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Falling knives and dead cats: When will the oil slump end?

Falling knives and dead cats: When will the oil slump end?

NEW YORK: As oil traders have learned time and again, picking a bottom in today’s glutted global market can be a fool’s game: just when prices start to rebound, as they have three times this year, a wave of renewed bearishness smacks them back down. With oil resuming its southward march due to yet more […]

December 17, 2015 | By | Reply More
IMF head Lagarde to face French trial over Tapie affair: report

IMF head Lagarde to face French trial over Tapie affair: report

PARIS: The lawyer of International Monetary Fund (IMF) boss Christine Lagarde said on Thursday he would recommend his client appeal a French court’s decision to bring her to trial over her role in the Bernard Tapie/Credit Lyonnais affair. “It’s incomprehensible,” Lagarde’s lawyer Yves Repiquet said on French TV channel iTele. “I will recommend Mrs Lagarde […]

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Ding-dong: Cerberus comes calling at Avon with US$605 million investment

Ding-dong: Cerberus comes calling at Avon with US$605 million investment

REUTERS: Avon Products Inc said Cerberus Capital Management LP would take a 16.6 percent stake in the company and buy 80.1 percent of its North American business, in a US$605 million deal that throws a lifeline to the struggling cosmetics maker. Cerberus will invest US$435 million for its stake in Avon, valuing the pioneer direct-selling […]

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Delta Air sees smaller decline in passenger unit revenue

Delta Air sees smaller decline in passenger unit revenue

REUTERS: Delta Air Lines Inc said it expected its passenger revenue per available seat mile (PRASM) to decline about 2 percent in the current quarter, smaller than the fall it had anticipated earlier. The No.3 U.S. airline by flight capacity had said this month that it expected the fall in PRASM to be at the […]

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Volkswagen chief appoints new top management team

Volkswagen chief appoints new top management team

FRANKFURT: Volkswagen’s chief executive Matthias Mueller named his new management team on Thursday, including the replacement for the group’s research and development chief who left earlier this month as a result of the diesel emissions scandal. Under the overhaul the number of top managers reporting to the CEO almost halves. “These structural changes speed up […]

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Navistar posts loss, says goal is profitability in 2016

Navistar posts loss, says goal is profitability in 2016

CHICAGO: Truckmaker Navistar International Corp posted its 13th consecutive quarterly loss on Thursday amid declining revenue but said that it plans to further cut costs in 2016 and return to profitability. The company said sales declined for heavy trucks, rose for school buses and medium-sized trucks in its core U.S. and Canadian markets, but exports […]

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Mortgagee listings set to hit 7-year high: Colliers International

Mortgagee listings set to hit 7-year high: Colliers International

SINGAPORE: Mortgagee listings in Singapore look set to hit a seven-year high by the end of 2015. According to property services firm Colliers International, 241 repossessed properties were put up for auction this year, up by almost 52 per cent from 159 in 2014. This is the highest since 2008. In a media release on […]

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European lawmakers to probe EU role in VW scandal

European lawmakers to probe EU role in VW scandal

December 17, 2015 STRASBOURG: European lawmakers approved on Thursday a wide-ranging probe into the Volkswagen emissions scandal and allegations that EU regulators turned a blind eye to suspicious pollution testing of diesel cars. “After the revelations putting the role of the European Commission into question, it is necessary that the European Parliament provide some transparency […]

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Dubai FDI and Dubai Exports invite Polish businesses to tap new markets through Dubai

Dubai FDI and Dubai Exports invite Polish businesses to tap new markets through Dubai

Dubai-Poland Business Forum briefed on the advantages of doing business in Dubai   Dubai, Dec 17: Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, and Dubai Exports, recently hosted a business delegation from Poland and presented to them the competitive advantages of doing business in Dubai […]

December 17, 2015 | By | Reply More
Falling knives and dead cats: When will the oil slump end?

Falling knives and dead cats: When will the oil slump end?

NEW YORK: As oil traders have learned time and again, picking a bottom in today’s glutted global market can be a fool’s game: just when prices start to rebound, as they have three times this year, a wave of renewed bearishness smacks them back down. With oil resuming its southward march due to yet more […]

December 17, 2015 | By | Reply More