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Published: Tue, 20 February 2018 08:02:53 +0800


Mythical guitar-maker Gibson fighting for survival

Tue, 20 February 2018 07:40:38 +0800

World-famous guitar maker Gibson, whose instruments have been played by the likes of John Lennon and Elvis Presley, is facing serious financial problems that threaten its very existence.

Over half of Japan firms do not plan base pay rise this year

Tue, 20 February 2018 07:15:10 +0800

More than half of Japan's companies do not plan to raise base pay in annual wage talks in coming months, a set back for the prime minister and the country's main business lobby which has called for wage rises of 3 percent to fuel an economic revival.

Commentary: Remember the stupidity of crowds

Tue, 20 February 2018 06:30:41 +0800

Over-use of public engagement and online polls risks undermining core messages, says an observer from the Financial Times.

BoE's Carney says Bitcoin has 'pretty much failed' as currency

Tue, 20 February 2018 04:20:55 +0800

LONDON: Bitcoin has failed as a currency measured by the traditional benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday. "It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of ...

Uber suspends service in Morocco after two years

Tue, 20 February 2018 02:30:12 +0800

Uber said on Monday it would suspend operations in Morocco, two years after they began, as it tries to bring its business into line with local laws.

Latvian finance hit by alleged bribe-taking, money laundering

Tue, 20 February 2018 01:55:00 +0800

Latvia's financial sector was left reeling Monday after anti-corruption officials arrested its central bank chief over an alleged bribe and the country's third-largest bank's payments were frozen amid accusations of money laundering.

BlackRock raises US equities to overweight on earnings momentum

Tue, 20 February 2018 01:00:22 +0800

The world's biggest asset manager BlackRock has upgraded its view on U.S. equities to "overweight", citing very strong earnings momentum, while cutting European stocks to neutral.

Global mining deals jump 15 percent by value in 2017: EY

Tue, 20 February 2018 00:32:15 +0800

The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, as financial distress abated and companies sold off non-core assets.

KFC closes most of its UK stores due to chicken shortage

Tue, 20 February 2018 00:15:56 +0800

Fast-food chain KFC said on Monday it had been forced to close hundreds of its British stores because of a shortage of chicken.

Richard Branson announces Hyperloop plan for India

Mon, 19 February 2018 22:35:01 +0800

MUMBAI: Virgin Hyperloop One, the futuristic transport startup backed by British tycoon Richard Branson, has announced plans for a superfast rail network linking India's financial capital Mumbai to the city of Pune. The proposed hyperloop - which aims to deliver transport at near-supersonic speeds ...

Deutsche Bank to cut at least 250 investment banking jobs -source

Mon, 19 February 2018 21:50:10 +0800

Deutsche Bank is cutting at least 250 investment banking jobs in locations including London and the United States, a person familiar with the matter told Reuters, adding that the figure could rise to as many as 500.

Congress sets sights on federal cryptocurrency rules

Mon, 19 February 2018 22:17:05 +0800

WASHINGTON: Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in the Senate and ...

Budget 2018: Top marginal Buyer’s Stamp Duty rate to rise for homes worth more than S$1m

Mon, 19 February 2018 18:49:42 +0800

The revised BSD rates will apply to all residential properties acquired from Tuesday (Feb 20), and the new top marginal rate of 4 per cent will apply to the portion of residential property value which is in excess of S$1 million.

Alibaba, Tencent rally troops amid US$10b retail battle

Mon, 19 February 2018 18:13:17 +0800

SHANGHAI: China's tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd, worth a combined US$1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers' digital wallets. Since the start of last year, the two companies have between them spent ...

Indonesia inks US$1.1b deal with Russia to buy 11 jets

Mon, 19 February 2018 17:11:43 +0800

JAKARTA: Indonesia has inked a billion-dollar deal to buy 11 Sukhoi Su-35 jets from Russia, an official said Saturday (Feb 17). The contract, signed by both countries' representatives in Jakarta on Wednesday, is worth a total US$1.14 billion, Indonesia defence ministry spokesman Totok Sugiharto ...

