PARIS: When Boeing launched its 737 MAX jetliner in response to Airbus’s record-selling A320neo, a wave of poker-faced satisfaction spread through Airbus headquarters in France. Its reasons for cheering Boeing’s decision to make a similar jet, based on a similar strategy of engine efficiencies, partly explain why Airbus is wary
NEW YORK: The stock market surge since the start of the year that has sent the benchmark S&P 500 index up to new record highs is leaving behind one sector that typically outperforms in an expanding economy: energy. A sharp rebound in the price of oil has not been enough
BEIJING: Factory activity in China expanded for a second straight month in April but at a much slower pace than expected, an official survey showed yesterday, suggesting the economy is still struggling for traction despite a flurry of support measures. The unexpected loss of momentum at the start of the
SAN FRANCISCO: Google parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union. Alphabet said that profit in the first-quarter fell 29 percent to $6.7 billion on revenue that climbed 17 percent
WASHINGTON: US consumer spending increased by the most in more than 9-1/2 years in March as households stepped up purchases of motor vehicles, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months. The surge in consumer spending reported by the Commerce
COLOMBO: Sri Lankan security officials have warned that Islamist militants behind Easter Sunday’s suicide bombings are planning imminent attacks and could be dressed in military uniforms. The militants were targeting five locations for attacks on Sunday or yesterday, security sources said. “There could be another wave of attacks,” the head
JAKARTA: Ten days after Indonesia held the world’s biggest single-day elections, more than 270 election staff have died, mostly of fatigue-related illness caused by long hours of work counting millions of ballot papers by hand, an official said yesterday. The April 17 elections were the first time the country of
HONG KONG: Thousands of people marched on Hong Kong’s parliament yesterday to demand the scrapping of proposed extradition rules that would allow people to be sent to mainland China for trial – a move which some fear puts the city’s core freedoms at risk. Opponents of the proposal fear further
SYDNEY: Australian Prime Minister Scott Morrison, trailing in opinion polls ahead of a May 18 election, yesterday campaigned on the hot-button issue of immigration, promising to cut annual migrant numbers and freeze the country’s refugee intake. The pace of migration and the over crowding of Australia’s major cities is a
BEIJING: Criticisms of China’s intellectual property (IP) protection “lack evidence” and IP infringement is a worldwide problem, the head of China’s National Intellectual Property Administration said yesterday. Critics also ignored the significant progress China has made on IP protection, Shen Changyu told a press conference in response to a question
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