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 Latest Business and Finance News
At Mt. Gox bitcoin hub, 'geek' CEO sought both control and escape [Reuters]
TOKYO (Reuters) - In June 2011, when customers of now-bankrupt bitcoin exchange Mt. Gox agitated for ...Detail
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GM to battle VW in China with $12 billion investment and new plants  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it competes with aggressive rivals in the world's largest auto market.
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Mercedes, BMW chase ultra rich clients with new high end cars  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Premium auto maker BMW unveiled a luxury concept sedan in Beijing on Sunday, to gauge customer appetite for a car that would cost more than German manufacturer's current flagship 7 series limousine.
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Pfizer considers $100 billion bid for AstraZeneca: report  [Reuters] 20 Apr, 2014
LONDON (Reuters) - U.S. pharmaceutical giant Pfizer has approached British rival AstraZeneca to propose a 60 billion pound ($101 billion) takeover, Britain's Sunday Times reported.
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Pipeline delay gives boost to Obama's political base  [Reuters] 20 Apr, 2014
WASHINGTON (Reuters) - The latest delay to a final decision on the Keystone XL oil pipeline will reinforce a White House strategy to energize President Barack Obama's liberal-leaning base before fall elections in which Democr ...
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SBP to host D-8 Central Banks meeting  [Business Recorder] 20 Apr, 2014
KARACHI: State Bank of Pakistan (SBP) is hosting the Developing Eight (D-8) Countries' Central Banks Experts Meeting on promoting financial inclusion and Islamic Banking on April 21 at National Institute of Banking and Fin ...
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GM to invest $12 billion in China and plans more plants  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it steps up its presence to compete with aggressive rivals in the world's l ...
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In the driving seat: China's yuppies are new market force for global automakers  [Reuters] 20 Apr, 2014
SHANGHAI/BEIJING (Reuters) - Global automakers are scrambling to meet the demands of China's young urban professionals, who want a car that makes them stand out, yet don't always have the money to splurge on a top-end mo ...
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Federal govt to fully cooperate in probing Hamid Mir attack: Pervaiz  [Business Recorder] 20 Apr, 2014
KARACHI: Federal Minister for Information, Broadcasting and National Heritage Pervaiz Rashid Sunday assured the Sindh government of full cooperation in probing the attack on senior journalist and anchorperson Hamid Mir.Talking to ...
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CM expresses sorrow over the deaths in road mishap  [Business Recorder] 20 Apr, 2014
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has expressed his deep grief over the loss of lives in fatal traffic accident on National Highway near Pano Aqil on Sunday.In a statement, he expressed condolences and sympathies wi ...
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Pfizer mulls $100 billion bid for AstraZeneca: report  [Reuters] 20 Apr, 2014
LONDON (Reuters) - U.S. pharmaceutical giant Pfizer has approached British rival AstraZeneca to propose a 60 billion pound ($101 billion) takeover, the Sunday Times reported on Sunday.
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GM aims to boost Cadillac sales in China by 2015  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - General Motors Corp is aiming to sell 100,000 of its flagship Cadillac sedans by 2015 in China, rising from roughly 50,000 last year, as the U.S. car giant taps rising demand in the world's largest auto ma ...
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Premium car brands eye China's secondhand market  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Strong demand for new automobiles in China has laid the foundations for the next leg of business for carmakers BMW , Audi and Mercedes-Benz: the second-hand premium car market.
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South Africa's 'spaza' shops suffer as big retail rolls in  [Reuters] 20 Apr, 2014
SOWETO, South Africa (Reuters) - In this corner of South Africa's black township of Soweto, the biggest building used to be the Catholic church. Now it's been overshadowed by a shopping center and business has only gotte ...
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Two government agencies quit CBI  [BBC News] 20 Apr, 2014
Government agencies Scottish Enterprise and Visit Scotland have quit business lobby organisation CBI after it formally backed the campaign against Scottish independence.
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Daimler to sell DENZA electric car in China with local subsidy  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Daimler said its DENZA electric car will be eligible for local subsidies in China when it goes on sale there in September priced at 369,000 renminbi ($60,000).
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BMW in final stages of decision on potential new factory  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Germany's BMW is getting closer to deciding whether it will build a new factory, its board member Ian Robertson said on Sunday, as the luxury carmaker expands capacity to meet demand in key markets.
