London / Bloomberg Chancellor of the Exchequer George Osborne is under pressure to reverse his plans to liberalize the U.K.’s Sunday trading laws, with 23 Conservative members of Parliament saying they’re ready to vote against the government. In the Enterprise Bill, due to be debated by the House of Commons on Tuesday and Wednesday, local councils in England and Wales ...
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BMW sees its future shift to the ultimate self-driving machine
MUNICH / Bloomberg BMW AG, which became the world’s largest maker of luxury cars by focusing on Autobahn thrills, is shifting gears to automated driving as urbanization and changing attitudes toward cars redefine transportation. “In the future, ‘Sheer Driving Pleasure’ will also be defined as liberating drivers through automation,†BMW said on Monday in a statement as it celebrated turning ...
Read More »â€˜Leave EU’ would boost UK bonds, says JPMorgan asset management
London / Bloomberg Holders of the U.K.’s government bonds need not fear the prospect of Britain voting to leave the European Union as they stand to benefit from any economic woes that follow the vote, according to one of the world’s largest money managers. “If a ‘Brexit’ happened it would be very likely the Bank of England would ease policy ...
Read More »For Finnish workers, € means longer hours & lower pay
Bloomberg Few Finns probably thought that adopting the euro would mean more work for less pay. Yet trade unions are now getting ready to sign off on a deal that will cut workers’ income and raise working hours. Unveiled last week, it’s designed to boost competitiveness as the Nordic nation struggles within the constraints of the euro zone. The board ...
Read More »Hong Kong home sales tumble 70% as slowdown intensifies
HONG KONG / Bloomberg Hong Kong residential home sales plunged 70 percent in February from a year earlier to a 25-year low, as falling prices and economic uncertainty deterred buyers. Last month, 1,807 homes were sold in Hong Kong, compared with 6,027 a year earlier, according to government statistics. Home sales fell from 2,045 in January, the data show. “The ...
Read More »Shanghai property market is ‘overheated,’ top city official says
BEIJING / Bloomberg Shanghai’s most-senior official said the city’s property market has “overheated†and should be more tightly controlled after a recent surge in residential housing prices. “An irrational and overheated sentiment have emerged in the Shanghai real estate market, and these sentiments have raised home prices,†Han Zheng, the city’s Communist Party chief, said at briefing during annual legislative ...
Read More »5 health centres to be set up in Qatar’s western region
Doha / EMIRATES BUSINESS With a rapid increase in the number of people using primary healthcare services, a major expansion in the facilities is on the anvil in the Western region of the country that comprises a large geographical area. The new appointment system through the Wayyak telephone service has helped organise the functioning of health centres and improve performance. ...
Read More »Trump tower funded by rich Chinese who invest cash for visas
Bloomberg Throughout his presidential campaign, Donald Trump has attacked China and warned about the dangers of deficient immigrant screening. “They’ve taken our jobs, they’ve taken our money, they’ve taken everything,†he said of China in a speech late last month. He has called for a revamping, even a freezing, of the immigration system, but says he would make an exception ...
Read More »Boeing, Paramount to join hands on multi-role aircraft
ABU DHABI / EMIRATES BUSINESS Boeing and the Paramount Group, the South African based global defence and aerospace business, have expanded their 2014 agreement to cooperate on an advanced mission system for a variant of the Advanced, High Performance, Reconnaissance, Light Aircraft (AHRLAC). A high-wing, two-seat aircraft, AHRLAC is designed to incorporate advanced intelligence, surveillance and reconnaissance (ISR) capabilities and weapons ...
Read More »United’s Munoz returns as CEO after five months
BLOOMBERG United Continental Holdings Inc. Chief Executive Officer Oscar Munoz, who underwent a heart transplant after falling ill five months ago, will return to full-time duty next week. Munoz, 57, had been participating in all major corporate decisions during his recovery and has been meeting with employees and shareholders, the airline said in a statement. He joined in on a ...
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