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 Latest Business and Finance News
Fiat signals Chrysler merger on track [Reuters]
MILAN (Reuters) - Fiat signaled its merger with U.S. affiliate Chrysler was on track on Friday as a ...Detail
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Euro lifts, shares drift as ECB easing bets wane  [Reuters] 29 Aug, 2014
LONDON (Reuters) - The euro lifted off its lows and the region's shares sagged on Friday as a new five-year low in euro zone inflation was viewed as not extreme enough to force the European Central Bank back into its increasi ...
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Tragedy-hit Malaysia Airlines to lose 6,000 jobs in bold revamp  [Reuters] 29 Aug, 2014
KUALA LUMPUR (Reuters) - Malaysia Airlines (MAS) will slash nearly a third of its 20,000 workforce and cut back its global route network as part of a radical 6 billion ringgit ($1.9 billion) restructuring following the devastating ...
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Disappearing euro zone inflation set to heighten ECB concerns  [Reuters] 29 Aug, 2014
BRUSSELS/FRANKFURT (Reuters) - Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy interve ...
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Draghi dials R for Reform. Line is busy  [Reuters] 29 Aug, 2014
FRANKFURT (Reuters) - Two years ago, euro zone government leaders hung on Mario Draghi's every word. Now the European Central Bank chief is struggling to get through to them. What has happened to 'Super Mario's' ...
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Major Carlsberg shareholder cuts stake  [Reuters] 29 Aug, 2014
COPENHAGEN (Reuters) - The largest fund shareholder in Carlsberg , which has proven vulnerable to deteriorating conditions in Russia and has lowered its 2014 guidance, has cut its stake in the company by a quarter, the brewer said ...
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Euro zone inflation dips as expected in August  [Reuters] 29 Aug, 2014
BRUSSELS (Reuters) - Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, but it was not likely to force the European Central Bank into immediate policy intervention next week,
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Euro sags ahead of inflation test, Ukraine nerves weigh  [Reuters] 29 Aug, 2014
LONDON (Reuters) - The euro was near a year low and on course for a fourth week of falls on Friday ahead of what was expected to be another stodgy euro zone inflation reading, and as tensions with Russia over Ukraine kept the regi ...
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Bulgaria may let Corpbank depositors get partial access to accounts  [Reuters] 29 Aug, 2014
SOFIA (Reuters) - Depositors at Bulgaria's Corporate Commercial Bank (Corpbank) may get partial access to their funds at the troubled bank in September, Interim Finance Minister Rumen Porozhanov said on Friday.
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Malaysia Airlines to cut 6,000 jobs, de-list in $1.9 billion restructuring  [Reuters] 29 Aug, 2014
KUALA LUMPUR (Reuters) - Malaysia Airlines , the country's loss-making flag carrier, will cut 30 percent of its workforce as part of a sweeping restructuring that will cost 6 billion ringgit ($1.90 billion), majority investor ...
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Tesco shares drop on profit warning  [BBC News] 29 Aug, 2014
Tesco intraday chart Shares in the struggling supermarket Tesco have fallen more than 8% after the group cut its profit forecast and dividend.
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Malaysia Airlines to cut 6,000 staff  [BBC News] 29 Aug, 2014
Malaysia Airlines is to cut 6,000 staff as part of recovery plan after being hit by two air disasters this year.
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Malaysia Airlines to cut 6,000 jobs, spend $1.9 billion on restructuring: Khazanah  [Reuters] 29 Aug, 2014
KUALA LUMPUR (Reuters) - Malaysia Airlines will cut 30 percent of its workforce as part of a restructuring that will cost 6 billion ringgit ($1.90 billion), majority investor Khazanah Nasional [KHAZA.UL] said on Friday.
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Fiat says exit rights exercise won't jeopardize Chrysler merger  [Reuters] 29 Aug, 2014
MILAN (Reuters) - Fiat said on Friday its merger with Chrysler was on track to go ahead as planned in October since it did not expect a 500 million euro ($658.3 million) cap on the money it set aside to pay off any dissenting shar ...
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First PIA Hajj flight leaves for Jeddah from BKIA  [Business Recorder] 29 Aug, 2014
PESHAWAR: The first special Hajj flight of Pakistan International Airlines (PIA) carrying 323 intending pilgrims left Bacha Khan International Airport (BKIA) here for Jeddah on Friday morning.According to Hajj directorate, a total ...
