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Published: Thu, 14 December 2017 09:16:48 +0800


Asia stocks edge higher after Fed meeting; dollar, US yields sag

Thu, 14 December 2017 09:00:10 +0800

Asian stocks edged higher on Thursday after the Federal Reserve delivered a much-anticipated interest rate hike but flagged caution about inflation, tempering expectations for future tightening, which weighed on the dollar and Treasury yields.

Bumper crop of new drugs fails to lift big pharma R&D returns

Thu, 14 December 2017 08:10:15 +0800

It is shaping up to be a bumper year for drug approvals, with U.S. officials clearing twice as many novel medicines as in 2016, yet returns on research investment at leading pharmaceutical companies are down.

Disney deal set to value Fox at more than US$75 billion: source

Thu, 14 December 2017 07:10:17 +0800

Walt Disney Co's deal to buy film, television and international businesses from Rupert Murdoch's Twenty-First Century Fox Inc will value the latter at over US$40 per share, or US$75 billion, a person familiar with the matter said.

Disney, Fox in focus on Wall Street as deal talk heats up

Thu, 14 December 2017 06:45:57 +0800

NEW YORK: Walt Disney Co. and 21st Century Fox shares were in the spotlight on Wednesday (Dec 13) amid reports the two media-entertainment powerhouses were readying a major deal for some of Fox's prized television and film assets. The Wall Street Journal reported the deal - in which Disney would ...

Dutch-Belgian supermarket to battle Amazon on two fronts

Thu, 14 December 2017 06:30:28 +0800

Unlike investors who sold off rival food retail stocks in response to Amazon's plan to buy Whole Foods, Ahold Delhaize boss Dick Boer took the news in stride.

Dow ends at record on tax bill progress, Fed outlook

Thu, 14 December 2017 05:50:53 +0800

NEW YORK: The Dow finished at another record on Wednesday (Dec 13) as the Federal Reserve lifted interest rates and a major US tax cut bill in Congress moved closer to the finish line. The Dow Jones Industrial Average gained 80.63 points (0.33 per cent) to 24,585.43. The broad-based S&P 500 ...

Fed's Yellen says no risks to stability 'flashing red' as markets boom

Thu, 14 December 2017 05:24:18 +0800

WASHINGTON: Amid booming stock markets that have hit repeated records, Federal Reserve Chair Janet Yellen said on Wednesday (Dec 13) she does not see any risks to financial stability "flashing red" for regulators. She said the high stock prices are not a risk factor that the central bank is ...

US court removes creditor hurdle to a Westinghouse bankruptcy plan

Thu, 14 December 2017 03:50:30 +0800

A U.S. judge shot down on Wednesday a request by creditors of Westinghouse Electric Co LLC for a bigger role in the nuclear technology company's bankruptcy just days after its parent company Toshiba Corp proposed a restructuring plan.

Lockheed Martin may top Boeing in race to supply Canada jets: experts

Thu, 14 December 2017 06:30:31 +0800

Canada's decision to make it harder for Boeing Co to win a major jet order hands rival plane maker Lockheed Martin Corp an advantage in capturing the contract, defense experts said on Wednesday.

Exclusive: Saudi Aramco to push ahead with market share, expansion strategy - CEO

Thu, 14 December 2017 03:25:23 +0800

Saudi Aramco, the world's largest oil producer, aims to regain its lost market share after the OPEC-led supply-cut pact ends and plans to push ahead with a downstream expansion strategy to be on par with Big Oil, its chief executive said on Wednesday.

Austria's Niki in trouble as Lufthansa drops bid

Thu, 14 December 2017 03:41:15 +0800

BERLIN: Austrian airline Niki said on Wednesday (Dec 13) that it would stop flying from Thursday after German giant Lufthansa gave up plans to buy it from bankrupt Air Berlin in the face of EU competition concerns. Niki said earlier that it had applied to open insolvency proceedings following ...

Delta may place order for 100 Airbus A321neo jets: sources

Thu, 14 December 2017 03:10:23 +0800

Delta Air Lines looked close on Wednesday to placing an order for 100 Airbus A321neo jets in a boost for the European planemaker as it tries to narrow a 2017 order gap against Boeing , two people familiar with the matter said.

