Friday, June 23rd, 2017

 

VW brand is cutting jobs more quickly than planned, HR boss says

WOLFSBURG, Germany, June 23 — Volkswagen is reducing the workforce at its core division more rapidly than planned, its human resources chief said, helping the brand make progress on cost cuts needed to revive the business. The world’s…


Ford’s China move casts new cloud on Mexican carmaking

MEXICO CITY, June 23 — A second U-turn this year by Ford Motor Co in Mexico has raised the spectre of Chinese competition for local carmaking, adding to pressure on the industry after repeated threats by US President Donald Trump to saddle it…


US new home prices hit record in May

WASHINGTON, June 23 — Sales of new homes in the United States picked up in May, with prices hitting their highest levels on record, the Commerce Department reported today. Coming at the start of the peak home-buying season and after April’s…


BlackBerry falls most in two years as software sales falter

TORONTO, June 23 — BlackBerry Ltd fell the most in almost two-and-a-half years after its quarterly earnings report showed surprisingly weak revenue from software, marring what was otherwise shaping up to be a banner year. The Canadian…


Bank of England probe over crisis-era auctions closed by SFO

LONDON, June 23 — A UK Serious Fraud Office probe into the Bank of England’s crisis-era liquidity auctions that involved interviews with at least two former deputy governors was closed today, with prosecutors saying there was “no evidence of…


Wall Street weighed down by health, consumer shares

NEW YORK, June 23 — US stocks were mostly lower today, dragged lower by healthcare and consumer staples shares. Health stocks had rallied yesterday after Senate Republicans unveiled legislation that would replace Obamacare. However, the bill…


British Airways applies to use Qatar planes, staff during cabin crew strike

LONDON, June 23 — British Airways has applied to use Qatar Airways planes and crew to help the airline to fly all passengers to their destinations during planned strikes by some of its cabin staff next month. British Airways’ mixed fleet…


ECB’s Draghi tells EU leaders expects economy, wages to grow

BRUSSELS, June 23 — The euro zone economy is growing and unemployment is falling, but underlying inflation is not rising because wage growth has not yet picked up, European Central Bank President Mario Draghi told European Union leaders. In a…


A growing pension burden

KUALA LUMPUR (June 23): The Edge weekly in its latest edition says that a civil service pay hike is probably bittersweet to Datuk Wan Kamaruzaman…


China auditor uncovers 200b yuan in fake revenue at state firms

BEIJING, June 23 — China’s government auditor said in its 2016 report published today that 18 of 20 central state firms it audited had inflated revenue by 200 billion yuan (RM125.4 billion) and profits by 20.3 billion yuan in recent years….