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Electronics giant Philips posts mixed results in Q3

THE HAGUE, Oct 22 — Dutch electronics giant Philips, which is focusing its business on medical equipment and services, today posted higher third quarter sales but profits dipped due to currency headwinds. Sales rose 4.0 per cent to €4.3 billion…


China shares leap 4pc on authorities’ pledges of support, tax changes

SHANGHAI, Oct 22 — China’s benchark blue-chip index surged over 4 per cent today, posting its best daily performance in almost three years, as investors piled into the battered market after coordinated statements of support by senior regulators….


Fiat sells auto parts unit to Japan’s Calsonic for €6.2b

MILAN, Oct 22 — Fiat Chrysler said today it was selling its Italian auto parts unit Magneti Marelli to Japan’s Calsonic Kansei (CK) in a deal worth €6.2 billion (RM29.7 billion). It said the merged company will rank in the top 10 auto parts…


New trade pact leaves most US industry at mercy of Mexico’s courts

NEW YORK, Oct 22 — The new North American trade agreement ends key legal protections for many US businesses operating in Mexico, leaving their operations exposed to a risk they had avoided under the old trade deal: Mexico’s court system. For…


Germany urges global minimum tax for digital giants

FRANKFURT AM MAIN: German Finance Minister Olaf Scholz in an interview said he backed a global minimum fiscal regime for multinationals as Europe looks to levy tax notably on US tech giants. “We need a minumum tax rate valid globally which no state can get out of (applying),” Scholz, a social democrat in conservative Chancellor […]


China-backed hydro dam threatens world’s rarest orangutan

JAKARTA, Oct 21 — A billion-dollar hydroelectric dam development in Indonesia that threatens the habitat of the world’s rarest great ape has sparked fresh concerns about the impact of China’s globe-spanning infrastructure drive. The site of…


Assange sues Ecuador for violating ‘fundamental rights’

QUITO: WikiLeaks founder Julian Assange sued the Ecuador government on Friday for violating his “fundamental rights” and limiting his access to the outside world while in asylum at its London embassy. The 47-year-old Australian’s legal action comes with speculation mounting that Ecuador is preparing to end its standoff with the British government by terminating his […]


UK PM reassures business leaders over Brexit

LONDON, Oct 20 — Prime Minister Theresa May took pains yesterday to reassure more than 130 British business leaders that her government would deliver frictionless trade with the European Union after Brexit. May’s conference call with…


Wall St week ahead: With market on edge, investors look to tech trio

SAN FRANCISCO, Oct 19 — The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street’s…


Toyota chief urges UK, EU to avoid no-deal Brexit ‘at all costs’

TOKYO, Oct 19 — The head of Toyota, who leads a group of Japanese automakers, today urged Britain and the European Union to avoid a no-deal Brexit “at all costs.” The statement from Akio Toyoda comes after EU leaders yesterday warned Britain…