02102016Wed
Last update: Wed, 10 Feb 2016 10pm

Industries & Sectors

Business & Finance - Industries & Sectors

Lufthansa pilots threaten strike as talks fail again BERLIN: German pilots' union Vereinigung Cockpit (VC) said it was planning further industrial action at Lufthansa after talks over an early retirement scheme once again broke down.The union, which has already held four strikes so far this year over the matter, said it would give notice of any strikes.VC wants Lufthansa to maintain a scheme that allows pilots to retire early at the age of 55 and still receive up to 60 percent of their pay before regular pension payments start.However, Lufthansa says that the scheme is no longer needed given increasing life expectancies and a recent court ruling that means pilots can now work until the age of 65.Lufthansa urged the union against strike action. "We showed a willingness to compromise and offered further talks on the disputed questions," a spokesman said.The airline had made a more new offer to pilots last week that included more details of a ...

Business & Finance - Industries & Sectors

Roche says Avastin prolongs life in breast cancer study FRANKFURT: Swiss drugmaker Roche said its cancer drug Avastin helped women with a common form of breast cancer live longer without their disease worsening, when used in combination with chemotherapy drug Xeloda. Results of a Phase III study involving 185 patients with HER2-negative metastatic breast cancer found those treated with both drugs saw an almost threefold improvement in how long they lived without their disease getting worse compared with those taking Avastin alone. A second ...

Business & Finance - Industries & Sectors

Novartis reports positive trials for arthritis drug FRANKFURT: Swiss drugmaker Novartis said two late-stage trials showed its drug secukinumab improved symptoms of psoriatic arthritis, a type of arthritis associated with the skin disease psoriasis that causes joint pain, stiffness and swelling. The trials, which involved a total of more than 1,000 people, showed the drug improved peripheral joint disease and prevented joint damage compared with a placebo and helped clear patients' skin, Novartis said in a statement on Thursday. It plans to ...

Business & Finance - Industries & Sectors

Taiwan's TSMC to hire 2,200 on surging iPhone demand: reports TAIPEI: Taiwan Semiconductor Manufacturing Co., reported to be the supplier of chips for the new iPhone 6, is to recruit 2,200 engineers to meet surging demand, the company and local media said Thursday.TSMC, the world's biggest contract microchip maker by revenue, will make the hires later this year to keep pace with expansion, it said in a statement.The Economics Daily News said the recruitment drive, set for the fourth quarter, was due to by robust ...

Business & Finance - Industries & Sectors

Hyundai workers strike as land deal fuels wage row SEOUL: Some 40,000 Hyundai workers have launched a partial strike over a wage row fuelled by union anger at the South Korean carmaker's $10 billion bid for a plot of land in Seoul.Workers at the main Hyundai plant in the southern city of Ulsan and others across the country walked off their jobs for two hours on Tuesday and Wednesday, a union spokesman said. "We plan to extend it to four hours beginning Thursday," the ...

Business & Finance - Industries & Sectors

GM expects to sell 3mn cars in China this year SHANGHAI: General Motors Co expects to sell three million cars in China for the second straight year in 2014, its China President Matthew Tsien said on Wednesday. Tsien made the remarks at a media event in Shanghai. GM sold 2.26 million vehicles in China during the first eight months of the year, up 11.1 percent from a year earlier. GM has said it expects its China sales to expand 8-10 percent this year, roughly in ...

Business & Finance - Industries & Sectors

Fonterra slashes milk payout, full year profits tumble WELLINGTON: New Zealand dairy exporter Fonterra slashed its milk payout forecast to a six-year low on Wednesday as global dairy prices tumble, and said a Russian ban on dairy imports would keep global prices volatile in the coming months. The co-operative cut the price it pays its farmer shareholders for milk to NZ$5.30 ($4.26) per kg of milk solids from a previous forecast of NZ$6.00, as expected by economists.The forecast was the lowest since the ...