Business  October 25, 2016
Belgian region warns pressure will 'stop' EU-Canada trade talks
Wallonia leader Paul Magnette said that he could not endorse the CETA accord under what he called the pressure of an ultimatumDelicate negotiations in Brussels failed Tuesday to reach an agreement that will allow an EU-Canada trade deal to forge ahead, as a holdout Belgian region warned it would stop the talks if it faced more pressure to sign up.Belgian and European Union officials held a string of meetings aimed at winning over the Wallonia region, which has prevented B...  Full Story
World markets lose steam, oil falls; US earnings mixed
Most Asia-Pacific currencies weakened and most of the regionGlobal stock markets lost steam Tuesday amid a deluge of US corporate earnings reports showing mixed results, as well as solid German economic data, while oil dropped below the psychological $50 level.US markets posted slight declines with some big name companies reporting earnings. Apple's disappointing report, showing a 19 percent drop in profit...  Full Story
Britain backs Heathrow airport expansion despite splits
An Emirates Airbus A380 plane prepares to land at LondonThe British government approved a new third runway at London's Heathrow airport on Tuesday, a long-awaited decision that has stoked divisions and follows decades of debate.The move was hailed by Transport Secretary Chris Grayling as a "momentous step" but sparked protests and threats of legal action from opponents.Following Britain's vote in June t...  Full Story
Italy's crisis-hit BMPS bank to cut jobs, close branches
Italian bank Monte Paschi di Siena (BMPS) is the worldItalian bank Monte Paschi di Siena (BMPS) announced Tuesday plans to cut 2,600 jobs and close around 500 branches in a bid to turnaround the troubled lender. BMPS, the world's oldest bank still operating today, unveiled the overhaul as it posted a net loss of 1.15 billion euros ($1.3 billion) in the third quarter, sparking volatile trading in its s...  Full Story
Gamesa shareholders approve merger with Siemens
The Siemens headquarters in Munich, southern GermanyShareholders of Spanish renewable energy group Gamesa on Tuesday approved a merger with the wind power division of German engineering giant Siemens.This tie-up "will create one of the world's main companies in the sector," said Gamesa president Ignacio Martin during a special general assembly at its headquarters in Zamudio in northern Spain.Gamesa ...  Full Story
Steel to salt: key facts about India's famous Tata Group
An Indian man walks past a signage of a Tata MotorIndia's largest conglomerate Tata Sons is back in the hands of eminent industrialist Ratan Tata after the sudden sacking of Cyrus Mistry. Here are key things you need to know about the Indian giant.What is the Tata Group?It is arguably India's most famous family conglomerate. Established by Parsi industrialist Jamsetji Tata under British colonial r...  Full Story
London's airports at a glance
Heathrow, LondonBritain has a total of five international airports dotted around the capital but capacity is at breaking point for Europe's biggest air transport hub.The government's decision to back the expansion of Heathrow Airport will be welcomed by the business community but slammed by many local campaigners.The controversial debate over airport capacity date...  Full Story
IEA hikes green energy forecast after 'turning point' year
After a record 2015, global renewable electricity capacity will grow by 825 gigawatts by 2021, a massive 42-percent rise, the IEA saidGovernment support and lower costs will power stronger-than-expected global growth in renewable energy over the next five years, the International Energy Agency (IEA) said Tuesday.After a record 2015, global renewable electricity capacity will grow by 825 gigawatts by 2021, a massive 42-percent rise, the IEA said. The estimate is 13 percent higher ...  Full Story