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Ford braced for $600m Brexit currency hit

FORD'S 2017 earnings will be hit by a delayed currency impact of at least $600 million from Britain's vote to leave the European Union, the US carmaker told Reuters, putting last year's record European profit levels beyond reach.
28 January 2017, 18:00 PM

Border tax ideas roil oil markets, favour Gulf Coast refiners

As with many industries now fretting over the uncertain future of US trade policy, the oil business is sizing up the potential impact of the various protectionist measures being bandied about Washington - which have sent crude markets into a tizzy.
28 January 2017, 18:00 PM

Uber driver: rare job for hard-up French suburban youth

Maligned by leftist French politicians as a symbol of the jobbing economy, Uber is making inroads in high-rise Paris suburbs, with the prospect of work luring thousands of young drivers despite difficult conditions.
28 January 2017, 18:00 PM

India's investors see transaction tax hike, less friendly budget

Investors in India are bracing for higher taxes and fewer incentives from the government's annual budget on Feb. 1 as the focus shifts to wringing out revenues to finance giveaways and higher public investment.
28 January 2017, 18:00 PM

Apple takes legal war with Qualcomm to China

Apple on Wednesday took its legal war with Qualcomm to China, filing lawsuits there accusing the chip-making giant of illegally wielding monopoly power.
26 January 2017, 18:00 PM

India plans expansive budget despite growth, revenue worries

India's finance minister is likely to borrow more than originally planned when he presents the budget on Feb. 1, senior aides and officials said, despite counting on revenues from a national sales tax whose launch date is still unknown.
26 January 2017, 18:00 PM

Unilever ends 2016 with sales growth below estimates on India, Brazil

Consumer goods maker Unilever reported lower-than-expected fourth-quarter sales on Thursday, blaming the Indian government's withdrawal of high-value notes and a weak economy in Brazil.
26 January 2017, 18:00 PM

Xiaomi executive Barra joins Facebook to lead virtual reality business

Facebook Inc has hired Hugo Barra, the most prominent global executive at Chinese smartphone maker Xiaomi Inc, to lead its virtual reality business including the Oculus unit, Chief Executive Mark Zuckerberg said.
26 January 2017, 18:00 PM

India buys Australian wheat, Bangladesh takes Canadian

Indian mills bought 50,000 tonnes of Australian standard wheat in recent deals for February shipment while Bangladesh purchased an equal quantity of Canadian wheat for arrival in April, traders said.
26 January 2017, 18:00 PM

Consumers drive Britain's economy, repulsing expected Brexit vote hit

Britain's free-spending consumers again wrong-footed broad prognostications of a slowdown after June's Brexit vote, driving a robust pace of economic growth in the final three months of 2016, data showed on Thursday.
26 January 2017, 18:00 PM

Ericsson profits plunge in 2016

Swedish telecoms equipment maker Ericsson said Thursday its earnings plunged in 2016 on weak demand for mobile broadband networks in its developing markets, which were hit by economic slumps.
26 January 2017, 18:00 PM

38 Bangladeshi firms to join trade fair in Germany

Thirty eight Bangladeshi companies will join a five-day trade fair for consumer goods—Ambiente—organised by Messe Frankfurt in Germany.
26 January 2017, 18:00 PM

5 tonnes of rice seeds to be shipped to Bhutan

The government plans to ship 5 tonnes of rice seeds to Bhutan to help the country produce more paddy based on quality seeds, said a senior official of agriculture ministry.
26 January 2017, 18:00 PM

Johnson & Johnson says to buy pharma group Actelion for $30b

US pharmaceuticals giant Johnson & Johnson on Thursday announced it was buying Europe's biggest bio-pharmaceutical firm, Switzerland's Actelion, for $30 billion (27.9 billion euros) in a deal that creates a new spin-off company.
26 January 2017, 18:00 PM

Germany expects current account surplus to shrink slightly

Germany's record current account surplus is likely to shrink this year because a slowdown in global trade is dampening export growth while strong domestic demand is pushing up imports, Economy Minister Sigmar Gabriel said on Thursday.
26 January 2017, 18:00 PM

EU calls for China to take concrete steps in opening market

The European Union urged China on Wednesday to make "concrete progress" in opening its markets to global investment, after Chinese President Xi Jinping decried protectionism in a speech at the recent World Economic Forum in Davos, Switzerland.
25 January 2017, 18:00 PM

Indonesia reconsidering TPP plans, eyes bilateral deals

Indonesia is interested in pursuing a bilateral economic partnership with the United States after the world's biggest economy abandoned the Trans-Pacific Partnership (TPP) accord, an Indonesian official said on Wednesday.
25 January 2017, 18:00 PM

Japan cool to inviting China into TPP as Abe repeats free trade mantra

Japan is cool to the notion of inviting China to join a pan-Pacific trade pact abandoned by US President Donald Trump, fearing such a step would boost Beijing's clout and water down what was meant to be the 'gold standard' for rules of trade.
25 January 2017, 18:00 PM

Novartis to buy back $5b in shares

Swiss pharmaceutical giant Novartis announced Wednesday a $5.0 billion share buyback even though competition from generics ate away at sales and earnings last year.
25 January 2017, 18:00 PM

Taiwan economy rallies thanks to electronics demand

Taiwan's economy notched up its best performance in almost two years in the final quarter of 2016, with strong demand for electronics offsetting a plunge in mainland tourists, according to official data released Wednesday.
25 January 2017, 18:00 PM