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International

  • Barclays set to speed up cost cuts after new mis-selling hit

    Barclays set to speed up cost cuts after new mis-selling hit

    Barclays’ new executive chairman sought to stamp his mark on the bank yesterday by accelerating the sale of assets and cost cutting, after the group reported a 12 per cent rise in profit and another big charge to compensate customers. Chairman...

  • EU probes Disneyland Paris over prices for foreign tourists

    EU regulators are investigating prices charged by Disneyland Paris after complaints from foreign consumers who said they were charged far more than their French counterparts. The move by the European Commission is part of a broader crackdown on...

  • GM to invest $1bn in India

    General Motors Co. will invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said yesterday. The investment is part of GM’s plan...

  • Mortgage lending in Britain jumps in June

    British mortgage lending picked up strongly in June, adding to signs that the housing market is regaining momentum, but a sharp drop in lending to businesses was a reminder that the economic recovery has yet to find a sounder footing. The value of...

  • Stocks climb ahead of Fed statement

    Global equity markets rose yesterday, lifted by strong US and European corporate earnings, although moves were subdued before a policy statement from the US Federal Reserve, which is expected to raise interest rates, perhaps as early as...

  • VW lowers its sales goal as demand in China slows

    VW lowers its sales goal as demand in China slows

    Volkswagen lowered its sales forecast as demand weakens in China, where the group’s largest division delivers more than 40 per cent of its vehicles, outweighing gains in Europe. The German group yesterday scaled back its expectations, predicting...

  • China growth beats forecasts, further stimulus still expected

    China growth beats forecasts, further stimulus still expected

    China’s economy grew an annual seven per cent in the second quarter, steady with the previous quarter and slightly better than analysts’ forecasts, though further stimulus is still expected after the quarter ended with a stock market...

  • China IPO freeze opens door to alternative financiers

    China’s move to halt new company listings on its stock markets is offering private equity firms, hedge funds and sovereign wealth funds an opening to fill private companies’ funding needs, paving the way for more merger and acquisition...

  • Fiat Chrysler boss says no plans for another GM offer – New York Times

    Fiat Chrysler boss says no plans for another GM offer – New York Times

    The chief executive of Fiat Chrysler Automobiles (FCA), Sergio Marchionne, does not plan to make another offer to merge with General Motors after being rejected by its US rival four months ago, the New York Times quoted him as saying. Marchionne...

  • US stocks steady, euro slips before Greek vote

    US stock prices held steady yesterday as Federal Reserve chair Janet Yellen affirmed a likely interest rate increase by year-end, while the euro fell ahead of a Greek government vote on whether to accept tough terms for a vital third bailout. Oil...

  • Proposals to expand Heathrow politically divisive, to fuel tensions

    Proposals to expand Heathrow politically divisive, to fuel tensions

    Britain should build a third runway at London’s Heathrow Airport, a government-appointed commission into the country’s airport capacity said in a report set to create a political headache for Prime Minister David Cameron. Lawmakers broadly agree...

  • Insurer ACE buys Chubb for $28.3 bn to diversify portfolio

    Property and casualty insurer ACE Ltd < said it would buy smaller rival Chubb Corp for $28.3 billion to diversify its portfolio and reduce exposure to rock-bottom catastrophe insurance rates. Over the past two years, rates in the once-lucrative...

  • Iran oil exports could jump by 60% in a year

    Iran will increase its oil exports by up to 60 per cent within a year if it can agree a nuclear deal with world powers bringing an end to sanctions, a Reuters survey of analysts said yesterday. A poll of 25 oil analysts from leading banks and...

  • Wall St trims gains while Greece deal hopes fade

    US stocks shed some of their gains yesterday after eurozone finance ministers put off further bailout talks until after Sunday’s referendum in Greece. Stronger-than-expected jobs and construction data supported the market, as did a $28 billion...

  • Betfair profits jump as new punters flock in

    Online gambling company Betfair posted a better than expected rise in full-year profit yesterday, led by strong revenue growth and a big surge in new customers. The company, whose main exchange product allows gamblers to bet against each other,...

  • GSK invests $95m to demystify cell ‘operating system’

    British drugmaker GlaxoSmithKline is investing $95 million to create a new US research institute led by a top genomics professor to investigate how a cell’s operating system works. The move reflects a commitment to fundamental research by the...

  • David Cameron hails record £1 trillion FDI

    David Cameron hails record £1 trillion FDI

    The total value of foreign direct investment into Britain has topped £1 trillion for the first time, Prime Minister David Cameron’s government said yestgerday, hailing “a sharp increase” in net flows last year. The data is likely to be seized upon...

  • European shares sag as Greek stocks’ losing streak gets worse

    European stock markets lost ground yesterday as persistent concerns over Greece’s debt problems offset gains in Telecom Italia and shares in energy companies. Traders were also reluctant to add to equity positions before a US Federal Reserve...

  • Shipping movements

    The following ships are expected in Malta: The Stjerneborg from Tripoli to Tripoli, the CMA CGM Medea from Port Klang to Valencia (both Carmelo Caruana Co. Ltd), the MSC Melatilde from Port Said to Valencia (John Ripard & Son Ltd), the MV...

  • ECB raises inflation forecast but sees signs of growth losing momentum

    ECB raises inflation forecast but sees signs of growth losing momentum

    The European Central Bank raised its forecast for inflation this year but said yesterday there were some signs of economic recovery losing momentum across the eurozone. Data this week showed euro inflation turned positive in May and the...

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