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Yellen resumes schedule after struggling to finish speech

Yellen resumes schedule after struggling to finish speech

AMHERST, Mass.: Federal Reserve Chair Janet Yellen received medical attention on Thursday after struggling to finish a speech at the University of Massachusetts, Amherst, coughing and pausing to recompose herself a few times before walking off stage. As head of the central bank of the world’s largest economy, Yellen, 69, plays a major role in […]

September 24, 2015 | By | Reply More
Dollar gains as Yellen eyes rate hike by year's end

Dollar gains as Yellen eyes rate hike by year's end

NEW YORK: The dollar rallied on Thursday (Sep 24) after US Federal Reserve Chair Janet Yellen said she still expects the central bank to lift benchmark interest rates in 2015. Yellen, in a speech at the University of Massachusetts, Amherst, said improvements in the US economy “will likely entail an initial increase in the federal funds rate […]

September 24, 2015 | By | Reply More
McDonald's hires White House, Kraft alums

McDonald's hires White House, Kraft alums

LOS ANGELES: McDonald’s Corp is beefing up its ranks with political and food company alumni as it works to turn around lackluster sales and recreate the fast-food chain as a “modern, progressive burger company.” The moves come as McDonald’s battles changing consumer tastes, intense competition and calls from consumer and public health groups to curb […]

September 24, 2015 | By | Reply More
VW to appoint new chief as emissions scandal spreads

VW to appoint new chief as emissions scandal spreads

FRANKFURT: Volkswagen readied on Thursday (Sep 24) to announce a new chief as the scandal over its rigged emissions tests showed no signs of slowing down, with the EU calling for national investigations and the US saying it was taking the scam’s alleged health implications “very seriously”. The auto giant is expected to name a […]

September 24, 2015 | By | Reply More
Traders boost bets on earlier Fed rate hike after Yellen remarks

Traders boost bets on earlier Fed rate hike after Yellen remarks

REUTERS: U.S. short-term interest-rate futures contracts fell on Thursday after Federal Reserve Chair Janet Yellen signaled the U.S. central bank is still on track for a rate hike this year, prompting traders to adjust their bets. Fed funds futures contracts now show that traders are boosting bets the Fed will start raising rates in January […]

September 24, 2015 | By | Reply More
RHB delays $575m rights issue after Aabar cap

RHB delays $575m rights issue after Aabar cap

September 25, 2015 KUALA LUMPUR: RHB Capital Bhd, Malaysia’s fourth largest bank by assets, has postponed a 2.5 billion ringgit ($575 million) rights issue by almost two months, it said in a stock exchange filing on Wednesday. The delay comes after the central bank’s order to limit Aabar Investment PJS’s subscription option to only 15 […]

September 24, 2015 | By | Reply More
US hosts meeting next week in bid to wrap up Pacific trade pact

US hosts meeting next week in bid to wrap up Pacific trade pact

WASHINGTON: The United States has called ministers from the 12 nations negotiating a Pacific trade deal for a meeting Sept. 30 to Oct. 1 in a bid to finish the pact, a key part of the US administration’s engagement with Asia. The Trans-Pacific Partnership (TPP) seeks to cut trade barriers and set common standards for […]

September 24, 2015 | By | Reply More
Japan Tobacco in talks to buy Reynolds American assets: Bloomberg

Japan Tobacco in talks to buy Reynolds American assets: Bloomberg

REUTERS: Japan Tobacco Inc is in advanced talks to buy assets worth about US$5 billion from Reynolds American Inc , including some of the Natural American Spirit tobacco brand, Bloomberg reported on Thursday. Reynolds American declined to comment while Japan Tobacco could not be immediately reached for a comment outside regular business hours. The talks […]

September 24, 2015 | By | Reply More
Malaysia’s weak currency may power 1MDB cleanup

Malaysia’s weak currency may power 1MDB cleanup

Selling to a non-Malaysian bidder would be a less-complete sale and risk adding to the domestic political outcry. By Una Galani Malaysia’s weak currency may help the country clean up its scandal-hit fund. Despite political controversy, 1Malaysia Development Berhad is trying to sell its power assets. The declining ringgit could give foreign bidders an advantage. […]

September 24, 2015 | By | Reply More
GE agrees to export financing from UK, may create 1,000 jobs

GE agrees to export financing from UK, may create 1,000 jobs

REUTERS: General Electric Co has struck a deal for up to US$12 billion in financing from Britain’s export credit agency, possibly creating as many as 1,000 jobs in the country. The deal, announced on Thursday, could be seen as the latest sign of U.S. exporters’ unhappiness at the winding down of the U.S. Export-Import Bank, […]

September 24, 2015 | By | Reply More