Business

Fiat unveils Jeep Renegade 26 Jul 2014 - 12:58 am

Italian Prime Minister Matteo Renzi (centre) gestures during a meeting with Fiat Chairman John Elkann (left) and Fiat CEO Sergio Marchionne (second right)...

Amazon loss widens despite climbing sales 26 Jul 2014 - 12:57 am

Amazon CEO Jeff Bezos at a news conference in Seattle. SAN FRANCISCO: Internet retail titan Amazon reported a money-losing quarter despite impressive growth...

US durable goods orders rebound 26 Jul 2014 - 12:56 am

WASHINGTON: Orders for long-lasting US manufactured goods rose more than expected in June, pointing to momentum in the economy heading into the third...

Obama rails against US Inc over tax evasion 26 Jul 2014 - 12:55 am

LOS ANGELES: US President Barack Obama hammered US companies that avoid federal taxes by shifting their tax domiciles overseas in deals known as...

Ireland defends tax-avoidance deals 26 Jul 2014 - 12:55 am

DUBLIN: Ireland defended its tax regime yesterday against criticism from US President Barack Obama, insisting that it does not seek to entice US...

Kia Motors net profit down 13.3pc 26 Jul 2014 - 12:54 am

SEOUL: South Korea’s Kia Motors said yesterday its second-quarter profit fell 13.3 percent year on year, as a pick-up in sales was offset...

Argentina, hedge funds fail to strike debt deal 26 Jul 2014 - 12:54 am

NEW YORK: Argentina failed to reach a deal with hedge funds demanding full payment on its defaulted bonds, veering closer to what the...

Brazil eases reserve rules in $13bn stimulus 26 Jul 2014 - 12:53 am

BRASILIA: Brazil’s central bank said it would ease banks’ reserve requirements, freeing up $13bn to stimulate lending and boost an economy facing its...

India holds firm on blocking WTO customs deal 26 Jul 2014 - 12:22 am

NEW DELHI: India yesterday said it wanted “visible” signs the World Trade Organisation (WTO) would agree to its vast food subsidy schemes before...

EU eyes economic sanctions on Russia, with trade deals intact 26 Jul 2014 - 12:21 am

People near a Rosneft gasoline station in Stavropol, southern Russia. Rosneft, Russia’s No. 1 oil producer, said yesterday its second-quarter net income rose...

Russia raises main interest rate 26 Jul 2014 - 12:20 am

MOSCOW: Russia’s central bank moved yesterday to shield the country’s economy from tightening Western economic sanctions over Ukraine, raising its main interest rate...

BSkyB to pay $9bn to create Sky Europe 26 Jul 2014 - 12:19 am

Two BSkyB employee minibuses pass each other in west London yesterday. LONDON/PARIS: Britain’s BSkyB has agreed to pay $9bn to buy Rupert Murdoch’s...

China nod for setting up three private banks 26 Jul 2014 - 12:17 am

SHANGHAI: China has approved the setting up of three private banks, including one by Internet giant Tencent, the industry regulator said yesterday, in...

Russia takes aim at McDonald’s as US ties worsen 26 Jul 2014 - 12:17 am

MOSCOW: McDonald’s burgers and shakes may become the latest victims of worsening ties between Moscow and Washington after a Russian consumer watchdog agency...

GM profits hit by recall problems 25 Jul 2014 - 02:14 am

NEW YORK: General Motors is crying and Ford is laughing: The top US automakers posted wildly different earnings yesterday, the first hurt by...

Barley season 25 Jul 2014 - 02:14 am

A French farmer drives an old US combine, dating back to the 1950’s, as he harvests barley in a field in Sancourt, near...

Roasters’ favourite 25 Jul 2014 - 02:13 am

A worker sorts coffee berries at a factory in Kienjege, northwest of Kenya’s capital Nairobi, yesterday. Kenya is a relatively small producer of...

Bentley lowers sales growth expectations, plans expansion 25 Jul 2014 - 02:10 am

LONDON: Luxury carmaker Bentley expects to increase sales volumes this year by less than previously forecast, Chief Executive Wolfgang Duerheimer said yesterday as...