Flood damage from Harvey is likely to reach into the tens of billions and the storm is expected to cause south Texas’ economy to shrink, at least in the near term. Harvey is swamping refineries along the Gulf Coast, leading to higher...
Expedia CEO Dara Khosrowshahi has been named Uber's top executive, taking the difficult job of mending the dysfunctional ride-hailing giant and turning it from money-losing behemoth to a profitable company. Uber's fractured eight-...
The Venezuelan government on Monday claimed a popular mandate to dramatically recast the country's political system even as condemnations of the process poured in from governments around the world and the opposition at home. The United...
A federal judge has convicted former Brazilian president Luiz Inacio Lula da Silva of corruption and money laundering and sentenced him to nine and a half years in jail. Lula will remain free while an appeal is heard. The former president...
Microsoft is laying off thousands of employees in a shake-up aimed at selling more subscriptions to software applications that can be used on any internet-connected device. Most of the people losing their jobs work in sales and are located...
The price of oil slumped to its lowest level of the year on Tuesday. Benchmark US crude lost 97 cents, or 2.2 per cent, to settle at US$43.23 per barrel, and Brent crude, the international standard, fell 89 cents to US$46.02 per barrel. The...
The United States Federal Reserve has raised its benchmark interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy. The Fed also announced plans to start gradually paring...
The inflation rate in the United Kingdom has risen to its highest level in four years, as the drop in the pound since the Brexit vote pushes up the cost of living. The Office for National Statistics said Tuesday that consumer prices were up...
Spanish energy company Repsol and London-based BP say they have found a gasfield in the Caribbean containing an estimated two trillion cubic feet of natural gas — equivalent to two years of Spanish demand. Repsol says it is the largest volume...
Britain filed for divorce from the European Union on Wednesday, with fond words and promises of friendship that could not disguise the historic nature of the schism — or the years of argument and hard-nosed bargaining ahead as the...
The United Kingdom filed for divorce from the European Union on Wednesday, overturning four decades of integration with its neighbours, demolishing the notion that EU expansion is inevitable and shaking the foundations of a bloc that is facing...
The United States Federal Reserve has raised its benchmark interest rate for the second time in three months and signalled that any further hikes this year will be gradual. The move reflects a consistently solid US economy and will likely mean...
The United States announced charges Wednesday against two Russian intelligence officers and two hackers, accusing them of a mega data breach at Yahoo that affected at least a half-billion user accounts. The hack targeted the email accounts of...
General Motors is selling its unprofitable European car business to the French maker of Peugeot, marking the American company's retreat from a major market and raising concerns of job cuts in the region. With the €2.2 billion (US$2.33...
Published:Tuesday | February 28, 2017 | 12:00 AMAP
Usually people don't notice the "cloud" — unless, that is, it turns into a massive storm. Which was the case Tuesday when Amazon's huge cloud-computing service suffered a major outage. Amazon Web Services, by far the world...
For 82 years, accounting and consulting firm PwC has enjoyed a reputational boon from handling the balloting process at the Academy Awards. Now it’s hard-won image as a dependable partner is under threat. The company has apologised for a...
Published:Wednesday | February 22, 2017 | 12:00 AMAP
The first multilateral trade agreement reached under the World Trade Organization since it was created over a generation ago has taken force, aiming to streamline cross-border trade to the benefit of the developing world in particular. WTO...
Published:Thursday | February 16, 2017 | 12:00 AMAP
The US$3.3 billion acquisition by SoftBank Group Corp, the Japanese telecommunications, internet and solar energy giant, of Fortress Investment Group marks tycoon Masayoshi Son's latest step in building an investment empire. New Fortress Energy...
Prosecutors in Panama say they have formally arrested the partners of a law firm involved in last year's ‘Panama Papers’ scandal, in which thousands of pages of documents related to offshore accounts were leaked. The arrests...
Published:Wednesday | January 25, 2017 | 12:00 AMAP
The Dow Jones industrial average crossed the 20,000 mark for the first time Wednesday, the latest milestone in a record-setting drive for the stock market. Strong earnings from Boeing and other big companies helped push the Dow past the threshold...
Samsung says a thorough investigation into the fire-prone Galaxy Note 7 phone has confirmed widely held suspicions that its batteries were to blame, marking a first but important step towards restoring consumer confidence. Samsung announced...
After months of repeating the mantra that ‘Brexit means Brexit’, Prime Minister Theresa May is set to reveal details of the United Kingdom’s closely guarded plans for leaving the European Union, in a speech that has already...
The smoothie has become ubiquitous because it makes healthy eating sound easy and attainable. I'll admit to you right here: I love smoothies - throwing a bunch of things into a blender and then sipping on my breakfast.The more nutrients I can cram...
