World Business News

Warning UK car industry under threat without help

An industry veteran says the UK needs to follow the US and EU in helping with the shift to electric cars.

Source: BBC News - Business | 31 Mar 2023 | 12:36 am(NZT)

Bankers convicted of helping Putin's friend

A cellist who is godfather to the Russian leader's daughter deposited huge sums in Swiss accounts.

Source: BBC News - Business | 30 Mar 2023 | 11:34 pm(NZT)

New UK plan to reach net zero goal faces criticism

The government drew up a new plan after the old one was not detailed enough on how to meet climate targets.

Source: BBC News - Business | 30 Mar 2023 | 11:30 pm(NZT)

Starbucks' Howard Schultz denies chain is against unions

Democrats called the denials by former Starbucks chief Howard Schultz "not ...believable".

Source: BBC News - Business | 30 Mar 2023 | 10:40 pm(NZT)

State pension age rise to 68 will not be brought forward yet

The government is set to announce it will not yet bring forward the date for the pension age rise to 68.

Source: BBC News - Business | 30 Mar 2023 | 10:35 pm(NZT)

Wirecard scrambles to find missing $2.1 billion as loan crunch looms

Wirecard's auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm warned the delay could cause billions in loans to be called in as early as Friday.

Source: Reuters: Business News | 19 Jun 2020 | 4:17 am(NZT)

Coronavirus raises stakes as auto unions ready for a fight

The coronavirus crisis has forced carmakers to speed up layoffs that must be matched with hefty payouts and deft negotiation to retain the support of powerful trade unions vital if Europe's auto industry is to manage a shift to low-emission vehicles.

Source: Reuters: Business News | 19 Jun 2020 | 4:17 am(NZT)

Wirecard investor DWS says has sold down position, considering legal action

Asset manager DWS, the fund management arm of Deutsche Bank, said it has further sold down its position in embattled German technology company Wirecard and was considering legal action.

Source: Reuters: Business News | 19 Jun 2020 | 4:17 am(NZT)

U.S. gasoline demand recovery falters as refiners ramp up output

A recovery in demand for gasoline in the United States, the world's largest market for the motor fuel, hit a plateau last week as coronavirus cases surged in some states, undercutting refiners' efforts to ramp up low fuel production.

Source: Reuters: Business News | 19 Jun 2020 | 4:10 am(NZT)

Oil edges up on OPEC output cut compliance; pandemic still weighs

Oil prices rose slightly Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.

Source: Reuters: Business News | 19 Jun 2020 | 4:05 am(NZT)

F.C.C. Chairman Recommends Approval of $26 Billion T-Mobile-Sprint Merger

Ajit Pai said the companies had won his support by making what he called “significant commitments” to expand rural broadband service, build a robust 5G network and sell off Boost Mobile.

Source: NYT > Business | 21 May 2019 | 2:19 am(NZT)

Google Restricts Huawei’s Access to Android After Trump Order

The move could hamstring the Chinese tech giant if it prevents the firm’s customers from getting the latest versions of services such as Maps and Gmail.

Source: NYT > Business | 21 May 2019 | 1:50 am(NZT)

‘They Were Conned’: How Reckless Loans Devastated a Generation of Taxi Drivers

Thousands of immigrants who were chasing the dream of owning a New York taxi were trapped in reckless loans by bankers who made huge profits, The Times found.

Source: NYT > Business | 21 May 2019 | 1:19 am(NZT)

As Thousands of Taxi Drivers Were Trapped in Loans, Top Officials Counted the Money

The government profited and looked away as thousands of immigrant taxi drivers in New York were ravaged by exploitative loans.

Source: NYT > Business | 21 May 2019 | 1:19 am(NZT)

Mediator: Kissing Babies, Loving Scrapple, Fighting Viral Hoaxes: ’20 Race’s New Routine

When it comes to disinformation, all signs suggest the 2020 presidential campaign will make 2016 look like a mere test run, our columnist writes.

Source: NYT > Business | 21 May 2019 | 12:37 am(NZT)

British tech firm Dyson to invest 2 billion pounds in electric car

( - British technology firm Dyson announces plans to invest 2 billion pounds (2.6 billion dollars) to develop a battery powered electric car to be marketed from 2020.

