Sunday, September 22, 2019
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Bangladesh sues RCBC in US court over $81-M heist
/ from February 1, 2019
DHAKA, Bangladesh -- The Central Bank of Bangladeshhas filed a lawsuit in a New York court against a Philippine bank, seeking damages and the return of $81 million stolen from its account with the Federal Reserve Bank of New York in 2016, an official said Friday.Abu Hena Mohd. Rajee Hassan, ...
Qatar will pull out of Opec amid tension with Saudi Arabia
/ from December 3, 2018
DUBAI, United Arab Emirates -- The tiny, energy-rich Arab nation of Qatar announced on Monday it would withdraw from Opec, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha.The surprise announcement from Qatar's minister ...
Toyota recalls over 1M vehicles to fix air bag problem
/ from November 2, 2018
DETROIT -- Toyota is recalling just over 1 million vehicles worldwide because the air bags could inflate without a crash or fail to work if there is one.The recall covers about 17,000 Scion xA vehicles in the US from 2004 through 2006. Also affected in Japan, Europe and elsewhere are ...
Cathay Pacific Air says data breach affected 9.4 million
/ from October 25, 2018
HONG KONG -- Hong Kong-based Cathay Pacific Airways said Thursday it has discovered unauthorized access to the personal data of 9.4 million passengers but had no evidence the leaked information had been misused.The breach was discovered during "ongoing security processes," the airline said in a statement.Hong Kong's privacy commissioner, Stephen ...
IMF downgrades outlook for world economy to 3.7 percent growth
/ from October 9, 2018
WASHINGTON -- The International Monetary Fund (IMF) is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade.The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was ...
More US corporate giants warn tariffs will mean price hikes
/ from September 27, 2018
DETROIT -- From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump's tariffs on US imports are raising their costs and prices.Jim Hackett, CEO of Ford, the second-largest US-based automaker, said Wednesday that Trump's taxes on imported steel and ...
Singapore fines Uber, Grab for 'anti-competitive' merger
/ from September 25, 2018
SINGAPORE -- Singapore's competition watchdog has fined ride-hailing giant Uber and its regional rival Grab 13 million Singapore dollars ($9.5 million) for a merger in Southeast Asia that the agency says has driven up fares and reduced competition in the market.The Competition and Consumer Commission of Singapore said Monday that ...
Google to invest $550 million in Alibaba rival JD.com
/ from June 18, 2018
SEOUL, South Korea -- Google said Monday, June 18, that it will invest $550 million in Alibaba's main rival JD.com as the US tech giant seeks to expand in fast-growing Asian e-commerce markets.Under the partnership, JD.com products will appear on Google's shopping service, giving JD.com access to consumers outside Asia, ...
Toyota investing $1 billion in ride-hailing company Grab
/ from June 13, 2018
TOKYO -- Japan's top automaker Toyota Motor Corp. is investing $1 billion in Grab, the leading ride-hailing company in Southeast Asia, the company said Wednesday.Toyota said it reached a deal with Grab Holdings to strengthen the existing partnership to grow in mobility services in the region.A Toyota executive will be ...
Asian shares advance as China reports recovery in exports
/ from May 8, 2018
SHARES were mostly higher in Asia on Tuesday, May 8, following an upbeat finish on Wall Street. Chinese benchmarks surged after Beijing reported that exports rebounded in April, jumping nearly 22 percent from a year earlier. Oil prices fell back from a three-year high.KEEPING SCORE: Japan's Nikkei 225 stock index ...