LONDON The Bank of England kept interest rates steady December 19, saying it was too soon to gauge how much Prime Minister Boris Johnson’s election victory would lift the Brexit uncertainty that has hung over the economy. Two of the BoE’s nine policymakers voted for a second month in a row...
BEIJING U.S. companies operating in China were having an increasingly tough time last year as slowing economic growth and trade tensions squeezed profits before the coronavirus outbreak added to their concerns, a business survey showed on March 10. Over a fifth of the 372 members of the American Chamber of Commerce...
Michael Nienaber and Rene Wagner /(REUTERS) BERLIN The German economy escaped a recession in the third quarter as consumers, state spending and construction drove a 0.1% quarterly expansion, defying expectations of another contraction in Europe's largest economy, preliminary data showed on Thursday. On an annual basis, gross domestic product expanded 0.5% from...
Perry Garfinkel https://www.nytimes.com/2020/01/13/business/airlines-flights-india.html Singapore Airlines added nine weekly flights to India last year, bringing its total to 104. Air France-KLM is increasing its seat capacity on Indian flights by 25 percent this winter. United Airlines has just begun offering nonstop seasonal daily flights from San Francisco to Delhi. And Delta Air...
HONG KONG Chinese manufacturers and sellers of drug ingredients say logistical hurdles and labor shortages due to the coronavirus epidemic are delaying some production and shipments, adding to concerns about the potential for drug shortages globally as the virus spreads. China, along with India, is a key link in the world’s...
SAN FRANCISCO Apple Inc and Intel Corp on Wednesday filed an antitrust lawsuit against Fortress Investment Group, alleging the SoftBank Group Corp unit stockpiled patents to hold up tech firms with lawsuits demanding as much as $5.1 billion. The suit follows an earlier case that Intel filed against Fortress in October....
Boeing made a decision December 16 that the company had long resisted: To temporarily stop producing its most popular passenger jet, the 737 Max, which has been grounded for nine months in the wake of two crashes that killed 346 people. The impact of that decision is stretching far beyond...
Joyce Lee(Reuters) SEOUL The founder of the defunct Daewoo Group, Kim Woo-choong, has died after watching the conglomerate he built into a symbol of South Korea’s manufacturing prowess become one of its biggest corporate failures, crushed by debt. Kim, who died December 9 at 83 after battling chronic illness, had led what...
Ana Swanson(New York Times) WASHINGTON The U.S. has spent two years chipping away at the World Trade Organization, criticizing it as unfair, starving it of personnel and disregarding its authority, as President Donald Trump seeks to upend the global trade system. The Trump administration is expected to go one step further and...
South Korea will idle up to a quarter of its coal-fired power plants between December and February to help limit air pollution, and the remaining plants should be enough to supply power over the winter, the country's energy ministry said on Thursday. The presidential committee recommended in September shutting down...