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CVS Health in US$48 million settlement of lawsuit over stock plunge

CVS Health in US$48 million settlement of lawsuit over stock plunge

REUTERS: CVS Health Corp reached a US$48 million settlement of a lawsuit accusing the U.S. drugstore operator of fraudulently concealing a big loss of revenue in its pharmacy benefits manager business, culminating in a plunge in its stock price. The all-cash settlement with investors led by three Massachusetts public pension funds was disclosed in a […]

September 16, 2015 | By | Reply More
Airlines try to woo customers back to their own websites

Airlines try to woo customers back to their own websites

BERLIN/NEW YORK: Airlines are trying to draw passengers away from low-price comparison sites and back to their own home pages, seeking to boost profits by selling them extra services such as additional legroom or access to airport lounges. Airlines across Europe and the United States are experimenting with strategies to bring travellers back to their […]

September 16, 2015 | By | Reply More
Wall St. set to open flat as Fed uncertainty reigns

Wall St. set to open flat as Fed uncertainty reigns

REUTERS: Wall Street was set to open little changed on Wednesday as investors held off making big bets ahead of the two-day Federal Reserve meeting that will decide on an interest rate hike. The Fed begins its meeting on Wednesday and will announce its decision on Thursday. Speculation about when the Fed will end seven […]

September 16, 2015 | By | Reply More
AB InBev seeks to buy SABMiller to tighten grip on beer market

AB InBev seeks to buy SABMiller to tighten grip on beer market

BRUSSELS/LONDON: Anheuser-Busch InBev has approached rival SABMiller about a takeover that would form a brewing colossus which makes around a third of the beer consumed globally. Belgium’s AB InBev – the world’s biggest brewer – makes Budweiser, Stella Artois and Corona, while Britain-based SABMiller – the No. 2 player – owns Peroni, Grolsch and Pilsner […]

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FedEx quarterly earnings rise, miss Wall Street estimates

FedEx quarterly earnings rise, miss Wall Street estimates

CHICAGO: Package delivery company FedEx Corp on Wednesday reported a higher quarterly net profit, but missed Wall Street estimates as weak global economic conditions and the strong U.S. dollar weighed on results. The Memphis-based company reported a fiscal 2016 first-quarter net profit of US$692 million or US$2.42 per share, up 6 percent from US$653 million […]

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Vietnam-Singapore Industrial Park in Nghe An breaks ground

Vietnam-Singapore Industrial Park in Nghe An breaks ground

SINGAPORE: Sembcorp Development, a subsidiary of Sembcorp Industries (Sembcorp) on Wednesday (Sep 16) held a groundbreaking ceremony for the seventh Vietnam-Singapore Industrial Park (VSIP) on Wednesday (Sep 16) in Nghe An province, Vinh City, Vietnam. The ceremony was officiated by Singapore’s Minister for Trade and Industry Lim Hng Kiang and Vietnamese Prime Minister Nguyen Tan […]

September 16, 2015 | By | Reply More
Global beer leader AB InBev to make offer for rival SABMiller

Global beer leader AB InBev to make offer for rival SABMiller

LONDON/BRUSSELS: Anheuser-Busch InBev , the world’s biggest beer maker, has approached rival SABMiller about a takeover that would form a brewing colossus that makes around a third of the beer drunk globally. A merged group would have a combined market value of around US$270 billion, based on current prices. It would combine AB InBev’s dominance […]

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Eurozone inflation revised lower to 0.1% in August

Eurozone inflation revised lower to 0.1% in August

BRUSSELS: Inflation in the 19-country eurozone fell to 0.1 per cent in August, revised data showed on Wednesday (Sep 16), in a sign that a dangerous spell of falling prices could be returning to Europe. The EU’s Eurostat agency slashed its first estimate of 0.2 per cent, with tumbling oil prices having the biggest effect […]

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Asia’s millionaires to become world’s richest

Asia’s millionaires to become world’s richest

SINGAPORE: Asia Pacific millionaires are set to become the world’s richest next year, a report said Wednesday, driven largely by wealthy individuals in India and China. The combined wealth of Asia Pacific’s super rich will surpass its 2014 total of US$15.8 trillion and overtake that of their North American counterparts – currently the world’s richest […]

September 16, 2015 | By | Reply More
Asia's millionaires to become world's richest: Report

Asia's millionaires to become world's richest: Report

SINGAPORE: Asia Pacific millionaires are set to become the world’s richest this year, a report said Wednesday, driven largely by wealthy individuals in India and China. The combined wealth of Asia Pacific’s super rich will surpass its 2014 total of US$15.8 trillion and overtake that of their North American counterparts – currently the world’s richest […]

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