In order to see Honda Motor Co’s pet aviation project recoup its development costs, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age after three decades building an airplane from scratch. Richard Aboulafia, vice president of analysis at aerospace consulting firm Teal Group, thinks it has likely spent…
It has been done by Germany’s state-owned development bank KfW once again. It had erroneously transferring hundreds of millions of euros to Lehman Brothers Holdings Inc. the day the U.S. firm filed for bankruptcy which had made it gain publicity. According to people familiar with the matter, because of a technical glitch that repeated single payments multiple times,…
While becoming the embattled U.S. theme-park operator’s largest shareholder, China’s Zhonghong Zhuoye Group Co. agreed to acquire a 21 percent stake in SeaWorld Entertainment Inc. from Blackstone Group LP. By expanding internationally, SeaWorld’s plan to restore growth is bolstered by the deal. To create its first park outside the U.S. Rivals such as Six Flags Entertainment Corp.…
The place where energy giants BP Plc and Reliance Industries Ltd. found a sea of trouble, is being ventured into by India’s Oil & Natural Gas Corp. Tapas Kumar Sengupta, ONGC’s director for offshore operations said that to help boost natural gas output and raise crude flows, the state-run company plans to invest in a region off…
A market with an unambiguous message, that their work is far from done, is faced by OPEC and allies reviewing the impact of their oil cuts this weekend. Talks will be overshadowed by the question of whether the persisting glut requires the curbs to be extended beyond the summer, as producers meet in Kuwait to…
According to an index of 15 cities compiled by a relocation company, Dublin has come up as the best destination in the European Union for London-based bankers who could be forced to move after Brexit. Movinga, the survey firm, said on its website that the cost of renting a flat in Dublin is markedly cheaper than…
The huge base of iPhone users could help AppleInc to compete with Snap Inc’s Snapchat and Facebook Inc’s Messenger even as the tech giant is inching one step closer to fully engaging in the messaging world with the release of a new video app called Clips. Complete with colorful emoji symbols, customers are allowed to…
Even as 2017 is turning out to be another good year for most of the mining industry, Lommin Plc. is a big exception. Just 15 months after raising about $400 million from shareholders, it is burning through cash to stay afloat and investors are losing confidence in the world’s third-largest platinum producer. Including higher costs…
According to the Saudi firm’s CEO, “the next level” of strategic collaboration between the two countries is represented by just a days-old agreement between a major Saudi company and one of China’s largest enterprises. An agreement was signed on Thursday with Chinese state-owned Sinopec Group for new joint projects by Saudi Basic Industries Corporation (SABIC), a manufacturing company…
It could soon be more expensive to visit one of the world’s hottest and most expensive holiday destinations. Iceland’s government is considering ways of raising taxes in the tourism sector being overwhelmed by a record number of visitors in spite of its far-flung location. Limiting sightseers’ access to the country’s most popular spots wld be…