Fed raises interest rates, keeps policy outlook unchanged for 2018

Thu, 14 December 2017 06:35:14 +0800

The Fed's policy-setting Federal Open Market Committee increased the key lending rate to 1.25-1.5 percent, an increase of a quarter point.

Ford to shift midsize sedan production out of Mexico: sources

Thu, 14 December 2017 05:51:29 +0800

Ford Motor Co plans to consolidate global production of midsize sedans in China in 2020 and ship them to the United States and Europe, three sources said on Wednesday.

T-Mobile unveils plans for US pay TV service

Thu, 14 December 2017 01:30:40 +0800

WASHINGTON: US wireless carrier T-Mobile said on Wednesday (Dec 13) it would launch a pay TV service in 2018, aiming to disrupt the dominant cable and satellite providers. The number three US wireless firm, controlled by German-based Deutsche Telekom, said it had acquired Layer3 TV, a startup ...

UK jobless rate holds at lowest since 1975

Thu, 14 December 2017 00:40:39 +0800

LONDON: Britain's unemployment rate remains at a 42-year low, official data showed on Wednesday (Dec 13), but workers' wages are still being eroded by inflation. The jobless rate - or the proportion of the workforce that is unemployed - stood at 4.3 per cent in the three months to the end of ...

US Fed Reserve set to raise rates at final meeting of 2017

Wed, 13 December 2017 23:50:39 +0800

WASHINGTON: The US central bank on Wednesday (Dec 13) was poised to raise the benchmark interest rate for the third and final time this year, meaning the focus will now shift to the policy plans for next year. The widely expected move will come as inflation begins to show some flickers of life ...

OPEC now sees oil market in balance within a year

Wed, 13 December 2017 23:42:02 +0800

PARIS: Supply and demand in the global oil market are likely to balance out by the end of 2018 thanks to a pick-up in demand, notably from the transport sector, OPEC said on Wednesday (Dec 13). Demand is projected to grow by 1.51 million barrels per day (mb/d) next year, compared to an already ...

Wall Street extends gains slightly after expected Fed rate hike

Thu, 14 December 2017 03:40:17 +0800

NEW YORK: The three major U.S. stock indexes were higher on Wednesday after the Federal Reserve raised U.S. interest rates by a quarter percentage point, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S ...

Novartis generics arm says may sell or end some products

Wed, 13 December 2017 22:45:18 +0800

Swiss drugmaker Novartis's Sandoz generics business is in the process of selling or closing some products in the United States, it said on Wednesday.

Congress secures tax deal, Trump backs 21-percent corporate rate

Thu, 14 December 2017 03:20:12 +0800

WASHINGTON: Congressional Republicans have reached a deal on final tax legislation, the U.S. Senate's top Republican tax writer said on Wednesday, with President Donald Trump saying he would back a sharply lowered corporate tax rate of 21 percent. The 21 percent rate would be slightly above a ...

Want cheaper British car insurance? Mind how you shop

Wed, 13 December 2017 22:10:19 +0800

Ever wondered what your shopping habits say about your driving? Britain's big supermarkets have.

Energy costs push US consumer inflation higher as Fed meets

Thu, 14 December 2017 01:04:04 +0800

WASHINGTON: Mounting energy costs helped drive US consumer prices higher in November, according to government data released on Wednesday (Dec 13), but analysts said the report did not show a clear upward trend in inflation. The Federal Reserve is widely expected to raise benchmark interest rates ...

Sports Direct shareholders veto payment to brother of founder Mike Ashley

Wed, 13 December 2017 21:10:25 +0800

Independent shareholders in Sports Direct on Wednesday voted against paying the brother of founder Mike Ashley 11 million pounds (US$14.7 million) for work as an IT expert.

WTO meeting ends in stalemate after US rebukes, member vetoes

Thu, 14 December 2017 06:05:26 +0800

Trade ministers looked set to wrap up their biennial World Trade Organization (WTO) meeting without having reached a single agreement on Wednesday, still reeling from criticism brought by the United States, once the WTO's driving force.

