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End of Australia auto-making sector as Holden closes doors

End of Australia auto-making sector as Holden closes doors

Holden says that despite Friday’s plant closure it would retain 350 designers and engineers and some 700 corporate staff. SYDNEY: The last car rolled off the production line of Australian auto-maker Holden on Friday, marking the demise of a national industry unable to stand up to global competition. The closure of the Elizabeth plant in […]

October 20, 2017 | By | Reply More
Singapore Airlines to finalize US$13.8 billion Boeing order next week

Singapore Airlines to finalize US$13.8 billion Boeing order next week

SINGAPORE: Singapore Airlines Ltd said on Friday it will finalize an order for 39 Boeing Co aircraft worth US$13.8 billion at list prices when Singaporean Prime Minister Lee Hsien Loong visits Washington DC next week. The airline said in February it would order 20 777-9 and 19 787-10 widebodies as part of plans to modernize […]

October 20, 2017 | By | Reply More
Alphabet’s CapitalG leads Lyft’s US$1 billion funding round

Alphabet’s CapitalG leads Lyft’s US$1 billion funding round

Lyft said the latest round boosts its valuation to US$11 billion from US$7.5 billion. LOS ANGELES: Lyft Inc has raised US$1 billion in fresh financing, the ride-services company said on Thursday, in a round led by one of Alphabet Inc’s investment funds, further complicating the convoluted world of ride-hailing alliances and dealing a blow to […]

October 20, 2017 | By | Reply More
Oil prices edge up on signs of tightening market

Oil prices edge up on signs of tightening market

SINGAPORE: Oil markets edged up on Friday, recovering some of the previous day’s losses, as analysts pointed to signs of a tightening market. Brent crude futures LCOc1, the international benchmark for oil prices, were at US$57.31 at 0027 GMT, up 8 cents, or 0.1%, from their last close. US West Texas Intermediate (WTI) crude futures […]

October 20, 2017 | By | Reply More
Facebook to launch news subscription feature, some big names opt out

Facebook to launch news subscription feature, some big names opt out

SAN FRANCISCO: Facebook Inc said on Thursday it has signed up 10 news publishers including the Washington Post and The Economist to take part in a trial that gives its mobile app users access to a limited number of articles a month and then the option to subscribe via the publishers’ own websites. The move […]

October 19, 2017 | By | Reply More
GM to settle state ignition claims for US$120 million

GM to settle state ignition claims for US$120 million

Under the settlement, GM dealers must not sell certified pre-owned vehicles with uncompleted recalls, and is required to have a team to “improve and enhance recall awareness to car owners with open recalls.” WASHINGTON: General Motors Co has agreed to pay US$120 million to resolve claims from 49 US states and the District of Columbia […]

October 19, 2017 | By | Reply More
PayPal quarterly profit beats on higher mobile transaction volume

PayPal quarterly profit beats on higher mobile transaction volume

PayPal, whose product portfolio includes Braintree, Venmo, One Touch and Xoom, added 218 million active customer accounts in the reported quarter, up 13.5% from a year earlier. NEW YORK: Payment processor PayPal Holdings Inc reported a better-than-expected quarterly profit on Thursday, helped by growth in mobile payments volume. The company’s shares rose 4.3% to US$70.18 […]

October 19, 2017 | By | Reply More
Whirlpool seeks 50% duties on LG, Samsung washers in US trade case

Whirlpool seeks 50% duties on LG, Samsung washers in US trade case

WASHINGTON: Whirlpool and GE Appliances asked a US trade panel on Thursday to recommend 50% import duties on large residential washing machines to ensure that rivals LG and Samsung follow through on plans to shift washer production to the United States. At a hearing in a “global safeguard” trade case that could lead to US […]

October 19, 2017 | By | Reply More
Apple shares drop on iPhone 8 demand worries

Apple shares drop on iPhone 8 demand worries

SAN FRANCISCO: Apple Inc’s shares fell 1.5% in premarket trading on Thursday as brokers and traders speculated over poor demand and cuts in production of iPhone 8, ahead of the November launch of the 10th anniversary iPhone X. Apple no longer gives regular updates on sales numbers but indications from supply channels, phone operators and […]

October 19, 2017 | By | Reply More
Ryanair resolves advertising row with Google, eDreams

Ryanair resolves advertising row with Google, eDreams

The group had launched Irish High Court proceedings against Google and eDreams two years ago, accusing them of misleading customers and not offering the best deal. LONDON: Irish no-frills airline Ryanair has reached a settlement with Internet giant Google and travel agent eDreams, it said Thursday, ending a two-year legal battle over online advertising. “Ryanair, […]

October 19, 2017 | By | Reply More