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Hyundai Motor unveils small SUV concept for China, to launch this year  [Reuters] 20 Apr, 2014
SEOUL (Reuters) - South Korea's Hyundai Motor on Sunday unveiled its small sport utility vehicle (SUV) concept targeted at the Chinese market, planning to join a flurry of rivals in tapping the growing segment in the world� ...
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Daimler sees double-digit percent growth in China sales in 2014  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Germany's premium carmaker Daimler expects to grow its sales in China, the world's largest auto market, by double-digit percentages this year, Chief Executive Dieter Zetsche on Sunday.
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Toyota to launch China-made Corolla, Levin hybrids in 2015  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Toyota Motor Corp plans to make and sell hybrid versions of its Corolla and Levin sedans in China next year, fitting them with locally-made components, in its first bid to entirely manufacture gas-electric hybr ...
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Toyota Motor aims to double sales in China to 2 million vehicles in future  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - Toyota aims to double auto sales in China to around 2 million vehicles a year in the future, a senior executive said on Sunday, as the top global car maker plays catchup to rivals, such as Volkswagen , in the w ...
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China set to replace U.S. as Volvo's biggest market this year  [Reuters] 20 Apr, 2014
BEIJING (Reuters) - China is set to surpass the United States to become Volvo Car Group's biggest market in 2014 with sales of at least 80,000 cars in the world's largest auto market.
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SEC weighs requiring brokers to identify where trades made: Bloomberg  [Reuters] 19 Apr, 2014
(Reuters) - The U.S. Securities and Exchange Commission is weighing a proposal that would require brokers to tell investors exactly where their stock trades are executed, Bloomberg reported on Saturday.
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VW has agreed budget car concept, design: manager  [Reuters] 19 Apr, 2014
BEIJING (Reuters) - Volkswagen has agreed the basic concept and design of a budget car for emerging markets, a VW manager told Reuters, nearing the project's completion after a long struggle to meet cost targets for the vehic ...
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Comcast in talks with Charter over divestitures: source  [Reuters] 19 Apr, 2014
(Reuters) - Comcast Corp is in talks with Charter Communications over selling or spinning off roughly 3 million subscribers worth approximately $18 billion to $20 billion as part of the divestitures related to its $45.3 billion ta ...
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VW to push electric cars in China as market opens  [Reuters] 19 Apr, 2014
BEIJING (Reuters) - Volkswagen will keep expanding Chinese operations and start selling battery-powered cars in the biggest auto market as the country rewards electric-vehicle buyers to tackle air pollution.
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Shahbaz condemns attack on Hamid Mir  [Business Recorder] 19 Apr, 2014
LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif here Saturday strongly condemned the attack on a prominent journalist Hamid Mir. He viewed that attack on Hamid Mir was an attack on freedom of expression. He also prayed for h ...
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TDAP committed to ensure maximum incentives to exporters  [Business Recorder] 19 Apr, 2014
FAISALABAD: The Trade Development Authority of Pakistan (TDAP) is determined to ensure maximum incentives and facilities to exporters. This was stated by TDAP CEO S.M. Munir while talking to a delegation of Faisalabad Chamber of C ...
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Fiat Chrysler strikes deal to produce Jeeps in China  [Reuters] 19 Apr, 2014
MILAN (Reuters) - Fiat Chrysler has reached an agreement to start producing Jeep vehicles in China with partner Guangzhou Automobile Group Co , the companies said on Saturday, as Fiat tries to catch up with competitors in a fast-g ...
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Governor Sindh condemns attack on Hamid Mir  [Business Recorder] 19 Apr, 2014
KARACHI: Sindh Governor Dr.Ishrat-ul-Ebad Khan has strongly condemned the armed attack on senior journalist and anchorperson Hamid Mir here on Saturday.Taking notice of the firing incident, the Governor called for report from IGP ...
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President condemns attack on Hamid Mir  [Business Recorder] 19 Apr, 2014
ISLAMABAD: President Mamnoon Hussain has strongly condemned the incident of firing on senior journalist Hamid Mir in Karachi on Saturday evening.The President, in a message, prayed for the early recovery of Hamid Mir, who was inju ...
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