Airbus leadership under fire as crisis deepens

Thu, 14 December 2017 03:25:29 +0800

Airbus is engulfed in a fresh bout of speculation over the future of senior managers as corruption probes rattle the aerospace company and add fuel to a long-running clash of egos at the top, people familiar with the group said.

Weird but cute: Japan's capsule toys play big in Internet age

Wed, 13 December 2017 20:19:29 +0800

A tiny replica of an ancient Egyptian sarcophagus and a plastic cat squatting on sushi: Just two of the weird-and-wonderful capsule toys that have become a multi-million-dollar craze in cute-obsessed Japan.

Westfield US$16 billion Unibail-Rodamco sale rings the bell on retail's next chapter

Wed, 13 December 2017 19:20:22 +0800

For investors in Australia's Westfield Corp , its US$16 billion sale to European property giant Unibail-Rodamco may mark a turning point for a mall industry under pressure to reinvent itself amid fierce online competition.

Asia markets mostly up ahead of Fed, dollar slips on Alabama poll

Wed, 13 December 2017 18:00:43 +0800

Asian markets mostly rose on Wednesday (Dec 13) as investors await the Federal Reserve's latest policy meeting, but the dollar slipped as a shock Democrat poll win in a staunchly Republican senate seat fuelled fears about Donald Trump's tax cut plans.

Britain must obey EU environment rules for post-Brexit air deal: campaigners

Wed, 13 December 2017 17:47:28 +0800

The EU must make Britain's air industry sign up to the bloc's environment rules if it wants to keep access to European skies after Brexit, a campaign group warned in a report Wednesday.

South Korea bans its banks from dealing in Bitcoin

Wed, 13 December 2017 17:46:23 +0800

SEOUL:  South Korea on Wednesday (Dec 13) banned its financial institutions from dealing in virtual currencies such as Bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country. The hyper-wired country has emerged as a hotbed for cryptocurrency ...

Westfield shares soar after Unibail-Rodamco takeover

Wed, 13 December 2017 16:47:54 +0800

SYDNEY: Shares in Australian shopping centre giant Westfield soared Wednesday (Dec 13) after French property firm Unibail-Rodamco agreed to buy the group, with founder Frank Lowy congratulated on his "impeccable timing". In a deal valuing Westfield at US$24.7 billion, shareholders will receive the ...

Toyota and Panasonic eye joint development of new EV batteries

Wed, 13 December 2017 17:26:53 +0800

TOKYO: Japan's Panasonic and Toyota said on Wednesday (Dec 13) they will consider jointly developing batteries for electric vehicles. The move could help Panasonic extend its lead as the world's largest automotive lithium-ion battery manufacturer. The announcement builds on an existing agreement ...

Fed raises interest rates, keeps 2018 policy outlook unchanged

Thu, 14 December 2017 07:20:11 +0800

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth.

Manhattan luxury condo sales skew apartment prices: Survey

Wed, 13 December 2017 14:40:23 +0800

A boom in newly built luxury apartments in Manhattan has skewed prices for the overall residential real estate market in the borough and masked a sharp drop in transaction volume over the past five years, a property report on Wednesday showed.

Uber picks new head for Indonesia business

Wed, 13 December 2017 12:55:26 +0800

Uber Technologies Inc unveiled on Wednesday a new head of its Indonesian operations in a market where the online taxi company faces cutthroat competition, regulatory uncertainty and a reported U.S. probe into whether it broke bribery laws.

Singapore's 2017 growth forecast upgraded to 3.3%: MAS survey

Wed, 13 December 2017 22:44:22 +0800

SINGAPORE: Singapore's economic growth this year is expected to come in at 3.3 per cent, according to private-sector economists polled in a quarterly survey by the Monetary Authority of Singapore (MAS) released on Wednesday (Dec 13). This forecast is higher than the 2.5 per cent median forecast in ...

Oil recovers on big US crude stock drawdown

Wed, 13 December 2017 11:35:19 +0800

Oil prices rose in early Asian trade on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.

