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Luxury cars in pole position at LA auto show LOS ANGELES: Luxury cars lead the grid at the LA Auto show: limited editions, $200,000+ price tags, 3D dashboards for drivers and champagne on ice for passengers.What more could the ultra-rich motorist want?Red-hot stock markets, historically low interest rates and cheaper gas prices are fueling a surge in sales of top-of-the-range cars at the West Coast show."The market is very robust," with 5-6 percent growth expected next year, said Johan de Nysschen head of General Motors' high-end brand Cadillac, presenting the new ATS-V on Wednesday.The sports car will cost from $63,000 but Nysschen noted that the market is stronger for more expensive models, at over $100,000 -- a segment dominated by European automakers, but where Cadillac soon hopes to compete.Those carmakers from across the Pond have in recent years extended their range to smaller and less expensive models, accessible to more customers notably due to low-interest financing.The risk for brands ...

Apple, Xiaomi trade smartphone barbs in China WUZHEN: Top executives from US technology giant Apple and Chinese smartphone upstart Xiaomi traded light-hearted barbs on Thursday at a Chinese Internet conference, acknowledging the fierce competition between the rivals.Apple's iPhones and iPads are wildly popular in China, encouraging smuggling and crowds at the company's stores as consumers try to lay their hands on the latest products.Yet Apple stood in sixth place in China's fractured smartphone market with only a 6.9 percent share in the ...

Report warns of big risks from banks' commodity assets NEW YORK: US regulators should tighten rules on bank ownership of physical commodity assets due to potential market manipulation and financial risk associated with the assets, a report said Wednesday.The report focuses on cases like Goldman Sachs's ownership of key aluminum storage assets that resulted in huge increases in delivery times for the metal at the same time bank was trading the commodity, according to the report by the Senate Permanent Subcommittee on Investigations.Another highlighted ...

Airbag maker Takata faces tough day on Capitol Hill NEW YORK: Embattled auto supplier Takata will be under the microscope Thursday when a Senate panel opens a probe into the Japanese company's dangerously defective airbags, installed in millions of cars worldwide.Witnesses will include Takata's top quality assurance executive and officials from Honda and Chrysler, as well as a woman who has sued over allegations that shrapnel from an exploding Takata airbag struck her in the eye.Also testifying will be a top official with the ...

Firefox browsers switch to Yahoo for online search SAN FRANCISCO: Firefox maker Mozilla announced Wednesday that it is switching to Yahoo as the default service for online searches done through the Web browser in the United States.Google has been the default option for Firefox searches since 2004, but beginning next month that role in the US will go to Yahoo, according to Mozilla Corporation chief Chris Beard."We are ending our practice of having a single global default search provider," Beard said in a ...

China Railway Construction wins $12bn Nigeria deal BEIJING: China Railway Construction Corp has signed a deal worth nearly $12 billion with Nigeria to build a railway along the West African nation's coast, Chinese state news agency Xinhua said on Thursday.The announcement comes shortly after Mexico abruptly scrapped a $3.75 billion high-speed rail contract with a consortium led by the Chinese firm over transparency concerns.China is pushing to win railway construction projects around the world as part of plans to export its high-speed ...

BHP says demerger plans will drive growth SYDNEY: The world's biggest miner BHP Billiton Thursday defended its plan to split the company by spinning off non-core assets, saying it would generate stronger growth, with a vote on the demerger set for May.BHP announced in August a proposal to create a new independent company by demerging some assets, including aluminium, manganese, silver and selected coal and nickel operations.Under the plan, the new entity -- provisionally named NewCo -- will be dual-listed in Sydney ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln