Dutch top bank ING said Friday it is moving dozens of trading jobs to London, defying expectations of an exodus of financial sector professionals from Britain because of Brexit.
An ING spokeswoman said 60 jobs would be moved from Amsterdam and Brussels to the City of London to join its corporate finance banking team of 650 people already working there, creating a single unit.Full Story
Japanese mobile carrier SoftBank said Friday it hoped to raise as much as $100 billion for a new technology investment fund it has set up in partnership with Saudi Arabia.
The company said it would invest about $25 billion in the SoftBank Vision Fund over the next five years, while the Saudi public investment fund will "consider investing in the fund and becoming the lead investment partner".Full Story
Samsung on Friday said the crisis over its exploding Note 7 smartphones would cost another $3 billion-plus in lost profit over the next two quarters, but hoped expanded sales of its other flagship handset would help cushion the impact.Full Story
Thailand's biggest foreign investor, Japan, said Friday it would offer support to its firms in the kingdom as concerns grow that the death of its revered monarch could derail the economy.
Japan has more than 4,000 companies operating in Thailand, dubbed the "Detroit of Southeast Asia" due to the huge number of auto manufacturing plants.Full Story
The European rejection of a "progressive" trade pact with Canada would send the wrong message to the world, Prime Minister Justin Trudeau warned Thursday.Full Story
French Finance Minister Michel Sapin said Thursday that U.S. banks had confirmed to him they would move some activities out of Brexit Britain to other European countries.Full Story
Apple's new iPhone 7 series gave Taiwan microchip giant Taiwan Semiconductor Manufacturing Co (TSMC) a boost Thursday as the firm announced profits were up by almost a third compared with last year.Full Story
The EU misspent 5.5 billion euros ($6 billion) in 2015, the bloc's financial watchdog said Thursday, warning that Brussels needed to regain the trust of European citizens shaken by Brexit and other crises.
Badly spent funds went on paying overcharged personnel costs for developing cloud computing services, it said.Full Story
Britain's stock market scored a record high Tuesday as share prices were boosted by the weak pound, which lifts exporters, and a recent bounce in oil prices.Full Story
Egypt has invited tenders to meet its refined oil products needs for October after Saudi Aramco halted the expected delivery of 700,000 tonnes for this month, the petroleum ministry said on Tuesday.
The move by the Saudi oil giant was a surprise as Riyadh has been one of the main regional backers of President Abdel Fattah al-Sisi and had agreed to finance Egyptian imports from Aramco for five years in a $23 billion deal reached in April.Full Story