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International

  • 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...

  • Blatter resignation a relief for World Cup sponsors

    FIFA president Sepp Blatter’s decision to resign amid corruption allegations at soccer’s governing body is a relief for corporate sponsors who have called for more transparency at the organisation, sports marketing experts said. Blatter, 79,...

  • US stocks climb on data, Greek hopes

    Wall Street moved higher on optimism an agreement was on the horizon surrounding Greek debt and data pointed to renewed vigour in the US economy, while German debt yields climbed after comments from European Central Bank President Mario...

  • OECD cuts global growth forecast, but ensures a gradual recovery

    OECD cuts global growth forecast, but ensures a gradual recovery

    The OECD has cut its global economic growth forecast for this year but says it expects lower oil prices to ensure a gradual recovery, even if weak investment remains a worry. Growth is also being buoyed by ultra-supportive central bank policy in...

  • Greece cannot make June 5 IMF payment ‘without deal with international leaders’

    Greece will not be able to make a payment to the International Monetary Fund that falls due on June 5 without a deal with its international lenders, the government’s parliamentary speaker said yesterday. Athens faces several payments, totalling...

  • Investment banks’ revenue rises 9% in first quarter

    Revenue at the world’s 10 largest investment banks rose nine per cent to $44.9 billion in the first quarter compared to a year ago, as financial market volatility and central bank stimulus measures boosted profits, a survey showed...

  • UBS to pay $545m over forex scandal as rivals await fate

    UBS will pay $545 million to US authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals. The amount was lower than expected and this...

  • US stocks tread water as Fed minutes loom

    US stocks were little changed, staying near their record highs, in quiet afternoon trading yesterday as investors await the minutes from last month’s Federal Reserve meeting for hints on when interest rates will be increased. Stock market volumes...

  • German retailer Metro in talks over sale of store chain

    German retailer Metro in talks over sale of store chain

    German retailer Metro yesterday confirmed that it was in talks over the sale of department store chain Kaufhof, adding it could do a deal if the price and strategy were right. A Metro spokesman said the group had not reached any decisions yet and...

  • Brighter outlook for M&S after profit rise

    British retailer Marks & Spencer raised hopes that it has finally rediscovered a winning formula as it reported a rise in annual profit for the first time in four years and its intention to return excess cash to shareholders. After a poor...

  • Altice and Time Warner Cable talks ongoing – source

    Altice’s acquisition of US cable group Suddenlink has not dampened its interest in buying much larger Time Warner Cable, a source familiar with the matter said. “Altice is very keen on Time Warner Cable,” the person said after Altice’s...

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