Budget 2018: Extension of Wage Credit Scheme among short-term measures to help businesses

Mon, 19 February 2018 23:23:20 +0800

Apart from a three-year extension of the Wage Credit Scheme, Finance Minister Heng Swee Keat also announced a doubling of the corporate tax rebate as one of the near-term relief measures targeted at businesses.

South Korea's Moon says GM factory shutdown will be a blow to regional economy

Mon, 19 February 2018 15:14:08 +0800

SEOUL: South Korean President Moon Jae-in said on Monday (Feb 19) that General Motors' decision to shut down a factory south of Seoul will be a blow to the region and asked relevant government ministries to take measures to shore up economic activity there. GM announced last week it will shutter ...

India's federal investigators close bank branch at heart of fraud

Mon, 19 February 2018 15:30:15 +0800

India's federal police has sealed the Mumbai branch of Punjab National Bank at the center of a US$1.77 billion loan fraud involving billionaire jeweler Nirav Modi, state television said on Monday.

For timing of Aramco IPO, watch forward oil price curve

Mon, 19 February 2018 12:10:38 +0800

It's the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock market listing?

World stocks extend global recovery, set for sixth day of gains

Mon, 19 February 2018 18:16:03 +0800

Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs.

Eyes wide shut: The US$1.8b Indian bank fraud that went unnoticed

Mon, 19 February 2018 10:53:08 +0800

NEW DELHI/MUMBAI: The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical centre of one of the world's fastest growing major economies. The branch, clad in a stately colonial edifice, is now also at ...

Lego builds foundations in China classrooms as old markets slow

Mon, 19 February 2018 08:30:10 +0800

BEIJING/SHANGHAI: Danish toymaker Lego is hoping to build a following with Chinese parents by promoting its place in the classroom as well as the toy box. The firm, famous for its brightly colored building blocks, is working with local education departments, state schools and the private education ...

Commentary: Why the 30-hour work week is almost here

Mon, 19 February 2018 08:14:39 +0800

Work-life balance is typically discussed as a personal issue but maybe it's the system that needs to change, says one Financial Times observer.

Jittery US bond market braces for supply wave

Mon, 19 February 2018 04:35:09 +0800

NEW YORK: Bond investors, who have been on edge over signs of growing inflation and a possibly more aggressive Federal Reserve, will have their work cut out for them as the U.S. government seeks to sell US$258 billion worth of debt this coming week. The Treasury Department began ramping up its ...

India's Reliance, global tech firms to invest US$9.3 billion in industrial area

Mon, 19 February 2018 00:36:03 +0800

India's Reliance Industries Ltd and global technology companies will invest 600 billion rupees (US$9.34 billion) over 10 years to set up an integrated industrial area in the western state of Maharashtra, the company's chairman Mukesh Ambani said.

Saudi women can start business without male permission as easing of restrictions continues

Sun, 18 February 2018 19:40:16 +0800

RIYADH: Women in Saudi Arabia can now open their own businesses without the consent of a husband or male relative, as the kingdom pushes to expand a fast-growing private sector. The policy change, announced by the Saudi government on Thursday (Feb 15), also marks a major step away from the strict ...

Helping companies transform more important than 'big red packet': DPM Teo

Sun, 18 February 2018 18:50:38 +0800

SINGAPORE: Singapore must continue to prepare for the future by helping businesses transform and strengthening the nation's social support system, Deputy Prime Minister Teo Chee Hean said on Sunday (Feb 18). Noting that Finance Minister Heng Swee Keat will be releasing the Government’s Budget on ...

Commentary: The (not so) secret hack to becoming a successful entrepreneur

Sun, 18 February 2018 06:40:41 +0800

Is an overseas start-up experience essential to being an entrepreneur? National University of Singapore’s Francis Yeoh says there’s more than meets the eye.

Exclusive: Indian banks may take more than US$3 billion hit from PNB fraud - tax dept

Sun, 18 February 2018 00:30:11 +0800

Indian banks could take a hit of more than US$3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated.

China vows to protect interests as US eyes trade sanctions

Sat, 17 February 2018 20:18:25 +0800

China on Saturday warned it would take necessary measures to protect its interests if the US imposes tough trade sanctions against its steel and aluminium exports.

