News

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Wed, 27 Sep 2017 18:15:56 GMT

Valuation of Spotify reaches $16B in private trades

Private traders in shares of Spotify valued the business at nearly $16B, while rising subscription numbers and demand for the shares could lift the worth to $20B after public listing.

Wed, 27 Sep 2017 16:40:37 GMT

US pending home sales decrease 2.6% in August

The US pending home sales fell 2.6% over the course of August, as the country's property market remained undermined by inventory shortage, which kept pushing up prices.

Wed, 27 Sep 2017 16:40:04 GMT

Boeing to lose business in UK over Bombardier row

Britain told Boeing that the company could lose out on the UK defence contracts due to its dispute with Canada's rival Bombardier, which put 4.2K jobs at risk in Ireland.

Wed, 27 Sep 2017 15:57:16 GMT

French government to reach EU credibility with 2018 budget

The French government presented the first budget under Emmanuel Macron with tax and spending cuts, expecting it to restore the country's credibility in Europe.

Wed, 27 Sep 2017 15:55:36 GMT

EU border controls to be extended in crisis

The European Commission suggested extending transitory border controls inside the EU free-travel zone for nearly three years in an attempt to stem migration.

Wed, 27 Sep 2017 15:22:22 GMT

US durable goods data reaffirms economic strength

The US durable goods orders marked stronger-than-anticipated increase in August, as shipments continued to grow, pointing to the strength of the country's economy.

Wed, 27 Sep 2017 15:19:27 GMT

Dubai begins tests aiming to introduce first flying taxi service

Dubai launched the world's first test flight of drone taxi within ambitious plans by the United Arab Emirates to take a lead in innovation between Arabian countries.

Wed, 27 Sep 2017 14:24:32 GMT

VW's truckmaker Scania to pay $1B fine for price fixing

The European Union hit the Volkswagen-owned Scania with a $1B fine on Wednesday as the Swedish truckmaker was involved in a 14-year price-fixing cartel.

Wed, 27 Sep 2017 14:10:14 GMT

Bombardier dispute may put UK-Boeing ties at risk

On Wednesday, the UK Defence Secretary stated that Boeing's trade challenge taken against its Canadian rival Bombardier could jeopardise the US company's relationship with Britain.

Wed, 27 Sep 2017 13:34:24 GMT

BAC seeks for extra office space in Paris

Bank of America is looking for additional office space to lease in Paris amid its intention to expand the operations in France's capital to cope with the Brexit impact.

Wed, 27 Sep 2017 13:24:01 GMT

Germany launches tax inquiry against UBS clients

On Wednesday, German prosecutors launched a probe against the UBS Swiss bank's clients on the back of suspected evasion of taxes.

Wed, 27 Sep 2017 12:34:18 GMT

France supports Siemens rail deal with Alstom despite job fears

France's government had backed the Siemens-Alstom rail joint venture, despite fears over job cuts, saying it would preserve the "strategic interests".

Wed, 27 Sep 2017 11:33:57 GMT

Woman arrested under OSA by British counter-terrorism police

On Wednesday, the UK counter-terrorism police arrested a woman under the Official Secrets Act in London, without elaborating on further details.

Wed, 27 Sep 2017 11:21:54 GMT

Seven dead in Islamic State attack on Baghdad

The Islamic State insurgents attacked the Iraqi troops in the west of Baghdad, killing no less than seven soldiers on Wednesday before they were forced to retreat.

Wed, 27 Sep 2017 10:22:49 GMT

President Trump to call for slashing tax rates on businesses

The President Donald Trump is set to call for deep US rate cuts on businesses on Wednesday in his new tax plan, which is likely to propose few details on how to make cuts pay without expanding federal deficit.

Wed, 27 Sep 2017 10:12:42 GMT

PM May disappointed by US duties on Bombardier

The UK Prime Minister Theresa May was bitterly disappointed by the US decision to impose severe duties on Bombardier jets, saying Britain will continue cooperation to protect jobs in Northern Ireland.

Wed, 27 Sep 2017 09:33:41 GMT

Siemens picks France's Alstom for rail JV

Siemens CEO Joe Kaeser stated on Wednesday that he had chosen French company Alstom over Canadian Bombardier for the rail joint venture due to its management team and sound finances.

Wed, 27 Sep 2017 09:27:58 GMT

Samsung's scion Jay Y. Lee to appeal his jail term

The former Vice Chairman of Samsung Electronics Jay Y. Lee is set to appeal his five-year prison term for corruption and bribery on Thursday.

Wed, 27 Sep 2017 08:34:08 GMT

US slaps duties on Bombardier aircraft amid Boeing complaint

On Tuesday, the US Commerce Department imposed anti-subsidy duties on Bombardier jets, following the Boeing accusations that Canada had unfairly subsidised the aircraft.

Wed, 27 Sep 2017 08:28:04 GMT

SEB, Nasdaq to test blockchain-based mutual funds platform

Nordic financial company SEB and exchange group Nasdaq joined hands to test a blockchain-based trading platform for mutual funds aimed at Swedish market with intention to simplify and speed up the process.

Wed, 27 Sep 2017 07:34:00 GMT

Pakistani FinMin pleads not guilty of corruption charges

The Finance Minister of Pakistan Ishaq Dar denied any corruption charges against him and pleaded not guilty of owning assets beyond his means amid a corruption probe into ex-PM Nawaz Sharif.

Wed, 27 Sep 2017 07:28:05 GMT

Ukraine evacuates 24K people amid ammunition depot blast

The Ukrainian authorities evacuated about 24K people as a military ammunition depot, located in the central Ukraine 270 km west of Kiev, exploded due to some unclarified "external factors".

Wed, 27 Sep 2017 06:11:00 GMT

Qatar imports rebound in August

According to the official data released on Wednesday, Qatar's imports steeply rebounded over the course of August compared to the prior month.

Wed, 27 Sep 2017 06:10:52 GMT

Bombardier aims to strike deals with Chinese airlines

According to a senior executive of Bombardier, the planemaker is aiming to strike deals with Chinese carriers in the nearest future.

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