Business  August 22, 2014
EDF Energy to pay £3 million after complaints probe
A woman adjusts the logo of French electricty giant EDF before a press conference in London, on September 24, 2008The British arm of French electricity giant EDF will pay £3.0 million to help vulnerable customers after it breached complaints handling rules, regulator Ofgem said on Friday.Ofgem said in a statement that the money, equivalent to 3.7 million euros, $5.0 million) will be used to help vulnerable customers as EDF Energy seeks to rebuild consumer tru...  Full Story
Asia shares gain ahead of US Fed chief's speech
An elderly investor looks at stock prices at a securities exchange in Shanghai on August 22, 2014Asian shares mostly rose Friday after the S&P 500 index notched up a new record high, as traders awaited a keynote speech by the Federal Reserve chief for clues on the timing of interest rate hikes.Hong Kong gained 0.47 percent, or 118.13 points, to 25,112.23, Shanghai added 0.46 percent, or 10.35 points, to 2,240.81, Sydney rose 0.12 percent, ...  Full Story
LSE says first quarter profits soar almost 50%
The LSE groupThe London Stock Exchange Group's net profits surged by nearly 50 percent in the first quarter on the back of a resurgence in stock market flotations, it said on Friday.Earnings after taxation soared to £52 million ($86 million, 65 million euros) in the three months to June, compared with £35.4 million a year earlier, the LSEG said in a results s...  Full Story
South Korea's top two automakers hit by strike
The Hyundai Motor union plans to launch a limited strike to press their demands for wage hikes, a union spokesman saysWorkers at South Korea's two largest automakers went on a limited strike Friday to press their demands for wage reforms, their unions said.Unionists at Hyundai Motor Co. and its subsidiary Kia Motors Corp. downed tools for four hours.They have held 17 rounds of talks with the management over the past two months but have been unable to reach a compr...  Full Story
Edinburgh and London grapple over North Sea's black gold
The BP Eastern Trough Area Project oil platform in the North Sea, around 100 miles east of Aberdeen, Scotland, February 24, 2014North Sea oil has been at the centre of fierce debate over Scotland's future ahead of an independence vote next month, with both sides wrangling over the outlook for the region's treasure trove of black gold.Around 42 billion barrels of oil and gas have been extracted from the North Sea since the early 1970s, providing a welcome boost to the Britis...  Full Story
New Zealand's Spark almost doubles headline profit
New ZealandSpark, New Zealand's largest telecommunications company, posted a 93.3 percent rise in annual net profit on Friday, with one-off items preventing the carrier slipping into negative territory.The company, which changed its name from Telecom Corp. earlier this month, said net profit for the 12 months to the end of June was NZ$460 million ($386 millio...  Full Story
Griesa refrains from contempt charge against Argentina
Argentina government attorneys Carmine Boccuzzi(C) and other lawyers arrive at the US Federal Courthouse on August 21, 2014 in New YorkUS judge Thomas Griesa on Thursday branded Argentina's move to pay bondholders against his orders "illegal", but he held back from ruling the country in contempt of court.He demanded that Argentina not carry out the new plan, aimed at evading his freeze on a June bond payment, but added that, "In my judgment, it does not add to the scales of settle...  Full Story
Tourism tanks in Crimea under the Russian flag
People enjoy the sun by the seaside on a beach near the Crimean capital Simferopol, on  June 29, 2014Restaurant owner Galina Anchukova looks out across the seaside promenade in sunny Feodosia, with its straggle of strolling tourists, and sees a wasted financial opportunity."The season is ruined, there is nobody here," she said. The first summer season in Crimea under the Russian flag has been a disappointment, local business owners complain, blami...  Full Story