Business / World Business

IMF forecasts 6% global growth this year as economies reopen 27 Jul 2021 - 05:42 pm

WASHINGTON: The International Monetary Fund is sharply upgrading its economic outlook this year for the world’s wealthy countries, especially the United States, as...

LVMH’s Louis Vuitton beats forecast as luxury demand strengthens 26 Jul 2021 - 07:20 pm

Sales of Louis Vuitton products soared more than expected as lockdowns easing across the world enabled stores to reopen and spurred demand for...

Unilever sales top estimates, but inflation casts shadow 22 Jul 2021 - 11:23 am

Unilever Plc on Thursday topped expectations with second-quarter sales growth, helped by higher prices and strong sales of ice-cream and teas, but warned...

Tesla will 'most likely' restart accepting bitcoin as payments, says Musk 21 Jul 2021 - 11:37 pm

Electric-car maker Tesla Inc will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy...

Working from home is a risk for UK public finances, watchdog group says 21 Jul 2021 - 08:24 pm

Britain’s public finances could take a hit from the a permanent shift toward working from home, the government’s independent budget watchdog said. "Our...

Bitcoin slides below $30,000 level for the first time in a month 20 Jul 2021 - 02:35 pm

A selloff in Bitcoin accelerated Tuesday, pushing it below $30,000 for the first time in about a month. The largest digital coin fell...

G20 signs off on tax crackdown, warns on virus variants 10 Jul 2021 - 06:55 pm

VENICE, Italy: Finance chiefs of the G20 large economies endorsed a landmark move to stop multinationals shifting profits to low-tax havens at talks...

Business trips are coming back faster than expected in the US 10 Jul 2021 - 05:22 pm

In-person conferences are back sooner than anticipated in the U.S., a sliver of good news for industries like airlines and hotels that are...

Morgan Stanley faces data breach, corporate client info stolen in vendor hack 08 Jul 2021 - 09:55 pm

Morgan Stanley has disclosed that personal data of some of its corporate clients was stolen in January in a data breach that involved...

Amazon begins new chapter as Bezos hands over CEO role 05 Jul 2021 - 10:06 pm

NEW YORK - Amazon founder Jeff Bezos stepped down as CEO on Monday, handing over the reins as the company navigates the challenges...

Fortress to buy Morrison for $8.7 billion, may start bidding war 03 Jul 2021 - 04:40 pm

An investor consortium led by Fortress Investment Group agreed to buy Wm Morrison Supermarkets Plc for about 6.3 billion pounds ($8.7 billion), potentially...

Ghosn accomplice says he "Deeply Regrets” helping him escape 29 Jun 2021 - 10:33 am

Helping Carlos Ghosn escape trial in Japan was a mistake, one that he deeply regrets, said one of the Americans who helped the...

EU hands out first payments from COVID-19 war chest 28 Jun 2021 - 07:44 pm

BRUSSELS - The European Union on Monday handed out the first cash from its huge COVID-19 recovery fund, in the form of grants...

Honda changing course, will build its own electric vehicles 28 Jun 2021 - 03:45 pm

DETROIT: Although General Motors will build Honda's first two fully electric vehicles for North America, the Japanese automaker plans to change course and...

Jet Airways closer to return to skies as rescue plan approved 22 Jun 2021 - 11:56 am

An Indian bankruptcy court ruled Jet Airways India Ltd. can resume operations under a new owner more than two years after it collapsed,...

Norwegian Air fires CEO in 'surprise' move after restructuring 21 Jun 2021 - 02:32 pm

Oslo: Norwegian Air has sacked Chief Executive Jacob Schram who led the budget carrier through restructuring and said it was promoting Chief Financial...

Qatar's Industrial Production Index up 1.7 percent in April 19 Jun 2021 - 03:59 pm

Doha: Qatar's Industrial Production index (IPI) in April 2021 amounted to 99.8 points, decreased by 0.9 percent compared to the previous month (March...