Business  October 20, 2014
Oil prices retreat after brief recovery
Oil prices fell after a brief rebound, with the market weighed down by weak demand growth in an oversupplied marketOil prices slid on Monday after a brief rebound late last week, with the market weighed down by weak demand growth and a glut of global supplies.US benchmark West Texas Intermediate for delivery in November slipped 39 cents to $82.36 a barrel compared with Friday's close.Brent North Sea crude for December shed $1.03 to stand at $85.13 a barrel in l...  Full Story
European markets start week in the red
European stock markets slid on Monday as traders took profits and eyed global economic worries on the eve of crucial Chinese growth figures, dealers said.European stock markets moved lower on Monday as traders took profits and eyed global economic worries on the eve of crucial Chinese growth figures, dealers said.London's benchmark FTSE 100 index gave up 0.68 percent to end the day at 6,267.07 points, while in Paris the CAC 40 shed 1.04 percent to 3,991.24 points.Frankfurt's DAX 30 index also fell 1...  Full Story
Spain's Ferrovial bids to buy Australian Transfield
Spanish construction giant Ferrovial offered 687 million euros ($875 million) to buy Australian firm Transfield Services, which rejected the bid as poor value, the companies said Spanish construction giant Ferrovial offered 687 million euros ($875 million) to buy Australian firm Transfield Services, which rejected the bid as poor value, the companies said on Monday.But Transfield held open the door for further possible negotiations.It was the latest move in Ferrovial's overseas expansion after it struck a deal last week to ...  Full Story
BIS chief economist warns of dangers of easy money
A car passes by the Bank for International Settlements (BRI) in Basel on May 10, 2010The current ultra-expansive monetary policy around the world could pose a threat to financial stability, the chief economist of the Bank of International Settlements (BIS) in Basel warned on Monday.In an interview with the German daily Die Welt, the chief economist of the Basel-based BIS, Claudio Borio, warned of the dangers of easy money."From a g...  Full Story
Germany's Metro reports 4 percent fall in sales
German retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestmentsGerman retail giant Metro AG on Monday reported a four-percent decline in its yearly sales to 63 billion euros ($80 billion), largely because of a strong euro and divestments.However the group said it would still meet its pre-tax operating profit of 1.75 billion euros for its 2013-2014 financial year, the full details of which would be given on Dec...  Full Story
Electrolux profit soars 42 percent after cost-cutting programme
Swedish electrical appliance maker Electrolux reported its third-quarter net profit soared 42 percent to 933 million krona (102 million euros, $130 million) thanks to a cost-cutting programme started at the end of last yearSwedish electrical appliance maker Electrolux reported its third-quarter net profit soared 42 percent to 933 million krona (102 million euros, $130 million) thanks to a cost-cutting programme started at the end of last year.Sales over the quarter increased 5.6 percent to 28.8 million krona, slightly better than the 28.4 million krona expected by an...  Full Story
SAP cuts outlook despite profit rise in Q3
SAP, the German software giant, said Monday it was trimming its profit forecast for the whole of 2014, despite a strong rise in revenues and profits in the third quarter.SAP, the German software giant, said Monday it was trimming its profit forecast for the whole of 2014, despite a strong rise in revenues and profits in the third quarter. SAP said in a statement it expects full-year operating profit to be in a range of 5.6-5.8 billion euros ($7.1-7.4 billion), lower than its previous forecast of 5.8-6.0 billion eur...  Full Story
British economic growth to slow, says leading forecaster
The British economy will slow down sharply next year due to political uncertainty and a potential referendum on membership of the EU, a leading forecaster said on MondayThe British economy will slow down sharply next year due to political uncertainty and a potential referendum on membership of the EU, a leading forecaster said on Monday.In an autumn forecast released after a turbulent week on world markets, EY ITEM Club said gross domestic product growth would slow to 2.4 percent in 2015, after 3.1 percent growth ...  Full Story
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