First 'serious incident' for Japan bullet train as crack found

Wed, 13 December 2017 11:19:57 +0800

A crack has been found in a Japanese "bullet train" that could have caused a derailment, officials said Wednesday, in the first-ever "serious incident" for the iconic mode of transport.

Unemployment rate for Singaporeans drops to 3.2% in Q3

Wed, 13 December 2017 22:32:21 +0800

SINGAPORE: The labour market in Singapore continued to improve in the third quarter, with the seasonally adjusted unemployment rate for citizens declining from 3.3 per cent in June to 3.2 per cent in September, said the Manpower Ministry (MOM) in a report released on Wednesday (Dec 13). Overall ...

15 sites to be released in first half 2018 Government Land Sales Programme

Wed, 13 December 2017 22:30:59 +0800

SINGAPORE: Six Confirmed List sites and nine Reserve List sites will be released as part of the first half 2018 Government Land Sales (GLS) Programme, the Government announced in a press release on Wednesday (Dec 13). These sites can yield about 8,045 private residential units and 63,960 sq m ...

Lyft starts Canada service in first international foray

Wed, 13 December 2017 09:20:18 +0800

U.S. ride-hailing company Lyft Inc on Tuesday launched its service in Toronto, marking the first time it has taken its battle against the much larger Uber Technologies Inc outside of the United States.

Ex-Trump aide Carter Page tells court to stop AT&T Time Warner deal

Wed, 13 December 2017 10:30:10 +0800

Former Trump campaign adviser Carter Page argued in court papers on Tuesday that AT&T Inc should not be permitted to buy CNN parent Time Warner Inc because there was a risk it would lead to "recklessness" in journalism.

Dow, S&P 500 end at records as banking shares gain

Wed, 13 December 2017 05:27:21 +0800

NEW YORK: The Dow and S&P 500 pushed to fresh records on Tuesday (Dec 12), with financial shares especially strong amid progress in Congress on the tax cut plan and expectations for higher interest rates. The Dow Jones Industrial Average rose 118.77 points (0.49 per cent) to 24,504.80, its third ...

Bitcoin hits another record high in march toward US$20,000

Wed, 13 December 2017 05:15:13 +0800

NEW YORK: Virtual currency bitcoin hit another all-time peak on Tuesday, two days after the launch of the first ever bitcoin futures on a U.S. exchange and ahead of the start of another futures contract next week, as investors grew optimistic that the US$20,000-mark is within reach. On Sunday ...

Twitter makes 'tweetstorms' easier with 'threads'

Wed, 13 December 2017 04:56:09 +0800

SAN FRANCISCO: Twitter said on Tuesday (Dec 12) said it would make it easier for users to build "tweetstorms" by linking together posts in "threads" to expound at length at the famously short-form messaging service. The move comes just a month after Twitter rattled the twitterverse by doubling the ...

Oil settles lower after rally on pipeline outage; Brent premium narrows

Wed, 13 December 2017 10:05:08 +0800

HOUSTON: Oil prices fell sharply on Tuesday, as traders took profits after prices surged early to a two-year high on an unplanned closure of the pipeline that carries the largest North Sea crude oil grade. Brent crude settled down US$1.35, or 2 percent, at US$63.34. U.S. crude settled at US$57 ...

Trump administration holds talks with airlines, keeps pressure on Gulf carriers

Wed, 13 December 2017 03:50:12 +0800

The Trump administration met with major airlines on Tuesday to discuss complaints that some Gulf states are unfairly subsidizing state-owned carriers, keeping up pressure on the Middle East airlines at the center of a spat with U.S. rivals.

Airbus CEO Enders will not seek a third mandate: Figaro

Wed, 13 December 2017 03:15:25 +0800

Tom Enders has told the French Presidency he will not seek a third mandate as chief executive of European planemaker Airbus , Le Figaro daily reports on its website.

Tezos director resigns, sowing more uncertainty at crypto startup

Wed, 13 December 2017 06:35:09 +0800

One of the three board members of the Swiss foundation that conducted the online fundraiser for the embattled Tezos cryptocurrency tech project has resigned, Reuters has learned.

