Business
Latest stories
Etihad Airways Acquires 3% Stake in Aer Lingus

Etihad Airways, the United Arab Emirates carrier said Tuesday it has acquired a 2.987 per cent stake in Irish airline Aer Lingus.

Etihad said the "purchase reflected its desire to forge a commercial partnership with the Irish national carrier," adding that "a possible partnership could produce significant commercial benefits for both airlines."

W140 Full Story
Japanese Mitsui buys $2 bln stake in Australia Woodside Petroleum

Australia's Woodside Petroleum on Tuesday said it had sold a minority stake in its proposed Browse gas export project to a Japanese consortium for U.S. $2 billion.

Woodside is the major equity holder and operator of the Browse LNG Development in Western Australia and offloaded a 14.7 percent interest to Japan Australia LNG, a joint venture of the Mitsui and Mitsubishi trading houses.

W140 Full Story
Coke Denies Takeover Talks with Monster Beverage

Coca-Cola, the world's largest beverage company, on Monday denied media reports it was in talks to buy energy-drink giant Monster Beverage.

"At this time, we are not in discussions to acquire the Monster Beverage Corporation, Coke said in a statement.

W140 Full Story
Air Lease Buys 8 Boeing 787s for Vietnam Airlines

U.S. aircraft leasing firm Air Lease said Monday it has bought eight new Boeing 787-9 Dreamliner aircraft to lease to Vietnam Airlines.

Financial details of the purchase were not revealed. The catalog value of the planes is $1.8 billion.

W140 Full Story
Adidas Warns of Irregularities in Indian Business

German sportswear maker Adidas reported Monday a strong rise in first-quarter profits but warned full-year earnings would be hit by the discovery of irregularities in its Indian business.

Adidas reported a net profit of 289 million euros ($383 million) in the period January to March, up 38 percent over the year-earlier figure.

W140 Full Story
WTC is Back on Top in NYC

One World Trade Center, the giant monolith being built to replace the twin towers destroyed in the Sept. 11 attacks, will lay claim to the title of New York City's tallest skyscraper on Monday. Workers will erect steel columns that will make its unfinished skeleton a little over 1,250 feet high, just enough to peak over the roof of the observation deck on the Empire State Building.

The milestone is a preliminary one. Workers are still adding floors to the so-called "Freedom Tower" and it isn't expected to reach its full height for at least another year, at which point it is likely to be declared the tallest building in the U.S., and third tallest in the world.

W140 Full Story
Britain’s Richest Get Richer

Britain's richest people reached record levels of wealth in 2011 even as the country was slipping back towards recession, according to the annual Sunday Times Rich List.

The combined fortunes of the 1,000 richest people in Britain rose by 4.7 percent to £414.26 billion ($674 billion, 508 billion euros) despite high unemployment and harsh government cuts, beating the previous record of £412.85 billion set in 2008.

W140 Full Story
Jordan Sees Egypt Resuming Gas Supplies Early May

Egypt will resume supplying gas to Jordan from early May after the flow was disrupted by repeated attacks on its pipeline, a Jordanian government official said on Saturday.

Egypt informed Jordan that it would "resume gas deliveries of 100 million cubic metres per day to the kingdom early next month," the unidentified official was quoted as saying by the official Petra news agency.

W140 Full Story
IMF Agrees $141 Million New Loan for Kosovo

The International Monetary Fund approved a $140.8 million (106.6 million euro) loan for Kosovo Friday, after cutting off funding last year in a dispute over pay raises for civil servants.

The new 20 month stand-by arrangement will back a program to ease the country's fiscal pressures and help the government shore up its cash buffer.

W140 Full Story
India's New 'Motor City' Rises From the Dust

The first sight of India's newest "Motor City" is a collection of giant blue-and-grey structures, windowless boxes in corporate colors that are the hallmark of modern manufacturing.

The warehouses and machining plants, walled in on an enormous site of more than 1,000 acres (400 hectares), are owned by Tata Motors which moved to the western state of Gujarat in 2008 to start producing its Nano small car.

W140 Full Story