India announces series of state bank mergers

India announced a series of mergers involving 10 state-owned banks on Friday, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending and revive economic growth.
31 August 2019, 18:00 PM

Amazon and Indian trader group in public spat over discounts

Amazon.com defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant’s website.
31 August 2019, 18:00 PM

US, China to meet this month, but tariff hikes remain

Trade teams from China and the United States continue to talk and will meet in September, but tariff increases on Chinese goods set to go in place on Sunday will not be delayed, President Donald Trump said on Friday.
31 August 2019, 18:00 PM

India growth slows to 5pc in fresh blow to Modi

India’s economic growth slowed for the fifth straight quarter in the April-to-June period to 5.0 percent, government figures showed Friday in a fresh blow to Prime Minister Narendra Modi.
31 August 2019, 18:00 PM

US doesn’t have a ‘tariff problem’, it has a ‘Fed problem’: Trump

President Donald Trump on Friday denied his trade wars were harming the US economy, instead lashing out the Federal Reserve and poorly run American companies.
31 August 2019, 18:00 PM

Google to pay up to $200m to FTC on YouTube probe

Alphabet Inc’s Google will spend up to $200 million to settle a Federal Trade Commission investigation into YouTube’s alleged violation of a children’s privacy law, a person briefed on the matter told Reuters.
31 August 2019, 18:00 PM

Reaching Europe through Delhi

If the recent delivery of garment shipment from Dhaka to Manchester via Indira Gandhi International Airport’s newly-launched Transshipment Excellence Centre (TEC) is anything to go by, it could emerge as a boon for Bangladesh’s textile and retail industry looking to reach markets in Europe and the US.
31 August 2019, 18:00 PM

German unemployment stable despite recession warning

Germany’s labour market remains robust, but is starting to feel the impact of a slowing economy, official data showed Thursday.
29 August 2019, 18:00 PM

New China tariffs a ‘job killer,’ US industry tells Trump

US President Donald Trump’s new tariffs on Chinese goods are a “job killer” that will slam consumers and could make a recession more likely, industry groups said Wednesday.
29 August 2019, 18:00 PM

China’s factory activity contracting

Factory activity in China is expected to have contracted for the fourth straight month in August, a Reuters poll showed, as the United States ratcheted up trade pressure and domestic demand remained sluggish.
29 August 2019, 18:00 PM

Argentina asks IMF to restructure debt payments

Argentina asked the International Monetary Fund to restructure its debt payments on the $56 billion bail-out loan agreed last year in a bid to calm market turbulence, Finance Minister Hernan Lacunza said Wednesday.
29 August 2019, 18:00 PM

Japan considers tighter ownership reporting rules

Japan is considering lowering the 10 percent ownership threshold at which foreigners are required to report a stake in domestic companies, two officials said, as Tokyo looks to better monitor potential Chinese investment in areas related to security.
29 August 2019, 18:00 PM

French Q2 growth revised upwards to 0.3pc

The French economy grew by 0.3 percent in the second quarter, the national statistics office Insee said Thursday, revising upwards an earlier estimate of 0.2 percent.
29 August 2019, 18:00 PM

India’s economic growth seen slipping in April-June

India’s economy likely expanded at its weakest pace in more than five years in April-June, a Reuters poll showed, as consumer demand and private investment weakened at a time global trade frictions have dampened business sentiment.
29 August 2019, 18:00 PM

S Korea Supreme Court orders retrial for Samsung heir

South Korea’s top court on Thursday ordered a new trial for Samsung heir Lee Jae-yong, who was convicted of offences including bribery and embezzlement in connection with the scandal that brought down former president Park Geun-hye.
29 August 2019, 18:00 PM

UK deadline looms for bank payouts over PPI scandal

Britons faced a crunch deadline Thursday to claim compensation for mis-sold insurance that is costing UK banks billions of pounds, while tarnishing their battered reputations further following several financial scandals.
29 August 2019, 18:00 PM

Oil giants shower Qatar with crown jewels in race for LNG prize

When Royal Dutch Shell wanted to buy a stake last year in a promising exploration block off South Africa, Total, the asset’s main shareholder, used its right to stymie the deal and acquired the share itself, only to sell it on to Qatar Petroleum.
29 August 2019, 18:00 PM

Tesla rolls out insurance in California

Tesla Inc said on Wednesday it was launching an insurance service designed to give drivers in California, its biggest market, lower rates because of safety features on its electric vehicles.
29 August 2019, 18:00 PM

Google to move Pixel smartphone production to Vietnam

Alphabet Inc’s Google is shifting its Pixel smartphone production to Vietnam from China starting this year as it builds a cheap supply chain in Southeast Asia, the Nikkei business daily reported on Wednesday.
28 August 2019, 18:00 PM

UK employers want more staff, but fear shortages as Brexit nears

British employers plan to hire more staff even as they remain pessimistic about the economy in the run-up to Brexit, according to a survey published on Wednesday which showed no sign of a weakening of the strong labour market.
28 August 2019, 18:00 PM