Wednesday, July 5th, 2017

 

EU approves Opel takeover by France’s Peugeot PSA

BRUSSELS, July 5 — The EU’s competition authority today approved the blockbuster takeover of Germany’s Opel by France’s Peugeot PSA that will create Europe’s second-largest carmaker after Volkswagen. PSA — which also owns Citroen and…


EU, Japan join forces on trade challenging Trump

BRUSSELS, July 5 — The EU and Japan broadly agreed on a massive free trade deal today in a clear challenge to US President Donald Trump days before he takes his “America First” stance to a key summit. “We’ve reached political agreement…


Oil retreats after bull run, on rising Opec exports, strong dollar

LONDON, July 5 — Oil prices fell more than 2 per cent today, ending their longest bull-run in more than five years, as climbing Opec exports and a stronger dollar turned sentiment more bearish. Benchmark Brent crude futures were down US$1.14,…


Wall Street little changed ahead of US Fed minutes

NEW YORK, July 5 — Wall Street was little changed today as gains in technology stocks were overshadowed by steep losses in energy shares, while investors awaited minutes of the Federal Reserve’s last meeting for more clues on interest rate…


Worldpay says agreed to be taken over by Vantiv in US$10b deal

LONDON, July 5 — Worldpay Group Plc, Britain’s largest payment processor said it had agreed to terms of a potential merger with US credit card technology firm Vantiv Inc in a deal worth £7.7 billion (RM42.7 billion), excluding debt….


Daimler, BAIC to invest US$735m in electric vehicles in China

FRANKFURT, July 5 — Germany’s Daimler and its Chinese joint venture partner BAIC Motor Corporation have agreed to jointly invest 5 billion yuan (RM3.1 billion) in battery electric vehicle production in China by 2020 and to provide the…


Ringgit closes higher on dollar volatility

KUALA LUMPUR, July 5 — The ringgit closed marginally higher against the US dollar today as the greenback remained volatile following the announcement of North Korea’s “successful” missile launch yesterday At 6 pm, the local note was…


Outlook for UK economy clouds over in second half of 2017

LONDON, July 5 — Britain’s economy is likely to lose momentum in the second half of 2017, according to a closely watched survey that could disappoint some Bank of England officials who want to raise interest rates for the first time in a…


Missing Chinese tycoon’s financial empire puts investments up for sale, sources say

BEIJING, July 5 — The financial empire of missing Chinese-born tycoon Xiao Jianhua has put billions of dollars of investments up for sale, including stakes in a life insurer, a trust and banking assets, three people involved in the process told…


Petronas eyes 70pc cashless transactions at petrol stations by 2019

KUALA LUMPUR, July 5 — Petronas Dagangan Bhd (PetDag) hopes that cashless payment will make up to 70 per cent of the total transactions at Petronas stations by 2019, up from the current 40 per cent. Retail Business Division Head, Aadrin Azly,…