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Qantas Airways’ annual profit surged 50% to a record $587 million, despite a 19% hike in its annual fuel bill because of higher oil prices.
Qantas revenue for the fiscal year ending June 30, rose 11% to $12.4 billion, whereas its pretax profit...
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Amgen Inc., the world’s largest biotechnology company, plans to reduce workforce by 14% amid the fear of declining sales of its top-selling drug, Aranesp.
Board decision will leave some 2,200 to 2,600 people jobless, but will save $700 million...
The Bank of Japan is withdrawing $5bn funds it poured into the money market in the past two working days amid signs that the liquidity crunch may not be as bad as it was initially conceived, with the calm slowly returning to global financial...
Akzo Nobel NV, the world’s largest maker of paints and coatings, has struck a deal with Imperial Chemical Industries (ICI) for $16bn after a two-month of skirmish for the Dulux and Glidden paints maker.
From the deal, investors will get 670p a...
The Blackstone Group’s second-quarter net income surged, more than tripled on fees and profits from its leveraged buyouts.
Revenue growth was strong across all four sectors of the firm, especially the core private equity and real estate units....
Asian banks are taking initial step to avoid the market precariousness as the US subprime woes are continuously affecting major markets.
Being a highly developing region, Asia assumes to be less affected from the existing crises, but Asian nations...
China’s monthly inflation has accelerated to the highest level in more than 10 years as increasing food prices are continuously hurting the economy and fueling the speculation of another interest rates hike.
In a monthly report, the National...
Unstable oil prices are dithering major economies as recently U.S. crude oil prices surged to record highs of $78.77 before falling to around $72.
America urges OPEC to boost production to keep the tempo of oil prices stable, but Venezuela’s...
RBS-led consortium is climbing step-by-step to ABN Amro. Shareholders in RBS voted overwhelmingly in favor of $97.2bn bid for Amro as 94.5% of RBS shareholders support the deal at an extraordinary meeting in Edinburgh.
RBS shareholders follow their...
To curve the volatility, the European Central Bank has decided to monitor the conditions on the euro market as U.S. subprime mortgage losses continued to shake credit markets.
Earlier, ECB has pumped 94.8 billion euros ($130.2 billion) in cash into...
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