Business

US, UK to test big bank collapse in joint model 12 Oct 2014 - 01:17 am

WASHINGTON: Regulators from the United States and the United Kingdom will get together in a war room next week to see if they...

Venezuela wants Opec meet to halt price drop 12 Oct 2014 - 01:17 am

CARACAS: Venezuela will ask for an emergency meeting of Opec countries to try to halt sliding oil prices, Foreign Minister Rafael Ramirez said....

FedEx workers reject union representation 12 Oct 2014 - 01:17 am

New Jersey: Workers at a New Jersey facility of package delivery company FedEx Corp unit FedEx Freight voted against union membership, the latest...

GE unit in talks to buy Milestone Aviation 12 Oct 2014 - 01:16 am

New york: General Electric Co’s finance arm is in talks to buy Milestone Aviation Group Ltd, as the US conglomerate looks to expand...

Virtual currency founder extradited to face US charges 12 Oct 2014 - 01:16 am

NEW YORK: The founder of virtual currency firm Liberty Reserve, Arthur Budovsky, was extradited on Friday from Spain to face US criminal charges...

Finland loses one of eurozone’s last top credit ratings 12 Oct 2014 - 01:16 am

HELSINKI: Finland dropped out of the small group of euro nations with a full set of top credit ratings as Standard & Poor’s...

GT to cut jobs, wind down sapphire plant; takes aim at Apple 12 Oct 2014 - 01:16 am

San Francisco: GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple...

Commodities: Brent at 4-year low; coffee soars 12 Oct 2014 - 01:15 am

Current fuel prices are shown at a Chevron gas station in Encinitas, California. LONDON: Brent oil prices tumbled this week to a four-year...

Global cues shave 1pc off India markets 12 Oct 2014 - 01:15 am

Mumbai: Dogged by weak global and domestic cues, the benchmark index of the Indian equities markets lost nearly a percent in the week...

In oil price war, Saudi’s top rival is next door 12 Oct 2014 - 01:13 am

NEW YORK/SINGAPORE: Kuwait, Saudi Arabia’s traditional Gulf ally, is challenging its bigger neighbour in an increasingly competitive battle for market share as it...

Tesla unveils electric car for bad weather 11 Oct 2014 - 12:50 am

An all-wheel-drive version of the Tesla Model S car up for test drives in Hawthorne, California, yesterday. LOS ANGELES: Electric car giant Tesla...

China campaign against high pricing 11 Oct 2014 - 12:49 am

Customers look at cars at an Audi dealership from the Baoxin Auto Group in Shanghai yesterday. A government campaign in China against the...

Canada real estate business rises 11 Oct 2014 - 12:48 am

Condominiums under construction in Toronto. Canadian housing starts rose modestly in September as builders broke ground on more multiple-unit dwellings.

China-Australia coal tariffs 11 Oct 2014 - 12:48 am

A worker unloads coal at a storage site in Shenyang, Liaoning province in China. Australia must hold urgent talks with China to exempt...

Saudi tells Opec it raised output in September 11 Oct 2014 - 12:46 am

LONDON: Top oil exporter Saudi Arabia told Opec it raised its oil production in September by 100,000 barrels per day, adding to signs...

Oil falls to lowest since 2010 11 Oct 2014 - 12:45 am

LONDON: Brent crude oil hit its lowest since 2010 yesterday, falling below $90 a barrel as Saudi Arabia said it increased production last...

India’s weak industrial data dims recovery hopes 11 Oct 2014 - 12:39 am

NEW DELHI: Indian industrial production was unexpectedly weak in August, official figures yesterday showed, suggesting that recovery of Asia’s third-largest economy may still...

Malaysia bank giants eye merger 11 Oct 2014 - 12:39 am

KUALA LUMPUR: Two of Malaysia’s largest financial institutions, CIMB Group and RHB Capital, said they plan to merge along with a property lending...