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M’sia economic panel will do little to soothe markets

M’sia economic panel will do little to soothe markets

Chua said the absence of central bank governor Zeti Akhtar Aziz was “disturbing” and would limit the committee’s options in reviewing economic policies. KUALA LUMPUR: Malaysia’s bid to restore investor confidence with an economic task force including top bankers is insufficient given questions about a troubled state fund and the absence of the central bank […]

August 27, 2015 | By | Reply More
Panasonic to stop making batteries in Beijing, cut 1,300 jobs

Panasonic to stop making batteries in Beijing, cut 1,300 jobs

TOKYO: Japanese electronics giant Panasonic Corp on Thursday said it will stop making lithium-ion batteries at its factory in Beijing this month, cutting 1,300 jobs due to weak global demand for basic mobile phones and digital cameras. Employees were informed in late July of the planned closure of the 15-year-old factory, a company spokeswoman said. […]

August 27, 2015 | By | Reply More
Panasonic to stop making batteries in Beijing, cut 1,300 jobs

Panasonic to stop making batteries in Beijing, cut 1,300 jobs

August 27, 2015 TOKYO: Japanese electronics giant Panasonic Corp will stop making lithium-ion batteries at its factory in Beijing this month, cutting 1,300 jobs as it faces stiff competition from South Korean rivals, the Nikkei business daily said on Thursday. The plant, which produces batteries for mobile phones and cameras mainly for non-Japanese brands, has […]

August 27, 2015 | By | Reply More
Asia stocks up as Wall Street rally calms markets, dollar surges

Asia stocks up as Wall Street rally calms markets, dollar surges

TOKYO: Asian stocks rose on Thursday as a sharp rebound on Wall Street helped soothe investors’ tattered nerves, while the dollar rallied as risk aversion eased. Stock markets around the world had tumbled earlier in the week as a slump in Shanghai shares fueled worries over China’s economic health, but some calm returned after Beijing […]

August 27, 2015 | By | Reply More
Monsanto, rivals eye next step after Syngenta deal collapse

Monsanto, rivals eye next step after Syngenta deal collapse

CHICAGO: Monsanto Co , having ditched an audacious US$46 billion offer for Syngenta AG , may downshift to a humbler strategy of beefing up its crop protection portfolio through other acquisitions, partnerships and licensing agreements. The deal’s collapse leaves Monsanto, Syngenta and other agrochemical sector companies facing a bleak landscape of plummeting grain prices and […]

August 27, 2015 | By | Reply More
IMF chief Lagarde to visit Indonesia next week

IMF chief Lagarde to visit Indonesia next week

August 27, 2015 WASHINGTON: The International Monetary Fund managing director, Christine Lagarde, heads to Indonesia next week for talks with senior officials and a high-level Asian finance conference, the IMF said Wednesday. During her September 1-2 visit, Lagarde will meet with President Joko Widodo and other senior officials, including Bank Indonesia Governor Agus Martowardojo. The […]

August 27, 2015 | By | Reply More
Fidelity Investments considers dropping AmEx, BofA as partners: Bloomberg

Fidelity Investments considers dropping AmEx, BofA as partners: Bloomberg

REUTERS: Mutual fund provider Fidelity Investments is considering dropping American Express Co and Bank of America Corp to find new partners and better terms, Bloomberg reported, citing people familiar with the matter. Visa Inc and MasterCard Inc are in talks with Fidelity to replace AmEx, Bloomberg cited the sources as saying. Warehouse club retailer Costco Wholesale Corp said […]

August 27, 2015 | By | Reply More
Ten automakers are sued in US over ‘deadly’ keyless ignitions

Ten automakers are sued in US over ‘deadly’ keyless ignitions

Ten of the world’s biggest automakers were sued on Wednesday by US consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million vehicles equipped with keyless ignitions, leading to 13 deaths. According to the complaint filed in federal court in Los Angeles, carbon monoxide is emitted when drivers leave […]

August 26, 2015 | By | Reply More
Wall Street is for sale – but is it cheap?

Wall Street is for sale – but is it cheap?

NEW YORK: During more than a week of stock market sell-offs, investors have been exhorted to use declines to pick up bargains – and with a 7.7 percent drop on the S&P 500 since August 17, stocks have certainly gotten less expensive. To determine how cheap they are, investment pros look at yields, earnings and […]

August 26, 2015 | By | Reply More
Gap to end 'on-call' shifts for workers

Gap to end 'on-call' shifts for workers

REUTERS: Apparel retailer Gap Inc said it would end on-call shifts at all of its stores and improve scheduling policies to provide employees with at least 10-14 days’ notice. The decision follows an inquiry by New York State attorney general Eric Schneiderman’s office into the legality of on-call shifts at 13 retailers, including Gap, Target […]

August 26, 2015 | By | Reply More