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International

  • 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...

  • ECB open-minded on SME lending but wants others to help

    The European Central Bank has an open mind on what it could do to spur lending to small and mid-sized businesses, though other EU institutions might be better placed to help, a top ECB policymaker said yesterday. The ECB is concerned that banks,...

  • China trade data beats expectations

    China trade data beats expectations

    China’s exports and imports grew more than expected in April, offering the possibility of a better outlook for the world’s second-largest economy, but the figures failed to put an end to scepticism that financial manoeuvring by exporters and...

  • Adidas probed for competitor ban

    Adidas probed for competitor ban

    Adidas chief executive Herbert Hainer addresses the company’s annual general meeting in Fuerth, near Nuremberg, yesterday. The German cartel office is taking a closer look at the online sales practices of the world’s second largest sports apparel...

  • Britain to quiz Google and auditor again on tax

    Executives from Google Inc. and its auditor Ernst and Young will be called again to a British Parliament committee to testify on tax, after a Reuters investigation highlighted inconsistencies in the way Google portrays its activities in Britain,...

  • EU considers trade action after Bangladesh factory collapse

    EU considers trade action after Bangladesh factory collapse

    The European Union is considering trade action against Bangladesh, which has preferential access to EU markets for its garments, in order to pressure Dhaka to improve safety standards after a building collapse killed hundreds of factory...

  • Global consumer confidence improves

    Global consumer confidence improves

    Global consumer confidence rose in the first quarter, with a marked increase in sentiment in the US, Japan and northern Europe, a survey showed yesterday. Indonesia overtook India as the most optimistic consumer market globally, according to the...

  • Apple wows market with record $17 billion bond deal

    Apple Inc wowed the debt markets on Tuesday with the largest non-bank bond deal in history, pricing a whopping $17 billion as the US computer giant switches strategy to placate restless shareholders. Just a week after announcing its first drop in...

  • Master Card profit rises 12 per cent

    Master Card profit rises 12 per cent

    Master Card Inc, the world’s second-largest credit and debit card network, reported a 12 per cent rise in quarterly profit as more people used credit and debit cards instead of cash. Net income rose to $766 million, or $6.23 per share, in the...

  • Apple unlocks more cash for investors as profit slides

    Apple unlocks more cash for investors as profit slides

    Apple Inc bowed to investors’ demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade. The new expanded capital plan includes issuing debt for the first time to fund $100 billion...

  • Barclays’ investment bank outshines overall profit drop

    Barclays’ investment banking division beat expectations in the first quarter, outshining the wider group’s earnings drop and sending its shares to a six-week high. Overall profits at Britain’s third-largest bank were down a quarter from a year...

  • Ford profit surpasses estimates as North America shines

    Ford Motor Co posted a higher-than-expected first-quarter profit yesterday as its North American unit posted its best quarter in more than a decade on the strength of new models. Revenue in North America, the company’s largest market, shot up by...

  • Lloyds bank branch sale to Co-op collapses

    Lloyds bank branch sale to Co-op collapses

    The planned sale by state-backed Lloyds of hundreds of UK bank branches to the Co-op fell through yesterday, setting back government plans to boost competition in the industry. The Co-Op said it pulled out of the deal due to toughening regulations...

  • Weaker yen boosts outlook as Canon and Nintendo find solace in stimulus policies

    Super Mario creator Nintendo Co Ltd forecast a return to the black after two years of losses and camera maker Canon Inc raised its profit forecast by nearly 10 per cent as a weaker yen, spurred by aggressive deflation-fighting policies, bolstered...

  • Regulators to examine ICE, NYSE Euronext merger

    Regulators to examine ICE, NYSE Euronext merger

    EU antitrust regulators will examine Intercontinental Exchange Inc’s $8.2 billion takeover of NYSE Euronext in line with a request from the exchange operators, a spokesman for the European Commission said yesterday. The deal would give commodities...

  • Germany launches tax probes against Credit Suisse employees

    German prosecutors are investigating employees of Credit Suisse and its units Clariden Leu and Neue Aargauer Bank on suspicion of helping Germans evade taxes. The probe was launched in response to findings gleaned from Swiss bank data acquired by...

  • BofA in $500m settlement with mortgage investors

    Bank of America Corp has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities. The settlement requires the court approval, and is the largest accord to...

  • European market plunge tests carmakers’ endurance

    PSA Peugeot Citroen and Toyota led European car sales 10.3 per cent lower in March, as an unrelenting market contraction spreads to the region’s more prosperous north, unnerving automakers. Registrations dropped to 1.35 million cars last month...

  • Burberry is bolstered by China’s demand for luxury

    Burberry is bolstered by China’s demand for luxury

    British luxury group Burberry calmed fears about slowing demand in China with better-than-expected fourth quarter results as it sold more of its most expensive items. Burberry said demand from affluent Asian customers for its more expensive...

  • Athens to ask creditors for large debt cut

    Athens to ask creditors for large debt cut

    Medical staff in a protest rally against austerity in Athens yesterday. In exchange for harsh austerity measures that have thrown the Greek economy into its deepest peace-time recession and strained the cohesion of its fragile coalition, Athens...

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