Browsing: Business & Economy News

Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk. New York’s West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel…

South Africa remains the most important economy in the continent despite being overtaken by Nigeria as Africa’s biggest, South African economists said. The result of a long awaited rebasing of Africa’s most populous nation showed that Nigeria’s GDP…

Swiss cement group Holcim announced on Friday that it is in merger talks with building supplies giant Lafarge. Shares in the Swiss company surged by over 4 percent and Lafarge stock climbed by 6 percent late on Friday on rumours ahead of the announcement…

Europe’s main stock markets pushed higher on Friday as jobs data showed the recovery in the US economy is back in form after catching a winter cold. London’s FTSE 100 index climbed 0.56 percent compared with Thursday’s closing value to stand at 6,686…

Swiss pharmaceutical giant Novartis said on Thursday it was replacing the top executives at its Japanese unit over allegations the division hid serious potential side effects of leukaemia treatments from regulators. David Epstein, the head of the firm…

The S&P 500 Wednesday rose to a new high, but the Dow Jones Industrial Average fell just short of a record on another good day for stocks. Positive sentiment lifted the S&P 500 by 5.38 (0.29 percent) to 1,890.90, the second record close in a row. The…

The S&P 500 Tuesday closed at a new record as US stocks rallied following solid economic data and investor relief over US Federal Reserve policy. The S&P 500 jumped 13.18 (0.70 percent) to 1,885.52, its first record close since March 7. The Dow Jones…

US Senate investigators have accused heavy equipment giant Caterpillar of hiding $8 billion in profits offshore in Switzerland to avoid US taxes. In a report released late Monday, investigators said the company took advantage of a special corporate…

Greece will receive 6.3 billion euros ($8.7 billion) from its pending EU bailout fund at the end of April, Eurogroup chief Jeroen Dijsselbloem said on Tuesday. “A first tranche of 6.3 billion euros at the end of April will allow Greece to meet its debt…

Download image Marriott Becomes Largest Hotel Company in Africa   BETHESDA, Md. and CAPE TOWN, South Africa, April 1, 2014 /PRNewswire/ — Marriott International, Inc. (NASDAQ: MAR) today became the largest hotel company in Africa according to published…

British pharmaceutical giant GlaxoSmithKline on Monday announced a five-year investment programme for sub-Saharan Africa to fuel the company’s growth and to serve an area with “pressing health needs”. GSK will invest up to £130 million ($216 million…

Britain’s energy regulator will refer the “big six” suppliers for investigation by the competition watchdog under plans announced Thursday which could see the major industry players broken up. Ofgem said the move would reassure consumers amid mounting…

British consumers increased retail spending by 1.7 percent in February from the level in January when they fell more than first thought because of bad weather, official data showed on Thursday. Retail sales, an important indicator of household confidence…

London equities fell at the start of trading on Thursday following losses on Wall Street as traders remain on edge over the Crimea crisis. The benchmark FTSE 100 index dropped 0.44 percent to 6,576.05 points in early deals compared with Wednesday’s…

US stocks Tuesday finished higher as biotechnology companies and other high-tech equities steadied following a two-day skid. The Dow Jones Industrial Average gained 91.19 (0.56 percent) to 16,367.88. The broad-based S&P 500 rose 8.18 (0.44 percent)…

Brazil must convince markets that it can grow its economy while also slash spending and curtail inflation, analysts said after the country’s credit rating sunk to near junk status. The Central Bank said Brazil would respond “robustly” to global economic…

The one-time star electric carmaker Fisker Automotive said Monday it sold “substantially all” of its assets to the Chinese auto parts group Wanxiang for $150 million. The news came after last year’s bankruptcy filing by Fisker, whose sleek, sporty electric…

Oil prices diverged Monday as dealers digested news that Chinese manufacturing activity shrank in March to an eight-month low, stoking demand concerns in the world’s biggest energy consuming nation. In late afternoon deals, Brent North Sea crude for…

London shares ended slightly lower on Monday, with mining stocks weighing on the benchmark FTSE index after fresh data provided further evidence of a cooling Chinese economy. The FTSE closed 36.78 points — or 0.56 percent — down at 6,520.39 points…

Chinese manufacturing activity contracted in March to its weakest rate in eight months, data showed Monday, the latest indication of slowing growth in the world’s number two economy. The data is the latest in a string of weak indicators out of Beijing…