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International

  • Australia ready to join China-led bank, seeks clarity on governance

    Australia ready to join China-led bank, seeks clarity on governance

    Australia is “well and truly” disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said yesterday, but wants to know how much power Beijing would hold in the institution before a formal...

  • French business morale at three-year high

    French business morale was at its highest for nearly three years in March, adding to signs the eurozone’s number two economy is emerging from stagnation on the back of lower oil prices and a weaker euro. The composite indicator of morale rose to...

  • Kraft, Heinz deal to form North America’s No. 3 food company

    Kraft, Heinz deal to form North America’s No. 3 food company

    Kraft Foods Group Inc., the maker of Velveeta cheese and Oscar Mayer meats, will merge with ketchup maker H.J. Heinz Co., owned by 3G Capital and Berkshire Hathaway Inc., to form North America’s third-largest food and beverage company. Kraft’s...

  • Stocks slump and dollar slips on US growth worries

    Wall Street stocks tumbled and the dollar slipped yesterday after government data signaled the US economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. The main US stock indices were off more than...

  • ECB actions working, but structural reforms needed – Liikanen

    ECB actions working, but structural reforms needed – Liikanen

    European Central Bank policy actions have had a clear positive impact on the eurozone economy, but member states still need to adopt structural reforms to support the recovery, ECB Governing Council member Erkki Liikanen said. Liikanen, who is...

  • Shipping movements

    The following ships are expected in Malta: The Sena Kalkavan from Varna to Avcilar, the Jork Valiant from Sfax, the Oued Ziz from Skikda to Skikda (all Carmelo Caruana Co. Ltd), the BC Hamburg from Tunis to Algiers (Thomas Smith Shipping Ltd) and...

  • Euro dives under $1.06 for first time since 2003 as QE bites

    Euro dives under $1.06 for first time since 2003 as QE bites

    The battered euro took another plunge towards parity with the dollar yesterday, shedding over 1 per cent to trade below $1.06 for the first time in 12 years as a €1.1 trillion bond-buying programme beganto bite. The European Central Bank started...

  • China comfortable with inflation of 1-2% – central bank adviser

    China comfortable with inflation of 1-2% – central bank adviser

    Whether China further loosens monetary policy this year will depend “very much” on inflation, a central bank adviser said yesterday, adding that policymakers will be comfortable if inflation is not in a downtrend but stable between 1-2 per...

  • Credit Suisse’s new boss could axe 2,900 bank jobs

    Credit Suisse’s next chief executive, Tidjane Thiam, could cut almost 3,000 jobs from its investment bank, or 15 per cent of staff, as part of a shift of capital away from trading desks to private banking in Asia, analysts said. Thiam is expected...

  • ECB action shields eurozone states from Greek contagion – Draghi

    European Central Bank buying of government and other debt may be shielding countries in the eurozone from any knock-on effect from events in Greece, ECB president Mario Draghi said yesterday. The ECB began a policy of printing money to buy...

  • Cairn files notice against India in $1.6bn tax dispute

    Oil explorer Cairn Energy Plc has filed a dispute notice against the Indian income tax department over a $1.6 billion tax claim for the fiscal year ended March 2007, in the latest case of a tax row involving a foreign company. The dispute notice...

  • Euro sinks to 12-year lows, equities gain

    The euro dived to a 12-year low against the dollar yesterday, driving European stocks higher as shares of the region's big exporters gained, while US equity markets edged higher despite concerns about when the Federal Reserve would begin to raise...

  • Fed’s Yellen flags rate hikes on ‘meeting-by-meeting’ basis

    The Federal Reserve is preparing to consider interest rate hikes “on a meeting-by-meeting basis”, Fed chair Janet Yellen told a congressional committee, a subtle shift of emphasis that helps lay the groundwork for the Fed’s first rate hike since...

  • European Commission consults on Capital Markets Union

    The European Commission has launched a landmark project, starting with a three-month consultation period, to unlock funding for Europe’s businesses and to boost growth through the creation of a single market for capital. The Capital Markets Union...

  • Buffett sets sights on German co­­mpanies

    Buffett sets sights on German co­­mpanies

    Renowned US investor Warren Buffett is readying for an acquisition spree in Europe’s biggest economy after setting the ball rolling last week with the purchase of a niche German retailer by his Berkshire Hathaway holding company. In an interview...

  • World stock indexes rise after Fed comments

    Global stock markets rose slightly yesterday, helped by better-than-expected Chinese factory activity data, and comments from US Federal Reserve Chair Janet Yellen suggesting the US central bank is in no rush to raise interest rates. Following...

  • Cameron under pressure over HSBC

    Cameron under pressure over HSBC

    British Prime Minister David Cameron came under pressure in Parliament yesterday over a tax scandal engulfing HSBC’s Swiss arm when the opposition Labour Party accused Cameron’s party of accepting donations from “dodgy” HSBC account...

  • Sky shares fall as market weighs soccer rights gamble

    Britain’s dominant pay-TV firm Sky was counting the cost yesterday of its record bid to retain the rights for top-flight English soccer, with a falling share price reflecting the challenge of funding the deal. Despite protests to the contrary,...

  • Guide aims to help firms raise funds privately across Europe

    New ground rules to help companies raise funds privately across Europe have been introduced as the EU financial industry seeks to reduce a reliance on banks and US investors. Banks are traditionally the main source of corporate funding in Europe,...

  • British watchdog says bank competition still falls short

    Moves to improve competition within Britain’s banking industry have not yet had the desired effect, the head of the competition watchdog said, raising the prospect that the country’s biggest banks could be broken up. The Competition and Markets...

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