Business  June 29, 2016
British car industry drives home EU benefits
A British car industry body says growth of the sector depends on economic certainty and access to the single marketBritain's car sector on Wednesday said its growth depended on the country keeping "unrestricted access" to the European single market -- a situation thrown into doubt by Brexit."Our growth depends on certainty and continued open and reciprocal access to the 100-plus markets with which the UK automotive industry so successfully trades," Mike Hawes, ...  Full Story
Toyota recalling 3.37mn vehicles over defects
The most affected models in ToyotaToyota said Wednesday it is recalling 3.37 million vehicles globally over a pair of defects, in the latest hit for a Japanese auto industry hit by fuel-efficiency scandals and an exploding airbag crisis.The most affected models in Toyota's recall include its Prius hybrid, Corolla sedan, and luxury Lexus brand, with the vehicles mostly sold in Japan...  Full Story
Dubai awards Alstom-led consortium $2.88 bn metro extension
The Dubai Metro was opened in 2009Dubai's transport authority announced Wednesday it had awarded a French-led consortium a $2.88 billion contract to extend its metro network to the site of the Expo 2020 world trade fair.The consortium, led by France's Alstom Conglomerate and also including Spain's Acciona and Turkey's Gulermak, will construct a 15 kilometre (nine mile) extension to...  Full Story
Asia markets build on gains as stimulus talk swirls
In a sign that currency traders have calmed following the Brexit falls, higher-yielding, riskier, currencies have edged up in AsiaAsian markets rose again Wednesday on hopes that authorities will unveil fresh stimulus to counter the effects of Britain's shock vote to leave the European Union.After Friday's battering, regional investors have this week led a return to global equities and higher-yielding currencies.However, analysts warned there would likely be a period of volat...  Full Story
German consumer morale shrugs off Brexit fears: survey
Posters reading "Farewell" and books "The EU an Obituary" by John R Gillingham are on display at a book shop window in BerlinConsumer confidence in Germany is on the rise as households feel that robust domestic demand, rising wages and low inflation will keep Europe's biggest economy on a growth path, a poll found on Wednesday. "In contrast to the weather, German consumer sentiment is showing itself from its sunny side," market research company GfK said in a statement. "...  Full Story
European stocks extend recovery at open
Pedestrians pass the entrance to the London Stock Exchange in central london Europe's main stock markets rallied at the start of trading on Wednesday, building on the previous session's strong gains as fears over Brexit ease.London's benchmark FTSE 100 index jumped 1.6 percent compared with Tuesday's close to open at 6,236.68 pointsIn the eurozone, Frankfurt's DAX 30 won 1.2 percent to 9,557.69 points and the Paris CAC 40 g...  Full Story
Global turmoil, drought and fish deaths slow Vietnam economy
Tonnes of dead fish and other marine life began washing up on central Vietnamese¬†shores two months ago and continued to appear for two to three weeksVietnam's economy slowed in the first half of 2016, official figures showed Wednesday, with a severe regional drought and a spate of fish deaths adding to losses caused by turmoil in global markets. GDP growth dropped to 5.52 percent in the first six months compared to 6.32 percent in the same period last year. The country grew at its fastest pace ...  Full Story
Airbnb to be valued at $30 bn after additional investment: report
Airbnb has been rapidly expanding in new markets over the last two years, with a 700 percent increase in business from Chinese travellersAirbnb is in talks to secure a new round of investment that would value the company at around $30 billion, the New York Times reported on Wednesday. If it succeeds in securing the new funds, the short-term home rental company will have tripled its valuation in two years, the Times said citing anonymous sources.The daily reported that the San Franci...  Full Story