International Business News | Business news headlines – Yahoo! Maktoob News

China firm forays into British yacht, hotel markets

Wed, 19 Jun 2013 12:32:08 +0300

Chinese conglomerate Wanda Group will invest nearly $1.6 billion to acquire a British yacht maker and build London's tallest residential towers, state media reported Wednesday.

Toxic radiation in groundwater at Fukushima: operator

Wed, 19 Jun 2013 12:11:16 +0300

Cancer-causing radioactive substances have been found in groundwater at the crippled Fukushima nuclear plant, its Japanese operator said on Wednesday, as it pledged to prevent it getting into the sea.

BoE split 6-3 against more QE at King's final meeting

Wed, 19 Jun 2013 11:53:24 +0300

LONDON (Reuters) - The Bank of England remained divided 6-3 against more asset purchases in June and watched with caution market reaction to signs the U.S. Federal Reserve might reduce stimulus. With the economy tentatively on the mend, Governor Mervyn King's final rate-setting meeting ended with no change to policy despite his calls for another 25 billion pounds of quantitative easing, minutes to the Bank's June 5-6 meeting showed on Wednesday. ...

New Eurofighter chief aims to make jet cheaper

Wed, 19 Jun 2013 11:49:01 +0300

PARIS (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS unit Airbus Military who became Eurofighter's chief executive in April, said the goal was to win at least 25 percent of 1,000 potential aircraft sales in the global market. ...

Reckless British bankers could face jail: commission

Wed, 19 Jun 2013 11:30:33 +0300

Bankers found guilty of reckless misconduct in Britain could end up in prison and be stripped of bonuses, under draconian proposals to clean up the City of London published on Wednesday.

World Bank warns global warming woes closing in

Wed, 19 Jun 2013 11:27:34 +0300

The World Bank on Wednesday warned that severe hardships from global warming could be felt within a generation, with a new study detailing devastating impacts in Africa and Asia.

Softbank closer to acquiring Sprint after Dish abandons bid for now

Wed, 19 Jun 2013 11:06:48 +0300

By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after winning support from a key shareholder by raising SoftBank's offer to $21.6 billion from $20.1 billion last week. ...

Asia business sentiment rises in second quarter, global growth risk still dominates

Wed, 19 Jun 2013 11:00:48 +0300

By Miyoung Kim SEOUL (Reuters) - Asia's top companies have become more optimistic about their business outlook with the retail and shipping industries rebounding sharply in the second quarter of 2013, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey shows. The Thomson Reuters/INSEAD Asia Business Sentiment Index climbed six points to 71 in June, its highest level in five quarters and the third consecutive quarterly rise. A reading above 50 indicates a generally positive outlook. ...

Leasing firm CIT orders 30 Boeing planes in $3bn deal

Wed, 19 Jun 2013 10:54:14 +0300

Boeing said on Wednesday that US plane leasing firm CIT Aerospace had ordered 30 of its new, medium-haul 737 MAX aircraft in a deal worth $3 billion (2.2 billion euros) at catalogue prices.

Internet balloons to benefit small business: Google

Wed, 19 Jun 2013 10:48:10 +0300

Google's plans to beam the Internet from giant balloons sent to the stratosphere could boost small businesses in rural parts of Asia by connecting them online, the company said on Wednesday.

Samoan airline introduces 'XL' class

Wed, 19 Jun 2013 09:49:23 +0300

A tiny Samoan airline says it will introduce an "XL" class for super-sized passengers, featuring extra-wide rows and special ramps to help them reach their seats.

Smithfield CEO could make about $46.6 million from Shuanghui deal

Wed, 19 Jun 2013 09:33:25 +0300

(Reuters) - Smithfield Foods Inc Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing showed. As per a filing made with the U.S. Securities and Exchange Commission (SEC) late on Tuesday, Pope would be eligible to receive about $28 million in cash and $18.6 million in equity. Robert Manly, Smithfield's chief financial officer, would also be eligible to receive about $22.8 million in potential merger-related payments, the filing showed. ...

