Latest International Business News
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Chinas manufacturing slows to 7-month low HSBC
China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed.The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for May fell to 49.6 in May, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC on Thursday.Qu Hongbin, chief economist of the HSBC ...
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Aging Asia to strain worlds long-term economic growth think-tank
The Asia-Pacific region will continue to power global economic growth in 2013, but the region's increasing aging population will cast a shadow on the long-term development, according to a Canadian think-tank."Productivity gains and a large, young working-age population have done much to boost Asian economic growth over the past three decades. But Asia's demographic dividend is ...
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McNerney Boeing will squeeze suppliers and cut jobs
Boeing Chief Executive Jim McNerney, acknowledging that "I’m sounding like Darth Vader here," touted plans Wednesday to reduce costs by squeezing suppliers hard and cutting jobs across the ...
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Outlook for China’s Economy Worsens
The unexpected contraction in China's factory activity in May has heightened the risk of a further slowdown in the second quarter, after the world's second largest economy grew at its slowest pace in three years over January to March, said economists. ...
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Slaying China’s zombies and righting the economy
Recent signs show that the Chinese economy, which has maintained double-digit growth for three decades, is slowing down. China recorded its last double-digit growth in 2010. But since then, the annual growth rate has fallen roughly 20 percent (from 10 to 8 percent per annum). The GDP data for the first quarter of 2013, if anything, have raised fresh worries. Instead of expanding at the expected ...
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Your photos End of the road for Ford Falcon
it will close its Australian manufacturing plants in October 2016 , with the loss of hundreds of jobs.Ford president Bob Graziano said approximately 1,200 workers would lose their jobs when the Broadmeadows and Geelong plants were shut down.The decision also means the end of the road for the Ford Falcon, which has been a mainstay of the Australian automotive scene since 1960.Here's a ...
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Canada U.S. test at Edmonton rugby park as tune-up for World Cup qualifiers
Opening game of Pacific Nations Cup runs on Saturday; Canadian manager ecstatic team will ‘get high-quality games’ against Fiji, Tonga next ...
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The world’s wealthy ‘could be hiding €707 billion in Ireland’
THE WORLD'S WEALTHIEST people could have over EUR700 billion hidden from international tax authorities - keeping it shielded in Irish financial institutions. That's according to Oxfam Ireland, which has warned that the new focus on corporate tax avoidance should not distract from the methods used by wealthy individuals to avoid income tax payments. The charity says wealthy ...
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Exxon Mobil accused of anti-gay bias
The complaint, filed Wednesday with the Illinois Department of Human Rights by Freedom to Work, said Exxon was sent two nearly identical resumes for an opening in Illinois. The only major differences: one applicant made clear she was a gay-rights activist, and had higher grades than the other ...
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District college notes Penn State’s Agee selected for USA Basketball U19 world championship team
Candice Agee was selected for the USA Basketball women's U19 world championships team. Agee will play in the FIBA world championships from July 18-28 in ...
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Geelong loses icon with Ford shut down
THE end of local manufacturing at Ford will be a devastating blow for the people of Geelong, but the city will fight on, community leaders say. Ford has been part of the fabric of Geelong since Model T Fords rolled off the production line in 1925. Almost everyone has a link to the car manufacturer. The local MP spent much of his 20s working on the production line. The head of the chamber of ...
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Global research team decodesgenome sequence of 90 chickpea...
Hyderabad, India, and Shenzhen, In a scientific breakthrough that promises improved grain yields and quality, greater drought tolerance and disease resistance, and enhanced genetic diversity, a global research team has completed high-quality sequencing of not one but ninety genomes of ...
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Dominion Finance chief executive jailed
Former Dominion Finance chief executive Paul William Cropp has been sentenced to two years and seven months in prison. Cropp, 50, was found guilty last month on four charges of theft by a person in a special relationship. The Serious Fraud Office, which brought the proceedings against Cropp, argued he knowingly and deliberately breached the requirements of Dominion's debenture trust deed or that ...
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Ford to halt car production in Australia in 2016
MELBOURNE (AFP) - Ford announced Thursday it would cease making vehicles at its unprofitable Australian plants in 2016 and axe 1,200 jobs, ending an era that began in 1925 with the firm's first local car.Ford Australia chief executive Bob Graziano made the announcement as he revealed losses of Aus$141 million (US$136 million) after tax in the last financial year and Aus$600 million over the ...
