Business

Exclusive – BMW bosses to skip Paris show to thrash out electric car strategy

BMW’s (BMWG.DE) management board is skipping the Paris Motor Show to hold talks aimed at breaking a deadlock over whether to produce new electric cars, including a battery-powered Mini, sources familiar with the matter told Reuters. Spurred on by the success of U.S. rival Tesla (TSLA.O), which has received almost 400,000 pre-orders for its Model 3 car, German carmakers Mercedes-Benz ... Read More »

UK fraud agency charges three in Tesco accounting probe

Britain’s Serious Fraud Office has charged three former senior Tesco (TSCO.L) executives with fraud in its investigation into accounting practices at the country’s biggest supermarket chain. A 250 million pound overstatement of Tesco’s first-half profits in August 2014, due to booking deals with suppliers too early, led to the suspension of eight senior members of staff in the following months. ... Read More »

German exports fall in July after global demand weakens

German exports fell sharply in July, posting their steepest drop in nearly a year, after the country’s goods saw lower global demand. Seasonally adjusted exports fell 2.6% compared with the month before, the biggest monthly drop since August 2015. The figures from Destatis followed economic data that painted a gloomy picture for German manufacturing. Industrial orders barely rose in July ... Read More »

UK trade deficit shrinks in July

The UK trade deficit, which reflects the difference between imports and exports, shrank to £4.5bn in July from £5.6bn the previous month, the Office for National Statistics (ONS) said. The narrowing of the gap reflected a 2% increase in exports of goods and services, taking them to £43.8bn. Imports fell by 0.5% to £48.3bn. Although the pound fell sharply after ... Read More »

China August Imports Rise for First Time in Nearly Two Years

China’s imports unexpected rose in August for the first time in nearly two years while exports fell at a more modest pace, suggesting demand at home and abroad may finally be perking up and putting the world’s second-largest economy on a more balanced footing. Exports fell 2.8 percent from a year earlier, the General Administration of Customs said on Thursday, ... Read More »

Vodafone, Idea Cellular in ‘exploratory’ mega merger talks: Report

Telecom majors Vodafone and Idea Cellular are speculated to be undertaking “exploratory” talks for a mega merger, which, if executed, will create the biggest telecom firm in India. Despite both the companies denying rumours of a merger, CNBC-TV18 cited insider sources to suggest the possibility of a merger after the two telcos have assessed the challenges and opportunities of such a ... Read More »

Tata Global Beverages may sell its China operations

Tata Global Beverages on Wednesday said it might sell its loss-making China subsidiary. The company’s Chinese subsidiary, called Zhejiang Tata Tea Extraction Company, reported a net loss of Rs. 15 crore in the previous financial year. “For China, we are exploring different options, which could be restructuring or a sale,” Cyrus Mistry, the Tata Group Chairman, said at Tata Global ... Read More »

TOP 10 CITIES FOR WOMEN-OWNED BUSINESSES IN AMERICA

The financial website WalletHub wanted to know what places offered the best environment for women entrepreneurs . So it looked at the 100 largest metropolitan regions in the country. It compared them across 10 key metrics, indicating friendliness toward female entrepreneurs, and included measures such as average revenue growth of women-owned businesses, presence of women’s business centers and industry variety ... Read More »

MasterCard faces $18.6 billion UK suit over fees

 MasterCard, the world’s second largest credit and debit card issuer, is being sued for $18.6 billion in the United Kingdom. Court documents filed in London on Thursday allege the firm charged unlawfully excessive fees on millions of transactions when customers paid for items in stores between 1992 and 2008, resulting in higher prices for consumers. The lawsuit was filed at ... Read More »

Oil falls more than 3 percent; U.S. crude draw seen as glitch

Oil prices fell more than 3 percent on Friday, paring the previous session’s rise as traders noted that a tropical storm was behind this week’s unexpected slump in U.S. crude inventories. The market remained on course for a weekly gain of nearly 5 percent, its first gain in three weeks. Traders cited hopes for a global deal on stabilizing crude ... Read More »