Recent Articles

BofA to cut 'a couple of hundred' jobs: WSJ

BofA to cut 'a couple of hundred' jobs: WSJ

REUTERS: Bank of America Corp is planning “a couple of hundred” job cuts at its global banking and markets unit, the Wall Street Journal reported. The bank could announce the layoffs as early as Tuesday, the Journal said, citing people familiar with the matter. (http://on.wsj.com/1JAaJV1) Bank of America, which had about 216,700 full-time employees as […]

September 29, 2015 | By | Reply More
European stocks slide on growth uncertainty

European stocks slide on growth uncertainty

LONDON: European stock markets slid on Tuesday (Sep 29) over uncertainty about global growth adding to heavy losses at the start of the week, while mining giant Glencore’s shares rebounded on assurances of solvency. In London, the benchmark FTSE 100 index closed down 0.83 per cent at 5,909.24 points.In the eurozone, Frankfurt’s DAX 30 finished with […]

September 29, 2015 | By | Reply More
AB InBev in talks to raise up to US$70 billion for SABMiller: Bloomberg

AB InBev in talks to raise up to US$70 billion for SABMiller: Bloomberg

REUTERS: Anheuser-Busch InBev SA is in talks with lenders including Bank of America and Banco Santander to raise as much as US$70 billion as it prepares to approach rival SABMiller Plc for a takeover, Bloomberg reported. AB InBev is working with about 10 banks to arrange US$50 billion to US$70 billion, Bloomberg reported, citing people […]

September 29, 2015 | By | Reply More
US consumer confidence brightens in September

US consumer confidence brightens in September

WASHINGTON: US consumer confidence grew moderately in September, building on August’s strong rebound, as consumers turned more positive about current economic conditions, the Conference Board reported Tuesday (Sep 29). The Consumer Confidence Index rose to 103.0 in September, from a slightly downwardly revised 101.3 last month, beating market expectations for a sharp drop in confidence. […]

September 29, 2015 | By | Reply More
Glencore fight back over debt fears lifts shares

Glencore fight back over debt fears lifts shares

JOHANNESBURG/LONDON: Glencore said on Tuesday it was strong enough to ride out current volatility in commodity markets which helped to lift the mining group’s shares by a fifth. Glencore’s stock rebounded after a fall of 30 percent to a record low on Monday in response to uncertainty over its ability to cope with a prolonged […]

September 29, 2015 | By | Reply More
Cargolux may buy five 747s, says China gloom overstated

Cargolux may buy five 747s, says China gloom overstated

LUXEMBOURG: Cargolux is in talks with Boeing to buy five more 747-8F freighter jets, the head of Europe’s largest all-freight carrier said on Tuesday. Such a deal could be worth US$1.9 billion at list prices. The aircraft would serve a planned joint venture between Cargolux and its 35 percent shareholder Henan Civil Aviation Development & […]

September 29, 2015 | By | Reply More
VW admits commercial vehicles involved in pollution scam

VW admits commercial vehicles involved in pollution scam

FRANKFURT: Volkswagen on Tuesday (Sep 29) revealed more details about the vehicles fitted with pollution-cheating software as the German auto giant’s new chief promised a grand plan of action to resolve the “severest test in (the company’s) history.” A spokesman for VW’s commercial vehicles division said that out of the 11 million vehicles worldwide that […]

September 29, 2015 | By | Reply More
Take-up of Singapore Savings Bond could have been stronger: Analysts

Take-up of Singapore Savings Bond could have been stronger: Analysts

SINGAPORE: Calls for the Government to offer more long-term savings instruments have intensified in recent years, amid an unusually long period of ultra-low interest rates. One such instrument is the Singapore Savings Bond, but the first issue only sold a third of the maximum S$1.2 billion available.  With a payout of 2.63 per cent per […]

September 29, 2015 | By | Reply More
Tumbling commodity prices put the squeeze on resource firms

Tumbling commodity prices put the squeeze on resource firms

FROM scrap dealers in the rich world to wild-cat miners in Africa, the ripple effects of slowing demand for metals in China are being felt far and wide. But few have been hit as hard as Glencore, a debt-laden Anglo-Swiss miner and trader. On September 28th its shares fell by almost a third, despite the […]

September 29, 2015 | By | Reply More
India's central bank slashes interest rates

India's central bank slashes interest rates

RAGHURAM RAJAN, the governor of Reserve Bank of India, has a reputation as a monetary-policy hawk, a central banker who frets more about stubborn inflation than sluggish growth. But he is also has a fondness for surprises. Twice this year he cut the central bank’s main rate outside the usual schedule of the RBI’s bi-monthly […]

September 29, 2015 | By | Reply More