China's Huawei launches world's slimmest smartphone

Wed, 19 Jun 2013 09:01:32 +0300

Chinese telecoms giant Huawei launched what it said was the world's thinnest smartphone, which it hopes will take on high-end rivals like Apple and Samsung in the global market.

US auto giant GM breaks ground on China Cadillac plant

Wed, 19 Jun 2013 08:24:49 +0300

US auto giant General Motors on Wednesday broke ground on a $1.3 billion plant in Shanghai to produce Cadillacs as it seeks a larger share of China's growing market for luxury cars.

Analysis: Hospital investors sold on U.S. health reform despite bumps

Wed, 19 Jun 2013 08:05:37 +0300

By Susan Kelly CHICAGO (Reuters) - Shares of U.S. hospital operators have been on a tear this year, on average posting triple the gains of the broader stock market, as investors tallied up the benefits of President Barack Obama's healthcare reform. While some on Wall Street have held back amid signs of trouble as U.S. states prepare to implement the reform law, long-term investors still see more reward than risk on the horizon for hospital stocks. They expect company earnings to strengthen as more Americans gain insurance coverage and hospitals lose less money treating the uninsured. ...

California senators want more information on oil well 'acid jobs'

Wed, 19 Jun 2013 06:36:29 +0300

By Braden Reddall SACRAMENTO, California (Reuters) - California state legislators on Tuesday told regulators and oil industry lobbyists they wanted more information about the use of acid to increase flows in wells in a technique that is used more often in the state than the controversial fracking method. California's century-old oil sector has come in for greater scrutiny as companies make early attempts to tap the Monterey shale, a deep formation that holds an estimated 15 billion barrels of oil - twice that of North Dakota's widely publicized Bakken shale. ...

Dish abandons Sprint bid, clearing way for SoftBank

Wed, 19 Jun 2013 06:32:48 +0300

US satellite television provider Dish Network said it has dropped plans to submit a revised bid for Sprint Nextel, paving the way for a rival offer from Japan's SoftBank.

Empire State Building gets 'left-field' $2 billion offer to sell

Wed, 19 Jun 2013 06:32:29 +0300

NEW YORK (Reuters) - A New York City real estate company offered to buy the Empire State Building for $2 billion, a written offer showed, significantly below the skyscraper's appraisal price and about three weeks after investors in the iconic building approved a plan to take the tower public in a real-estate investment trust. ...

GM aims for 10 percent of China's luxury car market by 2020

Wed, 19 Jun 2013 06:15:12 +0300

SHANGHAI (Reuters) - General Motors Co said on Wednesday it aims to quadruple its share of China's luxury auto market to 10 percent by 2020 as the U.S. automaker launches new Cadillac models and expands its distribution network in the world's largest car market. Bob Socia, head of GM's China operation, shared Cadillac's China growth target in a roundtable with reporters ahead of a ground-breaking ceremony for GM's new Cadillac plant on the outskirts of Shanghai. "We are not only expanding in tier-one and tier-two cities, which would be pretty logical to Cadillac, but ... ...

Japan's May trade deficit widens on import costs

Wed, 19 Jun 2013 05:19:35 +0300

Japan extended a string of trade deficits in May, official data showed on Wednesday, as the country's import costs rose on the weak yen, but shipments to the United States and China soared.

New York state announces plan for board to help cash-strapped cities

Wed, 19 Jun 2013 04:48:26 +0300

NEW YORK (Reuters) - New York state lawmakers on Tuesday announced plans to create a financial restructuring board and binding arbitration process to help struggling municipalities manage their finances. The legislation, which will be taken up by the state legislature soon, is designed to shore up fiscally distressed communities with shrinking tax bases and high expenses. ...

United Dreamliner diverted due to possible oil filter problem

Wed, 19 Jun 2013 04:42:21 +0300

SEATTLE (Reuters) - United Airlines said on Tuesday that a Boeing Co 787 on its way to Tokyo from Denver was diverted to Seattle after an indication of a problem with an oil filter in an engine, but the plane landed without incident. The unscheduled diversion is the latest hiccup for Boeing's newest plane, which has been beset by problems and only recently returned to the skies after regulators grounded it worldwide due to trouble with its batteries. ...

