Business  November 27, 2015
China profits, probes hit Shanghai as Asia mostly retreats
Chinese traders have been spooked by news that authorities are investigating brokerages for alleged rules violationsA bigger-than-expected plunge in profits at China's industrial giants and a probe into brokerages sent shares in Shanghai tumbling Thursday, while more weak Japanese data dealt another blow to Tokyo's economic growth plan.The selling on China's trading floors was exacerbated by next week's expected restart of initial public offerings, which dealers...  Full Story
Weak Japan data supplies more bad news for Abenomics
JapanJapan on Friday published a string of mostly weak data, the first major figures since news that the world's number three economy had slipped back into recession.A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped in a double blow for Prime Minister Shinzo Abe's high-profile growth blitz, du...  Full Story
LG Display plans multi-billion OLED plant
WorldSouth Korea's LG Display said on Friday it planned to invest close to $9.0 billion in a new plant to produce organic light-emitting diode (OLED) displays, anticipating a surge in demand for the ultra high-definition technology.Total investment in the plant, to be built in Paju near the border with North Korea, is expected to top 10 trillion won ($8...  Full Story
Dutch lawmakers approve plan to close coal power plants
The Dutch parliament, photographed March 10, 2015, has passed a measure that would phase out coal-fired power plants in The Netherlands; the plan will now go to the cabinet for review  Dutch lawmakers voted in favour Thursday of phasing out coal power plants in the Netherlands, appealing to other countries to do the same, days ahead of a crunch UN climate summit.The motion, proposed a week ago by two members of the progressive D66 party, was adopted by a small majority in the 150-seat lower house.Those in favour included the Labo...  Full Story
Altice wins French Premier League TV rights
Altice, owned by French billionaire Patrick Drahi (C), will show matches from the worldNetherlands-based telecoms firm Altice has gazumped Canal+ as the exclusive broadcaster of Premier League matches in France and Monaco, the English top flight announced on Thursday.Altice, owned by French billionaire Patrick Drahi, will show matches from the world's most-watched football championship for three seasons from 2016-17 to 2018-19.It is ...  Full Story
Arrested Brazilian billionaire declares innocence: report
Investment banker Andre Esteves, pictured April 26, 2012 in Sao Paulo, has said heThe billionaire Brazilian banker arrested on charges related to the country's huge Petrobras corruption probe says he is not guilty, his lawyer was quoted as saying Thursday.Andre Esteves, with a personal wealth of $2.1 billion according to Forbes magazine, was arrested Wednesday along with a senior senator from the ruling Workers' Party. They are ...  Full Story
Polish supermarkets want turnover tax to hit foreign competition
The France-based grocery giant Carrefour is among supermarket chains that would feel the effect of a proposed move by PolandPolish supermarket chains say the government's proposed turnover tax needs major changes if it is to act as a weapon against foreign competitors dominating the Polish market.The eurosceptic Law and Justice (PiS) party that won last month's general election has not explicitly said that the new tax is meant to handicap Britain's Tesco, France's Carre...  Full Story
French jobless number increases the most since 2013: ministry
A photo taken on August 27, 2014 shows a French Pole Emploi employment agency in ArmentieresThe number of unemployed in France increased in October by 42,000 from a month earlier, the biggest monthly rise in two years, the Labour Ministry said Thursday, denting the government's hope for good news ahead of regional elections.That jump, raising the number of jobless people to a total of 3.59 million, has not been seen since April 2013.On a ...  Full Story