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International

  • Piracy surge endangering commodities shipping

    Piracy surge endangering commodities shipping

    Pirate attacks off West Africa’s mineral-rich Gulf of Guinea have almost doubled from last year and threaten to increase the costs and jeopardise the shipping of commodities from the region. The Gulf of Guinea, which includes Nigeria, Ghana and...

  • European car sales hit 20-year low

    European car sales last month plunged to the lowest level in two decades for May, further eroding manufacturers’ hopes for a recovery this year. Germany, France and Italy, accounting for about half of the embattled region’s sales, suffered...

  • Saudi prince planning mile-high tower

    Saudi billionaire Prince Alwaleed bin Talal says he is looking at the world’s largest cities, including Shanghai, Moscow, London and New York, as possible locations to build a mile-high skyscraper that would be the world’s tallest building by...

  • EasyJet expand fleet with Airbus

    EasyJet expand fleet with Airbus

    British budget airline EasyJet plc said it would expand its fleet with more Airbus jets, with an order for 35 current generation A320 aircraft and 100 new generation A320neo. The A320 aircraft would be delivered between 2015 and 2017 under an...

  • Premier League clubs’ revenues increase 4%

    Premier League clubs’ revenues increase 4%

    Premier League clubs’ revenue reached a record £2,360 billion in 2011/12, according to the 22nd Annual Review of Football Finance from the Sports Business Group at Deloitte. In total, the revenue of the top 92 clubs in English football exceeded...

  • EU unveils action plan for Europe’s ailing steel sector

    The European Commission announced an array of recommendations on Tuesday to revive Europe’s steel industry, hurt by tumbling demand and plant closures. The “EU steel action plan” is the first comprehensive attempt by the Commission to stem a...

  • Foreign investment into Europe holds up in 2012

    Foreign direct investment (FDI) into Europe held up in 2012 despite the ongoing economic problems in the eurozone, according to Ernst & Young’s annual European Attractiveness Survey. This report, now in its 11th year, combines an analysis of...

  • China hits back at EU wine over solar panel duties

    China hits back at EU wine over solar panel duties

    China hit back at European wine exports yesterday in response to the EU’s decision to impose duties on imports of Chinese solar panels, as tensions increased between two of the world’s biggest trading blocs. In a step targeting Southern European...

  • Tesco recovery in doubt as UK sales resume slide

    Tesco recovery in doubt as UK sales resume slide

    Tesco, the world’s no.3 retailer, posted a drop in quarterly underlying sales in its main British market, resuming a trend seen for most of the past three years and raising doubts about its £1 billion turnaround plan. The supermarket group...

  • Apple infringes Samsung patent on older iPhones, iPads

    Samsung Electronics scored a victory over rival Apple Inc. in their long-running dispute over mobile device patents after a US trade agency issued an order banning older but still-popular Apple products from the US market. The US International...

  • US Vice President Biden in Brazil to boost business

    US Vice President Joe Biden began a three-day visit to Latin America’s biggest country yesterday to meet Brazilian Government and business leaders as Washington gears up for a state visit by President Dilma Rousseff later this year. The trip, part...

  • Switzerland frees banks to settle US tax evasion cases

    Switzerland frees banks to settle US tax evasion cases

    The Swiss government agreed yesterday to create a legal basis that will allow its banks to settle investigations by US authorities into their role in helping wealthy Americans evade billions of dollars in tax. The agreement would give dozens of...

  • Eurozone private loans contract, pressuring ECB to take action

    Loans to the eurozone’s private sector contracted for the 12th month in a row in April, raising pressure on the European Central Bank to take fresh policy action to help lift the bloc out of recession. Loans fell 0.9 per cent from the same month a...

  • Sony to discuss spin-off suggestion

    Sony to discuss spin-off suggestion

    Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favours long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling...

  • IMF urges Britain to do more to boost growth

    The International Monetary Fund called on Britain’s Government yesterday to do more to speed up slow economic recovery, hinting that the country might be able to afford to borrow more to fund investment. The report is unlikely to spur Chancellor...

  • Ireland feels the heat from Apple tax row

    Ireland feels the heat from Apple tax row

    Ireland yesterday called for an international clampdown on multinationals shifting profits around the world to avoid tax, after criticism that Irish loopholes helped technology giant Apple to shrink its tax bill. A US Senate investigation into the...

  • Boeing resumes deliveries of 787 Dreamliners

    Boeing Co. resumed deliveries of its high-tech 787 Dreamliner jet, ending a period of nearly four months in which it was unable to provide new planes to customers because of safety concerns about the battery system. The delivery of the first jet...

  • HSBC to lay off 14,000 employees

    HSBC to lay off 14,000 employees

    HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs globally, as Europe’s largest bank seeks to drive earnings and dividend growth in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in...

  • Bank of England offers ray of hope for UK economy

    Britain’s central bank lifted a bit of the gloom hanging over the economy yesterday, delivering a slightly improved outlook for inflation and growth for the first time since the financial crisis erupted. Bank of England Governor Mervyn King,...

  • European telecom revenues drop as price wars heat up

    European telecom revenues drop as price wars heat up

    Two of Europe’s biggest telecom operators reported lower revenues yesterday, blaming the weak European economy and stiff regulation while seeing some bright spots in markets abroad. The figures from Spain’s Telefonica SA and Deutsche Telekom AG...

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