Business News
U.S.’s Pompeo says Huawei is an ‘instrument of Chinese government’
Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.
Articles by admin
Business News
Abraaj founder released from custody after $19 million bail payment
Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said.
Business News
U.S.’s Pompeo says Huawei an ‘instrument of Chinese government’: FBN
Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.
Business News
Pakistan extends airspace closure on Indian border to June 14
Pakistani airspace on its eastern border with India will remain closed until June 14, a civil aviation official said on Wednesday, the latest extension months after a standoff between the arch rivals.
Business News
ArcelorMittal takes the knife to European steel output again
ArcelorMittal underlined the problems facing the European steel industry when it cut production for the second time this month, blaming weak demand and high imports.
Business News
Nissan tells Renault ‘not opposed’ to Fiat Chrysler merger plan: Nikkei
Nissan on Wednesday told Renault it wasn’t opposed to its partner’s potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry.
Business News
Bond bulls boosted as trade tensions send recession signals
With no sign Sino-U.S. trade tensions will let up and fears of an Italy-European Union confrontation growing again, the global bond rally accelerated on Wednesday, as investors dumped shares and scurried for the safety of German and U.S. government debt.
Business News
Exclusive: Arbitration court rejects India’s plea in case against Nissan – sources, document
The Permanent Court of Arbitration in Singapore has rejected India’s argument that the court does not have the jurisdiction to rule on a case brought against India by Japan’s Nissan Motor, according to two people and documents reviewed by Reuters.
Business News
VW’s Porsche CEO probed by prosecutors: Stuttgarter Nachrichten
German prosecutors are investigating the chief executive of Volkswagen’s Porsche business, Oliver Blume, over a possible breach of fiduciary trust tied to payments made to a Porsche works council member, a newspaper reported on Wednesday.
Business News
Airbus cheers 50th anniversary with flypast but little swagger
Airbus prepared on Wednesday to celebrate its 50th anniversary with a private flypast for staff at its Toulouse base and low-key publicity as a new management seeks a break with the company’s turbulent and theatrical past.
Business News
Boeing 737 MAX may not return to service until August: IATA head
The International Air Transport Association (IATA) expects it could take until August before the Boeing Co 737 MAX returns to service, the airline group’s head said on Wednesday, adding that the final say on the timing rested with regulators.
Business News
ArcelorMittal makes deeper cuts to steel production in Europe
ArcelorMittal, the world’s largest steelmaker, cut steel production in its main market, Europe, for the second time this month, blaming weak demand and high imports.
Business News
Nissan’s Infiniti brand to move back to Japan from Hong Kong: document
Nissan Motor Co’s premium brand Infiniti is relocating its headquarters back to Japan from Hong Kong, its home since 2012, to create “more operational efficiencies” with its parent company, according to a document seen by Reuters on Wednesday.
Business News
Airline group to hold summit on Boeing 737 MAX return in five-seven weeks: IATA head
The International Air Transport Association (IATA) will organize a summit with airlines, regulators and manufacturers in 5 to 7 weeks to discuss what is needed for the Boeing Co 737 MAX to return to service, the airline group’s head said on Wednesday.
Business News
Global recession fears hit stocks, bonds rally
Asian shares fell on Wednesday and bonds rallied as investor sentiment soured over growing worries about world growth with trade tensions between the United States and China showing no signs of easing.