Oil prices rose above US$119 a barrel Thursday in Asia on fears that Tropical Storm Gustav could strengthen on its way toward crude and natural gas rigs and refineries in the Gulf of Mexico.
Sony Corp. President Ryoji Chubachi warned Thursday that stagflation -- slowing economic growth and quickening inflation -- in the U.S., Europe and Japan is beginning to undermine consumer demand in Asia.
Oil prices spiked to over US$118 a barrel Wednesday on growing concerns that Tropical Storm Gustav may disrupt operations in the Gulf of Mexico, home to a quarter of U.S. crude production. A weaker dollar also helped lift prices.
Bank managers advising the government on the sale of Alitalia were to discuss the failing airline's recovery plan Wednesday with Air France-KLM, Italian news reports said.
Alcatel-Lucent shares jumped to their highest level in two weeks Wednesday on a report that the company is close to naming a successor for outgoing chief executive Patricia Russo.
A federal jury awarded Mattel Inc. $100 million in damages after a serious girl fight between the house of Barbie and the maker of her chief rival, the pouty-lipped Bratz dolls.
Flag carrier Air China saw its net profit in January-June fall 21 percent, sapped by surging fuel costs and waning passenger demand.
Oil prices reflected changes in the U.S. dollar's exchange rate on Tuesday, rising as the currency weakened and falling back when the greenback strengthened.
Virgin Atlantic Airways says a record number of business travelers sent annual pretax profits soaring 38 percent before one-off items.
Oil prices rose above US$119 a barrel Thursday in Asia on fears that Tropical Storm Gustav could strengthen on its way toward crude and natural gas rigs and refineries in the Gulf of Mexico.
Sony Corp. President Ryoji Chubachi warned Thursday that stagflation -- slowing economic growth and quickening inflation -- in the U.S., Europe and Japan is beginning to undermine consumer demand in Asia.
Oil prices spiked to over US$118 a barrel Wednesday on growing concerns that Tropical Storm Gustav may disrupt operations in the Gulf of Mexico, home to a quarter of U.S. crude production. A weaker dollar also helped lift prices.
Bank managers advising the government on the sale of Alitalia were to discuss the failing airline's recovery plan Wednesday with Air France-KLM, Italian news reports said.
Alcatel-Lucent shares jumped to their highest level in two weeks Wednesday on a report that the company is close to naming a successor for outgoing chief executive Patricia Russo.
A federal jury awarded Mattel Inc. $100 million in damages after a serious girl fight between the house of Barbie and the maker of her chief rival, the pouty-lipped Bratz dolls.
Flag carrier Air China saw its net profit in January-June fall 21 percent, sapped by surging fuel costs and waning passenger demand.
Oil prices reflected changes in the U.S. dollar's exchange rate on Tuesday, rising as the currency weakened and falling back when the greenback strengthened.
Virgin Atlantic Airways says a record number of business travelers sent annual pretax profits soaring 38 percent before one-off items.
Oil prices ended a choppy session slightly higher Monday, edging back above $115 a barrel after Tropical Storm Gustav formed in the Caribbean.
Japan is drawing up an economic stimulus package worth eight trillion yen ($73 billion) to help businesses and consumers cope with soaring fuel and commodity prices, news reports said Saturday.
Treasurer Wayne Swan says Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd.
Federal regulators on Friday shut down Columbian Bank and Trust Co. in Kansas, which was struggling with losses on soured real estate loans. It was the ninth failure this year of a federally insured bank.
Billionaire investor Warren Buffett said Friday the U.S. economy continues to be in a recession, by his definition, and will continue to be for at least several more months.
Customers in China of Apple's iTunes online music store were unable to download songs this week, and an activist group said Beijing was trying to block access to a new Tibet-themed album.
Oil prices plunged more than $6 a barrel Friday, erasing gains from the previous day's big rally after the dollar strengthened and Russian troops began a long-awaited pullback in Georgia.
