Business
Latest stories
Royal Bank of Scotland Slumps into Second-Quarter Loss

Britain's state-rescued Royal Bank of Scotland tumbled into the red in the second quarter, after taking a large hit on litigation and conduct costs, it said Friday.

RBS made a net loss of £1.077 billion ($1.426 billion, 1.280 billion euros) in the three months to June 30, it said in a results statement. That contrasted with a profit after taxation of £280 million a year earlier.

W140 Full Story
Amid Criticism, World Bank Adopts New Social, Environmental Framework

The World Bank on Thursday adopted a new set of policies aimed at preventing its projects from harming people and the environment.

W140 Full Story
Shifting from Russia, Ukraine Strikes U.S. Nuclear Fuel Deal

Ukraine said Thursday it had reached an agreement with the U.S.-based electric giant Westinghouse to build a nuclear fuel production unit that would help reduce its reliance on Russia.

W140 Full Story
Euro 2016 Boots Adidas Sales Higher

A year of high-profile sports sponsorship has so far paid off for Adidas, with sales at its core brand up 25 percent thanks to events including the Euro 2016 football tournament.

W140 Full Story
Oil Prices Diverge on Mixed U.S. Data

Oil prices diverged in Asia on Thursday following a mixed US stockpiles report while analysts warned of further losses as the global supply glut shows no sign of easing.

The Department of Energy said Wednesday that commercial US crude supplies rose 0.3 percent last week, but gasoline inventories and domestic crude production dipped.

W140 Full Story
China's Hainan Airlines Buys Stake in Brazil's Azul

Chinese carrier Hainan Airlines has completed a $450-million purchase of nearly a quarter stake in Brazil's third largest airline Azul, according to a statement issued Thursday, as its parent HNA embarks on an overseas investment binge.

W140 Full Story
UK Recession More Likely as Services Sector Shrinks

Activity in Britain's crucial services sector sank in July following the vote to leave the EU, a survey by the research Markit group showed Wednesday, making a recession more likely.

W140 Full Story
Nigeria Restarts Amnesty Payments to Niger Delta ex-Oil Rebels

Nigeria has resumed the payment of allowances to former Niger delta rebels under an amnesty scheme, a spokesman said Wednesday, after low global crude prices plunged the oil-rich country into a financial crisis.

"The payment of allowances is ongoing. Before now, there were some logistics issues, which we have addressed," program spokesman Owei Lakemfa told AFP.

W140 Full Story
Bitcoin Tanks after Hong Kong Exchange 'Hacked'

A major Hong Kong-based Bitcoin exchange has suspended trading after $65 million in the virtual unit was reportedly stolen by hackers -- sending the digital currency plunging more than 20 percent.

Bitfinex said it had suspended all transactions after discovering that some users' Bitcoins had been taken.

W140 Full Story
Saudi Vows 'Urgent' Action for Stranded Indian Workers

Saudi Arabia has promised "urgent" action to resolve the plight of some 2,500 Indian workers stranded without money in the kingdom after a plunge in oil prices sparked construction layoffs.

Labor Minister Mufarrej al-Haqbani issued orders to allow the Indian workers "to immediately transfer their kafala (sponsorship) and renew their residencies," the Okaz daily reported on Wednesday.

W140 Full Story