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World News

  • China April services sector expansion slows, employment rebounds

    China April services sector expansion slows, employment rebounds  

    The Caixin/Markit services purchasing managers' index (PMI) for April dropped to 51.8 from 52.2 in March, as new business increased at the fastest pace since January while business expectations remained unchanged.

    05 May 2016, 12.25 pm  |  Source: Reuters

  • Google to build 100 self-driving cars with Fiat Chrysler

    Google to build 100 self-driving cars with Fiat Chrysler  

    According to USA Today, the collaboration is a first when Google will share the technology with a major automaker.

    05 May 2016, 12.20 pm  |  Source: NEWS18.com

  • YouTube plans Internet television service: report

    YouTube plans Internet television service: report  

    YouTube has made a priority of creating the service, called Unplugged, which could debut as early as next year, according to the report, which cited unnamed people close to the project.

    05 May 2016, 12.08 pm  |  Source: PTI

  • Jeffrey Gundlach: Donald Trump will win

    Jeffrey Gundlach: Donald Trump will win  

    Bond guru Jeff Gundlach trusts his instincts when it comes to his investments. Now he has a prediction about the presidential race: Donald Trump will win.

    05 May 2016, 9.50 am  |  Source: CNBC

  • Hong Kong cracks down on illegal money flows from China trade

    Hong Kong cracks down on illegal money flows from China trade  

    Hong Kong's central bank told Reuters it has beefed up its scrutiny of banks' trade financing operations, while customs officials are doing more random checks on shipments crossing border posts and conducting raids on warehouses t...

    05 May 2016, 8.21 am  |  Source: Reuters

  • China to invest $11.9 bn in aviation infra in 2016: Xinhua

    China to invest $11.9 bn in aviation infra in 2016: Xinhua  

    The Civil Aviation Administration of China (CAAC) said the investment, which will focus on airports, will initially lead to 11 key construction projects and 52 aviation-related upgrades to existing facilities, Xinhua reported.

    05 May 2016, 8.20 am  |  Source: Reuters

  • Tesla puts pedal to the metal, 500,000 cars planned in 2018

    Tesla puts pedal to the metal, 500,000 cars planned in 2018  

    The company, which three months ago aimed to make a net profit in the final quarter of this year, gave no profit target on Wednesday and said capital spending would rise about 50 percent more than previously forecast this year, to...

    05 May 2016, 8.20 am  |  Source: Reuters

  • Australia clears AB Inbev`s $100 billion SABMiller buyout plan

    Australia clears AB Inbev's $100 billion SABMiller buyout plan  

    "The ACCC considers that the proposed acquisition is unlikely to result in higher beer prices for consumers," Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said in a statement.

    05 May 2016, 8.20 am  |  Source: Reuters

  • China`s car buyers seek more room, comfort; boost for `minivans`

    China's car buyers seek more room, comfort; boost for 'minivans'  

    Shifts towards electric cars in many cities, potential breakthroughs in autonomous, self-driving technology and lifestyle changes with the relaxation of China's one-child policy pose challenges for product planners in the world's ...

    05 May 2016, 8.17 am  |  Source: Reuters

  • US slaps preliminary duties on certain Indian steel pipes

    US slaps preliminary duties on certain Indian steel pipes  

    The department said it found the products were being dumped at margins of up to 18.9 percent, and that it would tell US customs officials to collect a 16.9 percent cash deposit as the trade case moves forward.

    05 May 2016, 8.12 am  |  Source: Reuters

  • 500-euro bill, beloved by money launderers, is discontinued

    500-euro bill, beloved by money launderers, is discontinued  

    The bills, the biggest denomination for the euro, are rarely seen in day-to-day circulation, and some merchants don't take them.

    05 May 2016, 8.04 am  |  Source: PTI

  • Euro zone businesses trudged into the second quarter: PMI

    Euro zone businesses trudged into the second quarter: PMI  

    "The final PMI data confirm the earlier flash estimate that the euro zone economy grew at a steady but unspectacular annual rate of 1.5 percent at the start of the second quarter," said Chris Williamson, chief economist at Markit.

    04 May 2016, 2.33 pm  |  Source: Reuters

  • Adidas seeks buyer for golf business to focus on shoes, clothing

    Adidas seeks buyer for golf business to focus on shoes, clothing  

    The German sportswear firm, which launched a review of its golf unit last August, said on Wednesday it had decided to focus on selling golf shoes and clothing under its main Adidas brand and enter into talks to sell the TaylorMade...

    04 May 2016, 2.08 pm  |  Source: Reuters

  • Rich and powerful warn robots are coming for your jobs

    Rich and powerful warn robots are coming for your jobs  

    At the Milken Institute's Global Conference in Beverly Hills, California, at least four panels so far have focussed on technology taking over markets to mining - and most importantly, jobs.

    04 May 2016, 1.57 pm  |  Source: Reuters

  • Seven banks to pay $324 million to settle suit

    Seven banks to pay $324 million to settle suit  

    The settlement yesterday followed a federal judge's ruling in March, admitting the class action lawsuit brought by investors and pension funds against the banks.

    04 May 2016, 1.22 pm  |  Source: PTI

  • Water scarcity will shrink economies by 2050: World Bank

    Water scarcity will shrink economies by 2050: World Bank  

    The Middle East could be hardest hit, with its gross domestic product slipping as much as 14 percent by 2050 unless measures are taken to reallocate water significantly, the Washington-based institution said in a report.