European stocks rise as US Fed Reserve meets

Wed, 13 December 2017 01:30:41 +0800

LONDON: Global stock markets were higher on Tuesday (Dec 12), as investors prepared themselves for a likely increase in US interest rates. On Wall Street, the Dow rose from record peaks, lifted by a Boeing dividend boost. And on this side of the Atlantic, all of the main indices ended the session ...

EU warns British airlines on post-Brexit flying

Wed, 13 December 2017 21:50:10 +0800

British airlines will lose all flying rights to the European Union if there is no transition agreement after Brexit, the EU executive said on Tuesday, a stark reminder of the risks facing the aviation sector if there is no deal.

US Fed opens policy meeting; interest rate hike likely

Wed, 13 December 2017 02:21:34 +0800

It would be the third rate hike this year, and possibly the final time Federal Reserve Chair Janet Yellen presides over a policy move since President Donald Trump has opted to replace her in February.

VW's truckmaker Scania appeals 880 million euro fine for price fixing

Wed, 13 December 2017 00:30:21 +0800

Swedish truckmaker Scania said on Tuesday it had filed an appeal against a decision by the European Commission to fine it 880 million euros (US$1 billion) for taking part in a price fixing cartel.

Ryanair pilots intensify pan-Europe strike action

Wed, 13 December 2017 00:28:52 +0800

LONDON: Ryanair pilots turned up the heat on the embattled airline on Tuesday (Dec 12), with German pilots saying they were planning walkouts, while pilots in Ireland announced a one-day strike before Christmas. The powerful German pilots' union Cockpit said members would strike at Ryanair for ...

Dow opens higher; Fed's rate hike in focus

Tue, 12 December 2017 22:50:19 +0800

The Dow Jones Industrial Average opened higher as energy stocks gained and shares of Boeing touched a record high, while the S&P and the Nasdaq opened flat ahead of the Federal Reserve's policy meeting.

Icahn calls for new leadership at Xerox

Tue, 12 December 2017 22:30:35 +0800

Activist investor Carl Icahn on Tuesday called for new leadership at Xerox Corp , the maker of printers and copiers, a day after he named four nominees to the company's board of directors.

Goldman Sachs to have Labour over for tea as City seeks warmer ties

Tue, 12 December 2017 22:10:16 +0800

The British Labour Party's would-be finance minister, John McDonnell, has accepted an invitation for talks at the Wall Street bank Goldman Sachs as it seeks better relations with a political party whose leaders have pilloried bankers.

Banks, companies turn against coal as leaders seek cash for climate

Tue, 12 December 2017 22:40:55 +0800

PARIS: Major banks and companies vowed on Tuesday (Dec 12) to accelerate the move away from Earth-warming fossil fuels as world leaders met in Paris seeking to unlock new cash for the global economy's shift to greener energy. Two years to the day since 195 nations sealed the Paris Agreement to ...

German watchdog recalls VW Touaregs over defeat devices

Tue, 12 December 2017 21:30:21 +0800

Germany's KBA automotive watchdog said it has ordered Volkswagen to recall 57,600 diesel models of its Touareg sport-utility vehicle (SUV) after detecting two illicit emission-control devices in tests.

PepsiCo makes biggest public pre-order of Tesla Semis: 100 trucks

Wed, 13 December 2017 02:15:25 +0800

PepsiCo Inc has reserved 100 of Tesla Inc's new electric Semi trucks, the largest-known order of the big rig, as the maker of Mountain Dew soda and Doritos chips seeks to reduce fuel costs and fleet emissions, a company executive said on Tuesday.

Trump's push to cut federal jobs has modest impact, mostly in defense

Tue, 12 December 2017 20:05:34 +0800

President Donald Trump's campaign to shrink the "bloated federal bureaucracy" so far has made a small dent in the federal workforce, and that largely because of a decline in civilian defense jobs.

