulus exit from 'persistent, patient' ECB

Thu, 20 July 2017 22:46:58 +0800

European Central Bank chief Mario Draghi on Thursday played down suggestions the institution might soon wind down its massive economic stimulus, saying policymakers must be "persistent and patient" faced with low inflation.



Sears to sell Kenmore appliances on Amazon

Thu, 20 July 2017 20:35:19 +0800

Sears Holdings Corp said its Kenmore brand of home appliances would now be available on Amazon.com , sending the struggling retailer's shares up 7 percent in premarket trading on Thursday.



Air France unveils Joon, an airline for millenials

Thu, 20 July 2017 21:09:15 +0800

Air France on Thursday unveiled a new lower-cost subsidiary called Joon that will specifically target well-travelled millenials.



Abbott raises full-year profit forecast

Thu, 20 July 2017 20:40:18 +0800

Diversified healthcare company Abbott Laboratories reported a 55 percent drop in quarterly profit on Thursday, hurt by higher costs.



Germany vows economic steps against Turkey as row escalates

Fri, 21 July 2017 02:12:05 +0800

Germany on Thursday vowed stinging measures impacting tourism and investment in Turkey and a full "overhaul" of their troubled relations, signalling its patience had snapped after Ankara's arrests of human rights activists.



Wall Street flat as home improvement retailers get Amazoned

Fri, 21 July 2017 04:45:09 +0800

U.S. stock index futures were little changed on Thursday, a day after all three major indexes closed at record highs helped partly by technology stocks, while investors remained optimistic about earnings.



China's banned books fade from Hong Kong

Thu, 20 July 2017 19:10:35 +0800

The annual Hong Kong book fair has always been a source of politically sensitive titles banned in China, but this year fewer were on display as the city faces growing pressure under an increasingly assertive Beijing.



Turkey's Simsek says no probe of Daimler, BASF, welcomes German investment

Thu, 20 July 2017 19:35:15 +0800

Press reports that Turkey is investigating Germany's Daimler and chemicals giant BASF are "completely false", Deputy Prime Minister Mehmet Simsek said on Twitter on Thursday, adding that Ankara welcomed German investors.



Oman Air in talks with Airbus, Boeing to expand wide-body fleet to 25 jets

Thu, 20 July 2017 19:00:12 +0800

Oman's national airline is in talks with planemakers Airbus and Boeing to expand its wide-body fleet to 25 jets and hopes to conclude the deal in the next two to three months, its chief executive said on Thursday.



Philippines eyes opening telecoms to foreign control

Thu, 20 July 2017 18:59:04 +0800

Limits on foreign ownership of the Philippine telecom industry should be lifted to attract investment and improve its service, a senior minister said Thursday.



Britain still likely to refer Murdoch's Sky deal for further scrutiny

Thu, 20 July 2017 18:30:17 +0800

Britain said on Thursday it still intended to refer Rupert Murdoch's bid to buy pay-TV group Sky for further scrutiny to assess whether it would give the media mogul too much influence.



BlackBerry wins right to sell secure messaging tools to US government

Thu, 20 July 2017 18:05:14 +0800

BlackBerry Ltd said on Thursday it has won the right to sell tools for encrypting phone calls and text messages to the U.S. federal government, garnering an endorsement from the National Security Agency for the products.



Insider trading probe into Deutsche Boerse CEO still open: prosecutor

Thu, 20 July 2017 17:55:17 +0800

FRANKFURT: Deutsche Boerse chief executive Carsten Kengeter has not yet been exonerated from insider trading allegations, officials said on Thursday. On Tuesday, a public statement from Deutsche Boerse spoke of a deal from the Frankfurt prosecutor in which Kengeter would be cleared of any ...



Asia, Europe track Wall St records, dollar under pressure

Thu, 20 July 2017 17:40:38 +0800

HONG KONG: Asian and European markets extended their latest rally on Thursday (Jul 20) following across-the-board records on Wall Street where traders were buoyed by another day of strong earnings. Better-than-forecast results from New York titans IBM and American Express helped to fuel a buying ...



Exclusive: US Cardinal Health puts US$1.5 billion China business on block - sources

Thu, 20 July 2017 17:30:07 +0800

U.S. drug distributor Cardinal Health has put its China business up for sale, drawing keen interest from state-backed Chinese pharmaceutical firms in a deal that may be worth up to US$1.5 billion, sources familiar with the matter said.



US, China fail to agree on trade issues, casting doubt on other issues

Thu, 20 July 2017 17:45:24 +0800

WASHINGTON: The United States and China failed on Wednesday (Jul 20) to agree on major new steps to reduce the US trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing. The annual economic dialogue session in Washington ended with ...



Bank of Japan slashes annual inflation forecasts

Thu, 20 July 2017 17:09:15 +0800

The Bank of Japan on Thursday slashed its annual inflation forecast and once again delayed its timetable for hitting a two per cent target as the economy struggles to gain traction despite years of stimulus.



