Business / World Business

European business lobby says time is running out for China's reforms 20 Jun 2018 - 10:35 am

BEIJING: Time is running out for Beijing to fulfil its reform promises if it hopes to maintain stable growth, a top European business...

Lapses at many levels of bank led to India's huge PNB fraud, internal report shows 20 Jun 2018 - 09:03 am

MUMBAI/NEW DELHI: A $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it...

France, Germany agree to set up eurozone budget: Merkel 19 Jun 2018 - 06:35 pm

Meseberg, Germany: France and Germany have agreed to set up a common budget for the eurozone, Chancellor Angela Merkel said Tuesday, announcing a...

EU leaders to urge progress on digital tax despite concerns, draft says 19 Jun 2018 - 03:07 pm

BRUSSELS: European Union leaders are expected to call for progress on new rules to tax companies' digital revenues at a summit next week...

VW, Audi resume crisis talks after Audi CEO arrest - sources 19 Jun 2018 - 01:18 pm

Munich: Volkswagen bosses were locked in a second day of hastily convened meetings to address a leadership crisis sparked by the arrest of...

China accuses Trump of 'blackmail' after new tariffs threat 19 Jun 2018 - 09:32 am

Beijing: Beijing on Tuesday accused Donald Trump of "blackmail" and warned it would retaliate in kind after the US president threatened to impose...

Trump sets $50 bln in China tariffs with Beijing ready to strike back 15 Jun 2018 - 03:56 pm

WASHINGTON/BEIJING: US President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind,...

Volkswagen agrees to $1.2bn fine as diesel crisis grinds on 15 Jun 2018 - 12:43 am

Volkswagen AG will pay $1.2bn fine imposed by German prosecutors for cheating to get around diesel-emissions regulations, closing one chapter in a three-year-old...

China, US trade barbs on trade, territorial claim 14 Jun 2018 - 10:55 pm

Beijing: US Secretary of State Mike Pompeo and his Chinese counterpart Wang Yi traded barbs on trade and China's territorial claims Thursday, just...

Chicago, hounded by woes, sees electric carmaker Tesla’s Elon Musk's train as win for economy 14 Jun 2018 - 10:25 pm

Chicago, slammed by rating agencies for its fiscal woes, President Donald Trump for its violence and even its own governor for the school...

Etihad Airways hit by second consecutive annual loss 14 Jun 2018 - 05:35 pm

DUBAI: Etihad Airways reported on Thursday a second consecutive annual loss, blaming rising fuel prices, the cost of its ambitious turnaround plan and...

Rolls-Royce to axe 4,600 jobs in restructuring push 14 Jun 2018 - 03:47 pm

LONDON: British plane engine manufacturer Rolls-Royce said Thursday that it plans to cut 4,600 jobs over the next 2 years as part of...

Fox, Telemundo are the real winners of the 2026 World Cup vote 14 Jun 2018 - 12:38 am

As the U.S., Canada and Mexico revel in their selection as host of the 2026 World Cup, executives at 21st Century Fox Inc....

Siemens considers sale of flagship gas turbine business 14 Jun 2018 - 12:17 am

Berlin: Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants,...

Toyota dives into ride hailing as threats from GM, Waymo loom 14 Jun 2018 - 12:17 am

Toyota Motor Corp. is making the largest ever bet by an automaker on ride hailing as it embraces new businesses that threaten to...

Hong Kong consortium makes $9.8bn bid for Australia’s APA 14 Jun 2018 - 12:07 am

Sydney: A consortium led by Hong Kong’s CK Infrastructure Holdings made an unsolicited Aus$13bn (US$9.8bn) bid for gas pipeline company APA yesterday, with...

Comcast challenges Disney with $65B bid for Fox 13 Jun 2018 - 11:13 pm

NEW YORK: Comcast made a $65 billion bid Wednesday for Fox's entertainment businesses, setting up a battle with Disney to become the next...

White House defends allowing China's ZTE to buy US parts 13 Jun 2018 - 09:42 pm

WASHINGTON: The White House on Wednesday defended President Donald Trump's decision to allow Chinese telecom giant ZTE to resume buying component parts from...