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Ringgit eases against US dollar at opening

Ringgit eases against US dollar at opening

KUALA LUMPUR: The ringgit eased against the US dollar at opening today dampened by weaker oil price sentiment, dealers said. At 9am, the ringgit was quoted at 4.2850/2940 versus the greenback from 4.2630/2680 at 5pm on Wednesday A dealer said Brent crude, the global crude oil benchmark, was down almost 4% to US$48.58 a barrel […]

November 5, 2015 | By | Reply More
Productivity gauge widened for more accurate picture

Productivity gauge widened for more accurate picture

SINGAPORE: The Ministry of Trade and Industry (MTI) will start taking into account the actual hours worked – instead of just the number of workers in the economy – in its labour productivity measurement to better reflect the current economic conditions and labour landscape here. Measuring productivity by real value-added per actual hour worked is also […]

November 5, 2015 | By | Reply More
Crude futures edge up, but US inventory build drags

Crude futures edge up, but US inventory build drags

TOKYO: Oil futures were up slightly in early Asian trade on Thursday, barely making a dent in losses posted the previous session after official figures showed a sixth consecutive week of inventory gains in U.S. crude stockpiles. Crude prices slumped as much as 4 percent on Thursday after the Energy Information Administration said U.S. crude […]

November 5, 2015 | By | Reply More
Boeing nears decision on protest of US bomber award to Northrop

Boeing nears decision on protest of US bomber award to Northrop

WASHINGTON: Boeing Co may decide as soon as Thursday whether to protest the U.S. Air Force’s selection of Northrop Grumman Corp to develop and build a next-generation long-range strike bomber amid signs that a challenge could be an uphill battle, according to sources familiar with the issue. Boeing spokesman Todd Blecher said the company had […]

November 5, 2015 | By | Reply More
Fed says it is pushing big banks to write credible 'living wills'

Fed says it is pushing big banks to write credible 'living wills'

REUTERS: The U.S. Federal Reserve is pushing big banks to do more to prove in so-called “living wills” that they can be wound down safely if they become unsound, board chair Janet Yellen said on Wednesday. “We are asking for very substantial changes on the part of these firms,” Yellen said in response to questions […]

November 5, 2015 | By | Reply More
Groupon takes fresh hit as new CEO outlines strategy

Groupon takes fresh hit as new CEO outlines strategy

SAN FRANCISCO: Take another discount on the stock price: Groupon fell hard on Wednesday as the company’s new chief executive laid out his strategy in the face of a weakening sales. In midday trade, the daily deals group Groupon traded down 27 percent at $2.93 — after already tumbling some 75 percent over the past […]

November 5, 2015 | By | Reply More
Fuel on the fire

Fuel on the fire

VOLKSWAGENS can be fitted with nifty kit that takes control of a car’s brakes after a smash to slow it down and help avoid subsequent collisions. If only the carmaker itself were equipped with a similar device. In September the firm admitted rigging 11m diesel vehicles worldwide to cheat tests for emissions of nitrogen oxides […]

November 5, 2015 | By | Reply More
US will not pause Keystone review; Obama expected to reject

US will not pause Keystone review; Obama expected to reject

WASHINGTON: The United States formally denied a request on Wednesday to pause the review of the proposed Keystone XL oil pipeline, a decision expected to lead to the project’s rejection by the Obama administration. TransCanada Corp’s request to the State Department for a delay was seen by many as an attempt to postpone the decision […]

November 4, 2015 | By | Reply More
Facebook rides mobile wave to boost profits, user base

Facebook rides mobile wave to boost profits, user base

SAN FRANCISCO: Facebook said Wednesday surging mobile advertising lifted its profits and revenues as the world’s biggest social network grew to over 1.5 billion people. Net profit in the third quarter jumped 11 per cent from a year ago to US$891 million as revenues leapt 41 per cent to US$4.5 billion, despite the negative impact of […]

November 4, 2015 | By | Reply More
US stocks dip as Yellen sees possible December rate hike

US stocks dip as Yellen sees possible December rate hike

NEW YORK: Wall Street stocks dropped on Wednesday (Nov 4) after Federal Reserve Chair Janet Yellen said the US central bank could lift interest rates in December. Yellen, speaking in a congressional hearing, said a rate hike next month was a “live possibility” if data continues to show solid economic growth. Her remarks came two days before […]

November 4, 2015 | By | Reply More