Stock volatility: back with a bang and here to stay

Sat, 17 February 2018 08:30:17 +0800

U.S. stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear.

ADM, Syngenta settle lawsuit over biotech corn exports to China

Sat, 17 February 2018 08:25:28 +0800

U.S. grain merchant Archer Daniels Midland Co has settled a lawsuit with Syngenta over the seed company's launch of a biotech corn strain that roiled grain exports to China, according to regulatory documents filed on Friday.

Exclusive: GE exploring industrial gas engine business sale - sources

Sat, 17 February 2018 08:20:15 +0800

General Electric Co is exploring a sale of its industrial gas engine business that could be worth as much as US$2 billion, according to people familiar with the matter.

The family bak kwa business that grew and grew: 6 lessons of Bee Cheng Hiang's success

Sat, 17 February 2018 09:53:19 +0800

A Chinese proverb says, ‘Wealth doesn’t pass three generations', but family business Bee Cheng Hiang has flourished with each transition. The programme Money Mind finds out why.

US seeks to block AT&T from citing Trump opposition in merger lawsuit

Sat, 17 February 2018 08:05:18 +0800

The U.S. Department of Justice on Friday moved to prevent AT&T Inc from arguing that politics played a role in the federal government's decision to stop its merger with Time Warner Inc , a deal that President Donald Trump had publicly criticized.

US stocks end strong week on mixed note

Sat, 17 February 2018 06:10:38 +0800

NEW YORK: Major US stock indices finished on a muted note on Friday (Feb 16) after a strong week, with the Dow and S&P 500 edging barely higher and the Nasdaq falling slightly. After a choppy session, the Dow Jones Industrial Average ended 19.01 points (0.08 per cent) higher at 25,219.38, its ...

Trader sues Fidelity over website glitch during market rout

Sat, 17 February 2018 05:55:14 +0800

A New Jersey trader filed a lawsuit against Fidelity Investments, accusing it of "gross negligence" because he could not make trades on the company's website earlier this month during a volatile time on the stock market.

Tesla delays, tax credit concerns spur sales of Chevy Bolts

Sat, 17 February 2018 05:15:16 +0800

SAN FRANCISCO: Some potential buyers of Tesla's long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co's Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with ...

Airbus concerned about German coalition's tougher stance on arm sales

Sat, 17 February 2018 04:30:20 +0800

The head of Airbus's defense unit criticized Germany on Friday for not spending more on defense and said the new coalition agreement's call for a tougher approach to arms exports could prompt the weapons maker to re-examine its business plans.

Airbus sees initial details of Franco-German fighter in second half 2018

Sat, 17 February 2018 03:45:12 +0800

Initial details of a planned Franco-German program to develop a next-generation fighter jet should emerge in the second half of 2018, the head of Airbus's defense unit told Reuters on Friday.

US eyes heavy tariffs on China, Russia to counter steel, aluminium glut

Sat, 17 February 2018 05:20:22 +0800

The US Commerce Department said Friday it recommended imposing tariffs on China, Russia and other countries to counter a global glut in steel and aluminium which it says threatens national security.

Uber plans to sell Southeast Asia business to Grab: Report

Sat, 17 February 2018 07:17:05 +0800

Uber Technologies is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter.

Facebook loses Belgian privacy case, faces fine of up to US$125 million

Sat, 17 February 2018 02:46:42 +0800

BRUSSELS: A Belgian court threatened Facebook on Friday with a fine of up to 100 million euros (US$125 million) if it continued to break privacy laws by tracking people on third-party websites. In a case brought by Belgium's privacy watchdog, the court also ruled that Facebook had to delete all ...

Takata has resolved most objections to its US bankruptcy: lawyer

Sat, 17 February 2018 01:30:13 +0800

A lawyer for Takata Corp's U.S. business, bankrupted by a recall of faulty air bags, indicated on Friday that the company is on the verge of receiving court approval for its reorganization and US$1.6 billion sale of its non-air bag businesses.

