Tuesday, February 5th, 2019

 

Berlin to block foreign takeovers with taxpayer cash

FRANKFURT, Feb 5 — The German state should "in very important cases" block foreign firms from buying up companies working on key technologies by itself stepping in as an investor, Economy Minister Peter Altmaier said today. "The state should only…


Holiday airline Germania collapses, cancels all flights

BERLIN, Feb 5 —Holiday airline Germania collapsed today, succumbing to wider sectoral woes after failing to secure financing to navigate a short-term cash squeeze, cancelling all flights immediately. The insolvency of the German company, which…


Apple agrees €500m tax settlement with France

PARIS, Feb 5 — Apple said today it had reached an agreement with French authorities to settle 10 years of back taxes, becoming the latest US company to reach a deal with France which has led a European push for higher taxes on tech giants. French…


London stocks jump on weak pound, strong BP profits

LONDON, Feb 5 — London's stock market rallied today to a new two-month peak, supercharged by a Brexit-hit pound and energy giant BP's surging annual profits, dealers said. Other European indices rose also by around one per cent as investors eyed…


Italian bond yields hover near highs ahead of services sector survey

LONDON, Feb 5 — Italian government bond yields hovered near recent highs today ahead of the release of a services sector survey that investors believe could indicate the depth of the country's economic downturn. Italy went into a recession in the…


BP says net profit almost trebles to US$9.4b in 2018

LONDON, Feb 5 — BP almost trebled its annual net profit to US$9.4 billion (RM38.4 billion) last year as oil prices soared towards the end of 2018, the British energy giant announced Tuesday. Profit after tax rocketed from US$3.4 billion in 2017,…


Australia central bank cuts growth outlook, holds rates

SYDNEY, Feb 5 — Australia’s central bank cut its economic growth forecasts and kept interest rates at a record low today, as house prices in major cities slumped and consumer spending weakened. “Some downside risks have increased,” governor…


Australian bank shares surge most in decade as investors cheer inquiry outcome

SYDNEY, Feb 5 — Australian bank shares surged the most in a decade today after a long-awaited report on finance-sector misconduct recommended dozens of rule changes but spared the “Big Four” lenders any serious threat to their market…


World Bank leadership search likely to end with US candidate — again

WASHINGTON, Feb 5 — The search for a new leader for one of the most high-profile global organisations begins Thursday and seems likely to end again with selection of the US candidate. The Washington-based World Bank has been led by an American…


World Bank leading the charge on development finance

WASHINGTON, Feb 5 — The World Bank, whose new president is due to be appointed by mid-April, is a global financial organisation whose mission is to end extreme poverty by supporting development projects. Like its sister institution, the…