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China should use fiscal policy to boost growth: IMF
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
Wolfspeed and ZF put German chip factory on ice
US chipmaker Wolfspeed and the auto supplier ZF have put plans for a semiconductor factory in Germany on ice, local officials said Wednesday, striking another blow to Berlin's chipmaking ambitions. The delay to the factory, which was intended to break ground next year, comes after other planned investments by chipmakers in Germany have been thrown up in the air.
Boeing reports $6.2 bn loss on strike, defense contract woes
Boeing reported a whopping $6.2 billion quarterly loss Wednesday as a nearly six-week labor strike weighed on its commercial plane division and costly problems dragged down its defense and space business.
Don't let tech gurus decide the future: Nobel winner Simon Johnson
Should our future by decided by the bosses of big tech firms? Is more regulation of Big Tech needed?
Volvo Cars cuts sales forecast on market headwinds
Sweden's Volvo Cars on Wednesday drastically cut its sales forecast for the year, saying car markets in China, Europe and the United States are "increasingly under pressure." "The car market in our main regions of China, Europe and the US is increasingly under pressure which affects demand," Rowan said.
Deutsche Bank profits boosted by legal settlements
Germany's biggest lender Deutsche Bank on Wednesday reported a sharp jump in third-quarter profits, boosted by the settlement of investor lawsuits related to a troubled takeover. Profits were lifted by a settlement in August with some former shareholders of Postbank, who took legal action against Deutsche Bank alleging that a takeover had shortchanged them.
Troubled Boeing faces investors and awaits strike vote
Boeing will be under a spotlight Wednesday as the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking employees vote on whether to end a costly weeks-long stoppage. Later Wednesday, some 33,000 hourly workers in the Seattle region will vote on whether to end the company's latest contract offer and end their nearly six-week strike.
Tokyo Metro shares rocket on debut
Shares in Tokyo Metro, one of the world's busiest subways, soared almost 50 percent on its debut Wednesday after its government owners raised $2.3 billion in Japan's biggest initial public offering in six years.
Cattle disease wreaks havoc in Libya
On Najmeddine Tantoun's farm on the outskirts of the western Libyan city of Misrata, the usual whir of hundreds of dairy milking machines has given way to near silence. Most of the North African country's revenue comes from its oil resources, but Misrata is a major dairy centre which used to produce 70,000 litres of milk a day.
AFP
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