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International

  • What’s in a name? Islamic banking rebrands

    What’s in a name? Islamic banking rebrands

    Islamic banking is based on core principles of the religion. So it is striking that some banks are removing the word “Islam” from their names – a sign of both the potential of Islamic finance to grow, and the obstacles to it becoming...

  • Argentine debt investors may let law slide to reach deal

    Argentine debt investors may let law slide to reach deal

    Argentina’s prospects for finally closing out its 12-year-old default on $100 billion of debt will depend on more political and legal maneuvering, a motivated US judge and the fatigue of investors, now that it has lost an epic battle with holdout...

  • ‘We will not default again’

    ‘We will not default again’

    Addressing the nation on Monday night, Argentina’s President Cristina Fernandez de Kirchner said her country would honour its payments to holders of its restructured debt. In a nationwide televised broadcast, the President said Argentina wants to...

  • ECB action not likely to revive lending

    ECB action not likely to revive lending

    The European Central Bank’s latest offers for long-term cash won’t revive lending in the region despite expectations for strong demand, a Reuters poll showed. ECB president Mario Draghi announced several new policies this month, including cutting...

  • Cameron may fail to stop Juncker getting EU job – former PM Major

    Cameron may fail to stop Juncker getting EU job – former PM Major

    British Prime Minister David Cameron may fail to stop Jean-Claude Juncker from becoming European Commission President, but Britain will be able to renegotiate a new settlement with the European Union, former Prime Minister John Major has...

  • UK retailer Mothercare could cut up to 500 jobs – Times of London

    British baby goods retailer Mothercare plc could cut as many as 500 customer service adviser roles as part of its restructuring plans, according to the Times of London. Mothercare plans to reduce the hours of staff who work 24 hours or more every...

  • Prices drop despite undersupplied system and Ukraine crisis over gas

    British wholesale natural gas prices dropped yesterday as Russian gas to Western Europe continued to flow through Ukraine despite an export halt by Moscow since Monday and a pipeline explosion on Tuesday. Gas prices for delivery the next day were...

  • Down on its luck: time to bet on France?

    Down on its luck: time to bet on France?

    A flatlining economy. The weakest profit margins in Europe. Stubbornly high labour costs despite the record unemployment that helped bring the hard-right National Front out on top in last week’s EU election. Why would anyone invest in French...

  • Pressure mounts at Tesco as British sales slide worsens

    Pressure mounts at Tesco as British sales slide worsens

    Tesco, Britain’s biggest retailer, posted the worst quarterly drop in underlying sales in its key home market since chief executive Phil Clarke took the helm in 2011, raising further questions over his trading strategy. Clarke is two years into a...

  • Bank of England reshuffle may help Carney on rates at first

    Bank of England reshuffle may help Carney on rates at first

    A shake-up of Britain’s top monetary policymakers, which started this week, caps a year of change at the Bank of England under Governor Mark Carney and might help him withstand growing pressure to raise interest rates. Adding to a host of new...

  • US sets new import duties on Chinese solar products

    US sets new import duties on Chinese solar products

    The US slapped new import duties on solar panels and other related products from China after the Commerce department ruled they were produced using Chinese government subsidies, potentially inflaming trade tensions between the two countries. The...

  • Netflix to launch in six European countries this year

    Netflix to launch in six European countries this year

    Netflix Inc will launch its online movie and TV subscription service later this year in France, Germany and four other European countries, in a major push into new markets. The other new countries Netflix will enter in late 2014 are Austria,...

  • BOJ offers brighter view on capex

    BOJ offers brighter view on capex

    The Bank of Japan kept monetary policy steady and raised its assessment on capital expenditure yesterday, reassured by growing evidence the economy can withstand the pain from a sales tax hike without additional monetary stimulus. Governor...

  • UK economy picking up speed

    Britain’s economic recovery is gaining momentum but Bank of England policy-makers held different views about the amount of slack in the economy and the medium-term inflation outlook, minutes from their April 9 meeting showed. The bank reckons the...

  • ECB plan could boost shares in Europe’s weakest companies

    ECB plan could boost shares in Europe’s weakest companies

    Shares in some of Europe’s least profitable and most indebted companies are set to outperform in the coming months if the European Central Bank starts buying corporate bonds to fight the threat of deflation. The ECB has opened the door to the...

  • Japan, United States face off in crucial trade negotiations

    Japan, United States face off in crucial trade negotiations

    Japan and the United States yesterday began a round of crucial talks aimed at concluding a trade pact seen as critical to the success of regional negotiations, although officials warned that bridging differences would be difficult. Tokyo and...

  • European policymakers seek to reshape bundled debt market

    European policymakers are drawing up plans to revive the market for repackaged debt in a bid to lure investors back to a sector that was at the heart of the worst financial crisis in a generation. Securitisation is seen as key to helping banks...

  • GlaxoSmithKline throws in the towel

    GlaxoSmithKline has stopped a high-profile clinical trial using a novel vaccine to fight lung cancer after deciding it could not find a sub-group of patients who might benefit. The decision comes less than two weeks after GSK said the MAGE-A3...

  • Domino’s Pizza sales rise as hungry Brits snap up promotions

    Domino’s Pizza sales rise as hungry Brits snap up promotions

    Domino’s Pizza, Britain’s biggest pizza delivery firm, said it was close to naming its new boss as it posted a 10.8 per cent rise in first-quarter UK underlying sales. The company said yesterday that sales at UK stores open over a year rose 10.8...

  • UK heads for Lloyds exit by 2015 after £4.2bn share sale

    UK heads for Lloyds exit by 2015 after £4.2bn share sale

    The UK government has sold £4.2 billion worth of shares in Lloyds Banking Group to cut its stake in the country’s largest retail bank to under 25 per cent and putting it on course for a complete exit in the next year. Finance Minster George...

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