Oil prices shot up more than $5 a barrel Thursday, rising to the highest level in over two weeks as escalating tensions with Russia stoked fears of supply disruptions to the West.
Nintendo's hit Wii console, with its wandlike remote controller, has been targeted in patent infringement complaints by a U.S. technology company.
Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.
Qantas Airways reported Thursday a 44 percent rise in annual net profit, but acknowledged it is beginning to feel the effect of a slowing economy and higher fuel costs.
Japan says its trade surplus in July fell 86.6 percent from a year earlier as imports grew amid higher prices for oil and other commodities.
Britain's competition watchdog said Wednesday that airport operator BAA should sell three of its seven airports, including two in London.
Airport operator BAA may have to sell three of its seven British airports, a competition watchdog said Wednesday.
Analysts say Hong Kong tycoon Li Ka-shing's conglomerate Hutchison Whampoa Ltd. could see a sharp decline in net profit during the first half of the year amid lower gains from asset sales.
Zimbabwe's inflation rate has soared in the past three months and is now at 11.2 million percent, the highest in the world, according to the country's Central Statistical Office.
Oil prices briefly dropped below $112 a barrel on Tuesday, extending the previous session's decline as Tropical Storm Fay avoided oil-producing infrastructure in the Gulf of Mexico.
Japan's central bank left its key interest rate steady Tuesday, choosing again to hold to the status quo amid increasing nervousness about the country's slowing economy.
China's key Shanghai Composite Index fell 5.3 percent Monday in a broad sell-off led by airlines, refiners and other large capitalized shares. Analysts said the selling reflected disappointment over a lack of new market support from the government.
Australian airline Virgin Blue Holdings reported Tuesday a nearly 55 percent drop in annual net profit, hurt by record jet fuel costs.
Crude prices settled below $113 a barrel for the first time in over three months Monday as Tropical Storm Fay steered clear of oil-producing infrastructure in the Gulf of Mexico.
BHP Billiton, the world's largest mining company, reported a record annual profit on Monday and said it expects demand for commodities to remain strong.
Industrial output in the United States rose in July at a slightly better pace than expected as a further rebound in the auto industry offset a big plunge in output at the nation's utilities.
The dollar has climbed against the euro and pound amid hopeful signals on the U.S. economy, falling oil prices and gloom about the European economic outlook.
Oil has fallen to its lowest price in three months, briefly touching the $111 level after the dollar has muscled higher and OPEC has predicted the world's thirst for fuel next year will fall to its lowest point since 2002.
The head of BAA, Britain's main airport operator, said Saturday that he expects regulators to force the company to sell some of its main airports when it publishes provisional findings about the company's near monopoly in the sector this week.
Oil prices fell to the $111 level Friday, reaching their lowest point in more than three months after the dollar muscled higher and OPEC predicted world demand for energy will keep falling.
China's National Statistics Bureau has reported that spending on real estate and other fixed urban assets rose 27.3 percent in the first seven months of the year compared with the same period a year ago, accelerating amid reconstruction of areas devastated by May's earthquake.
India's annual inflation hit a 13-year high of 12.44 percent, despite months of monetary tightening, the Ministry of Commerce announced Thursday.
An engine access panel fell off a Qantas Airways jumbo jet en route to Singapore from Melbourne, Australia, on Friday, the latest in a string of incidents for the airline.
An engine access panel fell off a Qantas Airways jumbo jet en route to Singapore from Melbourne, Australia, on Friday, the latest in a string of incidents for the airline.
British Airways, American Airlines and Spain's Iberia said Thursday they have signed a joint business agreement to cooperate on flights between North America and Europe.
This section of CNN Business Traveller aims to keep you up to date with the latest developments in the high flying world of the road warrior.
Perched on the River Rhine with Germany and France bordering it on either side, the Swiss city of Basel stands at a crossroads between the three countries.