    04 May 2016, 11.00 am  |  Source: Reuters

  • Pfizer approaches Medivation about potential takeover: Sources

    Pfizer approaches Medivation about potential takeover: Sources  

    Pfizer's approach comes less than a week after Sanofi went public with its USD 52.50 per share cash offer, complaining that Medivation refused to engage. Medivation subsequently rejected the offer as too low. Its shares closed on ...

    04 May 2016, 9.30 am  |  Source: Reuters

  • Apple has been `the biggest wealth destroyer` for investors

    Apple has been 'the biggest wealth destroyer' for investors  

    The tech giant was "the biggest wealth destroyer" for market participants during the month, according to Openfolio, a social networking platform that compares more than 65,000 shared portfolios within its community.

    04 May 2016, 9.03 am  |  Source: CNBC

  • ECB may phase out 500-euro banknote to tame black money

    ECB may phase out 500-euro banknote to tame black money  

    The violet-coloured bill, the largest denomination banknote in the single currency area and physically also the bigger than the five other euro bills, is on the agenda of a meeting of the ECB's governing council, a bank spokesman ...

    04 May 2016, 8.48 am  |  Source: PTI

  • Nawaz Sharif vows to quit if proven guilty in Panama Papers case

    Nawaz Sharif vows to quit if proven guilty in Panama Papers case  

    Panama Papers, a massive leak of 11.5 million tax documents that reportedly exposed the secret offshore dealings of around 140 political figures globally, named three of Sharif's four children -- Maryam, Hasan and Hussain -- listi...

    04 May 2016, 8.18 am  |  Source: NEWS18.com

  • Brexit could `loom large` over June policy meeting: Lockhart

    Brexit could 'loom large' over June policy meeting: Lockhart  

    "Brexit could be a source of heightened global uncertainty," Lockhart said in a speech before the World Affairs Council of Jacksonville, Florida, adding it "has some potential to loom large as we approach the June meeting."

    04 May 2016, 8.03 am  |  Source: Reuters

  • Facebook CEO urges Brazilians to decry WhatsApp block

    Facebook CEO urges Brazilians to decry WhatsApp block  

    In a post in English on his Facebook page, the US billionaire and Facebook founder urged Brazilians to gather outside Congress in the capital Brasilia at 6 p.m. (2100 GMT) on Wednesday to rally in favour of legislation that would ...

    04 May 2016, 8.02 am  |  Source: Reuters

  • Takata to announce recall of 35-40m US airbag inflators: Sources

    Takata to announce recall of 35-40m US airbag inflators: Sources  

    The expanded recall will be phased in over several years and more than double what is already the largest and most complex auto safety recall in US history. The new recall will cover all frontal air bag inflators without a drying ...

    04 May 2016, 8.02 am  |  Source: Reuters

  • Google, Fiat Chrysler to partner on self-driving minivans

    Google, Fiat Chrysler to partner on self-driving minivans  

    The deal marks the first time that Google has worked directly with an automaker "to integrate its self-driving system, including its sensors and software, into a passenger vehicle," the companies said in a statement on Tuesday.

    04 May 2016, 8.02 am  |  Source: Reuters

  • Trump wins Indiana primary; becomes GOP presumptive nominee

    Trump wins Indiana primary; becomes GOP presumptive nominee  

    In his remarks, Trump described Cruz as a tough competitor and appreciated his decision to withdraw from the race.

    04 May 2016, 7.52 am  |  Source: PTI

  • Jobs, climate change critical to make Asia `vibrant`: Nakao

    Jobs, climate change critical to make Asia 'vibrant': Nakao  

    In the opening address at the 49th Annual Meeting of Asian Development Bank's (ADB) Board of Governors here, he expressed confidence that Asia-Pacific's long-term outlook is "strong", despite a slowdown in some economies this year...

    04 May 2016, 7.32 am  |  Source: PTI

  • Ted Cruz drops out of race;clears pathway for Donald Trump to WH

    Ted Cruz drops out of race;clears pathway for Donald Trump to WH  

    Ted Cruz, who was earlier engaged in a bitter and nasty war of words with Trump, announced his decision to drop out of the race even when the counting of votes were still going in Indiana yesterday.

    04 May 2016, 7.30 am  |  Source: PTI

  • EU Commission cuts euro zone GDP growth forecast

    EU Commission cuts euro zone GDP growth forecast  

    It now sees euro zone gross domestic product (GDP) in 2016 at 1.6 percent from a previous forecast of 1.7 percent growth. It also lowered its 2017 forecast to 1.8 percent from 1.9 percent.

    03 May 2016, 3.22 pm  |  Source: CNBC

  • Emerging market challenges unlikely to be overcome quickly: ECB

    Emerging market challenges unlikely to be overcome quickly: ECB  

    ECB President Mario Draghi has repeatedly cited subdued growth in emerging market as a drag on the euro area recovery and one of the reasons underpinning its ultra-easy policies.

    03 May 2016, 2.08 pm  |  Source: Reuters

  • Philips says to spin off lighting branch in `historic` IPO

    Philips says to spin off lighting branch in 'historic' IPO  

    "The offering would consist of a sale of existing shares only held by Royal Philips, the current sole shareholder of Philips Lighting. The offering and listing, and their timing, are subject to, among other factors, market conditi...

    03 May 2016, 1.56 pm  |  Source: PTI

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