World Business
A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.
Best Buy to sell Five Star China business
SHANGHAI: US’s retailer Best Buy said on Thursday it will sell its struggling Five Star China business to domestic real estate firm...
12% tax on UK properties worth $1.91m termed disaster, homes worth £1.5m to pay 10% stamp duty
LONDON: The UK government's decision to place a 12 percent tax on properties worth more than £1.5 million ($1.91 million)...
In all-Airbus 45-aircraft fleet, Finnair inducts 8 more Airbus A350-900 worth €1.9b
HELSINKI: Finnish airline Finnair has inducted eight Airbus A350-900 to a previous order from the European aerospace giant, bringing the...
General Electric sells 1.47m shares to Polish Bank BPH at $ 12.6/shr
WARSAW: BPH said in a statement on Wednesday that General Electric Co sold 1.47 million or 1.9 percent shares of...
Greek PM turns down EU, IMF call to raise taxes
ATHENS: Greek Prime Minister Antonis Samaras has said he had rejected calls from the EU and IMF to raise taxes...
UK imposes 25% tax on multinationals companies
LONDON: The British government has imposed a new tax rate on multinational companies that seek to avoid paying their fair...
50% hike in taxes: French retailers warn against massive job cuts
PARIS: French retailers have warned the Socialist government that a planned 50 percent hike of the tax paid by retailers...
British’s Aviva agrees to terms of $8.8bn Friends takeover
LONDON: Aviva British insurer agreed terms on Tuesday for a 5.6 billion pound ($8.8 billion) all share takeover of rival...
Lloyds Group sells $2.50b Irish mortgages portfolio to CarVal and Goldman Sachs
LONDON: The Lloyds Banking Group has sold a 1.6 billion pound ($2.50 billion) portfolio of Irish mortgages to a private...
Nippon Steel to sell $184m Kobe Steel shares, take stake to below 3%
TOKYO: Nippon Steel & Sumitomo Metal Corp and Kobe Steel Ltd said on Wednesday they will reduce stakes in each...
Singapore Post to acquire Australian parcel firm for S$104m
SINGAPORE: National mail carrier Singapore Post said that it will acquire an Australia-based parcel delivery company “Quantium solution” for S$104.66...
Roche buys diagnostics firm to assess risk of genetic abnormalities
ZURICH: Roland Diggelmann said that the Roche acquired San Jose, the California-based Ariosa Diagnostics, Incorporate, a molecular diagnostics firm which...
Philips resolves patent dispute with Nintendo over motion tracking system
AMSTERDAM: Philips Dutch technology group resolve patent dispute with Nintendo over the motion and gesture tracking systems use in the Japanese...
Deutsche Bank to sell Arrowgrass stake to Foundation
FRANKFURT: In London hedge fund of Deutsche Bank is negotiating the sale of stake in Arrowgrass Capital Partners to private...
Moody’s downgrades rating of 5 Japanese banks from Aa3 to A1 over mammoth debt
TOKYO: Moody's downgraded its credit rating on five Japanese commercial banks today after it downgraded the country's sovereign debt over...
Moody’s downgrades Japan’s rating from Aa3 to A1 on uncertainty, recession
TOKYO: Moody’s downgraded its credit rating for Japan on Monday, citing “rising uncertainty” over the country’s debt situation and Prime Minister...
German’s E.ON to split to focus on renewable energy, power grids
FRANKFURT: E.ON Germany's top utility spinning off power plants to focus on renewable energy and power grids, a dramatic response...
Middle East’s Azadea aims $500 million from stake sale
DUBAI: Azadea Group aims to raise up to $500 million with the sale of a minority stake in the business,...
British’s Virgin purchases $570 million credit card portfolio from MBNA
LONDON: Virgin Money, the British bank has purchased credit card balances worth 363 million pounds ($570 million) from MBNA American...
Chinese billionaire to sweeten bid for Club Med
PARIS: Guo Guangchang Chinese billionaire is sweeten his bid for the struggling French holiday group Club Mediterranee to trump Italian...