Euro-zone growth braked sharply in the second quarter as major economies Germany, France and Italy shrank, EU statistics showed Thursday, with high fuel and food prices holding back consumer spending.
Brewer InBev's second-quarter profit climbed 8.6 percent despite flat sales and higher costs as it paid less tax.
Oil prices rebounded Wednesday, jumping back to $116 a barrel after the government reported a bigger-than-expected drop in U.S. gasoline supplies. But more signs of dwindling U.S. demand cast doubt on the rally's longevity.
The jobless rate in Britain rose by 0.2 percent to 5.4 percent in the three months ending in June as the number of unemployed people jumped by 60,000, the government said on Wednesday -- yet more evidence of a looming recession.
China's retail sales growth accelerated to a new decade-high level in July, according to data reported Wednesday, in a positive sign for efforts to boost slowing economic growth.
ING Groep NV, the Dutch insurer and bank, said Wednesday its second-quarter earnings fell 25 percent, mostly due to smaller gains on investments.
Oil prices fell again Tuesday, dampened by a stronger U.S. dollar and more evidence that developed countries such as the United States are cutting back on their energy use.
Consumer price inflation rate leapt to 4.4 percent in July, the government said Tuesday, making it difficult for the Bank of England to consider lowering interest rates to ward off the risk of recession.
UBS AG, one of the hardest-hit banks in the subprime mortgage crisis, says that it had further losses and writedowns of US$5.1 billion during the second quarter of 2008.
South Korea announced pardons for three convicted high-profile corporate tycoons Tuesday, part of a traditional presidential amnesty ahead of the country's Liberation Day.
China's politically volatile inflation eased in July, as sharp rises in food costs slowed, according to data reported Tuesday, giving Beijing more leeway to try to boost slowing economic growth.
Oil prices finished at a new three-month low Monday after briefly dropping below $113 a barrel mark, as the dollar extended its rebound and more signs emerged that China's energy demand could be leveling off.
Virgin Atlantic Airways president Richard Branson has written to both U.S. presidential candidates to warn that a proposed alliance between British Airways and American Airlines would severely damage competition on trans-Atlantic routes.
From the fingerprints and digital imaging stored on e-passports, to iris scanners set up at airport immigration, biometrics are a growing part of the traveller experience.
This month, we're all about "Business Travellers without Borders."
China Eastern Airlines said its agreement to sell a strategic stake to Singapore Airlines and Temasek Holdings has expired and cannot be completed, although the carrier is still looking for strategic investors.
China's wholesale inflation in July accelerated to its highest rate in 12 years, adding to the government's headaches, as it tries to rein in surging consumer prices, according to data reported Monday.
Intel Corp. says it plans to sell its new generation of chips for desktop computers under the established "Core" brand, with the first chips of the new line to be called Core i7.
Oil prices dropped to near $119 a barrel Friday in Asia as a strengthening dollar and worries about economic growth offset supply concerns over Turkish pipeline sabotage that was claimed by Kurdish rebels.
Royal Bank of Scotland Group reported Friday the largest six-month loss in British banking history of 802 million pounds ($1.5 billion) after taxes.
Annual inflation in India passed 12 percent, reaching a thirteen-year high, despite months of increasingly restrictive monetary policy, the nation's Ministry of Finance reported Thursday.
Oil prices jumped back above $120 a barrel Thursday, halting a steep three-day slide after Kurdish rebels claimed responsibility for a fire at key Turkish pipeline that supplies Western countries.
The European Central Bank and the Bank of England both left their benchmark interest rates unchanged Thursday as they ponder how best to steer their economies between the shoals of mounting inflation and slowing growth.
South Korea's central bank raised its key interest rate Thursday for the first time in a year in an attempt to cope with spiraling inflation.
Toyota's fiscal first-quarter profit plunged 28 percent from the previous year as slipping North American sales, a strong yen and rising material costs dented the earnings of the Japanese automaker.
Britain's third largest bank Barclays PLC says its first-half profit fell by more than a third, as securities trading slowed and credit writedowns continued.
