AFP Japan’s economy grew more than initially thought in the June quarter, revised data showed Monday, supplying more evidence of an economic recovery which is likely to clear the way for a hike in the nation’s sales tax. The growth figures, which come after…
At a high-tech factory in the world’s fastest growing auto production hub, industrial robots and white-suited workers put the finishing touches to hundreds of cars rolling off the assembly line each day. It could be a scene from Toyota City or Detroit…
Argentina has urged a US appeals court to reconsider an order for the country to pay in full holders of $1.47 billion in defaulted debt. In a petition filed Friday, Argentina pointed to “grave legal errors” in last month’s 2nd US Circuit Court of Appeals…
Greece’s prime minister said Saturday he was confident his country would return to growth in 2014 after a brutal six-year recession, and pledged to push for an easing of austerity measures. Antonis Samaras said international organisations were all predicting…
The takeover of US pork giant Smithfield Foods by China’s Shuanghui International Holdings has received approval from a key US national security review, the two companies announced. The high-level Committee on Foreign Investment in the United States…
A tsunami generated by a massive earthquake off Alaska could cause major damage to California’s economy and force 750,000 people to evacuate, a report published Wednesday warned. One third of all boats in California’s marinas could be damaged or sunk…
President Barack Obama’s plan to conduct punishing military strikes on Syria passed its first congressional hurdle Wednesday, paving the way for full Senate debate on the use of force. The Senate Foreign Relations Committee passed an amended resolution…
Global smartphone sales are expected to top one billion in 2013, driven by low-cost handsets and gains in emerging markets, a research firm said Wednesday. International Data Corp said it sees the smartphone market growing 40 percent this year, and…
Debt-struck Madrid is betting its penny-pinching bid to host the Olympics in 2020 will reap rich economic dividends for recession-hit Spain. The Spanish capital is banking on a low-cost $5 billion (3.8 billion euros) Olympic bid that relies heavily…
US auto sales continued to accelerate in August, as GM, Toyota, Ford and Chrysler posted double-digit gains Wednesday. Ford forecast that total industry sales would rise 17 percent in August once all automakers report results. That would translate to…
Irish low-cost airline Ryanair issued a shock profit warning on Wednesday, sparking a share price plunge. The airline said the group’s annual net profits could miss forecasts owing to intense competition and falling airfares. The gloomy news sent shockwaves…
Russian President Vladimir Putin said Wednesday US intelligence leaker Edward Snowden, who received asylum in Russia, is a “strange guy” who condemned himself to a difficult fate. “You know, I sometimes thought about him, he is a strange guy,” ex-KGB…
Barclays will launch a £5.8-billion rights issue next week to help meet a regulatory demand to plug a hole in its balance sheet, the British bank said on Wednesday. The bank will sell the new shares on September 13 priced at 185 pence each — a steep…
New data on Wednesday confirmed that the eurozone escaped an 18-month recession in the second quarter but the outlook is difficult and the bloc still lags well behind in global terms. Analysts welcomed the figures, which reinforce other survey findings…
Top US lawmakers began rallying behind President Barack Obama’s plan to launch military strikes against Syria to warn the regime and nations like Iran that the world will never condone chemical weapons. After a passionate plea by US Secretary of State…