Friday, July 21st, 2017

 

Sterling struggles near eight-month low against euro

LONDON, July 21 — Sterling edged down against the euro today, close to an eight-month low and capping its worst week since October, as the euro rallied across the board on bets the European Central Bank is on track to tighten monetary policy…


Ford to petition to avoid recall of 2.2 million vehicles

WASHINGTON, July 21 — Ford Motor Co will petition to avoid an immediate recall of about 2.2 million vehicles with Takata air-bag inflators that the Japanese auto supplier declared defective last week, US regulators and the automaker said today….


Oil slips as Opec’s supply is seen at highest level this year

NEW YORK, July 21 — Oil slid for a second day as a report that Opec’s supply in July will be the highest this year fuelled further worries that a global glut is persisting. Futures fell as much as 1.9 per cent in New York. Supply from Opec…


Wall Street retreats from record levels as GE disappoints

NEW YORK, July 21 — US stock indexes were lower in late morning trading and pulled back from record levels as weak earnings from industrial heavyweight General Electric weighed. Shares of GE fell as much as 5.4 per cent to their lowest level…


Wanted: Housewives to beat staff crunch at Japan’s FamilyMart

TOKYO, July 21 — Japan’s second-largest convenience store chain hopes it has found an answer to its labour problems — housewives. FamilyMart plans to hire 100,000 for part-time jobs over the next two years as it struggles to cope with a…


Chinese courier ZTO sued for ‘untrue statements’ in US$1.4b US IPO

SHANGHAI, July 21 — Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a US pension fund that alleges the firm exaggerated its profit margins to lure investors into its US$1.4 billion (RM6…


Reliance rattles Indian telcos again by unveiling ‘free’ 4G phone

MUMBAI, July 21 — India’s disruptive new telecom entrant Reliance Jio, backed by the country’s richest man Mukesh Ambani, unveiled a low-cost 4G-enabled phone today to woo tens of millions of new clients, further destabilising legacy telecom…


Blackstone, CVC make their move as payment companies cash in

LONDON, July 21 — Private equity firms Blackstone and CVC Capital Partners bid £2.9 billion (RM 16.1 billion) for payments processing company Paysafe Group today, joining a rush of investors into the industry. In a separate statement, Paysafe…


Opec, Russia to stand pat on oil deal even as glut persists

LONDON, July 21 — Opec and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend. Oil has slumped…


TRC Synergy subsidiary sells Melbourne land for RM32.16m

KUALA LUMPUR, July 21 — Trc Synergy Bhd’s wholly-owned subsidiary, TRC (Aust) Pty Ltd (TRCA) , is selling a 3,621 square metres land located in Melbourne, Australia for A$9.66 million or about RM32.16 million. TRCA inked an agreement with…