06292016Wed
Last update: Wed, 29 Jun 2016 02pm

Industries & Sectors

Business & Finance - Industries & Sectors

Telekom Austria's free float to increase towards year-end VIENNA: Telekom Austria's free float has to be increased towards the end of the year under the terms of a syndicate contract with its parent company America Movil, the head of Austria's state holding company OBIB said on Friday. The free float is currently around 11.8 percent, or roughly 78.5 million shares.The targeted free float is 20 percent, OBIB chief Martha Oberndorfer told a news conference. Mexican tycoon Carlos Slim's America Movil, which took control of the Austrian telecoms group in 2014, holds around 60 percent of the company and OBIB owns around 28 percent. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

How many calls are made on WhatsApp? every second... WhatsApp, one of the most popular mobile messaging apps has been actively reaching milestones, as the Facebook owned company announced that users are making 100 million calls a day on it.“Today, more than 100 million voice calls are made every day on WhatsApp - that's over 1,100 calls a second! We're humbled that so many people have found this feature useful, and we're committed to making it even better in the months to come,” WhatsApp ...

Business & Finance - Industries & Sectors

Volkswagen Korea executive arrested over emissions fraud SEOUL: Seoul prosecutors arrested an executive of Volkswagen's South Korean unit on Friday, as part of an ongoing probe into the emissions fraud scandal that engulfed the German carmaker.An official with the Seoul Central District Court told AFP that it had issued the warrant to arrest the executive -- identified only by his surname Yoon.Charges include manipulating documents on emissions tests to get approval for selling Volkswagen vehicles in the country. Prosecutors plan to question ...

Business & Finance - Industries & Sectors

Taiwan China Airlines strike leaves 20,000 without flights TAIPEI: A strike by staff from Taiwan's largest carrier China Airlines left 20,000 passengers without flights Friday in the first industrial action by cabin crew in the island's aviation history.The airline was forced to cancel all flights out of the two main airports in the capital Taipei, with the only exception a chartered service for President Tsai Ing-wen who left for a state visit to Panama and Paraguay Friday morning.Crowds of passengers queued up at ...

Business & Finance - Industries & Sectors

Deutsche Bank to shut 188 German branches and cut 3000 staff FRANKFURT: Deutsche Bank confirmed on Thursday it had struck a deal with its works council to shut a quarter of its German branches, slightly fewer than expected, as it cuts costs and revamps retail banking. Germany's biggest lender has embarked on a strategic overhaul, announcing in 2015 that it would cut 9,000 staff positions, of which 4,000 would be in Germany. It will first shed almost 3,000 jobs in Germany, with 2,500 in its retail ...

Business & Finance - Industries & Sectors

Taiwan's largest airline grounds most flights as staff strike TAIPEI: Taiwan's largest airline, China Airlines, grounded most of its flights for Friday as hundreds of its flight attendants went on strike over changes to working conditions. The flight attendants' industrial action comes as the peak summer travel season begins and coincides with the Taiwan president's first foreign trip since taking power in May -- on a China Airlines flight. The company said that Friday's chartered flight for the president's trip to Panama and Paraguay ...

Business & Finance - Industries & Sectors

VW to pay $10bn in US over emissions scandal: source WASHINGTON: Volkswagen has agreed to pay $10 billion to settle a huge US civil case over its diesel emissions-cheating scandal, a person familiar with the negotiations told AFP on Thursday.As part of the settlement, Volkswagen would compensate owners of around 480,000 2.0-liter diesel cars up to $7,000 in cash each, and would also fund a program to fight air pollution, the person said.Volkswagen admitted in September that it had installed software on diesel cars that ...