Starbucks executive Brotman who led mobile efforts leaving for J. Crew

Sat, 17 February 2018 01:06:14 +0800

Starbucks Corp said on Friday that Adam Brotman, who spearheaded the coffee shop chain's successful digital initiatives including mobile ordering and its loyalty program, is leaving for an executive position at J. Crew.

Shareholders sue GE over SEC investigation, insurance charges

Sat, 17 February 2018 00:41:12 +0800

Shareholders filed a proposed class-action lawsuit against General Electric Co on Friday, alleging the industrial conglomerate made misleading statements and failed to disclose information about an accounting investigation and about insurance policies that cost the company billions of dollars.

BMW says board member Froehlich not a candidate to replace Audi CEO

Fri, 16 February 2018 23:40:15 +0800

BMW on Friday denied a media report saying that Klaus Froehlich, board member responsible for research and development, was a potential candidate to succeed embattled Audi Chief Executive Rupert Stadler.

Intel hit with 32 lawsuits over security flaws

Sat, 17 February 2018 01:16:19 +0800

Intel Corp said on Friday shareholders and customers had filed 32 class action lawsuits against the company in connection with recently-disclosed security flaws in its microchips.

Boeing's 737 MAX-9 aircraft receives FAA approval

Fri, 16 February 2018 22:45:20 +0800

The world's largest plane maker Boeing Co said on Friday the U.S. Federal Aviation Administration had officially certified its 737 MAX-9 aircraft for commercial service.

Citigroup raises CEO Corbat's pay 48 percent to US$23 million

Fri, 16 February 2018 22:10:19 +0800

Citigroup Inc raised Chief Executive Officer Michael Corbat's annual compensation by 48 percent to US$23 million for 2017, a year in which the bank made more money from operations but still fell short of earlier targets.

Qualcomm says open to talks with Broadcom for better offer

Fri, 16 February 2018 21:30:19 +0800

Qualcomm Inc is open to discussing a buyout offer from Broadcom Ltd that "reflects the true value" of the chipmaker and better addresses concerns about regulatory hurdles to a deal, the company said on Friday.

Uber introduces new safety features as it fights to retain London license

Fri, 16 February 2018 22:10:22 +0800

Taxi service Uber, battling to retain its license to operate in the British capital, said on Friday it would introduce new safety features, including 24-hour telephone support for riders and drivers.

Wall Street on course for sixth day of gains

Sat, 17 February 2018 01:16:14 +0800

U.S. stock futures rose on Friday, set to build on a rally that has lasted five straight days as investors shrug off inflation fears and focus on growth in the economy and corporate profits.

Global stocks set for best week in six years, dollar sags

Fri, 16 February 2018 20:45:46 +0800

LONDON: World shares were set for their best week of gains in six years on Friday after two consecutive weeks in the red, shrugging off a rise in global borrowing costs while the dollar hit its lowest since 2014. MSCI's world index of stocks, which tracks shares in 47 countries, was up 0.3 percent ...

Campbell Soup organic sales fall as customer dispute continues

Fri, 16 February 2018 21:06:11 +0800

Campbell Soup Co on Friday reported quarterly revenue that marginally beat Wall Street estimates, helped by a rise in demand for its Pepperidge Farm Snacks.

Goldman Sachs and Macquarie seen as front runner in HES Terminals sale: sources

Fri, 16 February 2018 20:30:19 +0800

A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in the sale of European bulk port terminal operator HES International, worth around 2 billion euros (US$2.5 billion), industry sources said.

Kraft Heinz quarterly profit, sales miss estimates

Fri, 16 February 2018 20:45:49 +0800

Kraft Heinz Co's quarterly revenue missed analysts' expectations on Friday on weakening demand from retailers in the United States for processed foods such as peanuts and cheese.

Coca-Cola sales beat on strong sales of vitamin water, coffee

Sat, 17 February 2018 00:05:11 +0800

Coca-Cola Co reported a 20 percent fall in quarterly revenue on Friday as it continues to sell off its bottling operations, and recorded a US$3.6 billion charge related to the new U.S. tax laws.

