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Deutsche Telekom seeks T-Mobile buyer again FRANKFURT: Deutsche Telekom has started looking for an alternative buyer for T-Mobile US after France's Iliad abandoned its efforts to buy the business earlier this month, a German magazine reported on Thursday. Monthly Manager Magazin cited people familiar with the company as saying Deutsche Telekom was looking at possible buyers who were not direct competitors to T-Mobile US, citing Mexico's America Movil as a possibility. Deutsche Telekom, which owns close to 67 percent of T-Mobile US, declined to comment on the report but said it was not under pressure to make a deal. America Movil was not immediately available for comment. Deutsche Telekom had hoped to reduce its exposure to T-Mobile US, the fourth-largest US carrier, before next year's scheduled auction of radio waves. Iliad abandoned its attempt to buy the company because of resistance from Deutsche Telekom, becoming the third bidder to walk away from the carrier in three ...

GM profit drops on weakness in Europe, South America NEW YORK: General Motors Thursday reported lower third-quarter earnings as weakness in South America and Europe more than offset an improved performance in North America.Earnings at GM, the biggest US automaker, fell 14.3 percent from the year-ago period to $1.47 billion. Operating earnings rose 12.1 percent in North America to $2.45 billion. Vehicle deliveries jumped 12.8 percent in the region amid brisk industry-wide sales in the giant US market.GM's other region with positive earnings and ...
Honda execs to take pay cut after fifth Fit hybrid recall TOKYO: Honda Motor Co said on Thursday its president and 12 other executives would take an unprecedented, quality-related pay cut after the Japanese automaker announced the fifth recall in a year of its new Fit hybrid model. The recall, which covers 425,825 Fit hybrid vehicles and other models in Japan, comes as Honda is facing lawsuits due to accidents involving airbags supplied by Takata Corp. The airbags have been linked to four deaths - all ...
Fiat Chrysler CEO could raise voting stake to around 1.5pc MILAN: Fiat Chrysler Automobiles CEO Sergio Marchionne has a 0.4 percent voting stake in the carmaker, which could rise to around 1.5 percent if he exercises his stock options, a filing with US market regulator SEC showed on Thursday. Reuters made the calculations based on a total share capital of 1.6 million shares, which includes loyalty shares. Marchionne currently holds 6.8 million common shares in FCA and 16.9 million stock options exercisable within 60 days ...
Tesco chairman resigns as profits error deepens LONDON: The chairman of Britain's biggest retailer Tesco resigned on Thursday as the troubled supermarket group said a huge accounting error began earlier than thought and contributed to plunging profits.Chairman Richard Broadbent said he would be stepping down after an independent investigation found that Tesco had overstated profits by £263 million ($422 million, 334 million euros) as a result of accounting errors stretching back to before 2013."The board's immediate focus must be on ensuring that ...
Huawei says Q3 smartphone shipments jump 26pc, strong demand for high-end devices HONG KONG: China's Huawei Technologies Co Ltd said third-quarter smartphoneshipments jumped 26 percent year-on-year, doubling devices shipped to the high-margin premium market dominated by Samsung Electronics Co Ltd and Apple Inc.Shenzhen-based Huawei, the world's third-biggest smartphone supplier after the dominant pair, shipped 16.8 million smartphones globally in the quarter ended Sept. 30, according to company data. About a quarter of those were mid- to high-end models, more than twice as many as the same period ...
Unilever says 3Q sales dip, blames China slowdown THE HAGUE: Dutch food and cosmetics giant Unilever on Thursday posted a third quarter drop in sales down 2.0 percent, blaming a slowdown in emerging markets, particularly in China.Turnover dropped to 12.2 billion euros ($15.4 billion), which was also weighed down by a negative currency impact of 2.6 percent, the Rotterdam-based group said in a statement.Unilever did not publish third quarter profits."Market growth slowed in emerging countries and particularly in China," Unilever chief executive Paul ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln