RSSCategory: News

Class action suit against Barclays alleges forex rigging losses

Class action suit against Barclays alleges forex rigging losses

REUTERS: A New York-based investment adviser filed a class action lawsuit against Barclays Plc on Friday alleging that rigged foreign exchange trading practices at the bank caused “significant damages” to its trading partners. The suit by Axiom Investment Advisors LLC, filed in a Manhattan federal court, follows a pact on Nov 18 in which Barclays […]

November 27, 2015 | By | Reply More
Commonwealth sets up US$1 billion green finance facility

Commonwealth sets up US$1 billion green finance facility

VALLETTA: Maltese Prime Minister Joseph Muscat unveiled on Friday (Nov 27) a new US$1 billion Commonwealth Green Finance Facility to support environmental projects within the 53-nation bloc as the race against climate change intensifies. The CGFF will start with a working group, bringing together representatives from countries including Australia, Britain, Canada, Malaysia and Nigeria, and […]

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Holiday shopping unlikely to cheer many investors

Holiday shopping unlikely to cheer many investors

SAN FRANCISCO: The holiday shopping rush that kicked off on Friday is unlikely to bring much cheer to investors looking for a revival in retail stocks. After months of uninspiring sales growth and recent disappointments from Macy’s and Nordstrom , shareholders of apparel sellers have had little to be thankful for and face a challenging […]

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Musk's Tesla faces German battle over battery-powered homes

Musk's Tesla faces German battle over battery-powered homes

FRANKFURT: If Elon Musk’s vision of millions of households producing all their own power becomes a reality, it will probably happen first in Germany. But he will face a battle for market share against local firms with years of experience in renewable energy. The South African-born entrepreneur’s company Tesla, best known for its electric cars, […]

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Netherlands to appeal EU demand for Starbucks back taxes

Netherlands to appeal EU demand for Starbucks back taxes

THE HAGUE: The Dutch government said on Friday (Nov 27) it will appeal an EU ruling that Starbucks must pay some €30 million (US$34 million) in back taxes for enjoying an “illegal” tax break. In a major blow to sweetheart tax arrangements, Brussels said last month the deals the Netherlands had given to the US […]

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Wall St. flat as Disney weighs; retailers off on sales worries

Wall St. flat as Disney weighs; retailers off on sales worries

REUTERS: The major U.S. stock indexes ended Friday little changed in light trading, with consumer stocks falling as investors fretted about early reports on the U.S. holiday shopping season. Wrapping up a short session following Thursday’s Thanksgiving holiday, the Dow Jones industrial average fell 14.9 points, or 0.08 percent, to end at 17,798.49. The S&P […]

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German consumer confidence slips over refugee influx

German consumer confidence slips over refugee influx

BERLIN: German consumer confidence slipped for a fourth month in a row in November as shoppers worried about the impact of a record influx of asylum seekers, a survey found Thursday. A monthly index calculated by market research firm GfK from questioning 2,000 consumers slipped 0.2 points to 9.4, although the rate of decline had […]

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Dutch government to appeal EU ruling on Starbucks tax deal

Dutch government to appeal EU ruling on Starbucks tax deal

AMSTERDAM: The Dutch Finance Ministry said on Friday it will appeal against a European Commission ruling ordering it to recover up to 30 million euros (US$31.8 million) in taxes from Starbucks. Antitrust commissioner Margrethe Vestager ordered the Netherlands in October to recover 20 million to 30 million euros (US$23 million to US$34 million) in back […]

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Entrepreneurs play important role in economic restructuring: Manpower Minister

Entrepreneurs play important role in economic restructuring: Manpower Minister

SINGAPORE: Entrepreneurs play a very important role in Singapore’s economic restructuring, and Manpower Minister Lim Swee Say has called on them to strive for productivity improvements and innovative breakthroughs. Mr Lim was speaking at the 2015 Entrepreneur of the Year Awards organised by the Association of Small and Medium Enterprises and the Rotary Club of […]

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Halliburton refiles bid for EU approval of US$35 billion Baker Hughes buy

Halliburton refiles bid for EU approval of US$35 billion Baker Hughes buy

BRUSSELS – U.S. oil services provider Halliburton Co has refiled a request for EU antitrust approval of its US$35 billion bid for smaller rival Baker Hughes , four months after regulators rejected an earlier application because of insufficient data. The European Commission will decide by Jan. 12 whether to clear the deal or open a […]

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