Tuesday , September 29 2020
Breaking News
Home / World Business (page 307)

World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Oil futures holding up in Asian trade, Brent trades above $86 per barrel

SINGAPORE: Crude-oil futures had a positive outlook in Asian trade Monday despite the fact that traders and investors remain unsure of whether prices can hold or not. A Singapore-based oil trader said, “Buyers will step in only when they think prices have hit bottom. They do not want to catch a knife when it is falling.” On the New York ... Read More »

Challenging Amazon: Walmart to build giant ‘e-commerce’ warehouses

NEW YORK: Wal-Mart Stores Inc. has taken a u-turn on its plans to keep opening new US stores, as it has decided to build state-of-the-art warehouses to meet the growing demand of online shoppers. Wal-Mart boss Carl Douglas McMillon, who took over management of the largest US retail chain, told investors last week he will cut $850 million from his ... Read More »

Japan PM suffers huge blow as female ministers resign

TOKYO: Japanese Prime Minister Shinzo Abe suffered a huge blow on Monday as his two female Cabinet members resigned from their posts due to different scandals. Trade and industry minister Yuko Obuchi resigned over a funding scandal while the justice minister Justice Minister Midori Matsushima resigned after being accused of violating electoral laws, dealing Prime Minister Shinzo Abe his biggest ... Read More »

Record 0.1 million Mercedes-Benz S-Class cars sold in one year

BERLIN: More than 100,000 Mercedes-Benz S-Class units have been sold since it was launched in mid October last year, which is the biggest sale figure in the history of S-Class series. According to Mercedes-Benz, the S-Class was already on sale in the three core markets within under three months since market launch and went on sale at home first, being ... Read More »

Japan’s Nikkei rises 578.72 points, biggest climb since June 2013

TOKYO: Japan’s Nikkei share average increased 3.98% on Monday, registering the biggest daily rise in more than a year on back of upbeat US data. The Nikkei share average rose 578.72 points to 15,108.72 in mid-morning trade to recover most of the losses posted last week. Upbeat US consumer sentiment gave relief to investor sentiment and lifted risk appetite. The ... Read More »

Hong Kong stocks up 1%, China Hang Seng Index up 1.5%

HONG KONG: Hong Kong stocks started the week with solid gains early Monday, with the Hang Seng Index HIS increased by 1%, and the China’s Hang Seng China Enterprises Index gained by 1.5%. The advance came despite a number of event risks lurking later in the week, including talks slated for Tuesday between protesters and the Hong Kong government. China’s ... Read More »

Walmart plans capital spending of $11.3-11.8 billion for 2015

NEW YORK: Shifting emphasis to e-commerce, Wal-Mart, the world’s largest retailer, is planning capital spending of $10.6-$11.6 billion for 2016, down from its projection of $11.3-$11.8 billion for 2015. The company cut its sales forecast for its next fiscal year and projected a drop in capital spending. Wal-Mart Stores said it now expected sales would grow between 2-3% in 2015 ... Read More »

FDI into India declines to $1.27 billion in August, lowest in eight months

NEW DELHI: Indian Foreign direct investment dipped by about 10 per cent in August this year and stood at 1.27 billion dollar which is the lowest figure in the last eight months, according to the data of the Department of Industrial Policy and Promotion. In August of 2013, India had received FDI worth $1.40 billion. Last time in December 2013, FDI into India ... Read More »

History in the making: Japan unveils 1st ‘dream’ jet in 50 years

TOKYO: Japan fulfilled its dream and unveiled first commercial jet in more than 50 years with the help of Mitsubishi Aircraft company. It wants to sell its 2000 ‘dream’ jets in the region. Mitsubishi has confirmed to win 191 orders for its US$42 million regional jet, with just under 100 seats, from customers, including US regional groups Trans States Holdings ... Read More »

Can you imagine: Obama’s credit card rejected at restaurant

WASHINGTON: President of the United States Barack Obama said on Friday his credit card was declined at a New York restaurant during a visit to the United Nations. “I was there during the General Assembly, and my credit card was rejected,” Obama said and wondered if he had become a victim of identity theft. “It turned out, I guess I ... Read More »