India's markets regulator probes prescient messages in WhatsApp groups

Tue, 12 December 2017 20:05:28 +0800

India's market regulator is "seriously" looking into the issue of prescient messages on company results circulated by market insiders in private WhatsApp groups, its chairman said on Tuesday, a sign the investigation is gaining momentum.

German pilots union steps up pressure on Ryanair with strike call

Tue, 12 December 2017 19:40:24 +0800

German pilots' union Vereinigung Cockpit said strike action at Ryanair was possible in Germany, as of now, as staff join pilots in other countries in pushing for better conditions at the Irish budget carrier.

Elections won't change stable business climate in Malaysia: Treasury Secretary-General

Tue, 12 December 2017 19:20:40 +0800

Entrepreneurs need not worry about Malaysia's looming elections as it is a stable country with a stable government and "nothing will change", Treasury Secretary General Irwan Serigar told Channel NewsAsia on Tuesday (Dec 12).

China-backed buyer aims to fund US$5.2b HK skyscraper deal mostly via debt-sources

Tue, 12 December 2017 19:09:45 +0800

HONG KONG: The China-backed buyer of a Hong Kong skyscraper from billionaire Li Ka-shing for a record US$5.2 billion is seeking to borrow as much as 90 per cent to fund the deal, according to a term sheet seen by Reuters and people with knowledge of the matter. The unusually high leverage level ...

Philippines's Duterte offers third telecom slot to China

Tue, 12 December 2017 18:14:07 +0800

Philippine President Rodrigo Duterte has offered China Telecom a slot to be the country's third telecom provider to break up the dominance of two local firms, his spokesman said Tuesday.

Audi CEO drops plan to sell motorcycle brand Ducati

Tue, 12 December 2017 18:16:35 +0800

INGOLSTADT, Germany: Germany's Audi has abandoned plans to sell its Italian motorcycle brand Ducati, its chief executive Rupert Stadler said, in a sign of confidence that the carmaker expects to be able to carry the costs of its transformation. Steps to reduce costs by €10 billion (US$11.8 ...

Asian markets struggle after latest gains, eyes on central banks

Tue, 12 December 2017 17:20:40 +0800

Asian markets mostly fell after a recent rally as investors cashed in while also looking ahead to key central bank meetings that could provide some idea about monetary policy in the new year.

France's Unibail-Rodamco to buy Australia's Westfield mall giant

Tue, 12 December 2017 16:26:47 +0800

SYDNEY: French property giant Unibail-Rodamco is to buy Australia's Westfield shopping mall operator in a deal to create "a global property leader", the two groups said in a statement on Tuesday (Dec 12). The deal, which values Westfield at US$24.7 billion, would "create the world's premier ...

France's AXA to step up investments in green projects to US$11b by 2020

Tue, 12 December 2017 16:19:08 +0800

PARIS: French insurer AXA announced on Tuesday (Dec 12) it would quadruple its investments in environmentally-friendly projects by 2020 to €9 billion (US$10.60 billion) and disinvest further from the coal industry. "In 2015 AXA committed to reach €3 billion in green investments by 2020. Given that ...

Dutch company bids S$487m for white coffee chain OldTown

Tue, 12 December 2017 15:40:41 +0800

LONDON: Dutch company Jacobs Douwe Egberts (JDE) has offered to buy Malaysian coffee company OldTown Berhad for RM1.47 billion (S$487 million) as the private company looks to further expand its global coffee empire. JDE, a global coffee and tea business operator, has offered RM3.18 per share for ...

France's Unibail-Rodamco bids US$15.7 billion for Australia's Westfield

Tue, 12 December 2017 18:35:09 +0800

France's Unibail-Rodamco SE has agreed to acquire Australian mall owner Westfield Corp for US$24.7 billion including debt, in what would be the biggest takeover of an Australian company on record.

Retail sales down 0.1% year-on-year in October

Tue, 12 December 2017 13:25:01 +0800

SINGAPORE: Retail sales fell 0.1 per cent in October compared to the previous year, according to figures released by the Department of Statistics (Singstat) on Tuesday (Dec 12). Excluding motor vehicles, retail sales increased 0.8 per cent from the previous year. On a month-on-month seasonally ...

