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Bitcoin trembles at US$10,000 level, paring gains with rival coins

Bitcoin trembles at US$10,000 level, paring gains with rival coins

Optimism for cryptocurrencies this week coincides with a rebound in global stock markets. LONDON: Bitcoin edged lower rather than break above US$10,000, triggering a selloff in other large digital coins. The largest cryptocurrency was up 3.1% to US$9,573 as of 11.43am in London, after halting a march higher when it came within 0.3% of the […]

February 15, 2018 | By | Reply More
Nestle opens door to L’Oreal stake sale as growth slumps

Nestle opens door to L’Oreal stake sale as growth slumps

CEO Mark Schneider says company won’t increase its 23% investment in the French cosmetics maker and wants to keep all other options open. VEVEY: Nestle SA opened the door to a possible sale of its L’Oreal SA stake in a move that would give CEO Mark Schneider ammunition to sharpen the Swiss giant’s portfolio after […]

February 15, 2018 | By | Reply More
Amazon to add 2,000 jobs in France as recovery drives demand

Amazon to add 2,000 jobs in France as recovery drives demand

The expansion will increase the retailer’s French workforce by more than a third and bring its total number of employees to more than 7,500 by the end of 2018. PARIS: Amazon.com Inc will create 2,000 permanent jobs this year with an eye to the strengthening French economy. Amazon, which already added 1,500 jobs in France […]

February 15, 2018 | By | Reply More
Japan’s crypto exchange Coincheck sued after hack

Japan’s crypto exchange Coincheck sued after hack

TOKYO: Cryptocurrency traders filed a lawsuit Thursday against Japanese exchange firm Coincheck for freezing withdrawals after hackers stole hundreds of millions of dollars in digital assets. Seven people took part in the lawsuit filed at the Tokyo District Court, plaintiffs’ lawyer Hiromu Mochizuki told AFP before the filing. The hack of Coincheck — resulting in […]

February 15, 2018 | By | Reply More
Zara, Next denim Supplier bucks Pakistan’s textile malaise

Zara, Next denim Supplier bucks Pakistan’s textile malaise

Artistic Denim Mills Ltd, which operates as a one-stop shop turning cotton into jeans, is doubling production and has built a new factory in Pakistan’s financial hub. An Artistic Denim Mills Ltd employee sprays a chemical on a pair of jeans at the factory. KARACHI: A denim factory in Karachi could hold the key to […]

February 15, 2018 | By | Reply More
Qantas faces looming funding crunch to renew fleet, S&P says

Qantas faces looming funding crunch to renew fleet, S&P says

NEW SOUTH WALES: After delaying spending on its fleet for too long during a turnaround program, Qantas Airways Ltd faces a possible funding squeeze when it’s time to buy new planes, according to S&P Global Ratings. The Australian flag carrier needs to increase investment in its ageing fleet of 309 planes before the sum required […]

February 15, 2018 | By | Reply More
Appetite for sushi, hummus boosts Nigeria sesame seed export

Appetite for sushi, hummus boosts Nigeria sesame seed export

ABUJA: A burgeoning global demand for sesame seed for hummus, toppings on sushi, health foods and confectionery, is boosting output in Nigeria and spurring expansion in the world’s third-biggest producer. Production of the tiny seeds, easily recognisable on bread rolls, is expected to grow 40% in Nigeria in the 2017-18 season, according to Sheriff Balogun, […]

February 14, 2018 | By | Reply More
Danone to sell stake in Japan’s Yakult for US$1.8 Billion

Danone to sell stake in Japan’s Yakult for US$1.8 Billion

PARIS: Danone, the world’s largest yoghurt maker, is selling about US$1.8 billion worth of shares in Yakult Honsha Co, paring back a Japanese investment the French yoghurt maker has held for more than a decade. Yakult will offer as many as 24.6 million shares held by its biggest shareholder in a secondary sale, including over-allotment, […]

February 14, 2018 | By | Reply More
Major Xerox investor sues to block takeover by Fujifilm

Major Xerox investor sues to block takeover by Fujifilm

Darwin Deason, who along with Carl Icahn controls 15.2% of Xerox’s shares, is suing the US photocopier and Fujifilm alleging fraud. NEW YORK: One of Xerox’s biggest shareholders filed suit Tuesday to challenge the US photocopier and printer maker’s planned takeover by Japanese technology firm Fujifilm. The suit was lodged by Darwin Deason who – […]

February 14, 2018 | By | Reply More
Uber loss leapt in 2017 as final quarter showed hope

Uber loss leapt in 2017 as final quarter showed hope

SAN FRANCISCO: Ride-share titan Uber on Tuesday revealed that its losses last year swelled despite signs in the final three months that it was stemming the red ink. Figures reported by The Information and confirmed by AFP showed that Uber’s losses in 2017 grew to US$4.5 billion from the US$2.8 billion the San Francisco-based firm […]

February 14, 2018 | By | Reply More