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Business 29 Jul 2019 | 5:29 AM

A Fed interest rate cut is in the bag. What then?

SAN FRANCISCO: US central bankers are expected to lower borrowing costs this week for the first time since the depths of the financial crisis more than a decade ago. That's the easy part.

Business 25 Jul 2019 | 12:59 AM

Facebook to pay record US$5bil US fine over privacy, faces antitrust probe

WASHINGTON: Facebook Inc will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and will boost safeguards on user data, the U.S. Federal Trade Commission and the social media company said on Wednesday

Business 24 Jul 2019 | 12:00 AM

S. Korea’s market resilience has Goldman mulling outlook

SEOUL: As investors in Seoul will likely tell you, there’s a lot of noise around the South Korean market these days.

Business 22 Jul 2019 | 12:00 AM

Investors risk getting tangled up in Fed markets feedback loop

NEW YORK: The Federal Reserve is preparing to deliver what the market expects to be the first of multiple interest-rate cuts. The others are sure to follow if policy makers can’t break what’s starting to look like a vicious circle.

Business 20 Jul 2019 | 12:00 AM

Timing is key for IPOs

British billionaire Sir Richard Branson's space tourism venture is set to go public by year-end and dozens more, including unicorns and tech stocks, are planning to raise funds in the capital markets this year.

Business 11 Jul 2019 | 12:00 AM

UK hotel investor Faber joins bidding for Anbang portfolio

SHANGHAI: Richard Faber, a former lieutenant to the United Kingdom’s billionaire Barclay twins, is fronting an investor group that’s competing for a luxury hotel portfolio owned by Anbang Insurance Group Co, sources said.

Business 09 Jul 2019 | 10:06 AM

Branson’s Virgin Galactic space-tourism business to go public

SYDNEY/LONDON (Bloomberg): Billionaire Richard Branson’s Virgin Galactic aims to go public later this year and become the world’s first listed space-tourism venture.

Business 09 Jul 2019 | 8:07 AM

ABB pays up to US$470m to ditch solar converter business

ZURICH: ABB will pay up to $470 million to hand over its loss-making solar inverter business to Italy's FIMER SpA, highlighting the tough conditions in the solar industry where prices have fallen as demand has boomed.

Business 03 Jul 2019 | 7:15 AM

The British banking dynasty that’s even older than the Rothschilds

LONDON (Bloomberg): In the UK there’s old money, really old money and then there’s C. Hoare & Co. After more than three centuries of continuous operation, the family still runs the show, overseeing about 4.4 billion pounds (US$5.6bil) of deposits and sticking to a traditional way of doing business.

Business 02 Jul 2019 | 12:00 AM

‘Is that a typo?’ Australia recoils at record-low yields

SYDNEY: Australia is about to reach its last percentage point of interest-rate ammunition, dragging the country’s economy and markets deeper into the low-yield world that’s already engulfed many of its developed-world peers.