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International

  • Eurozone manufacturing deteriorates in October – survey

    Eurozone manufacturing climate deteriorated in October, with the sector in economic powerhouse Germany contracting for the first time for more than two years, a closely-watched survey showed yesterday. Eurozone manufacturing output, new orders and...

  • Wall Street fears US debt crisis as Europe reels

    Even as Europe’s debt crisis spirals out of control, Wall Street is casting an eye on a fast-approaching congressional deadline that could spark a debt crisis this side of the Atlantic. US investors – for weeks preoccupied with the tumult raging in...

  • Winner of Hong Kong Santa Claus Games

    The winner of the eighth Santa Claus Winter Games Hong Kong Round, Mario Wong, places a light on a Christmas tree in Hong Kong yesterday. Wong will be competing in Sweden at the annual Santa Winter Games in Sweden in mid November. Representatives...

  • Finland’s Nokia launches Windows smartphone to regain market share

    Finland’s Nokia, struggling to remain the world’s top mobile phone maker amid fierce competition, yesterday launched its first smartphone using the Windows platform which it hopes will secure profitability. Nokia launched the Lumia 800 and Lumia 710...

  • Olympus chief quits over fees row

    Japanese camera maker Olympus said yesterday that Tsuyoshi Kikukawa has resigned as chairman and president, in the wake of a scandal triggered by the sacking of the firm’s British CEO. Kikukawa’s resignation comes less than two weeks after he took...

  • China agrees to ‘invest’ in euro bailout fund

    China has agreed to invest in Europe’s bailout fund, two senior EU diplomats told AFP yesterday, hours before a crunch summit on the eurozone debt crisis. “China is in,” said one of new plans to boost the European Financial Stability Fund with a...

  • Peugeot could slash 5,000 jobs to cut costs in 2012

    French auto giant PSA Peugeot Citroen yesterday announced an €800 million cost-cutting plan for next year, including up to 5,000 lay-offs amid a stagnating European car market. “It’s quite possible there will be an impact on the workforce,” the...

  • Nestle probes Chinese farmers’ cheating claims

    Swiss food giant Nestle said yesterday it is investigating allegations that a Chinese subsidiary has been short-changing dairy farmers for at least 10 years. Dairy farmers in the northeastern province of Heilongjiang have accused Shuangcheng Nestle...

  • Rio Tinto looking to invest more in Africa

    Rio Tinto’s chief said yesterday the mining giant was looking to spend more heavily in Africa despite not yet making a profit on billions of dollars of investments there over the past five years. Chief executive Tom Albanese told a Commonwealth...

  • Wells Fargo customers close accounts in protest

    Wells Fargo bank official Nathan Collett addresses immigrant rights advocates after they entered a downtown branch in Denver, Colorado, on Tuesday. The demonstrators say Wells Fargo is a major shareholder in the private prison company GEO Group,...

  • Samsung, Google unveil new ‘Ice Cream Sandwich’ phone

    South Korea’s Samsung Electronics yesterday unveiled its new smartphone that runs on Google’s latest Android operating system, the latest weapon in its battle to topple Apple’s iPhone. The launch of the “Galaxy Nexus”, which comes days a after the...

  • Fresh downgrade hits Spain amid euro fears

    Pressure mounted on Spain yesterdayover its high debts after Moody’s joined other big credit raters in downgrading its sovereign rating, damaged by the eurozone finance crisis. Moody’s cut Spain’s rating by two notches from A1 from Aa2, with a...

  • Two-day strike by Greek unions against austerity Bill launched

    Greek unions yesterday lau-nched a two-day general strike in an all-out effort to block a new austerity Bill that Parliament must pass to forestall a state bankruptcy. Most of the country’s professional classes joined the walkout including civil...

  • Yahoo! earnings not as dismal as expected

    Struggling Internet pioneer Yahoo! beat Wall Street expectations even though its third quarter net profit dove 26 per cent from a year earlier as revenue sank. Yahoo! had net earnings of $293 million on revenue of $1.072 billion in the quarter to...

  • Pure gold rising dragon

    An employee for Tokyo’s Matsuzakaya department store, whose main store is located in the city of Nagoya, displays a pure gold rising dragon statue measuring 38 cms, weighing 1,660g and priced at 42 million yen (€0.39 million) in Tokyo yesterday. The...

  • Merkel confident eurozone fund to be ratified this month

    German Chancellor Angela Merkel predicted yesterday a eurozone bailout fund would be ratified this month despite rejection by Slovakia, and said all of Europe must help fight the crisis. But she warned that dealing with the continent’s debt crisis –...

  • Sony halts 93,000 online accounts in new breach

    Sony said yesterday it suspended 93,000 accounts on its online entertainment networks after detecting a wave of unauthorised sign in attempts months after a huge breach forced it to halt some services. The attack took place between October 7 and 10...

  • Russia’s Putin ends China trip with no gas deal

    Russian Prime Minister Vladimir Putin left China yesterday after a visit that yielded $7 billion in trade pacts but no breakthrough on a long-delayed gas deal with the world’s top energy consumer. Putin held talks with his Chinese counterpart Wen...

  • British jobless hits 17-year high

    Britain’s jobless total jumped to 2.57 million people in the three months to August, the highest amount since 1994 according to data yesterday, dealing a heavy blow to the country’s recovery hopes. Britain’s unemployment rate meanwhile shot up to...

  • Fiscal transfers no way out of crisis – ECB

    The current eurozone debt crisis cannot be resolved simply by stronger countries shoring up the weaker indefinitely, the European Central Bank’s outgoing chief economist Juergen Stark said yesterday. “Fiscal transfers, flowing from the stronger...

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