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International

  • Chinese banks’ bad loan ratio hits six-year high

    China’s commercial banks posted an average non-performing loan (NPL) ratio of 1.59 per cent as of the end of September, the highest since the 2009 global financial crisis, an official at the country’s banking regulator said yesterday. The...

  • No let-up on Greek reforms due to migrants – Moscovici

    Pierre Moscovici said there could be no let up on reforms Greece must comply with under the terms of its multi-billion euro bailout. Moscovici was asked if there could be any leeway for nations tackling the brunt of a migrant crisis sweeping...

  • Mobile technology and targeted marketing barge in on holidays

    Mobile technology and targeted marketing barge in on holidays

    Thumbing through guidebooks for restaurant and shopping tips while on holiday could soon be a thing of the past, thanks to mobile travel technology that knows where you are and what you like and can ping you personalised recommendations. People...

  • Rates hike on cards as shares drop

    European shares closed off their highs yesterday after Federal Reserve Chair Janet Yellen said a rate hike in December was a live possibility, while Germany’s blue-chip index underperformed after a scandal at carmaker Volkswagen widened. The...

  • VW shares sink again as scandal takes on new dimension

    VW shares sink again as scandal takes on new dimension

    Investors wiped another €3 billion off Volkswagen’s market value yesterday after it said it had understated the fuel consumption of some cars, opening a new front in a scandal that initially centred on rigging emissions tests. The carmaker said...

  • Credit Suisse boss delivers blow to costly London

    Credit Suisse is thinking of moving nearly 2,000 jobs out of London because of its high costs, the bank’s new boss said yesterday, dealing a blow to the city’s status as Europe’s dominant financial centre. Chief executive Tidjane Thiam estimated...

  • EU rules Starbucks and Fiat tax deals are illegal

    EU rules Starbucks and Fiat tax deals are illegal

    Europe’s competition chief has ordered the Netherlands to recover €20-30 million in back taxes from Starbucks yesterday and told Luxembourg to claim the same amount from Fiat Chrysler Automobiles, saying their favourable tax arrangements breached...

  • World shares little changed after oil falls

    Stock indexes worldwide were little changed yesterday, with a tumble in healthcare stocks weighing on US shares, while oil prices slumped after a build in US crude inventories added to worries about oversupply. Healthcare insurers slumped after...

  • Sony to pay up to $8 million in The Interview hacking lawsuit

    Sony to pay up to $8 million in The Interview hacking lawsuit

    Sony Pictures Entertainment Inc has agreed to pay up to $8 million to resolve a lawsuit by employees who claimed their personal data was stolen in a 2014 hacking tied to the studio’s release of a comedy set in North Korea, The Interview. Under the...

  • UK employers see risks in alternatives to EU membership

    A leading British employers group stepped up its push to keep the country in the EU yesterday, saying the alternatives would hurt trade. As campaigning intensifies before a referendum on remaining an EU member, the Confederation of British...

  • VW CEO says recall will start in January, be completed end-2016

    VW CEO says recall will start in January, be completed end-2016

    Volkswagen chief executive Matthias Mueller said in an interview with a German newspaper that the company would launch a recall for cars affected by its diesel emissions crisis in January and complete the fix by the end of next year. “If all goes...

  • Tesco shows signs of recovery

    Britain’s biggest supermarket Tesco said it was trading ahead of expectations and outperforming rivals after a move to sacrifice profitability in favour of price cuts and better services won back customers. Reporting results a week after rival...

  • Samsung Electronics tips better-than-expected profit in the third quarter

    Samsung Electronics Co. Ltd forecast a sharp jump in quarterly profit, trumping expectations and sending its shares surging as favourable currency rates and robust component sales appeared to offset weakness in smartphones. The extent of the...

  • Stock indexes gain with oil as biotech shares rebound

    World stock indexes edged higher yesterday with a rebound in biotech shares boosting US equities and as oil prices resumed an upward move in volatile trading. US stocks rose modestly, but concern about corporate earnings just ahead of the...

  • Vodafone goes back to basics after Liberty deal goes sour

    Vodafone goes back to basics after Liberty deal goes sour

    With a €107 billion merger with Liberty Global off the table, Vodafone boss Vittorio Colao needs his strategy of higher network investments and acquisitions of European cable companies to start paying off. The mobile operator abandoned talks with...

  • Thriving Mafia sucks hope from Italy’s struggling south

    Thriving Mafia sucks hope from Italy’s struggling south

    Most southern Italian businessmen do not cross the ’Ndrangheta Mafia. Gaetano Saffioti did, and paid a high price. The owner of a successful cement business near the small town of Palmi, Saffioti, in 2002 became one of only 30 people to turn...

  • Total cuts capital spending and output target

    French oil major Total has cut its capital and operating expenses again in response to low oil prices and trimmed its ambitious output growth targets but reassured the market that its dividend was safe. The cost cutting deepens previous steps...

  • Clinton proposes $250 monthly cap on prescription drug costs

    Clinton proposes $250 monthly cap on prescription drug costs

    Hillary Clinton proposed a $250 monthly cap on out-of-pocket prescription drug costs and other measures to stop what she called “price gouging” by pharmaceutical companies. At a campaign stop in Iowa, Clinton rolled out a plan to encourage the...

  • Stocks firm on commodity gains after Asia selloff

    Share prices firmed after an Asian equities selloff yesterday, with investors taking cues from rising commodity prices and looking past China’s worst manufacturing contraction since the global financial crisis. Prices of US Treasuries and other...

  • Shipping movements

    The following ships are expected in Malta: The Karina from Algiers to Algiers, the Oued Ziz from Bejaia to Tunis, the CMA CGM Orfeo from Port Klang to Valencia (all CMA CGM Malta Agency Ltd), the Romy Trader from Tunis to Tunis (Thomas Smith...

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