Blackstone raising at least US$3 billion in first Asia PE fund: sources

Thu, 20 July 2017 17:55:14 +0800

Blackstone Group LP is seeking to raise up to US$3 billion in its first Pan-Asia buyout fund for investments in sectors including high-end manufacturing and healthcare, people familiar with the plan told Reuters.



Audi pulls 'sexist' China ad after public outcry

Thu, 20 July 2017 16:42:11 +0800

German automaker Audi apologised on Thursday over an advertisement it aired in China that was slammed as sexist for showing a bride-to-be being roughly examined like a piece of livestock.



Company director fined S$3,500, penalised S$100,000 for abusing PIC scheme

Sat, 22 July 2017 10:40:10 +0800

SINGAPORE: A company director has been found guilty of declaring false information under the Productivity and Innovation Credit (PIC) scheme, according to the Inland Revenue Authority of Singapore (IRAS) on Thursday (Jul 20).  Selladorai Dharmalingam, director of Al Bright Construction, was fined ...



Activist fund Elliott adds potash to list of BHP grievances

Thu, 20 July 2017 14:20:23 +0800

Activist shareholder Elliott Management said it has deep concerns over a proposal by BHP to enter the currently over-supplied fertilizer market, reiterating its call for change at the mining giant.



Backing of workers, communities key to Libya's oil revival

Thu, 20 July 2017 18:35:11 +0800

When the head of Libya's state energy company visited Sharara oil field in early July, community leaders and workers crowded into a conference room to ask about jobs, training and services for local people.



Strong export demand to lift Asian economies: ADB

Thu, 20 July 2017 13:20:57 +0800

Surging global demand for Asian exports and low oil prices will help China and the region's developing economies grow faster than expected this year and next, the Asian Development Bank said Thursday.



Goldman's rotten trading quarter is a familiar smell on Wall Street

Thu, 20 July 2017 13:10:14 +0800

Big Wall Street banks have spent billions of dollars and untold man-hours in recent years transforming their trading desks from hedge-fund like operations trading on their own account into market-making businesses offering a price based on what customers want to buy or sell.



Japan trade balance returns to surplus in June

Thu, 20 July 2017 09:40:01 +0800

Japan logged a trade surplus of nearly $4 billion in June, rebounding from a deficit the previous month, but its politically sensitive surplus with the United States slipped, government data showed Thursday.



L3 Technologies CEO to retire, COO to take over

Thu, 20 July 2017 09:25:07 +0800

Aerospace communication systems provider L3 Technologies Inc said on Wednesday that Chief Executive Officer (CEO) Michael Strianese would retire and Christopher Kubasik, who is currently the chief operating officer (COO), would succeed him.



Commentary: The dangers of lashing out at harsh online reviews

Thu, 20 July 2017 15:57:06 +0800

Social media amplifies bad reviews that once would barely have been noticed. The Financial Times' Pilita Clark explores whether businesses have grounds to shoot back at harsh reviewers.



Amazon launches shopping social network Spark for iOS

Thu, 20 July 2017 05:15:10 +0800

Amazon.com Inc has launched a social feature called Spark that allows members to showcase and purchase products on its platforms, the retail giant's first clear move into the world of social media.



American Express profit dips on higher costs, but beat estimates

Thu, 20 July 2017 04:55:12 +0800

REUTERS: American Express Co's profit fell less than expected in the second quarter, as higher spending by card members made up for increased costs from offering rewards. AmEx said card member spending was up 8 percent in the second quarter ended June 30, when adjusted for currency changes and the ...



Facebook in talks with publishers on supporting subscription models

Thu, 20 July 2017 04:50:09 +0800

REUTERS: Facebook Inc is in early talks with several news publishers about how its social media site can better support subscription business models, the company's head of news partnerships, Campbell Brown, said in a statement on Wednesday. The statement comes a day after TheStreet reported that ...



Qualcomm's profit slumps amid Apple battle

Thu, 20 July 2017 04:55:09 +0800

REUTERS: Qualcomm Inc reported a 40 percent slump in quarterly profit as its escalating patent battle with Apple Inc took a toll on its business. Shares of the company were down 2.3 percent at US$55.40 after the bell on Wednesday. The chipmaker said its results took a hit as Apple's contract ...



Dow, S&P 500, Nasdaq end at new records

Thu, 20 July 2017 04:36:55 +0800

NEW YORK: Wall Street stocks jumped to fresh records on Wednesday (Jul 19) on higher oil prices, better-than-expected housing data and mostly solid earnings. All three major US stock indices finished at new records, with the Dow Jones Industrial Average rising 66.02 points (0.31 per cent) to 21 ...



US judge allows VW bondholder suit to continue

Thu, 20 July 2017 03:35:11 +0800

A federal judge in California on Wednesday allowed some claims to proceed by bondholders who sued Volkswagen AG over its diesel emissions scandal, but agreed to the German automaker's request to dismiss parts of the lawsuit.