November 26, 2012
Renesas shares up 5% on $2.2bn bailout report
Shares of Japanese chipmaker Renesas have risen 5% after a report said that shareholders have accepted a bailout from a government-backed fund. The Nikkei Daily said the the fund will buy two-thirds of the struggling company for 180bn yen ($2.2bn;…
November 26, 2012
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Germany's upper house of parliament has rejected a deal with Switzerland to tax German assets held in Swiss bank accounts. The deal would have allowed Germans with undeclared assets in Switzerland to avoid punishment by making a one-off payment of…
November 26, 2012
Aston Martin owner denies receiving two offers for firm
The owner of Aston Martin, Kuwait's Investment Dar, has denied reports it has received competing bids for a 50% stake in the luxury British car brand. Italian private equity fund Investindustrial is widely reported to have made an offer of nearly…
November 26, 2012
Gas tanker Ob River attempts first winter Arctic crossing
A large tanker carrying liquified natural gas (LNG) is set to become the first ship of its type to sail across the Arctic. The carrier, Ob River, left Norway in November and has sailed north of Russia on its way to Japan. The specially equipped…
November 26, 2012
Argentina debt showdown – NY judge: The court will be obeyed
Argentina has finally run out of wiggle room in a billion-dollar showdown over foreign debts unpaid since the country's world-record default a decade ago, and the stakes couldn't be higher for President Cristina Fernandez. A US federal judge in New…
November 22, 2012
Eurozone output contracts again, PMI survey says
Business activity in the eurozone continued to contract in November, a survey suggests. The Markit eurozone Purchasing Managers' Output Index was little changed from October, up to 45.8 from 45.7. A reading below 50 indicates contraction. A sharper…
November 22, 2012
SABMiller reports higher profits on emerging markets
Brewing giant SABMiller has said that profits improved, driven by growth in emerging markets. Pre-tax profit in the six months to September rose 12% to $2.28bn (£1.4bn), boosting the shares by 6%. "We have recently seen moderation of economic growth…
November 22, 2012
Apple ordered to share HTC deal details with Samsung
A US judge has ordered Apple to disclose details of its patent-sharing deal with HTC to its rival, Samsung. Apple and HTC signed a 10-year licence agreement earlier this month, but did not make the details public. Samsung, which is also involved in…
November 22, 2012
Sony and Panasonic ratings cut by Fitch
Tech firms Sony and Panasonic have had their credit ratings cut to the level of junk status for the first time. The Fitch ratings agency pointed to their weak balance sheets and declining position in the global electronics sector, where both are…
November 22, 2012
Nigerian Tops Africa’s Richest List
Forbes magazine has named Africa's richest man — a Nigerian tycoon who made his fortune in sugar, flour, and cement. This is the second year in a row that Aliko Dangote has topped the list of Africa's 40 richest people, with a reported net worth…