Source: China Post Online - Taiwan Business,World Business | 27 Sep 2017 | 7:33 pm(NZT)

Alibaba Pictures first half revenue soar on back of online promotion and distribution business

Alibaba Pictures Group, the entertainment subsidiary of e-commerce titan Alibaba Group Holding, recorded a 313 per cent year on year jump in revenue for the six months ended June 30 amid aggressive moves to build its infrastructure for the mainland Chinese film industry. “Having laid the foundation for its core business segments over the last two years, the group is expected to advance to a new phase of development,” said Alibaba Pictures chairman Yu Yongfu in a regulatory filing...

Source: South China Morning Post - Business feed | 31 Aug 2017 | 6:00 am(NZT)

Mengniu Dairy’s profits first-half rise 4.7 per cent

China Mengniu Dairy, the country’s second largest dairy, announced that its profits for the first half of the year increased by 4.7 per cent from the same period last year, in line with analysts’ expectations. Mengniu reported profits of 1.13 billion yuan for the six months to the end of June, up from 1.08 billion in the first half of 2016. The profit came primarily from Mengniu’s core activities, liquid milk and ice cream products, which helped compensate for a loss at its...

Source: South China Morning Post - Business feed | 31 Aug 2017 | 3:31 am(NZT)

China Construction Bank profits up 3.69 per cent

China Construction Bank announced late on Wednesday that its profits rose by 3.69 per cent, a performance in line with analysts’ expectations. The bank, China’s second most profitable, reported net profits of 138.3 billion yuan, up from 133.4 billion yuan last year. The profit growth was broad based, with net interest income up 3.25 per cent, net fee and commission income up 1.32 per cent, and some improvements in costs. In its statement to the Hong Kong Stock Exchange, the bank...

Source: South China Morning Post - Business feed | 31 Aug 2017 | 3:13 am(NZT)

NetDragon returns to profit on higher online games revenue

NetDragon Websoft, the mainland Chinese online gaming giant, returned to profit in the first half of this year on the back of the Hong Kong-listed company’s record high revenue posted in the quarter ended June 30. “Our games business brought robust growth as we executed our strategy to leverage our successful intellectual property,” said Liu Dejian, the founder and chairman of NetDragon, in a statement on Wednesday. NetDragon is the latest mainland internet company to record...

Source: South China Morning Post - Business feed | 31 Aug 2017 | 1:01 am(NZT) offers US$15m prize to find top drone-delivery experts and solutions

Online retail giant has put 100 million yuan (US$15.1 million) up for offer, to winners of a competition to find the best solutions to introduce widespread drone delivery services in China. The company’s current drone deliveries are limited to a number of rural areas, but the Amazon-like Chinese retailer said it is now looking for the world’s top drone talent to design and create a more sophisticated service. The novel logistics initiative was launched by officials in...

Source: South China Morning Post - Business feed | 31 Aug 2017 | 1:00 am(NZT)

Mazda CX-5: Sleeker Styling, Sharper Steering ... And A Hit With The Ladies

Mazda’s most important crossover gets a stylish new chrome grille, sleeker headlights and slimmer taillights, a fresh new interior, sharper steering and a more vivid interpretation of the company’s signature ‘soul red’ paint.

Source: Forbes Real Time | 23 Feb 2017 | 10:04 pm(NZT)

Carlos Ghosn Hands Over The Rudder, Becomes Admired Admiral

Saikawa in as Nissan CEO, Ghosn not out as chairman of Nissan, and a few more

Source: Forbes Real Time | 23 Feb 2017 | 10:00 pm(NZT)

Why The China Country Manager Gets No Love From Its Head Office

Head offices can be fickle regarding China. They can begin with bold public pronouncements about their commitment to the market. But if numbers soften, the head office softens as well. How can we anticipate and counter this China disillusion and ensure China country heads get the love they need?

Source: Forbes Real Time | 23 Feb 2017 | 9:55 pm(NZT)

Microsoft Puts 'Teams' Chat-Based Workspace Inside Office 365

Collaboration is becoming more complex, more connected and (some might argue) more convoluted. What collaboration is definitely becoming is more custom-tuned and 'composable'. Microsoft is currently in preview with Teams. This is a chat-based workspace designed to operate inside Office 365.

