Business / World Business

Starbucks, Fiat ordered to pay huge EU back taxes 21 Oct 2015 - 02:32 pm

European commissioner for competition Margrethe Vestager holds a press conference on the EU decision to set out a template for recovering unpaid taxes...

Tougher times ahead for Islamic finance as core markets slow 20 Oct 2015 - 06:31 pm

A customer walks towards a branch of the DBS bank in Singapore By Bernardo Vizcaino A decision by DBS Bank to wind down...

Insight: Wal-Mart puts the squeeze on suppliers to share its pain as earnings sag 19 Oct 2015 - 04:36 pm

By Nathan Layne Suppliers of everything from groceries to sports equipment are already being squeezed for price cuts and cost sharing by Wal-Mart...

Volkswagen considers cutting temporary worker numbers -works council 17 Oct 2015 - 06:53 pm

Workers clean a Volkswagen logo at a dealership near the Andalusian capital of Seville, southern Spain, on October 16. BERLIN: Volkswagen is considering...

Jury hits Apple with $234m tab in chip patent case 17 Oct 2015 - 10:26 am

SAN FRANCISCO: A US jury on Friday declared that Apple owes $234 million in damages for infringing on mobile chip technology patented by...

Gold hits 3-1/2 month high on talk of delay to Fed rate hike 14 Oct 2015 - 02:46 pm

By Jan Harvey LONDON: Gold steadied near 3-1/2 month highs on Wednesday as concerns over deflationary pressures in China fuelled expectations the Federal...

South Korean Engineering & Construction wins 525 bn-won order from Kuwait 14 Oct 2015 - 11:02 am

SEOUL: South Korean construction firm SK Engineering & Construction Co. said Wednesday it has won a 525 billion-won ($456 million) order to build...

Twitter to cut 8% of workforce, refocus under Dorsey 13 Oct 2015 - 06:20 pm

SAN FRANCISCO: Twitter said Tuesday it was slashing eight percent of its workforce as newly returned chief executive Jack Dorsey seeks to carve...

Five arrested over Air France violence: Police 12 Oct 2015 - 01:49 pm

Air France executive Pierre Plissonnier (centre) runs away from the demonstrators, after several hundred employees stormed the airline's offices in Roissy-en-France, on October...

Glencore puts Australian, Chile mines up for sale 12 Oct 2015 - 01:45 pm

ZURICH: Mining giant Glencore, under pressure from a crash in commodity prices and weighed down by debt, announced Monday it had begun talks...

World finance leaders upbeat on China, may be ignoring risks 10 Oct 2015 - 12:00 am

Christine Lagarde and George Osborne. File photo. By David Chance LIMA: Global finance leaders believe China will weather its slowing growth and manage...

European shares rise as car makers rally 09 Oct 2015 - 12:00 am

By Danilo Masoni MILAN: European shares closed higher on Thursday as auto stocks gained, but investors remained wary about the global economic outlook...

Volkswagen's US boss blames "individuals" for cheating 09 Oct 2015 - 12:00 am

By Andreas Cremer and David Morgan BERLIN/WASHINGTON: Volkswagen's rigging of diesel emissions tests was not a company decision but the result of actions...

Russia's Gazprom delays pipeline project amid Turkey tensions 07 Oct 2015 - 06:20 pm

MOSCOW: Russian gas giant Gazprom said Wednesday its TurkStream pipeline project with Turkey would be delayed as tensions between Moscow and Ankara peak...

Head of UK fund industry trade body quits abruptly 07 Oct 2015 - 02:20 pm

By Simon Jessop and Carolyn Cohn LONDON: The head of Britain's fund industry trade body quit his job on Wednesday following reports that...

VW recall to start in January, be completed end-2016: CEO 07 Oct 2015 - 12:23 pm

New Volkswagen CEO Matthias Mueller BERLIN: Volkswagen Chief Executive Matthias Mueller said in an interview with a German newspaper that the company would...