Business

Column: India’s thirst for gasoline helps spur global oil demand – John Kemp

India’s gasoline consumption is surging and has become one of the fastest-growing components of global oil demand. With other parts of the global economy struggling, continued growth in gasoline consumption in India, together with the United States and China, has become one of the most important indicators for global oil prices.  Saudi Arabia and other members of the Organization of ... Read More »

Starboard’s bid to remove Yahoo board

The hedge fund owns about 1.7 per cent of Yahoo and said it would nominate nine candidates Activist hedge fund Starboard Value LP moved to overthrow the entire board of Yahoo Inc including Chief Executive Marissa Mayer, who has struggled to turn around the company in her nearly four years at the helm. Starboard, which has been pushing for changes ... Read More »

Clients want to run better, and run different

Acceptance of outcome-based models is evolving. We are seeing some traction among clients. Ask him what problems in his company keep him awake at night and Gordon Coburn, President at the software services firm Cognizant tells you, “Actually, I sleep quite well!” He refers to his company’s strategy as rock-solid, and its employees as ‘incredibly motivated’. “We have been successful ... Read More »

Aldi scraps name of ‘rape yellow’ paint after complaints from sexual assault victim

Aldi has changed the name of one of its paint colours after a sexual assault victim said it made her choke. “Rape yellow” paint caused an Aldi woman to become “furious and upset” when she saw it in a store in Coventry. The customer, who cannot be named for legal reasons, told theCoventry Telegraph: “I looked at the paint and thought it can’t ... Read More »

Brexit campaigners say Easter eggs will be cheaper if Britain leaves EU

Leaving the EU could cut the cost of Easter eggs, pro-Brexit campaigners claimed. Unilateral trade deals with chocolate-producing countries Indonesia, Nigeria and Brazil could remove “punitive tariffs” imposed by Brussels on imports of cocoa-based sweet treats, Vote Leave said. As much as £1.28 of the cost of a £10 egg was accounted for by such charges. it calculated, which are ... Read More »

EU exit backed by 250 business leaders

Brexit campaigners have hit back in the battle of the endorsements – unveiling a group of 250 business leaders and entrepreneurs who have signed up as backers of the campaign to leave the European Union. In a repost to pro-EU supporters, who recently released a list of 30 FTSE companies who publicly recommended a remain vote, the main anti-European campaign ... Read More »

China industrial firms’ Jan-Feb profits return to growth

China’s industrial profits returned to growth in the first two months of 2016, despite weakening business conditions and slowing economic growth in the world’s second-largest economy. Profits earned by Chinese industrial firms in January and February combined rose 4.8 percent from a year earlier, totaling 780.7 billion yuan ($119.8 billion) in the two-month period, the National Bureau of Statistics (NBS) ... Read More »

ECB leads the big parade, Fed strolls the other way

When Morocco’s central bank cut interest rates on March 22, it joined a parade of 46 others that have eased monetary policy at least once since the beginning of 2015. Perhaps more trenchantly, it was also the 15th time this year – still less than a quarter old – that a central bank has eased policy in some form. Taiwan ... Read More »

Markets in Asia diverge in late trade on Thursday

Markets in Asia went in different directions in afternoon trade on Thursday, despite an earlier across-the-board boost from an overnight rise in the price of oil. Brent crude, which is seen as the international benchmark, climbed 3.3% to $40.94 a barrel. And the price of West Texas crude rose 5% to $38.32 a barrel. Japan’s Nikkei 225 closed up 1.26% ... Read More »

New Zealand cuts interest rates for the fifth time since June

In a surprise move, the Reserve Bank of New Zealand (RBNZ) has cut its lending rates for the fifth time since June last year to a record low of 2.25%. The bank said the 25 basis point cut was due to global growth worries and weaker demand from China – an important trade partner. New Zealand is the world’s largest ... Read More »