Adobe expects third-quarter Creative Cloud subscriber adds to exceed second-quarter

Wed, 19 Jun 2013 04:02:15 +0300

By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, known for its Photoshop and Acrobat software, reported a higher-than-expected adjusted second-quarter profit and said demand rose for Creative Cloud, the subscription-based version of its flagship software package. The company said it expects the number of paid subscribers for Creative Cloud in the current quarter to top the 221,000 subscribers who signed up in the second quarter, increasing the total to 700,000. The company added 153,000 subscribers in the first quarter. ...

Colorado wildfire destroys more than 500 homes, new blazes menace West

Wed, 19 Jun 2013 03:52:40 +0300

By Keith Coffman and Alex Dobuzinskis DENVER/LOS ANGELES (Reuters) - The number of homes destroyed by a Colorado wildfire rose above 500 on Tuesday as rain dampened the flames and allowed damage assessment teams to enter charred neighborhoods, and other threatening blazes grew in Alaska and elsewhere in the West. Authorities said the so-called Black Forest Fire, which has burned in the rolling hills outside Colorado Springs for the past week and killed at least two people, was 85 percent contained by Tuesday. ...

Outbreak of deadly piglet virus spreads to 13 U.S. states

Wed, 19 Jun 2013 03:35:51 +0300

By P.J. Huffstutter CHICAGO (Reuters) - A swine virus deadly to young pigs, one never before seen in North America, is spreading rapidly across the United States and proving harder to control than previously believed. The virus now has spread to 13 states - with more than 100 positive cases to date - since it was first diagnosed in the United States last month, said Montserrat Torremorell, the Allen D. Leman Chair in Swine Health and Productivity at the University of Minnesota's College of Veterinary Medicine. ...

Colorado wildfire snuffs over 500 homes, new blazes menace West

Wed, 19 Jun 2013 02:48:16 +0300

By Keith Coffman and Alex Dobuzinskis DENVER/LOS ANGELES (Reuters) - The number of homes destroyed by a Colorado wildfire rose above 500 on Tuesday as rain dampened the flames and allowed damage assessment teams to enter charred neighborhoods, as other threatening blazes grew in Alaska and elsewhere in the West. Authorities said the so-called Black Forest Fire, which has killed at least two people and has burned in the rolling hills outside Colorado Springs for the past week, was 85 percent contained by Tuesday. ...

Facebook touts advertising milestone

Wed, 19 Jun 2013 02:41:37 +0300

Facebook said Tuesday that more than a million businesses now advertise at the leading social network.

Vodafone raises Kabel Deutschland offer after rival bid: report

Wed, 19 Jun 2013 02:29:02 +0300

(Reuters) - Britain's Vodafone Group Plc has raised its preliminary offer to buy Germany's largest cable operator, Kabel Deutschland Holding AG, a day after U.S. media group Liberty Global Plc made a rival bid, Bloomberg reported on Tuesday, citing people familiar with the bid. Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company. Vodafone is said to be studying Kabel Duetschland's books before making an official offer, Bloomberg said. ...

U.S. lawmakers urge careful review of American-US Airways deal

Wed, 19 Jun 2013 02:27:39 +0300

WASHINGTON (Reuters) - Two U.S. lawmakers with antitrust oversight have urged the Obama administration to carefully review a planned merger of American Airlines and US Airways Group to ensure that it will not lead to higher prices for air travelers. US Airways announced on February 14 that it planned to buy American Airlines parent AMR Corp, which is restructuring in bankruptcy court. The airlines are looking to complete the deal by the end of September. ...

Exclusive: SunGard explores $2 billion data unit sale - sources

Wed, 19 Jun 2013 02:12:32 +0300

By Greg Roumeliotis and Soyoung Kim NEW YORK (Reuters) - SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said on Tuesday. The business for sale, which offers data center space and technology infrastructure to clients looking to safeguard their data, has earnings before interest, tax, depreciation and amortization (EBITDA) of around $200 million, the people said. ...

