12082016Thu
Last update: Thu, 08 Dec 2016 05am

Industries & Sectors

Business & Finance - Industries & Sectors

Boeing says expects appeal of WTO pro-EU subsidy ruling NEW YORK: Boeing expects the US to appeal a World Trade Organization decision Monday that declared illegal a tax credit offered by Washington state, company representatives said. The WTO decision was a win for the European Union on behalf of Airbus, which had argued that a Washington state tax benefit offered to Boeing to build the 777x jetliner was an unfair subsidy which violates global trade rules. "I fully expect this case will be appealed," said Bob Novick, an outside counsel representing Boeing, adding that a final resolution of the case might not come until early 2019.The US Trade Representative said it is reviewing the WTO decision with Washington state officials to decide how to respond.Novick criticized the rationale behind the decision to strike down the Washington state Business and Occupancy (B&O) tax rate as wrongly concluding that the law favored the domestic manufacturing of goods because Boeing had not ...

Business & Finance - Industries & Sectors

Bayer flags possible antitrust selloffs in cotton, canola-Taz FRANKFURT: German drugmaker Bayer expects to sell some cotton and canola seed businesses to allay antitrust regulator's concerns about its planned takeover of Monsanto, the head of Bayer's Crop Science division told German daily Taz. "In North America the combined market share in cotton is indeed quite high. We anticipate that parts of this business may have to be divested," unit head Liam Condon was quoted as saying on Monday. "Another strong market position in ...

Business & Finance - Industries & Sectors

Deutsche Telekom says fixed network outage may be work of hackers FRANKFURT: Hundreds of thousands of Deutsche Telekom customers in Germany have been hit by network outages that could be the work of hackers, the company and government security experts said on Monday. Deutsche Telekom said as many as 900,000, or about 4.5 percent of its 20 million fixed-line customers, began to have problems connecting to its network on Sunday afternoon. The outages affected certain customer routers which are used to dial into the network and ...

Business & Finance - Industries & Sectors

Lufthansa cancels 1,700 flights due to pilots' strike FRANKFURT: Lufthansa is cancelling around 1,700 flights over the next two days due to a fresh strike by pilots in a long-running dispute about pay. Last week, the German carrier cancelled nearly 2,800 flights during a four-day walkout from Wednesday that affected more than 350,000 passengers, the 14th walkout in a dispute that since early 2014 has cost the carrier hundreds of millions of euros. Lufthansa has offered to increase the pilots' pay by 4.4 ...

Business & Finance - Industries & Sectors

South Africa's MTN Group plans expansion in Iran JOHANNESBURG: MTN Group, Africa's biggest mobile phone company by sales, is planning to expand in Iran, exploiting frontier markets amid falling sales at home. The move is part of MTN's 10-year plan to cement its leading position in risky but lucrative frontier markets in the Middle East and Africa, where it aggressively expanded a decade ago. But setbacks in Nigeria have knocked MTN's share price and drawn sharper scrutiny of its hunt for returns in ...

Business & Finance - Industries & Sectors

Samsung to unveil shareholder return plans amid calls to split company SEOUL: Samsung Electronics Co Ltd said it will disclose plans to boost shareholder value on Tuesday - a move that comes amid pressure from US fund Elliott Management to split the company in two and provide more in payouts. The US activist hedge fund, which owns 0.6 percent of Samsung, called on the South Korean tech giant in October to divide itself into a holding vehicle for ownership purposes and an operating company, as well ...

Business & Finance - Industries & Sectors

Solar, wind industries hope years courting Republicans pays off under Trump LOS ANGELES: US wind and solar companies for the first time gave more money to Republicans than Democrats during the 2016 election cycle, according to federal campaign disclosures, part of a years-long effort to expand renewable energy's appeal beyond liberal environmentalists. The industry is now hoping its strategy of reaching across the political divide will pay off in the form of Congressional support as Republican Donald Trump, a climate change skeptic who has expressed doubts ...