Business

Self-driving cars in a fast lane: Fiat Chrysler chief

DETROIT , United States (AFP) — Self-driving cars could hit roads within five years, the head of Fiat Chrysler Automobiles said Friday, days after the company announced an alliance with Google parent Alphabet. Chief executive Sergio Marchionne declined to disclose financial details of the partnership or a timetable for building minivans that will expand the Internet company’s test fleet of autonomous vehicles. “It’s not sort of ‘pie-in-the-sky,’ the thing is real and it’s coming,” Marchionne […]

Continue Reading →

EU considers Philippines good investment destination

QUEZON City, Philippines – The European Union continues consider the Philippines as a good investment. destination. During the celebration of the EU delegations 25th anniversary in the Philippines, Ambassador Franz Jessen, head of the EU delegation, discussed the Philippines’ status as EU’s investment destination as well as giving an update to the EU’s development project in Mindanao. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Aimee Mendoza and Uploaded by Vince Alvin […]

Continue Reading →

EU won’t sacrifice food safety for US trade deal: German minister

BERLIN, Germany (AFP) – The EU won’t sacrifice its high food safety standards for better US auto market access in a transatlantic trade deal being negotiated, a German minister said Friday. The comments by Agriculture Minister Christian Schmidt were the latest criticism of the thorny negotiations toward sealing a wide-ranging pact that would create a free-trade zone covering 850 million people. Washington and Brussels want the Transatlantic Trade and Investment Partnership (TTIP) completed this year […]

Continue Reading →

US economic slowdown hits hiring in April

WASHINGTON, United States (AFP) – by Paul HANDLEY US employers cut back hiring in April in the wake of the economy’s sharp downturn, raising worries of a protracted slowdown in the world’s largest economy. Net new jobs fell unexpectedly to the lowest level in seven months, with just 160,000 additional jobs generated, over 40,000 less than economists predicted, the Labor Department reported Friday. That was still a strong enough pace to continue absorbing new entrants to […]

Continue Reading →

Seven banks to pay $324 million to settle suit alleging interest rate manipulation

  WASHINGTON, United States (AFP) – Seven big banks, including Bank of America, JP Morgan, Credit Suisse and Deutsche Bank, have agreed to pay a total of $324 million to settle a lawsuit accusing them of market manipulation of interest rates. The settlement Tuesday followed a federal judge’s ruling in March admitting the class action lawsuit brought by investors and pension funds against the banks. In all about 15 banks were named in the suit […]

Continue Reading →

Deutsche Bank targeted in Italian government bond probe

MILAN, Italy (AFP) – German banking giant Deutsche Bank is the target of a criminal probe into government bond market manipulation, the bank and plaintiffs said on Friday. Five former Deutsche Bank top managers are being investigated by a prosecutor in Trani, southern Italy, including its ex-chief executive Josef Ackermann, consumer associations Adusbef and Federconsumatori said after filing their legal complaint. They accuse Deutsche Bank of selling “massive” amounts of Italian government debt between January […]

Continue Reading →

Tokyo stocks down as Takata sinks on new recalls, airbag deaths

TOKYO, Japan (AFP) — Tokyo stocks slipped Friday as traders returned from a three-day break, with Takata hammered by news US regulators had ordered it to expand recalls of faulty airbags blamed for at least 13 deaths globally. The US National Highway Traffic Safety Administration on Wednesday ordered the embattled company to recall between 35 and 40 million more airbags installed in US cars. That is on top of the 50 million already recalled globally, including […]

Continue Reading →

Asia markets cautious on growth woes but dollar, oil rally

HONG KONG, China (AFP) — Asian stock markets moved cautiously Thursday as worries over the global economy sap confidence but the dollar held the previous day’s gains and oil prices extended a rally. A disappointing set of readings and announcements from the world’s biggest economies over the past week have cast a pall over stock markets, reversing recent gains that were fuelled by hopes a recovery was taking hold. New York provided another negative lead, […]

Continue Reading →

Tesla accelerates to hit target of 500,000 cars yearly

by Glenn CHAPMAN SAN Francisco, United States (AFP) — Tesla is speeding the timeline for building half a million cars annually as it steps up production to meet growing demand for its electric vehicles. Hot demand for a new, more affordable Model 3 led the company to shave two years off its timeline for building a combined total of 500,000 vehicles, combining Model S, Model X, and Model 3, each year and make the new […]

Continue Reading →

Oil prices drift as US crude output falls

NEW YORK, United States (AFP) – Oil prices drifted sideways Wednesday with US futures slightly higher but London slipping amid news that US oil output fell by another 100,000 barrels a day last week. US crude and gasoline stockpiles also increased significantly — a bearish signal for the market — but US prices were supported by a major wildfire in Alberta, Canada, which has threatened production from the oil sands region. US benchmark WTI crude […]

Continue Reading →

U.S. confirms recall of 35 million-40 million Takata air bag inflators

(Reuters) The U.S. Transportation Department confirmed on Wednesday that automakers will recall another 35 million to 40 million U.S. air bag inflators installed by Takata Corp by 2019. The government confirmed figures reported by Reuters Tuesday about the expansion of what is already the largest ever U.S. auto safety recall. Previously, 14 automakers had recalled 24 million vehicles with 28.8 million inflators linked to at least 11 deaths.  

Continue Reading →

Adidas hooks struggling golf business into the rough

FRANKFURT , Germany (AFP) — Adidas said on Wednesday it would sell off its golf equipment brands, as it published “record” quarterly results showing a strong performance in the United States, a key market for the German sports giant. Following a “strategic review” of its golf business, Adidas said it would “actively seek a buyer” for some of its top equipment brands, including TaylorMade, Adams and Ashworth. The firm said it would focus on selling […]

Continue Reading →
1 … 271 272 273 274 275 … 324