Officials investigating death of Puerto Rico bank executive

Wed, 19 Jun 2013 02:10:31 +0300

SAN JUAN (Reuters) - The FBI is investigating allegations that high-ranking bank officials in Puerto Rico conspired to have a former Doral Bank executive killed after he claimed he uncovered fraud, the U.S. attorney for the district of Puerto Rico said on Tuesday. Maurice Spagnoletti, 56, was shot multiple times while driving home from work to the fashionable Condado beachfront district in rush-hour traffic in June 2011. Authorities have described the shooting as an apparent contract killing, but have made no arrests. "We have had some leads, but not enough to bring charges. ...

FBI digs for Jimmy Hoffa's body in Michigan field

Wed, 19 Jun 2013 02:01:59 +0300

By Joseph Lichterman OAKLAND TOWNSHIP, Michigan (Reuters) - FBI agents in suburban Detroit widened their search of an overgrown field on Tuesday for the remains of former Teamsters union boss Jimmy Hoffa, who disappeared nearly 38 years ago and is thought to have been murdered by mobsters. But after two days of searching, there was no indication that any remains had been found. Agents broke for the night early Tuesday evening and were due to resume the search on Wednesday morning, officials said. ...

Chrysler relents, to recall 2.7 million Jeeps over fuel tanks

Wed, 19 Jun 2013 01:22:09 +0300

By Bernie Woodall DETROIT (Reuters) - Chrysler Group LLC said it would recall 2.7 million older Jeep models after initially fighting a recall request from U.S. regulators in a dispute over crash protection for their fuel tanks. The recall will affect Jeep Grand Cherokee SUVs from model years 1993 to 2004 and Jeep Liberty SUVs from 2002 to 2007. Regulators from the National Highway Traffic Safety Administration said the agency will continue to investigate the issue, including a review of new documents provided by Chrysler. NHTSA officials said they were pleased with Chrysler's decision. ...

Google challenges surveillance court on First Amendment grounds

Wed, 19 Jun 2013 00:35:15 +0300

SEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal requests, on First Amendment grounds. In its filing, Google requested the court to allow it to publish the aggregate number of national security requests it receives, including disclosures under the Foreign Intelligence Surveillance Act (FISA), claiming it as part of its First Amendment right to free speech. ...

From the ashes of Webvan, Amazon builds a grocery business

Wed, 19 Jun 2013 00:33:17 +0300

By Alistair Barr SAN FRANCISCO (Reuters) - The online grocery start-up Webvan may have been the single most expensive flame-out of the dot-com era, blowing through more than $800 million in venture capital and IPO proceeds in just over three years before shutting its doors in 2001. Twelve years later, though, Webvan is rising from the dead - in the form of an online grocery business called AmazonFresh. Four key Amazon. ...

Adobe profit beats as Creative Cloud subscriptions soar

Wed, 19 Jun 2013 00:30:23 +0300

By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based version of its flagship software package. Shares of the company rose 4.4 percent in after-market trading. They closed at $43.36 on the Nasdaq on Tuesday. Adobe has been shifting to web-based subscription service Creative Cloud from a licensing model since last year. ...

Montreal mayor resigns, says will fight corruption charges

Wed, 19 Jun 2013 00:24:00 +0300

By David Ljunggren (Reuters) - Montreal Mayor Michael Applebaum resigned on Tuesday, a day after he was charged with fraud and corruption in the latest major Canadian municipal scandal. "I am going to put my energies into my defense and into my family," said Applebaum, who had promised to clean up Canada's second-largest city when he was named to the post in November. Declaring his innocence, he added in a statement to reporters: "This is why I am resigning as mayor of Montreal - it is the responsible thing to do. ...

Deloitte fined $10 mn in US laundering case

Tue, 18 Jun 2013 23:57:02 +0300

Big accountancy Deloitte was fined $10 million by New York state on Tuesday for its actions in advising Standard Chartered Bank over money laundering.