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Dollar holds firm against yen in Asia

AFP FILE PHOTO

The dollar consolidated its gains against the Japanese yen in Asian trade on Monday after a stronger-than-expected US jobs report offset concerns about the possible phase-out of the Fed’s monetary easing programme, analysts said.

Posted: July 8th, 2013 in Latest Business Stories | Read More »

France’s Hollande threatens nationalization in Mittal row

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French Minister for Industrial Recovery Arnaud Montebourg leaves Pollutec, an international exhibition of environmental equipment, technologies and services, in Lyon, central France, Tuesday, Nov. 27, 2012. Many European countries with lagging economies are trying to draw in foreign investors. But in France, a Socialist minister says he wants to kick the world's biggest steel maker out of the country, accusing it of lying to the government.  AP PHOTO/LAURENT CIPRIANI

PARIS—French President Francois Hollande threatened Tuesday to nationalize a plant owned by steelmaker ArcelorMittal in an increasingly heated dispute in which ministers have said the multinational is no longer welcome in the country.   Moments before talks steel tycoon Lakshmi Mittal, Holland said that nationalizing ArcelorMittal’s plant in northeastern France remained on the table.   [...]

Posted: November 28th, 2012 in Latest Business Stories | Read More »

London mayor mocks France over Mittal comments

In this photo taken Aug, 6, 2012, a general view of the Arcelor Mittal Factory in Hayange-Florange, eastern France. London's mayor joked that revolutionaries had taken over Paris and told India's investors Tuesday, Nov. 27, 2012, to look to the British capital instead, amid a row between the French government and India-born tycoon Lakshmi Mittal.  AP PHOTO/MATHIEU CUGNOT

NEW DELHI, India—London’s mayor joked that revolutionaries had taken over Paris and told India’s investors Tuesday to look to the British capital instead, amid a row between the French government and India-born tycoon Lakshmi Mittal.   On Monday French Industrial Renewal Minister Arnaud Montebourg said he did not want steel giant ArcelorMittal, controlled by Mittal, [...]

Posted: November 28th, 2012 in Latest Business Stories | Read More »

US not ready for Basel III bank rules—Treasury

US Treasury Secretary Tim Geithner  AFP PHOTO/JEWEL SAMAD

WASHINGTON—The US Treasury announced Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards.   “Many industry participants have expressed concern that they may be subject to a final regulatory capital rule on January 1, 2013, [...]

Posted: November 10th, 2012 in Latest Business Stories | Read More »

Asian markets extend losses on US fears

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A man walks outside a securities firm in Tokyo Thursday, Nov. 8, 2012. Asian markets fell on Friday, extending their losses from the previous day as fears the United States is headed for another economic crisis sent Wall Street diving again and dealers running.  AP PHOTO/JUNJI KUROKAWA

HONG KONG—Asian markets fell on Friday, extending their losses from the previous day as fears the United States is headed for another economic crisis sent Wall Street diving again and dealers running.   The yen remained elevated after Barack Obama’s re-election as US president stoked concerns of political gridlock in Washington with a “fiscal cliff” [...]

Posted: November 9th, 2012 in Latest Business Stories | Read More »

Google plunges on shock Q3 report; Dow ends flat

In this Wednesday, Oct. 17, 2012, file photo, people attend a workshop, "New York Get Your Business Online," at Google offices in New York. Google Inc.'s stock plunged suddenly on Thursday, Oct. 18, 2012, after a contractor prematurely released the search company's third-quarter earnings report.  AP PHOTO/MARK LENNIHAN

NEW YORK—Google’s shares plunged Thursday after a surprise drop in earnings in a prematurely released quarterly report, but while the Nasdaq sank the Dow avoided being pulled down as well.   Google shares closed down 8.0 percent at $695.00, rebounding slightly after hitting a 10 percent floor earlier following the unintended release of its disappointing [...]

Posted: October 19th, 2012 in Latest Business Stories | Read More »

World Bank targets conflict in war against poverty

WASHINGTON – Conflict and violence are holding back global economic growth and trapping 1.5 billion people in dire poverty, the World Bank said Sunday, calling for an international effort to break the cycle. In countries affected by repeated cycles of political and criminal violence, poverty rates are 20 percentage points higher than in other countries, [...]

Posted: April 11th, 2011 in Editor's Pick,Latest Business Stories | Read More »

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