VIENNA: Shares in Osram soared after Austrian sensor maker AMS triggered a bidding war for the German lighting group, saying it was ready to trump Bain and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion). AMS said it could create a global leader in
SINGAPORE: Caught between a Sino-US trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters. The slump in a sector that made up nearly a third of Singapore’s manufacturing output last
NEW YORK: As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on US consumers as top retailers begin reporting quarterly results this week and key consumer sentiment and retail sales data is released. Investors and analysts are anxious about the
LONDON: China’s decision to let its yuan plunge through a previously sacrosanct level means a titfor-tat trade conflict could morph into a currency war, injecting volatility into long-dormant foreign exchanges and piling pressure on world markets. Beijing last Monday allowed the yuan to breach the 7 per dollar level for
TOKYO/SHANGHAI: The US government’s decision to label China a currency manipulator after Beijing allowed the yuan to weaken past the symbolic 7-perdollar level has raised questions about how tightly managed the currency is, and its true value. The following explains the working of China’s currency regime. How does China manage
RUCKERSVILLE (Virginia): Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise control. The global market for advanced driver assistance systems, known in the industry as Adas, is expected to
PARIS/MUNICH: Airbus is poised to open a new assembly line for the A321neo in Toulouse, France, easing a grip on production of the hot-selling jetliner enjoyed by workers in Germany and accelerating an industrial rethink caused by the demise of the much larger A380. A formal decision on how to
MOSCOW: Russia’s top gas producer Gazprom and a raft of other major firms have added to calls for the banking sector to use domestic ratings in implementing new financial regulations, saying this would ease pressure on banks and cut lending rates. Officials have challenged the way the central bank is
BEIJING/HONG KONG: China is sharpening its scrutiny of small banks’ shareholders amid fears that loans from the lenders to big investors could prove a weak point in the country’s financial system, jolted by the state’s recent rescue of one lender and a takeover of another. While nominally small, China’s numerous
KOCHI/BENGALURU: The death toll from floods in India’s states of Karnataka, Kerala and Maharashtra rose to 95, official figures showed yesterday, as heavy rain and landslides forced hundreds of thousands to evacuate their homes. Seasonal monsoon rains from June to September are a crucial lifeline for agrarian Indian society, delivering
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