Business / World Business

US House passes two-year budget deal that averts default 29 Oct 2015 - 08:39 am

US Speaker of the House John Boehner. Washington: The US House of Representatives on Wednesday passed a bipartisan, two-year budget deal that boosts...

Mini recalls 86,000 cars to fix power steering problems 28 Oct 2015 - 06:02 pm

DETROIT: Under pressure from U.S. safety regulators, BMW's Mini brand is recalling more than 86,000 cars because the power steering could fail. The...

Kuala lumpur conference to mull islamic SMEs 28 Oct 2015 - 04:54 pm

Kuala Lumpur: The General Council for Islamic Banks and Financial Institutions (CIBAFI) and the International Centre for Education in Islamic Finance (INCEIF) will...

Barclays to pay new chief Staley up to 8.24 million pounds a year 28 Oct 2015 - 04:32 pm

By Steve Slater LONDON: Barclays (BARC.L) will pay incoming chief executive James "Jes" Staley up to 8.24 million pounds a year after appointing...

Ferrari third-quarter earnings jump on higher vehicle shipments 28 Oct 2015 - 04:31 pm

A Ferrari logo is pictured at an annual fall drive, organized by a Ferrari club, in Fishkill, New York October 18, 2015. REUTERS ...

VW slumps to first quarterly loss in at least 15 years 28 Oct 2015 - 12:24 pm

BERLIN: Volkswagen posted its first quarterly loss in at least 15 years, slammed by costs related to its rigging of diesel emissions tests,...

Twitter posts $131.6 net loss in Q3 28 Oct 2015 - 11:51 am

Los Angeles: Twitter posted a net loss of $131.6 million during the third quarter of this year, compared to $175 million in the...

Volkswagen apologizes for emissions scandal at auto show 28 Oct 2015 - 11:14 am

TOKYO: A top Volkswagen executive Herbert Diess apologized at the Tokyo auto show Wednesday for the automaker's emissions-cheating scandal, promising to win back...

Toshiba says to sell sensor business to Sony, overhaul chip unit 28 Oct 2015 - 10:40 am

The logo of Toshiba Corp is seen behind trees at its headquarters in Tokyo, Japan October 1, 2015. REUTERS TOKYO: Toshiba Corp said...

Apple investors focus on iPhone sales for the holiday quarter 28 Oct 2015 - 10:30 am

n iPhone 6 Plus is pictured as the Apple iPhone 6s and 6s Plus go on sale at an Apple Store in Los...

Apple record 11.1 billion dollars profits in Q4 28 Oct 2015 - 10:13 am

Los Angeles: Apple raked in 11.1 billion dollars in net profits in the fourth quarter, the company said Tuesday, thanks to the world's...

Etihad Airways CEO sees more legal action in Air Berlin code-share dispute 27 Oct 2015 - 06:36 pm

ABU DHABI: Etihad Airways, which has a major stake in Air Berlin, said it expects further legal action in its dispute with the...

New York seaside city is rebounding 3 years after Sandy 27 Oct 2015 - 05:55 pm

LONG BEACH, N.Y.: Few places were hit as hard by Superstorm Sandy as the Long Island seaside community of Long Beach. Virtually all...

Draghi's compromise with doves heralds ECB policy easing in December 27 Oct 2015 - 05:44 pm

European Central Bank (ECB) president Mario Draghi addresses a news conference after a meeting of the ECB Governing Council in St Julian's, outside...

GM recalls 1.3 million older cars for fire hazard 27 Oct 2015 - 05:41 pm

General Motors Co (GM.N) said it is recalling about 1.3 million older sedans and coupes in the United States to fix oil leakages...

Fiat Chrysler recalls nearly 94,000 Jeeps due to fire risk 27 Oct 2015 - 05:32 pm

DETROIT: Fiat Chrysler is recalling nearly 94,000 SUVs because the air conditioning lines are too close to the exhaust manifold and could catch...

A weaker dollar, what the world economy needs but may not get 27 Oct 2015 - 04:02 pm

By Jamie McGeever LONDON: The last thing the world needs right now is a stronger dollar but that's exactly what it looks like...

Slower eurozone credit growth adds to ECB speculation 27 Oct 2015 - 01:36 pm

Frankfurt: Disappointing eurozone credit growth data will put more pressure on the European Central Bank to take additional action to boost the euro...