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Industries & Sectors

Business & Finance - Industries & Sectors

Panasonic says nine-month net profit plunges 42pc to $1.19bn TOKYO: Japanese electronics giant Panasonic said Tuesday that its nine-month net profit plunged 42 percent to $1.19 billion, largely due to one-off gains including a pension scheme change a year earlier.The Osaka-based company said its net profit for the April-September period came to 140.4 billion yen while revenue ticked up 1.0 percent to 5.7 trillion yen.The firm left unchanged its fiscal year to March profit forecast of 140 billion yen.Copyright AFP (Agence France-Presse), 2015 ...

Business & Finance - Industries & Sectors

Russia's Gazprom to slash 2015 capex by almost $8bn SINGAPORE: Russia's state-controlled Gazprom said on Tuesday it would slash its capital expenditure this year by almost $8 billion to $30 billion as political and market developments created a challenging business environment.With oil prices down by half in the last six months, energy producer revenues have fallen sharply, and Gazprom has also been hit by the political tensions between Russia and Europe over the crisis in Ukraine, which is the most important transit route for ...

Business & Finance - Industries & Sectors

Chinese airlines to scrap fuel surcharge from Feb 5 BEIJING: Chinese airlines are set to scrap their fuel surcharges for domestic flights for the first time since late 2009, two airlines executives told Reuters, even as oil prices start to climb away from six-year lows this week.Passengers heading home for family reunions in the upcoming Chinese New Year holiday, nevertheless, may still have to pay a premium to board flights during the peak travel period.Starting from Feb. 5, Air China, China Eastern Airlines Corp ...

Business & Finance - Industries & Sectors

Car-sharing service report prompts Google tweet SAN FRANCISCO: Google late Monday fired off a terse tweet that appeared aimed at putting brakes on a report that it is readying a ride-sharing service that would rival Uber."We think you'll find Uber and Lyft work quite well," said a message fired off at the Internet titan's official @google Twitter account. "We use them all the time."Google referred AFP to the tweet in response to a request for comment regarding a Bloomberg report citing ...

Business & Finance - Industries & Sectors

Italian car sales rise 10.9pc in Jan MILAN: New car sales in Italy, Europe's fourth-largest car market, rose 10.9 percent in January from the same month a year ago to 131,385 vehicles, Italy's transport ministry said on Monday. Fiat Chrysler Automobiles' share of the Italian market stood at 28.3 percent in January, up from 27.61 percent in December, according to calculations made by Reuters. Copyright Reuters, 2015 ...

Business & Finance - Industries & Sectors

Brazil posts January trade deficit; imports and exports fall SAO PAULO: Brazil posted a wider-than-expected trade deficit in January even after imports and exports tumbled, government data showed on Monday. The trade deficit of $3.174 billion was smaller than the $4.068 billion shortfall of a year earlier.The median forecast of 17 analysts surveyed by Reuters was for a deficit of $3 billion. Brazil posted a surplus of $293 million for December. Imports dropped 12 percent from January 2014, while the Brazilian real fell 9 ...

Business & Finance - Industries & Sectors

Nissan rejects US government offer to mediate Mississippi UAW row DETROIT: Nissan Motor Co has rejected a US State Department offer to mediate a dispute between the company and the United Auto Workers over claims of anti-union practices as the UAW tries to organize workers in Mississippi. The UAW was joined by the umbrella labor group IndustriALL Global Union Federation last April in asking the State Department for its help. Even as the mediation would have been non-binding, the UAW's effort to include a global ...