U.S tractor firm Deere reports quarterly sales up 23 percent

Fri, 16 February 2018 19:55:21 +0800

U.S. tractor maker Deere & Co said on Friday net sales and revenues rose 23 percent year-on-year to US$6.91 billion in the quarter ending Jan. 28.

Wynn Resorts says ex-CEO Steve Wynn not entitled to severance pay

Fri, 16 February 2018 19:55:17 +0800

Wynn Resorts Ltd said on Friday that former chief executive Steve Wynn was not entitled to severance payments or any other compensation.

Asia markets higher as volatility fears ease

Fri, 16 February 2018 19:26:59 +0800

Asian stock markets climbed on Friday in thin holiday trade, led by gains in Tokyo, as volatility eased after last week's rollercoaster ride.

Air France-KLM, Delta study ways of keeping Alitalia in Skyteam

Fri, 16 February 2018 19:10:10 +0800

PARIS: Air France-KLM is studying with its U.S. partner Delta Air Lines ways of keeping Alitalia inside the Skyteam alliance: but without Air France-KLM being a buyer, Chief Executive Jean-Marc Janaillac said on Friday. However, the Franco-Dutch airline group is not directly involved in the ...

Warren Buffett's Valentine's Day surprise for investors

Fri, 16 February 2018 19:15:08 +0800

Warren Buffett had a Valentine’s Day surprise for investors in Teva Pharmaceutical Industries Ltd .   

Lost in translation? GM plant shutdown shocks South Korea

Fri, 16 February 2018 19:05:19 +0800

Only weeks into a new job heading General Motors Co's international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM's loss-making local unit.

Dashed hopes for Mexico oil boom leave Gulf Coast hotels idle

Fri, 16 February 2018 18:41:02 +0800

When a Mexican real estate investment trust bought four hotels along the country's Gulf coast operating under the Marriott, Quality Inn and Fiesta Inn brands, it expected the government's recent energy reform to attract droves of oil executives, engineers and technicians.

Hackers stole US$6 million from Russian bank via SWIFT system: central bank

Fri, 16 February 2018 18:25:36 +0800

MAGNITOGORSK, Russia: Unknown hackers stole 339.5 million roubles (US$6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday. The disclosure, buried at the bottom of a central bank report on digital ...

Exclusive: Walmart in talks to buy more than 40 percent of India's Flipkart - sources

Fri, 16 February 2018 18:10:52 +0800

Walmart Inc is in talks to purchase a stake of more than 40 percent in Indian e-commerce firm Flipkart, a direct challenge to Inc in Asia's third-largest economy, two sources familiar with the matter said on Friday.

Volkswagen's Audi unit head Stadler to leave in April: Bild

Fri, 16 February 2018 15:05:21 +0800

The chief executive of Volkswagen's luxury unit Audi, Rupert Stadler, will be replaced in April because of his unsuccessful handling of the diesel emissions scandal, German daily Bild reported on Friday.

As mining investors push caution, Glencore differs from rivals

Fri, 16 February 2018 15:00:12 +0800

As shareholders push the world's cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions.

US SEC denies Chicago Stock Exchange sale to China-based investors

Fri, 16 February 2018 12:40:08 +0800

The U.S. Securities and Exchange Commission on Thursday rejected the sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, saying there were unresolved questions about the ownership structure under such a deal and whether the SEC would have sufficient oversight of the ...

Volatility holds key to bank revenue revival from 2017 slump: survey

Fri, 16 February 2018 08:20:18 +0800

Revenues at the world's 12 biggest investment banks fell to their lowest levels since 2008 last year, a survey showed on Friday, while a return to more volatile global markets in 2018 could be a mixed blessing for their business.

GE moves to sell part of overseas lighting business: WSJ

Fri, 16 February 2018 07:35:10 +0800

General Electric has reached a deal to sell parts of its overseas lighting business to a company controlled by Joerg Bauer, the former president of GE Hungary, for an undisclosed amount, the Wall Street Journal reported on Thursday.

