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Exclusive: Airbus presses A320 suppliers for 10 percent price cut – sources

Exclusive: Airbus presses A320 suppliers for 10 percent price cut – sources

PARIS: European planemaker Airbus is pressing suppliers on its A320 jet program to slash prices by at least 10 percent by 2019 in order to make the company’s main cash cow more competitive, three people familiar with the matter said. The enhanced efficiency plans echo rival Boeing’s cost-cutting Partner for Success initiative, which has redrawn […]

September 25, 2015 | By | Reply More
Wall Street opens higher as Yellen eases growth fears

Wall Street opens higher as Yellen eases growth fears

REUTERS: U.S. stocks opened higher on Friday, a day after Federal Reserve Chair Janet Yellen said she expects interest rates to be raised this year, easing concerns about slowing global growth. Nike’s surprisingly strong results in China and data showing that the U.S. economy expanded more than previously estimated in the second quarter added to […]

September 25, 2015 | By | Reply More
Russian watchdog requests info from BMW unit on emissions

Russian watchdog requests info from BMW unit on emissions

MOSCOW: Russian state standards agency Rosstandart said on Friday it had requested information from the Russian unit of German carmaker BMW related to possible issues with its exhaust emissions systems. “We have got information about possible problems with the exhaust control systems for BMW cars. In order to check this information … a request has […]

September 25, 2015 | By | Reply More
BlackBerry posts bigger-than-expected loss, shares slump

BlackBerry posts bigger-than-expected loss, shares slump

TORONTO: BlackBerry Ltd reported a bigger-than-expected second-quarter loss on Friday, as revenue from its once-iconic smartphone slid further, sending shares down nearly 4 percent in premarket trading. The Waterloo, Ontario-based company said it expects “modest” sequential revenue growth in the remaining two quarters of this fiscal year and a return to profitability in the fourth […]

September 25, 2015 | By | Reply More
Volkswagen to pick new boss to tackle emissions scandal

Volkswagen to pick new boss to tackle emissions scandal

WOLFSBURG, Germany: Volkswagen is expected to name Matthias Mueller, the head of its Porsche division, as chief executive on Friday and purge other managers to show it is acting decisively to end a crisis over its rigging of U.S. diesel emission tests. The 62-year-old company veteran will be chosen at a supervisory board meeting to […]

September 25, 2015 | By | Reply More
Bargain hunting lifts Bursa M'sia marginally higher

Bargain hunting lifts Bursa M'sia marginally higher

KUALA LUMPUR: Bursa Malaysia ended the day marginally higher prompted by bargain hunting activities with consumer-linked stocks leading the top gainers list. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 1.84 points better at 1,615.01, after moving between 1,603.02 and 1,617.44 throughout the day. However, market breadth was slightly negative with losers […]

September 25, 2015 | By | Reply More
Ringgit ends lower against greenback

Ringgit ends lower against greenback

KUALA LUMPUR: The ringgit closed 0.81 per cent lower to the US dollar today on a sell-off ahead of the weekend, a dealer said. At 5pm, the ringgit was quoted at 4.3800/9000 against the greenback from 4.3450/3480 on Wednesday. The local unit reached the weakest intraday level of 4.3900 to the dollar for the first […]

September 25, 2015 | By | Reply More
Daimler denies it manipulated emissions data

Daimler denies it manipulated emissions data

FRANKFURT: Daimler on Friday denied allegations by lobby group Deutsche Umwelthilfe (DUH) that it had rigged emissions data for its vehicles. DUH has said on Thursday that tests had shown vehicles made by German carmakers including Daimler significantly exceeded limits on nitrogen oxide emissions. “We sharply deny the allegation that we manipulated our cars during […]

September 25, 2015 | By | Reply More
Bursa Malaysia issues UMA query on IFCA

Bursa Malaysia issues UMA query on IFCA

KUALA LUMPUR: Bursa Malaysia has issued an Unusual Market Activity (UMA) query to IFCA MSC Bhd due to the rise in volume and and price of its shares. In a statement today, the local bourse advised investors, when making their investment decisions, to take note of the company’s reply to the UMA query which would […]

September 25, 2015 | By | Reply More
Futures jump as Yellen eases fears of slowing growth

Futures jump as Yellen eases fears of slowing growth

REUTERS: U.S. stock index futures rose 1.5 percent on Friday, a day after Federal Reserve Chair Janet Yellen said she expects the central bank to raise interest rates later this year. * Yellen’s comments helped ease fears regarding the growth of the global economy. Markets have been skittish since last week, when Yellen cited concerns […]

September 25, 2015 | By | Reply More