'Unprecedented growth' to see Southeast Asia's Internet economy hit US$50B in 2017: Study

Tue, 12 December 2017 17:32:03 +0800

Southeast Asia's Internet economy is expected to hit US$50 billion (S$67.55 billion) this year amid "solid growth" across all sectors, such as e-commerce and ride-hailing, according to a joint study by Google and Temasek.

Monsanto offers cash to US farmers who use controversial chemical

Tue, 12 December 2017 09:05:11 +0800

Monsanto Co will give cash back to U.S. farmers who buy a weed killer that has been linked to widespread crop damage, offering an incentive to apply its product even as regulators in several U.S. states weigh restrictions on its use.

Exxon to provide details on climate-change impact to its business

Tue, 12 December 2017 09:00:10 +0800

Exxon Mobil Corp on Monday said it would publish new details about how climate change could affect its business in a move aimed at appeasing critics and forestalling another proxy fight next year.

Oil hits two-and-a-half year high on pipeline shutdown, stocks take breather

Tue, 12 December 2017 19:40:20 +0800

Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in U.S. borrowing costs this week.

Uber fights ban on cash payments in Mexican state

Tue, 12 December 2017 07:30:14 +0800

Uber Technologies Inc said on Monday that it had appealed regulations that have barred it from accepting cash fares in the Mexican state of Puebla, in a new challenge to clampdowns on the ride-hailing service in Latin America.

Atos offers to buy Gemalto for 4.3b euros to boost cybersecurity services

Tue, 12 December 2017 13:52:53 +0800

French technology consulting firm Atos offered to buy Gemalto for 4.3 billion euros (US$5.06 billion) on Monday to boost its cyber security services as states and big corporations seek to cope with a growing number of attacks on the Internet worldwide.

Bitcoin rises in debut as SEC warns on digital money

Tue, 12 December 2017 07:20:39 +0800

NEW YORK: Bitcoin experienced some big swings but finished higher in its debut on a major exchange on Monday (Dec 11), while a leading US securities regulator warned investors about the risks of cryptocurrencies. Bitcoin futures for January delivery finished at US$18,850.00 near 2115 GMT on its ...

Commentary: Blindly following best practice can make lemmings of us all

Tue, 12 December 2017 07:27:39 +0800

Slavishly mimicking good examples may lead leaders and workers to the cliff edge, says the Financial Times’ Andrew Hill.

ANZ Bank sells life insurance arm to Zurich for US$2.14b

Tue, 12 December 2017 06:49:49 +0800

SYDNEY: ANZ Bank said on Tuesday (Dec 12) it has offloaded its life insurance arm to Zurich for Aus$2.85 billion (US$2.14 billion), making the Swiss giant the country's largest retail life insurer by premiums. It follows National Australia Bank selling most of its life insurance business to ...

Cutting US electric vehicle tax credit 'will have an impact': GM

Tue, 12 December 2017 06:15:12 +0800

General Motors Co Chief Executive Mary Barra said on Monday that if Congress decides to eliminate an electric vehicle tax credit it "will have an impact" on sales of electric vehicles such as GM's Chevrolet Bolt.

Comcast drops bid for Fox assets, leaving Disney in pole position

Tue, 12 December 2017 07:35:09 +0800

Comcast Corp said on Monday it had abandoned its bid for most of the assets of Twenty-First Century Fox Inc , leaving Walt Disney Co as the sole suitor in pursuit of the US$40 billion-plus deal.

Boeing lifts dividend by 20 percent, sets new US$18 billion share buyback

Tue, 12 December 2017 06:00:10 +0800

Boeing Co said on Monday it would raise its quarterly dividend by 20 percent to US$1.71 per share and replace its existing share repurchase program with a new US$18 billion authorization.

Dow, S&P 500 end at records, Apple gains on Shazam buy

Tue, 12 December 2017 05:30:39 +0800

NEW YORK: The Dow and S&P 500 edged to fresh records on Monday (Dec 11) led by technology shares, including Apple, which rose following its acquisition of song recognition app Shazam. US stocks were in positive territory for almost the entire session, brushing aside concerns over an explosion ...

