Business  May 06, 2016
Asian markets down ahead of US jobs report
JapanAsian markets tumbled on Friday as lingering worries over global growth sent traders running from higher-risk assets, while attention turns to the release of US jobs data later in the day.Japan's Nikkei suffered big losses as it reopened from a three-day holiday to play catch-up with a global sell-off. However, analysts said the losses were tempere...  Full Story
US say prominent Panama family are big money launderers
The United States named PanamaThe United States named Panama's prominent Waked family, who run a large luxury goods, duty-free shop and real estate business, as a major drug money-laundering organization on Thursday.The move placed top members of the Lebanese-origin family and their businesses, including the Grupo Wisa and La Riviera luxury goods groups, the Balboa Bank and Tru...  Full Story
US, European stocks near flat ahead of US jobs data
Asian stock markets mostly fell on May 5, 2016, as worries over the global economy sap confidence, with Hong Kong off 0.3%US and European stocks finished near flat Thursday as the market awaited a key US jobs report that investors hope will ease fears of slowing global growth.The April US jobs report, which will be released Friday, comes on the heels of largely disappointing economic releases this week in the eurozone, China and the US. Those releases have left invest...  Full Story
Oil prices rise as wildfire curbs Canada output
Wildfires are burning out of control in CanadaPetroleum prices finished modestly higher Thursday as a huge wildfire in Canada's oil-sands region curbed production.The uncontrolled blaze pressed in on the Canadian oil city of Fort McMurray after more than 80,000 people were forced to run for their lives. Authorities warned that the next 24 hours would be critical for the city's survival."Pipeli...  Full Story
Economic reforms to spur Saudi's 'rapid' change: FM
Saudi Foreign Minister Adel al-Jubeir, pictured on May 2, 2016, voiced confidence that the kingdom can diversify its economy with the Vision 2030 planSaudi Arabia's foreign minister voiced confidence Thursday that the kingdom could implement an ambitious plan to diversify its economy, saying it had already undergone "incredible" change in recent decades.The Vision 2030 plan will take the country's advancement "to another level", creating jobs and making government "more efficient, more transpare...  Full Story
Greek unions call 48-hour strike over pension, tax reforms
The GSEE private sector workersGreek trade unions have called for a 48-hour strike starting Friday to protest controversial government plans to overhaul pensions and increase taxes to meet demands of its bailout creditors.Thursday's announcement of a general strike came after Greece's parliament said the government's pension and taxation reform bills would be debated and voted o...  Full Story
Turkey's turmoil rattles investors as PM bows out
TurkeyThe sudden exit of Turkish Prime Minister Ahmet Davutoglu on Thursday frayed investors' nerves already tested by months of political uncertainty, with analysts warning of a period of sustained pressure for the lira and stock market.Davutoglu's departure paves the way for the naming of a prime minister more pliant to the will of President Recep Tayy...  Full Story
Renault boss's huge paycheck shows limits of Hollande's war on CEO salaries
Renault CEO Carlos Ghosn, pictured on March 1, 2016, made 7.25 million euros Anger over the 7.25 million euros that the head of French carmaker Renault took home last year has underlined President Francois Hollande's failure to rein in runaway executive pay.Huge bonuses, "golden handshakes", lucrative stock options -- all these corporate goodies were supposed to come under much closer scrutiny after Hollande won the preside...  Full Story