Source: Forbes Real Time | 23 Feb 2017 | 9:31 pm(NZT)

Why Asia's Entrepreneurial Space Sector Deserves Its Very Own Spotlight

How Asian governments advance humanity’s infrastructure in outer space demands attention as never before.

Source: Forbes Real Time | 23 Feb 2017 | 8:44 pm(NZT)

Lockheed F-35 jet cost could drop 16 percent: Pentagon official

Lockheed Martin F-35 fighter jet is seen in its hanger at Patuxent River Naval Air Station in MarylandThe cost of Lockheed Martin Corp's stealthy F-35 jet could fall 16 percent to around $80 million in future purchases, according to the Department of Defense's head of the program. Lieutenant General Chris Bogdan, who runs the F-35 program for the Pentagon, gave his new estimate for the future cost of the jet while speaking to the U.S House of Representatives at a Capitol Hill hearing on Thursday. President Donald Trump and other U.S. officials have criticized the Pentagon's most expensive program for delays and cost overruns, but the price per jet has steadily declined in recent years as production ramps up.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:27 am(NZT)

Snap lowers valuation expectations in highly awaited IPO

A Snapchat sign hangs on the facade of the NYSE in New York CitySnap Inc, owner of the popular messaging app Snapchat, on Thursday set a lower-than-expected valuation for itself amid mounting investor concerns over the company's still unproven business model, slowing metrics and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion and $25 billion but fell short by targeting a valuation between $19.5 billion and $22.3 billion ahead of its marketing road show, due to start on Monday in London.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:05 am(NZT)

GM tries to reassure UK, Germany over Peugeot-Opel talks

General Motors CEO Mary Barra presents the new Opel Astra during the media day at the Frankfurt Motor Show (IAA) in FrankfurtBy Pamela Barbaglia and Ilona Wissenbach LONDON/FRANKFURT (Reuters) - General Motors has played down the possibility of large-scale factory closures in Germany and Britain following any deal to sell its European brands to Peugeot maker PSA Group , according to officials in both countries. News of the talks between the two automakers earlier this week sparked particular concern in Germany and Britain, where Opel and Vauxhall employ thousands of workers.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:02 am(NZT)

Wall Street record rally falters as banks, health stocks weigh

Traders work on the floor of the NYSEThe six-day streak was sparked a week back by President Donald Trump's vow of a 'phenomenal' tax announcement, and fueled by optimism that his plans for corporate deregulation will expand the economy.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 5:28 am(NZT)

U.S. housing starts fall; building permits hit one-year high

A house under construction has a sold sign out front in the Candelas development in the northwest Denver suburb of ArvadaU.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track. Factory activity in the mid-Atlantic region vaulted to a 33-year high in February and the number of new applications for unemployment benefits was less than expected last week. "There is not much to complain about the economy as housing and manufacturing are improving and the labor market remains tight.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 5:26 am(NZT)

Will the next iPhone charge wirelessly?

The days of plugging in an iPhone to charge won't last forever.

Source: World business news - | 14 Feb 2017 | 8:42 am(NZT)

How 'America First' could turn into to 'India First'

Nandan Nilekani, co-founder of one of India's biggest outsourcing companies, says an H-1B visa crackdown would ultimately hurt the U.S.

Source: World business news - | 14 Feb 2017 | 8:20 am(NZT)

Mexico ready to retaliate by hurting US farmers

Mexican Senator Armando Rios Piter told CNN that he plans to introduce a bill this week that would stop Mexican purchases of American corn.

Source: World business news - | 14 Feb 2017 | 6:37 am(NZT)

Stocks hit record again. Is Trump the reason?

The market is at all-time highs and many say Trump is the reason. But stocks were rallying when investors thought Hillary Clinton would win. Janet Yellen and the Fed may deserve more of the credit for the market's move.

Source: World business news - | 14 Feb 2017 | 6:35 am(NZT)

Apple stock nears record high

Apple stock is less than $1 away from its all-time high amid renewed optimism for the iPhone.

Source: World business news - | 14 Feb 2017 | 6:24 am(NZT)

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