Latest stories
Starbucks to Buy up Japan Unit for $900 mn

Starbucks will take full ownership of its Japanese operations for more than $900 million, a move it said was aimed at further tapping its second-largest market.

The Seattle-based company said it would buy a 60.5 percent stake that it does not already own as part of a two-step tender process expected to be completed by the first half of 2015.

W140 Full Story
French PM Says Pilot Strike 'Real Danger' for Air France

French Prime Minister Manuel Valls warned of a "real danger" for Air France as a pilot strike that has grounded more than half its fleet deepened Tuesday after talks hit an impasse.

The strike over plans to expand the company's budget airline Transavia in Europe entered its ninth day at a cost of 20 million euros ($25.7 million) daily.

W140 Full Story
Pay Up or Return Money, Argentina Tells Debt Row Banks

Argentina told Citibank and Bank of New York Mellon on Monday to either execute its debt payments or give it back money frozen in its dispute with two creditors.

A U.S. federal judge has ordered the banks not to transfer payments on the debt Argentina restructured after its 2001 economic crisis until the country settles a $1.3-billion dispute with the two "holdout" creditors, hedge funds NML Capital and Aurelius Capital Management.

W140 Full Story
Sri Lanka Restricts 6.5% Deposit Rate to Boost Lending

Sri Lanka on Tuesday unveiled tough new restrictions on deposits as it looks to encourage commercial banks to boost lending and help sustain the country's healthy economic growth.

The Central Bank of Sri Lanka's monetary board said after its monthly review it would keep its key repurchase rate at 6.5 percent to lenders, but slashed it to 5.0 percent for any more than three deposits a month.

W140 Full Story
HSBC: China Manufacturing Gauge Picks Up in September

China's manufacturing sector saw a surprise pick-up in September, a closely watched survey showed Tuesday, but economists warned a slowdown in the key property sector was an ongoing risk to growth.

HSBC said its preliminary purchasing managers index (PMI) advanced to a two-month high of 50.5, higher than a final reading of 50.2 in August and providing some respite after a string of weak data pointing to a slowdown in world's second-largest economy.

W140 Full Story
Oil Prices Up after Upbeat Chinese Data, Syria Bombing

Oil prices rose in Asia Tuesday in response to better-than-expected Chinese manufacturing data and after the United States said it had led bombing raids against jihadists in crude producer Syria, analysts said.

U.S. benchmark West Texas Intermediate for November delivery rose 40 cents to $91.27 while Brent crude for November also gained 30 cents to $97.27 in afternoon trade.

W140 Full Story
Oil Prices Drop on Strong Dollar

Global oil prices fell Monday on the back of the strong dollar and plentiful supplies, on the eve of key manufacturing data from China, the world's top energy consumer.

Brent North Sea crude for delivery in November slid 72 cents to stand at $97.67 a barrel in London deals.

W140 Full Story
OECD Backs Japan Tax Hike, More Easy Money

Japan should raise sales taxes again next year despite wobbles in the economy caused by the first rise, and the central bank should cushion the blow with more easy money, the OECD said Monday.

The Bank of Japan must do more "beyond 2015" to support the world's number three economy, said Rintaro Tamaki, deputy secretary general of the Organisation for Economic Co-operation and Development (OECD).

W140 Full Story
Bosch in 3-bn-Euro Buyout of Siemens in Home Appliance Joint Venture

Bosch announced Monday it was buying out fellow German conglomerate Siemens from their home appliance joint venture for 3 billion euros ($3.9 billion).

Siemens said it was selling its 50 percent stake in BSH Bosch und Siemens Hausgerate GmbH to focus on its core businesses, including energy, and announced at the same time it was to acquire Dresser-Rand, the U.S. manufacturer of turbines and compressors.

W140 Full Story
Air France Suspends Low-Cost Plan in Bid to End Strike

French flag carrier Air France on Monday offered to freeze the expansion of its low-cost operation in a bid to end the longest strike at the airline since 1998.

As the strike entered its second week, management said it would halt the development of its leisure subsidiary Transavia until December, unions said, raising hopes of an end to the crisis.

W140 Full Story