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Ten automakers are sued over 'deadly' keyless ignitions

Ten automakers are sued over 'deadly' keyless ignitions

REUTERS: Ten of the world’s biggest automakers were sued on Wednesday by U.S. 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 Los Angeles federal court, carbon monoxide is emitted when drivers leave […]

August 26, 2015 | By | Reply More
Wal-Mart says to stop selling AR-15, other rifles

Wal-Mart says to stop selling AR-15, other rifles

REUTERS: Wal-Mart Stores says it will stop selling the AR-15 and other modern sports rifles at its stores due to sluggish demand. Kory Lundberg, a spokesman for the world’s largest retailer, said the decision was based solely on demand and was not related to recent high-profile shootings involving the rifles. (Reporting by Nathan Layne; Editing […]

August 26, 2015 | By | Reply More
Monsanto drops takeover bid for Syngenta

Monsanto drops takeover bid for Syngenta

NEW YORK: US seed giant Monsanto dropped its campaign to acquire Syngenta on Wednesday (Aug 26), ending hopes to add a Swiss pesticides giant it had seen as key to expanding its global reach. Monsanto said it had no choice but to pull the plug on the proposed deal after Syngenta refused to entertain repeated and improved offers. […]

August 26, 2015 | By | Reply More
Bruising sell-off tests market faith in central banks

Bruising sell-off tests market faith in central banks

LONDON: A bruising 48-hour sell-off in global stocks driven by fears of slowing growth has rocked market confidence in central bankers’ ability to fight deflation, restore economic health and keep a six-year-old bull run going. With the market mood still fragile, central banks appeared on Wednesday to be singing from the same soothing hymn sheet: […]

August 26, 2015 | By | Reply More
China police summon 11 over stock market activities

China police summon 11 over stock market activities

SHANGHAI: Chinese police have summoned 11 people including a financial journalist to assist investigations related to illegal stock market activities, state media reported, as the government targets volatility on the exchanges. The Chinese government launched an unprecedented rescue package as the stock market plummeted 30 per cent from mid-June, which included a crackdown on short-selling […]

August 26, 2015 | By | Reply More
FX pegs under pressure in emerging markets as commodity prices fall

FX pegs under pressure in emerging markets as commodity prices fall

LONDON: Plunging commodity prices are testing the viability of emerging currencies’ long-standing pegs to the dollar, with some already abandoned as countries balk at the cost of clinging to fixed exchange rates. Kazakhstan unshackled its tenge last week, and bets are growing that from Hong Kong to Saudi Arabia, dollar pegs are at risk. “Markets […]

August 26, 2015 | By | Reply More
Strong capital spending plans boost growth outlook

Strong capital spending plans boost growth outlook

WASHINGTON: A gauge of U.S. business investment plans recorded its largest increase in just over a year in July, suggesting the United States was in good shape to withstand growing strains in the global economy. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, […]

August 26, 2015 | By | Reply More
MyRepublic, Consistel, Circles Asia reiterate interest to be Singapore's 4th mobile operator

MyRepublic, Consistel, Circles Asia reiterate interest to be Singapore's 4th mobile operator

SINGAPORE: The three telecom firms vying to be Singapore’s fourth mobile network operator reiterated their interest on Wednesday (Aug 26), as the deadline to submit feedback on Infocomm Development Authority of Singapore’s (IDA) consultation paper passed. Singapore currently has three mobile phone operators – Singtel, StarHub and M1. In the paper, IDA indicated it would […]

August 26, 2015 | By | Reply More
CPF Investment Scheme funds lose value in Q2

CPF Investment Scheme funds lose value in Q2

SINGAPORE: Unit trusts and investment-linked insurance products (ILPs) included under the Central Provident Fund Investment Scheme (CPFIS) saw a drop in value during the second quarter, fund research firm Lipper said on Wednesday (Aug 26). Lipper, which is part of Thomson Reuters, said CPFIS-included funds lost on average 1.53 per cent of their value in […]

August 26, 2015 | By | Reply More
Manufacturers see slower hiring

Manufacturers see slower hiring

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) foresee slower hiring in the second half of the year in the face of rising cost of doing business and weakening of the ringgit. “Business expectations remain pessimistic as manufacturers here face rising cost of doing business. The ringgit weakening weighs on our members’ sentiment as the […]

August 26, 2015 | By | Reply More