Major recall: Toyota to fix defects in 1.67 million vehicles

Toyota has announced to recall 1.67 million vehicles worldwide to fix three separate defects including a faulty brake master cylinder that could make stopping more difficult, and potential problems with fuel delivery systems. One million vehicles will be recalled in Japan and the rest overseas. Models include Toyota Crown Majesta, Crown, Noah, Voxy, Corolla Rumion and Auris, as well as ... Read More »

France starts Ebola screenings, panic spreads in Spain

PARIS: France has started Ebola screenings at Paris airport for passengers arriving from Guinea. The epidemic’s quick spread in the world and rising number of deaths compelled Air France flight attendants to call for a halt to flights from Conakry. Fear of Ebola spread is also swelling in Belgium as it still operates flights to West Africa’s three worst affected ... Read More »

Telefonica Germany to slash 1,600 jobs by 2018

MUNICH: German telecommunication company Telefonica will curtail 1,600 jobs by 2018. The 1,600 full-time positions are to be cut to abolish duplicate functions. Telefonica Germany stated on its official website, it tends to implement a severance pay scheme for employees leaving the company and strives to avoid compulsory redundancies wherever possible. Locations in Munich and Dusseldorf will be mainly affected ... Read More »

Moody’s downgrades Russia rating on Ukraine crisis, sanctions

MOSCOW: Moody’s Investors Service downgraded Russia’s credit rating to the second-lowest investment grade due to sluggish growth prospects worsened by the crisis in Ukraine and international sanctions. Moody’s downgraded the government one level to Baa2 from Baa1 and kept a negative outlook on the country’s rating. It is in line with Fitch Ratings Ltd.’s credit grade and one notch above ... Read More »

Russian sanctions: Rolls-Royce fears revenue fall by 3.5-4%

LONDON: Rolls-Royce feared its sales would plunge this year and possibly in 2015 again due to delay in orders as sanctions over the Ukraine crisis stall Russian contracts. Shares of London-based Rolls-Royce, the world’s second-biggest maker of aircraft engines, plummeted as much as 16 percent to drop revenue by 3.5 to 4 percent in 2014, with free cash flow dwindling ... Read More »

Volkswagen recalls over 500,000 cars in China

BEIJING: The world’s car manufacturing companies have been recalling their vehicles over technical faults after selling them and this time is Volkswagen as the company is going to recall more than 500,000 cars in China due to a defect in the rear axles The German automaker, which has been in China since the 1980s, will recall a total of 581,090 ... Read More »

China gives ex-Railway official death sentence in $7.7m corruption case

BEIJING: A Chinese court gave life sentence to a former senior railway official Zhang Shuguang for taking $7.7 million in bribes. Zhang Shuguang, once deputy chief engineer at China’s Ministry of Railways, was on Friday given a death sentence suspended for two years by a court in Beijing. The court heard he used his position to help companies secure rail ... Read More »

Asian stocks rebound after global gyrations

HONG KONG: Asian stock markets rebound on Friday after decrease in U.S. unemployment applications and comments from a Federal Reserve official eased nerves about a stalling economic recovery. Hong Kong’s Hang Seng increased 0.2 percent to 22,931.60 and Australia’s S&P/ASX 200 was up 0.4 percent at 5,274. Japan’s Nikkei 225 dropped 1 percent to 14,588.16 as a rise in the ... Read More »

Oil bounces back above $87

LONDON: Brent crude value Friday increased more than a dollar to above $87 a barrel,  as investors bought back into a market they said was oversold in the short-term. Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a ... Read More »

Tokyo stocks drop 2.22 percent to near five-month low

TOKYO: Tokyo stocks Thursday dropped 2.22 percent to a near five-month low due to high value of yen following sell-offs in New York and Europe amid fears about the global economy and the Ebola epidemic. The benchmark Nikkei 225 index at the Tokyo Stock Exchange dropped 335.14 points to finish at 14,738.38, the lowest close since late May, while the ... Read More »