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  • China fears hand Wall St its worst day since 2011 - meltdown fears

    China fears hand Wall St its worst day since 2011 - meltdown fears

    Fears of a China-led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years yesterday and left the Dow industrials more than 10 percent below a May record. Wall Street's selloff this week suggested investors...

  • Revised key standards for insurance accountants

    Revised key standards for insurance accountants

    The long overdue restructuring of accounting for insurance contracts is now on our doorstep. There are many proposals, and the International Accounting Standards Board’s publications deliver continued clarifications. Just-in-time, the board puts...

  • Ride-hailing service Uber expected to reach $10.8bn in bookings in 2015

    Uber Technologies Inc’s global bookings are projected to rise nearly threefold to $10.84 billion this year and reach $26.12 billion the next, according to a recent presentation for potential investors seen by Reuters. The ride-hailing service,...

  • Record highs for three companies

    The Malta Stock Exchange index ended the week 0.26 per cent lower at 4,198.740 points as it failed to sustain its strong start to the week. Activity was spread over 16 equities of which half gained in value, six lost ground while two closed...

  • Wall Street, all S&P sectors slump down

    US stocks slumped more than 1.5 per cent yesterday, with the S&P briefly falling below 2,000 and the Dow about 200 points shy of moving into correction territory, as fears of a China-led global slowdown were heightened after grim data...

  • Toyota to buy 13 million air-bag inflators from Takata rival – sources

    Toyota to buy 13 million air-bag inflators from Takata rival – sources

    Toyota Motor Corp., in a bid to reduce its risk from potentially lethal air-bag inflators supplied by Takata Corp., will buy millions of them from smaller parts maker Nippon Kayaku Co., people familiar with the matter said. The Japanese carmaker...

  • Tourism boom in France

    Tourism boom in France

    Tourists queue as they wait to visit the Notre Dame Cathedral on a warm summer’s day in Paris, France, yesterday. France is on course to welcome a record number of tourists this year, helping boost sector revenue by about four per cent, the French...

  • State ownership can bring many benefits – PwC

    State ownership can bring many benefits – PwC

    State-owned enterprises (SOEs) have a key role to play in creating public value. And while government ownership can bring advantages, it can also destroy value if best practices in ownership and management are not applied. These are some of the...

  • Large cap equities drift lower

    Large cap equities drift lower

    The MSE Share Index closed in negative territory for the third time this week and eased a further 0.1% lower to 4,198.740 points following declines registered across most of the large cap equities. Most notably, the share price of Bank of Valletta...

  • A readjustment in China

    We are not used to seeing the Chinese economy in a crisis. However, in the last days and weeks, there are many who thought it is. I state at the outset that I do not believe that this is the case. The Chinese economy is still very strong and is...

  • Indian government steps up rate cut pressure on RBI

    Indian government steps up rate cut pressure on RBI

    Indian Finance Minister Arun Jaitley is stepping up pressure on the central bank to cut rates as the economy struggles and price rises slow, with some bureaucrats working behind the scenes to argue for an immediate cut of as much as 50 basis...

  • GVC ready to increase offer for Bwin to about £1.1bn

    GVC ready to increase offer for Bwin to about £1.1bn

    British online gambling company GVC Holdings Plc is ready to increase its offer for rival Bwin.party Digital Entertainment Plc to at least 130 pence per share or about £1.1 billion, the newspaper Times reported. Earlier this month, GVC had made a...

  • UK’s Co-operative Bank losses nearly treble in first half of 2015

    UK’s Co-operative Bank losses nearly treble in first half of 2015

    Britain’s Co-operative Bank has reported a nearly trebled first-half loss, reflecting reduced income, losses on the sale of assets and the rising cost of turning the business around. The bank is battling to recover from its near-collapse in 2013,...

  • European shares drop on global slowdown fears

    European stock markets extended their losing streak yesterday, with benchmark indexes in Frankfurt and London hitting seven-month lows as fears of a global economic slowdown took hold. The Athens stock market also fell 3.5 per cent as the country...

  • Company briefs

    Company briefs

    The Hyundai i10 ‘Black Line’, a special edition i10 model, is now available in Malta. The new Hyundai i10 model is eligible for government’s relaunched scrappage scheme and customers who choose to scrap a car which is 10 years old or over will be...

  • Halmann Vella maintains its profit forecast despite underperformance

    Halmann Vella maintains its profit forecast despite underperformance

    Halmann Vella Group plc was one of the companies that published its updated financial analysis (FAS) summary later than the deadline stipulated in the Listing Policies of the Malta Financial Services Authority dated March 5, 2013. After the...

  • Chinese stocks go on wild ride as economic gloom deepens

    Chinese stocks go on wild ride as economic gloom deepens

    Chinese stock markets took a wild ride yesterday, tumbling and soaring in a session that made little sense other than to highlight that investors have almost no faith in a month-long government effort to stabilise them. The Shanghai and Shenzhen...

  • Sterling index near 7½-year high

    Sterling was buoyant near seven-and-a-half-year highs against a trade-weighted basket of currencies yesterday, drawing support from expectations that the Bank of England will start raising interest rates early next year. Higher-than-expected core...

  • Rise of new banks helps keep Russia’s economy afloat

    Rise of new banks helps keep Russia’s economy afloat

    Four private banks with friendly ties with the Kremlin are emerging as big winners from Russia’s economic crisis, helping out dollar-starved companies at a time when large state lenders are hampered by Western sanctions. The four, FC Otkritie,...

  • China, oil weigh on share prices

    Fears about China’s economy and falling oil prices kept world equity indexes under pressure yesterday, with US crude falling to a March 2009 low after data showed an unexpected rise in stockpiles. Energy shares were the biggest drag on Wall...