Business

Wall St assessing fallout from oil price slide 07 Dec 2014 - 12:38 am

NEW YORK: With crude oil prices hitting five-year lows, investors are scrambling to gauge the impact of the sharp drop in petroleum costs...

Dow, S&P hit new records after robust US jobs report 07 Dec 2014 - 12:37 am

NEW YORK: The Dow and the S&P 500 climbed modestly to fresh record highs on Friday after a blockbuster US labour report showed...

Qatar’s higher bid for Canary Wharf rejected 06 Dec 2014 - 01:34 am

LONDON: The owner of London’s Canary Wharf yesterday rejected a raised £2.6bn ($4.1bn) bid for the financial district from Qatar and a North...

IMF chief in Chile 06 Dec 2014 - 01:32 am

International Monetary Fund (IMF) Managing Director Christine Lagarde (right) is greeted by Rodrigo Vergara, governor of the Central Bank of Chile, in Santiago,...

India kicks off privatisation drive; sells steel firm’s shares 06 Dec 2014 - 01:31 am

Labourers work at a steel factory in the outskirts of Agartala in India’s Tripura state. The new right-wing government kicked off its troubled...

Oil market slips after Saudi cuts crude price 06 Dec 2014 - 01:29 am

A customer looks at the price before filling the tank of her car at a fuel station in Sint Pieters Leeuw in Belgium...

Last despatch 06 Dec 2014 - 01:28 am

A car transporter loaded with Opel Zafira models leaves the plant on its final day of production in Bochum, Germany, yesterday. European carmaker...

Honda expands airbag recall to 6m 06 Dec 2014 - 01:21 am

TOKYO: Japanese automaker Honda said yesterday it was extending its US recall nationwide on cars with potentially deadly airbags made by auto parts...

GM’s recall of pickups affects 2,432 vehicles in US, Canada 06 Dec 2014 - 01:21 am

DETROIT: General Motors Co disclosed yesterday that it recalled more than 2,400 of its new mid-sized pickup trucks in the United States and...

EU may scrap bank reform plans 06 Dec 2014 - 01:20 am

BRUSSELS: The EU may scrap plans to force banks to separate risky trading activities from their core business following fierce opposition by the...

London Metal Exchange trims fee increase 06 Dec 2014 - 01:20 am

LONDON: The London Metal Exchange (LME) yesterday trimmed a proposed average increase in transaction fees to 31 percent from 34 percent after complaints...

12 smartphone brands violate privacy rules in Thailand 06 Dec 2014 - 01:19 am

TAIPEI: Taiwan has identified 12 smartphone brands that do not conform with privacy standards, and the handset makers could face fines or a...

Cyprus eases controls on capital outflows 06 Dec 2014 - 01:19 am

NICOSIA: Cyprus eased controls on capital outflows yesterday, in another step toward scrapping draconian measures imposed last year to avoid a run on...

New coins to help ease Zimbabwe cash crunch 06 Dec 2014 - 01:18 am

HARARE: Zimbabwe’s central bank unveiled special coins yesterday to ease a shortage of low denomination cash, which has forced shoppers to accept sweets...

European stocks bounce back 06 Dec 2014 - 01:18 am

LONDON: European stock markets rebounded yesterday following heavy losses the previous day, as investors closed out the trading week encouraged by a surge...

Saudi slashes January oil prices for Asian, US buyers 05 Dec 2014 - 09:55 am

A man changes the retail prices of oil at a gas station in Medford, Massachusetts, yesterday. LONDON: Saudi Arabia slashed its oil prices...

Sweden’s King at A350 plant 05 Dec 2014 - 09:52 am

Sweden’s King Carl XVI Gustaf and Queen Silvia listen to Airbus A350 programme chief Didier Evrard (right) as they visit the assembly line...

GE chief in France 05 Dec 2014 - 09:50 am

General Electric Chairman and CEO Jeffrey Immelt (centre) with GE France head Clara Gaymard (left) and Mark Hutchinson, who was named to lead...