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Rise of renewables creating ‘new world’, says report

ABU DHABI, Jan 11 — The rapid growth of renewable energy sources and the demise of fossil fuels are causing major changes in global politics, a special commission said in a report today. The shift “will alter the global distribution of power,…


European banks’ beauty only skin-deep

LONDON: Europe’s top banks may have survived a milestone test of their resilience but strengthened balance sheets count for little when they generate such meagre returns compared with US rivals, investors say. The European Banking Authority stress test results on Friday showed the sector in reasonable financial health, with a clean sweep of 48 lenders […]


European banks' beauty only skin-deep, investors say

LONDON, Nov 6 — Europe's top banks may have survived a milestone test of their resilience but strengthened balance sheets count for little when they generate such meagre returns compared with US rivals, investors say. The European Banking…


Taobao targets Singapore shoppers in marketing efforts for Singles’ Day

SINGAPORE, Nov 2 — After smashing its record last year by raking in more than S$30 billion in sales within 24 hours during the annual November 11 Singles’ Day shopping event, Chinese e-commerce giant Taobao is looking to draw even more shoppers…


US business spending on equipment cooling, goods trade deficit rises

WASHINGTON, Oct 26 — US business spending on equipment appeared to have remained slow in September and the goods trade deficit widened further as rising imports outpaced a rebound in exports, suggesting economic growth moderated in the third…


Comcast eclipses Murdoch’s Fox with £30b Sky bid

LONDON, Sept 23 — US cable giant Comcast outbid Rupert Murdoch’s 21st Century Fox in a blind auction for the European TV operator Sky yesterday that all but settled a titanic battle between the two media empires. Britain’s takeover regulator…


Hot tech sector prompts shakeup in S&P 500 stock indexes

NEW YORK: The hot and rapidly changing tech sector has prompted the S&P 500 stock index to reshuffle its components, opening up more chances to invest in Google, Netflix, Facebook and other stars after Friday’s trading session. Facebook did not yet exist and flip phones were cutting edge in 1999 when the industry classification system […]


Chinese companies flee overseas to avoid US tariffs

BEIJING, Sept 11 — A growing number of Chinese companies are adopting a crafty way to evade US President Donald Trump's tariffs: remove the “Made in China” label by shifting production to countries such as Vietnam, Serbia and Mexico. The…


Amazon touches US$1t, on pace to overtake Apple

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NEW YORK, Sept 5 — Amazon.com Inc yesterday briefly joined Apple Inc to become the second US$1 trillion (RM4.14 trillion)  publicly listed US company after its stock price more than doubled in a year as it grew rapidly in retail and cloud…


With record in view, aging US bull market may still be frisky

NEW YORK: Why settle for nine-and-a-half years when you can do an even 10 or better? That’s the thinking of a lot of investors measuring whether a historically long run in US stocks still has legs. On Wednesday, the S&P 500’s bull-market run will turn 3,453 days old, which in some market watchers’ eyes will […]