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Ford grows in America shrinks in Australia
Ford Motor Co. is adding production, and 3,500 jobs, in North America as it tries to keep up with Americans’ appetite for new cars and trucks. But the automaker will end production in Australia, cutting 1,200 jobs by 2016, as high costs left it unable to ...
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Ford jobs couldnt be saved
Government intervention would not have saved Ford Australia's manufacturing jobs, Victorian Premier Denis Napthine says. Dr Napthine met with Ford representatives on Wednesday and was told there was nothing either the Victorian or federal governments could do to change their decision, he said. "I made it very clear to them: `Is there anything we can do to change the mind of your ...
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More job losses likely after Ford Swan
Treasurer Wayne Swan has warned that Australia faces more job losses following Ford's decision to stop manufacturing in Australia.Ford announced on Thursday morning it will close its Broadmeadows and Geelong factories, both in Victoria, by October 2016 - with 1200 jobs lost.It will also cease making the iconic Falcon model, with Ford Australia CEO Bob Graziano saying it's no longer ...
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Ford jobs could not be saved Vic premier
Government intervention would not have saved Ford Australia's manufacturing jobs, Victorian Premier Denis Napthine says. Dr Napthine met with Ford representatives on Wednesday and was told there was nothing either the Victorian or federal governments could do to change their decision, he said. "I made it very clear to them: `Is there anything we can do to change the mind of your ...
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Vic Ford worker grief over shock shut down
Victorian Ford Workers are devastated by news the company will shut down its manufacturing sites with fears job losses will gut local ...
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Carbon tax hit Ford Abbott
Opposition Leader Tony Abbott says the carbon tax is among the causes of Ford's decision to cease manufacturing in Australia.Mr Abbott says a range of factors are behind the blow, but the controversial tax is one of them."Obviously anything that adds to the cost of manufacturing in Australia is something that we don't need at a time like this and the carbon tax is one of those ...
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Azerbaijani karate fighters claim 14 medals including 9 golds at world champion
AzerTAc reports. The Azerbaijani karate fighters also won two world belts out from three possible in a competition marking the 90th anniversary of national leader Heydar Aliyev. Azerbaijan ranked 3rd in the overall medal table of the ...
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Foreign Ministers to attend 2nd Baku World Forum on Intercultural Dialogue
Saudi Arabian, Syrian, Mozambican and Tunisian ministers to attend 2nd Baku World Forum on Intercultural Dialogue. Ministers from Saudi Arabia, Syria, Mozambique and Tunisia have confirmed their participation at the 2nd World Forum on Intercultural Dialogue that will be held in Baku from May 29-June 1. Initiated by Azerbaijani President Ilham Aliyev, the forum will be held under the motto ...
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Tech job growth in St. Louis means local companies conduct talent searches
ST. LOUIS (KSDK) - World Wide Technology is the latest St. Louis company to announce it's adding information technology jobs. At its brand new, state of the art building, World Wide Technology says it's adding 100-plus jobs with an average salary of $100,000. St. Louis continues to get national attention as one of the hottest cities for tech jobs. The jobs pay well, but how do you get ...
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In a 3 a.m. vote Raytown gives green light to downtown Wal-Mart grocery store
After meeting for about seven and a half hours, the Raytown Board of Aldermen voted 6-4 early Wednesday to allow a change that paves the way for a Wal-Mart grocery store in its ...
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Intel MediaTek and Elan taking up 60 of global touchscreen controller market
The global touchscreen controller chip market has been expanding at a CAGR of over 20% in recent years, attracting at least 50 chipset suppliers, including more than 20 in Taiwan, to step into the segment, the sources ...
South America Featured
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Shipping Wars: Uruguay and Argentina face off over rival port expansion plans
Argentina and Uruguay both want to be the shipping hubs of South America, or southern South America at least, and both are planning to considerably expand their port infrastructure in Buenos Aires and Montevideo respectively, which is leading to considerable diplomatic strain.
Argentina is a regional power in South America, the country is considered one of the more developed nations on the continent on-par with Uruguay (on paper at least, with a similar per capita income and Human Development Index rating) although the country occupies a majority of the continent with Brazil and presides over a massive coastline. Read more
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