As manufacturer BAE Systems Plc struggles to pin down a follow-on order from Saudi Arabia, the biggest export customer for the Mach 2 jet, U.K. output of the Eurofighter Typhoon warplane may be cut. With final assembly at Warton in northwest England, the cornerstone of a military-aircraft business that employs 12,500 people at BAE is…
While announcing an additional $1 billion share buyback, Global miner Rio Tinto noted that a rebound in iron ore prices had helped the mining giant to report its first-half profit that more than doubled compared to what it had generated a year earlier. The company made the announcement on Wednesday. However, Thomson Reuters analysts’ forecast of $4.19…
It has become a lot harder for Venezuela to dig itself out of the giant economic, political and social hole it’s in by the government of the country. In order to create a new legislative body that supersedes others, including the opposition-led National Assembly, Venezuela held a highly contentious vote on Sunday. The National Constituent Assembly…
According to one oil analyst, the potential but unlikely winners that could emerge from the U.S. sanctions on Venezuela’s vital oil sector could be the countries of China and India. Following Venezuela’s controversial election for a new Constituent Assembly on Sunday, President Donald Trump along with the Treasury Department of the U.S. has taken “strong and swift…
Ahead of a controversial national vote on Sunday that has sparked severe unrest in that country, some hedge funds are taking big bets on Venezuelan debt. Despite the threat of more sanctions by the U.S. and other nations, particularly against Venezuela’s state-owned oil company known as Petroleos de Venezuela, S.A., or PDVSA and widespread condemnation, the…
In allegations that widen the scope of the latest scandal to hit the nation’s auto industry, allegations of colluding for nearly two decades to limit the pace of technological advances in their vehicles and stifle competition have bene placed against German’s major automakers in a U.S. lawsuit of acting as a cartel. According to a…
Even as fears n sparked that Southeast Asia’s largest economy could embark on a Philippine style drug war, the country has expressed a willingness to let authorities shoot down drug dealers, having come under pressure from widespread illegal narcotics distribution. Indonesian President Joko Widodo or Jokowi recommended police to shoot drug traffickers who resisted arrest and said that…
A person’s chances of developing diabetes could be significantly get reduced of that person consumes alcohol three to four times per week, claimed a new study. While issuing warning that clear spirits, such as gin and vodka, could substantially increase a woman’s chances of succumbing to the condition, the researchers in the study have identified…
As the Persian Gulf carriers grapple with the impact of terrorism on global traffic flows and a low oil price that’s crimped local travel, the full extent of the pressures facing them were revealed after Etihad Airways recorded a $1.87 billion annual loss. A $808 million hit from the reduced value of stakes in so…
Samsung’s chip division could be almost twice the size of Intel’s entire business after it propelled Samsung to record second quarter earnings. Accounting for more than 57 percent of its entire earnings, operating profit of 8.03 trillion Korean won ($7.21 billion) in its semiconductor division in the three months to June was reported by the South Korean electronics…