HSBC draws line under Mexican cartel case after five-years on probation

Tue, 12 December 2017 05:00:13 +0800

HSBC drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties.

Ryanair's Dublin pilots vote for strike action

Tue, 12 December 2017 03:24:52 +0800

LONDON: Ryanair pilots in Dublin have voted for strike action, the airline confirmed on Monday (Dec 11), the latest in a succession of staffing woes for the no-frills carrier. The unspecified industrial action was backed by less than 28 per cent of around 300 pilots based in the Irish capital for ...

Zurich Insurance to buy ANZ's life insurance businesses for US$2.14 billion

Tue, 12 December 2017 03:20:11 +0800

Zurich Insurance has agreed to buy ANZ's OnePath Life insurance businesses for 2.85 billion Australian dollars (US$2.14 billion), the latest and largest foray by the Swiss company into the Australian market.

Verizon to pay US$2.25 billion to NFL for five-year streaming deal: source

Tue, 12 December 2017 02:00:20 +0800

Verizon Communications Inc will pay around US$2.25 billion for a five-year partnership with the National Football League that allows users to stream games on its Yahoo and go90 platforms as well as on mobile devices, a source told Reuters on Monday.

Ryanair pilots in Dublin vote in favor of industrial action

Tue, 12 December 2017 01:55:12 +0800

Pilots employed directly by Ryanair in Dublin, its second largest base, have voted overwhelmingly in favor of taking industrial action in a growing dispute over the airline's collective bargaining system, the IMPACT trade union said on Monday.

Apple buys song recognition app Shazam

Tue, 12 December 2017 07:16:10 +0800

The two companies did not disclose financial terms. The technology news sites Recode and TechCrunch, quoting unnamed sources, both put the deal at around US$400 million.

US Treasury says Senate tax plan would boost revenue US$1.8 trillion

Tue, 12 December 2017 01:20:39 +0800

WASHINGTON: The US Senate version of the tax overhaul plan would pay for itself over 10 years, boosting growth and generating US$1.8 trillion in additional revenues, the Treasury Department said Monday. The Republican plan is expected to generate GDP growth of about 2.9 per cent over the next ...

European markets mostly fall as central banks in focus

Tue, 12 December 2017 01:10:39 +0800

LONDON: European stock markets mostly fell on Monday (Dec 11), with investors treading water ahead of key central bank policy meetings later this week, traders said. On the other side of the Atlantic, Wall Street stocks edged higher as investors shrugged off an explosion near Times Square that ...

Hackers hit US, Russian banks in ATM robbery scam-report

Tue, 12 December 2017 02:05:12 +0800

A previously undetected group of Russian-language hackers silently stole nearly US$10 million from at least 18 mostly U.S. and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said on Monday.

UBS leads blockchain data reporting pilot ahead of new EU rules

Tue, 12 December 2017 00:30:20 +0800

Financial companies led by Swiss bank UBS are testing a blockchain platform to help them comply with new European Union trade data standards due to come into force next year.

Saudi Arabia to cut oil exports to Asia in January

Tue, 12 December 2017 00:30:40 +0800

RIYADH: Saudi Arabia said on Monday (Dec 11) it will trim crude exports to Asian customers in January to help accelerate the rebalancing of the international oil market. An energy ministry spokesman said state-owned Aramco will maintain "steady supplies to the United States and Europe while ...

US manufacturing, services see continued growth

Tue, 12 December 2017 01:59:25 +0800

WASHINGTON: US manufacturing and services firms expect to see a stronger economy and rising revenue into 2018, according to a semi-annual survey released on Monday (Dec 11). The companies project no let-down after many months of continuous growth, with the upbeat outlook across nearly all ...

VW sees 4-5 billion euros in outflows in 2018 due to dieselgate

Mon, 11 December 2017 23:20:15 +0800

Volkswagen expects cash outflows of 4-5 billion euros (US$4.7-5.9 billion) next year in relation to the dieselgate emissions cheating scandal, the carmaker's Chief Financial Officer Frank Witter told journalists on Monday.