US stocks gain for 5th straight day, Dow +1.2%

Fri, 16 February 2018 05:51:23 +0800

NEW YORK: Wall Street stocks enjoyed more solid gains Thursday, climbing for a fifth straight session and shrugging off fresh data showing higher inflation. The Dow Jones Industrial Average rose 306.88 points (1.23 per cent) to end the day at 25,200.37. The broad-based S&P 500 jumped 32.57 points ...

Amazon to pay US$1.2 million in settlement over pesticide sales, US says

Fri, 16 February 2018 05:25:30 +0800

WASHINGTON: Inc will pay a US$1.2 million penalty to settle nearly 4,000 alleged violations of U.S. law in a move to prevent harmful exposure to pesticides through illegal sales, the U.S. Environmental Protection Agency said on Thursday. Amazon agreed to closely monitor and remove ...

CBS profit drops 85 percent on tax charge

Fri, 16 February 2018 05:25:33 +0800

Media company CBS Corp , which is exploring a merger with Viacom Inc , on Thursday reported a 85.2 percent drop in quarterly profit, largely due to a US$129 million charge related to the recent changes in the U.S. tax law.

Boeing stays in race to supply Canada with fighter jets: sources

Fri, 16 February 2018 03:25:15 +0800

Boeing Co , locked in a trade dispute with the Canadian government, has applied to stay in the race to supply Canada with 88 new fighter jets, three well-placed sources said on Thursday.

Renault board proposes renewal of CEO Ghosn, names Bollore COO

Fri, 16 February 2018 03:00:15 +0800

French carmaker Renault's board on Thursday proposed the renewal of CEO's Carlos Ghosn's position and appointed Thierry Bollore as chief operating officer.

AbbVie to buy back US$10 billion of shares, raises dividend

Fri, 16 February 2018 02:20:16 +0800

AbbVie Inc on Thursday said its board had approved a US$10 billion stock repurchase program, and the drugmaker also increased its quarterly dividend, as it reaped benefits from changes to the U.S. tax code.

Caterpillar vigorously contesting penalties proposed by IRS

Fri, 16 February 2018 02:05:25 +0800

Caterpillar Inc said on Thursday it was vigorously contesting the US$2.3 billion tax and penalties for certain years proposed by the Internal Revenue Service.

Bitcoin rises above US$10,000, strategist sees new high by July

Fri, 16 February 2018 04:35:15 +0800

Bitcoin rose above US$10,000 on Thursday for the first time in more than two weeks, as investors bought back the digital currency after having fallen 70 percent from its all-time peak hit around mid-December.

Macron praised as French economy powers ahead

Fri, 16 February 2018 01:42:31 +0800

The good news keeps coming for the French economy: data published Thursday showed unemployment at its lowest level since 2009 while the head of the IMF praised recent reforms by President Emmanuel Macron.

Thousands of FedEx customer records exposed by unsecured server

Fri, 16 February 2018 01:20:27 +0800

REUTERS: Global package delivery company FedEx Corp said on Thursday it has secured some of the customer identification records that were visible earlier this month on an unsecured server, and so far has found no evidence that private data was "misappropriated." The server stored more than 119,000 ...

US Bancorp to pay US$613 million for money-laundering violations

Fri, 16 February 2018 01:06:02 +0800

The U.S. Justice Department has reached a US$613 million settlement with U.S. Bancorp over charges that it willfully failed to have an adequate anti-money-laundering program, the department said on Thursday.

US watchdog to probe chairman's decisions in broadcast deal: Democrat

Fri, 16 February 2018 00:56:24 +0800

The Federal Communications Commission inspector general will investigate whether its chairman was biased in favor of Sinclair Broadcast Group Inc , which is seeking approval from the watchdog for a US$3.9 billion acquisition of Tribune Media Co , a member of Congress said on Thursday.

Thomson Reuters chair sought better terms for financial unit: WSJ

Fri, 16 February 2018 00:46:10 +0800

Thomson Reuters Corp Chairman David Thomson urged the company's board of directors to seek better terms for its US$17 billion sale of a large chunk of its business to Blackstone Group LP , the Wall Street Journal reported on Thursday, citing people close to the deal.

