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International

  • Apple risks big if e-books antitrust case goes to trial

    As the only remaining defendant in the US government’s e-books antitrust case, Apple Inc appears headed for a high-stakes trial that could significantly increase the personal computer company’s liability in related litigation. Apple faces a June 3...

  • Worldwide mobile phone sales fell in 2012

    Sales of mobile phones around the world fell last year for the first time since 2009 as consumers shunned cheaper feature phones, research company Gartner said yesterday. “Tough economic conditions, shifting consumer preferences, and intense...

  • Flybe, Ryanair seal deal on new Irish airline

    Flybe, Ryanair seal deal on new Irish airline

    British airline Flybe has agreed to create a new carrier as part of a deal with Ryanair to satisfy regulatory concerns over the Irish carrier’s last-ditch bid to take over peer Aer Lingus. The new carrier, Flybe Ireland, would receive €100 million...

  • GSK promises growth this year after 2012 shortfall

    GSK promises growth this year after 2012 shortfall

    GlaxoSmithKline, Britain’s biggest drugmaker, renewed its promise to return to growth this year, after failing to deliver a hoped-for sales and margin recovery in 2012. GSK also announced a restructuring of European operations, drug manufacturing...

  • HSBC’s global spread ‘left it open to crime’

    HSBC’s global spread ‘left it open to crime’

    HSBC’s was forced into its biggest restructuring in almost 150 years because the bank’s complex structure and wide geographical spread had made it attractive to criminals, its chief executive said. “Our structure was not fit for purpose for a...

  • Fed says internal site breached by hackers

    The Federal Reserve said one of its internal websites had been briefly breached by hackers, though no critical functions of the US Central Bank were affected by the intrusion. The admission, which raises questions about cyber security at the Fed,...

  • UBS owes Brazil tax agency $1.2 billion for Banco Pactual

    UBS AG says it owes Brazil at least $1.2 billion (€0.9 billion) in back taxes dating back to when the Swiss lender owned an investment bank in the country. UBS said in its annual financial report on Tuesday that BTG Pactual Group, which was formed...

  • Virgin under Liberty will avoid BSkyB UK rights battle

    Virgin under Liberty will avoid BSkyB UK rights battle

    Virgin Media will steer clear of a fresh battle with Rupert Murdoch’s BSkyB over expensive content like England’s Premier League football under the ownership of Liberty Global, the US company said. Billionaire John Malone’s Liberty Global agreed...

  • H&M suffers unexpected hit in earnings

    H&M suffers unexpected hit in earnings

    Hennes and Mauritz, the world’s No.2 fashion retailer, posted an unexpected drop in quarterly earnings, hit by competition in tough European markets and the cost of its expansion drive to take on bigger rival Inditex. The Swedish group does the...

  • Judge okays BP plea, $4 billion penalty in Gulf oil spill

    Judge okays BP plea, $4 billion penalty in Gulf oil spill

    A US judge accepted an agreement by BP plc to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in US history. The company said it pleaded guilty to 11...

  • ECB’S Nowotny sees recovery coming to real economy

    A recovery in financial markets is feeding into the real economy to some extent although growth rates were still low, European Central Bank policymaker Ewald Nowotny said yesterday. He said the Austrian Central Bank, which he heads, might have to...

  • Analysts raise Amazon price targets as margins surprise

    Analysts raise Amazon price targets as margins surprise

    Amazon.com Inc’s better-than-expected profit margins surprised Wall Street, prompting at least five brokerages to raise their price targets on the world’s largest internet retailer’s stock yesterday. “We can’t help but stop and wonder whether the...

  • Microsoft launches new Office for consumers

    Microsoft launches new Office for consumers

    Microsoft Corp launched new Office software for home users, featuring constantly updated, online access to documents from all kinds of devices as the world’s largest software company attempts to tailor its most profitable product to a mobile...

  • Davos bosses hunt $5 trln new revenue in low-growth world

    Davos bosses hunt $5 trln new revenue in low-growth world

    Business leaders in Davos have plenty to worry about, from the eurozone to global geopolitical upheavals, but at heart their problem is simple: how to find new revenue in a low-growth world. Half a decade on from the financial crisis, investors...

  • Google’s fourth-quarter results shine after ad rate decline slows

    Revenue from Google Inc.’s core internet business outpaced many analysts’ expectations during the crucial holiday quarter and advertising rates fell less than in previous periods, pushing its shares up roughly five percent. The world’s largest...

  • Siemens warns of weak global demand

    Siemens warns of weak global demand

    Germany’s Siemens warned that demand for products such as industrial automation and drive technologies was weakening as it posted a decline in new orders for its fiscal first quarter. “For the rest of the year, we don’t expect any tailwinds from...

  • Unilever shares hit new high as growth beats estimates

    Anglo-Dutch consumer goods company Unilever PLC/NV beat growth expectations in 2012, propelled by an increasing presence in emerging markets and leading its shares to a record high price. The maker of Ben & Jerry’s ice cream and Omo detergent...

  • Dish to close 300 Blockbuster stores, shed 3,000 jobs

    Dish Network Corp. plans to close 300 Blockbuster stores in the US in the coming weeks and could lay off as many as 3,000 employees, a move that comes days after the DVD rental firm’s UK unit went into administration. Dish is trying to shed...

  • Facebook rolls out friends-based search product

    Facebook rolls out friends-based search product

    Facebook Inc took the wraps off a new search tool yesterday that lets people trawl their network of friends to find everything from restaurants to movie recommendations, an improvement that’s likely to increase competition with review websites...

  • Silvio Berlusconi comeback threatens Italian market rally

    Silvio Berlusconi comeback threatens Italian market rally

    A sharp rally in Italian government bonds and shares could be in jeopardy as scandal-plagued former premier Silvio Berlusconi gains ground in polls, putting investors’ bets on a centre-left election victory at risk. A reform-friendly coalition of...

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