Business News
Iran’s envoy to UK regrets British Airways decision to suspend Tehran flights
Iran’s top envoy to Britain said on Thursday a decision by British Airways to suspend flights to Tehran from September was regrettable.
Month: August 2018
Business News
Air France to end flights to Tehran in September on weak demand
The French arm of Franco-Dutch airlines group Air France KLM said Thursday it will stop its flights to Tehran in September for business reasons.
Business News
Bayer’s Monsanto sued by 8,000 plaintiffs on glyphosate
Bayer said the number of U.S. lawsuits brought against newly acquired Monsanto has risen to about 8,000 from 5,200 previously, after Monsanto was ordered to pay damages for not warning of alleged cancer risks of glyphosate-based weedkillers.
Business News
British Airways to suspend flights between London and Tehran
British Airways said on Thursday it is suspending flights between London and Tehran because they are not commercially viable.
Business News
L Brands slides on weaker demand for Pink lingerie
Shares of L Brands Inc hit their seven-year low on Thursday after the parent of Victoria’s Secret cut its full-year earnings forecast, blaming falling demand for its Pink line of lingerie.
Business News
Drop in U.S. jobless claims points to labor market strength
The number of Americans filing for unemployment benefits fell last week, a sign the labor market was holding firm despite tensions between the United States and its trading partners that have led to tit-for-tat tariffs.
Business News
No-deal Brexit will bring tangle of red tape, Britain warns companies
Britain on Thursday told companies trading with the European Union they would face a tangle of red tape, possible border delays and more costly credit card payments if the government fails to negotiate an exit deal before Britain leaves the bloc.
Business News
British businesses relieved at no-deal Brexit VAT tweak
British business welcomed a commitment from the government to change how import VAT has to be paid should Britain leave the European Union without a deal – a technical accounting tweak that should avert a cashflow “time bomb” for many companies.
Trading Ideas
Alibaba revenue beats, but investments prolong margin squeeze
Alibaba Group Holding Ltd (BABA.N), China’s biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits. The company said it had formed a holding company for local services and food delivery firms Ele.me and Koubei, for which it had received over $3 billion in new investment commitments, including from SoftBank Group Corp (9984.T) and Alibaba itself. Alibaba’s U.S.-listed shares rose about 4 percent in pre-market trade, as investors reacted positively to the better than expected revenue growth. …read more […]
Business News
Wall St. opens flat, with Jackson Hole meet in focus
U.S. stocks opened flat on Thursday as markets speculated on the future path of interest rate hikes and new tariffs took effect in the U.S.-China trade war.
Trading Ideas
South Africa blasts Trump over racially divisive tweet
South Africa’s government lashed out at President Donald Trump on Thursday after he tweeted that his administration would be looking into farm seizures and the “large scale killing of farmers” in the country. The government said Trump’s tweet was based on “false information” and reflected a “narrow perception which only seeks to divide our nation and reminds us of our colonial past.” It was meeting with the U.S. Embassy as it sought to clarify Trump’s remarks. South Africa is in the throes of a racially charged national debate over land reform, a lawful process that seeks to correct …read more […]
Business News
Australia bans China’s Huawei from 5G mobile network, angers Beijing
Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd [HWT.UL] from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse” to tilt the playing field against a Chinese firm.
Business News
Credit Suisse fires two after sexual assault investigation -FT
Credit Suisse Group AG has fired two male employees in London after uncovering new evidence during an investigation into a sexual assault case from 2010, the Financial Times reported on Thursday, citing a person familiar with the internal review, which was completed last week.
Business News
Saudi Arabia to apply for $12 billion loan after Aramco IPO stalls: FT
Saudi Arabia’s sovereign fund is set to borrow up to $12 billion from international banks after IPO plans for state energy group Saudi Aramco were put on hold, the Financial Times reported, citing sources.
Business News
Wall St. set to open flat, with Jackson Hole meet in focus
U.S. stock index futures struggled to move higher on Thursday as new tariffs took effect in the U.S.-China trade war and markets speculated on the future path of interest rate hikes.