Cohen's Point72 wants lawsuit over hostility to women sent to arbitration

Fri, 16 February 2018 00:51:05 +0800

Billionaire investor Steven A. Cohen asked a U.S. judge to force a female executive to arbitrate her claims that his firm, Point72 Asset Management LP, maintains a hostile working environment where women are mistreated and paid less than men.

Delta says some CSeries deliveries will likely be Canadian imports

Fri, 16 February 2018 00:00:18 +0800

Delta Air Lines on Thursday said it intends to take as many U.S.-made Bombardier CSeries as possible, but at least some of its earlier deliveries will likely be Canadian imports due to contractual obligations on timing.

Halliburton says sand delivery delays to reduce first-quarter EPS by 10 cents

Thu, 15 February 2018 23:25:12 +0800

Halliburton Co's first-quarter earnings would be reduced by 10 cents per share due to delays in sand deliveries, a company executive said on Thursday.

Nivea maker Beiersdorf looking for new finance chief

Thu, 15 February 2018 23:15:15 +0800

Beiersdorf , the maker of Nivea and other skin care products, said on Thursday it is looking for a new finance chief, but declined to comment on a magazine report that said the move was due to the dissatisfaction of a major shareholder.

US producer prices rise in January; industrial output falls

Fri, 16 February 2018 01:20:30 +0800

U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.

Hedge fund Bridgewater makes US$22 billion bet against European firms

Thu, 15 February 2018 21:25:16 +0800

Bridgewater has shown its hand in Europe with a US$22 billion bet against some of the continent's biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world's largest hedge fund manager.

VW looks at Apple for electric-car design guidance

Thu, 15 February 2018 21:15:46 +0800

Volkswagen is looking at Apple products for guidance on how to style its new generation of electric cars, its top designer said, as the automaker aims to turn profits on battery-powered vehicles when they launch in 2020.

Wall St. rallies for fifth straight session on tech lift

Fri, 16 February 2018 05:20:14 +0800

Wall Street was set to open higher on Thursday, reclaiming further ground ceded during last week's sell-off, as investors brushed aside inflation data and preferred stocks over bonds for the fifth day in a row.

Avon Products quarterly sales miss estimates

Thu, 15 February 2018 20:06:03 +0800

Avon Products Inc on Thursday reported quarterly net sales that marginally missed analysts' estimates, as fewer shoppers purchased products from the cosmetic maker's army of sales representatives.

Britain's Burberry pairs up with Farfetch in online push

Thu, 15 February 2018 18:05:57 +0800

Burberry will team up with online retailer Farfetch to make all of its products available to internet shoppers in 150 countries, the British fashion company said on Thursday.

Airbus says US seeks information on UK/French corruption case

Thu, 15 February 2018 15:05:11 +0800

Airbus said on Thursday it had been asked to supply information to U.S. authorities about conduct at the center of a UK and French probe into the use of middlemen in jetliner sales, potentially drawing the United States into the corruption case.

Fresh A400M charge clouds strong Airbus 2017 profits

Thu, 15 February 2018 17:15:17 +0800

Airbus on Thursday took a 1.3 billion euros (US$1.6 billion) writedown on its A400M military transport plane, lifting cumulative charges on Europe's troubled defense project above 8 billion euros and clouding higher-than-expected underlying profits.

China's ZTE says is trusted partner after US concern

Thu, 15 February 2018 13:31:23 +0800

Chinese telecoms equipment group ZTE Corp hit back on Thursday against concerns from U.S. lawmakers that it is a vehicle for Chinese espionage, saying it was a trusted partner of its U.S. customers, state news agency Xinhua reported.

Commentary: Temper expectations about RCEP free trade agreement

Thu, 15 February 2018 12:10:48 +0800

It looks like India may be dragging its feet on some key issues within the Regional Comprehensive Economic Partnership but there’s good reason for all parties to manage their expectations, says one observer from the ISEAS-Yusof Ishak Institute.

Amazon says to create 2,000 jobs in France in 2018

Thu, 15 February 2018 11:05:44 +0800

U.S. online retail giant Amazon said on Thursday it will create 2,000 permanent contract positions this year in France, its largest market in Europe after Britain and Germany.