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Traders, residents facing difficulties as PTI, PAT sit-ins continue  [Business Recorder] 29 Aug, 2014
ISLAMABAD: The small traders and labour community of the federal capital have expressed displeasure over the sit-ins of Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) that have badly hampered their businesses and ...
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'New Judicial Year' opening ceremony of Supreme Court to be held on September 8  [Business Recorder] 29 Aug, 2014
ISLAMABAD: New Judicial Year opening ceremony of the Supreme Court will be held on September 8 (Monday) with the end of the summer vacations.The ceremony will be held at 9-30 am at Court Room No 1 in the Supreme Court building.Acc ...
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Nationwide: House prices edge up  [BBC News] 29 Aug, 2014
House price calculator House prices edged up by 0.8% in August, according to the UK's biggest building society, the Nationwide.
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Tesco cuts its profit forecast  [BBC News] 29 Aug, 2014
The struggling supermarket Tesco cuts its profit forecast and the new chief executive's start date has been brought forward to Monday.
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China funds cut suggested equity allocations as hopes for recovery evaporate: Reuters poll  [Reuters] 29 Aug, 2014
SHANGHAI (Reuters) - Chinese fund managers will cut the proportion of their portfolios invested in stocks over the next three months, following July's upward trend, as hopes for a quick economic recovery falter, a Reuters pol ...
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Exclusive: Morgan Stanley plans natural gas export plant in new commodities foray  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - Morgan Stanley has quietly filed plans to build and run one of the first U.S. compressed natural gas export facilities, the first sign the bank is plunging back into physical commodity markets even as it sells ...
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China's Wanda, Tencent, Baidu to set up $814 million e-commerce company  [Reuters] 29 Aug, 2014
BEIJING (Reuters) - China's Dalian Wanda group and Tencent Holdings Ltd said on Friday they would set up a 5 billion yuan ($814 million) e-commerce joint venture with Baidu Inc , as the firms push into the high-growth e-comme ...
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Japan's economy signals weakness  [BBC News] 29 Aug, 2014
An employee of Toyota Motor's subsidiary Toyota Motor Kyushu  at the Kanda Plant in Kanda, Fukuoka Prefecture, on August 7, 2014 Japan's economy shows signs of stagnation and weakness as households spent less and factory output stays flat in July.
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Malaysia Airlines shares suspended pending announcement  [Reuters] 29 Aug, 2014
KUALA LUMPUR (Reuters) - Shares in Malaysia Airlines (MAS) will be suspended on Friday ahead of a material announcement.
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Virgin Australia trebles losses  [BBC News] 29 Aug, 2014
Virgin Australia posts an after-tax loss of A$355.6m ($332.6m; 200.5m) for the full year ending in June, triple the firm's previous year's losses for the period.
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U.S. banking group says unaware of any 'significant' cyber attack  [Reuters] 29 Aug, 2014
BOSTON (Reuters) - An influential U.S. financial services industry group that shares information about cyber threats has said it is unaware of any "significant" cyber attacks, downplaying concerns about possible breaches at JPMorg ...
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Japan household spending slumps, output flat as tax pain persists  [Reuters] 29 Aug, 2014
TOKYO (Reuters) - Japanese household spending fell more than expected and factory output remained anemic in July after plunging last month, government data showed on Friday, suggesting that soft exports and a sales tax hike in Apr ...
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Asian shares slump as Ukraine tensions flare  [Reuters] 29 Aug, 2014
TOKYO (Reuters) - Asian shares slumped in early trading on Friday, after flaring Ukraine tensions ruined investors' appetite for risk and bolstered the safe-haven yen.
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Vanishing euro zone inflation seen intensifying ECB policy headache  [Reuters] 28 Aug, 2014
BRUSSELS/FRANKFURT (Reuters) - If euro zone inflation falls deeper into the 'danger zone' as expected on Friday, it will at the very least complicate the European Central Bank's plans to wait and see whether its rec ...
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Ford, IBM win dismissal of 12-year lawsuit over apartheid abuses  [Reuters] 28 Aug, 2014
NEW YORK (Reuters) - A Manhattan federal judge has dismissed a 12-year-old lawsuit accusing Ford Motor Co and IBM Corp of encouraging human rights abuses in apartheid-era South Africa, reluctantly concluding that the case does not ...
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Bank of America seeks to void verdict in $1.27 billion 'Hustle' case  [Reuters] 28 Aug, 2014
NEW YORK (Reuters) - Bank of America Corp on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.
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