Business

Tobacco giant BAT agrees to 49-billion-dollar takeover of US rival

British American Tobacco Plc on Tuesday said it has finalized a deal to acquire 57.8 per cent of shares of US rival Reynolds American Inc for 49.4 billion dollars.

IMF raises China growth forecast, but warns of sharper slowdown

China's economy will expand by 6.5 per cent this year, the International Monetary Fund said on Monday, as it warned that the growth, driven by government spending, will not be sustainable. 

Trump's warning to German carmakers hits shares

Shares in German carmakers tumbled on Monday after incoming US president Donald Trump threatened the industry with hefty penalties for selling cars in the US market that were produced elsewhere....

Report: Ex-Volkswagen head knew about scandal two months before

Former Volkswagen chief executive Martin Winterkorn knew about the company's emissions scandal two months earlier than previously stated, the Bild am Sonntag newspaper reported on Sunday.

Takata to pay 1-billion-dollar criminal fine over defective airbags

Beleaguered Japanese car-parts supplier Takata has agreed to pay a criminal penalty of 1 billion dollars, and three of its executives have been indicted, in connection to its sales of faulty...

India's SpiceJet to buy 205 Boeing jets in 22-billion-dollar deal

Indian budget airline SpiceJet will purchase 205 planes worth 22 billion dollars from US manufacturer Boeing, one of the biggest orders ever made by an Indian airline, according to an agreement...

Amazon plans to create more than 100,000 new jobs in the US

The world's largest online retailer Amazon plans to create 100,000 new jobs in the US over the next 18 months.

German economy sizzles at 1.9 per cent in 2016, strongest since 2011

The German economy grew by 1.9 per cent in 2016, the Federal Statistics Office announced Thursday, posting the strongest growth in five years for Europe's largest economy.

VW admits guilt in emissions scandal as US indicts six

Volkswagen will admit guilt and pay 4.3 billion dollars in criminal and civil settlements to the US government over the German carmaker's cheating on diesel emissions, US Attorney General Loretta...

Britain's Heathrow sets new record with 76 million passengers in 2016

Britain's Heathrow Airport, Europe's busiest air travel hub, on Wednesday reported a new record of 76 million passengers last year, up 1 per cent from 2015.

Airbus sets record with 2016 commercial aircraft deliveries

Airbus delivered a record 688 commercial aircraft in 2016 on the back of strong operational performance and a robust market, the airline manufacturer said Wednesday.

VW near 4.3-billion-dollar US settlement over emissions cheating

Volkswagen said Tuesday it was close to reaching a settlement of about 4.3 billion dollars with the US Department of Justice in the German carmaker's diesel emissions cheating case.

Volkswagen likely topped Toyota as world's leading carmaker in 2016

Volkswagen AG appears to have become the world's biggest carmaker last year with global sales of more than 10.3 million vehicles, up 3.8 per cent from 2015, according to data issued Tuesday by the...

Croatia's HT buys majority stake in Montenegrin Telecom

The Croatian telecommunications company Hrvatski Telekom (HT) signed an agreement on Tuesday to buy 76.53 percent of shares in Montenegro's Crnogorski Telekom from Hungary's Magyar Telekom for EUR...

Trump hails auto industry "finally" bringing jobs to US

US president-elect Donald Trump kept up the pressure Monday on the auto industry, as global carmakers were gathered in Detroit for the North American International Auto Show.