Japan Airlines Corp. reduced its losses for the fiscal first quarter compared to the previous year, thanks to cost cuts such as the use of smaller aircraft and more efficient flight routes.
Australian ports and rail operator Asciano Group's chief executive Mark Rowsthorn said Wednesday his board is open to a fair takeover offer after earlier this week rejecting an unsolicited 2.89 billion Australian dollar (US$2.69 billion) bid.
Oil prices are fluctuating after a government report showed gasoline stockpiles fell more than forecast last week and crude oil supplies unexpectedly grew.
French bank BNP Paribas said Wednesday profit and revenue fell for the third consecutive quarter in the April-June period as the global financial crisis continued to weigh on earnings.
Cathay Pacific Airways, Asia's third-largest carrier, said Wednesday it swung to a loss in the first half of the year as soaring jet fuel costs and a hefty U.S. fine offset growth in passenger and cargo traffic.
The U.S. Federal Reserve has approved an application by China's biggest lender, the Industrial & Commercial Bank of China, or ICBC, to open a branch in New York.
Oil prices sank as low as $118 a barrel Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products.
Carlsberg, the world's fifth largest brewer, reported a 36 percent rise in second-quarter net profit on Tuesday.
French bank Societe Generale SA, recovering from a multibillion dollar trading scandal, said Tuesday that net profit fell 63 percent in the second quarter after the ongoing crisis in world financial markets led to a loss in its investment banking unit.
Air France-KLM said Tuesday it would deepen a cost cutting plan this year after rising oil prices led to a higher fuel bill and a steep drop in first quarter earnings.
British Airways, which is already in talks with Spain's Iberia SA over a merger, said Monday it hopes to seal an alliance with its U.S. partner American Airlines within weeks.
Rising unemployment, spiking foreclosures and gyrating energy prices are likely to weigh on the Federal Reserve, as it considers monetary policy Tuesday.
Government figures say the New Zealand economy is in recession.
Oil prices plunged in a massive sell-off Monday, briefly falling below $120 a barrel for the first time since early May after Tropical Storm Edouard appeared unlikely to threaten oil and natural gas facilities in the Gulf of Mexico.
Futures trader Jerome Kerviel's 24-year-old assistant has become the second person handed preliminary charges in the multibillion-dollar Societe Generale banking scandal, a French judicial official said Monday.
Nothing says "Wish you were here" quite as well as the good old postcard.
HSBC Holdings, Europe's largest bank by market value, reported Monday its steepest fall in profit since 2001 as costs for bad U.S. mortgage loans mounted.
Brazilian mining company Vale has placed a $1.6 billion order for 12 huge iron ore carriers from China's Rongsheng shipbuilder, and the vessels will be the biggest of their kind in the world, Vale said.
Germany automaker BMW says second-quarter net profit slid nearly 33 percent and it has abandoned its yearly profit forecast, blaming a drop in U.S. sales, rising costs for raw materials and the strong euro.
British Airways reported a huge fall in its first quarter earnings on Friday, as chief executive Willie Walsh said a combination of soaring oil prices and a global economic slowdown presented "the worst trading environment the industry has ever faced."
Yearly inflation in the 15 euro nations rose to a record high of 4.1 percent in July, the EU statistical agency Eurostat reported Thursday.
Pharmaceutical company AstraZeneca posted a 13 percent rise in second quarter net profit on Thursday, and increased its full-year earnings per share target as it continues to strengthen its drug pipeline.
Deutsche Bank's net profit fell 64 percent in the second quarter as financial market turbulence led to investment losses, the bank said Thursday.
German chemical company BASF's net profit rose 27 percent in the second quarter on higher sales, the company said Thursday.
Royal Dutch Shell has booked a record net profit of $11.6 billion (€7.45 billion) in the second quarter, up 33 percent from the same period a year ago, thanks to high oil prices and the weak dollar.
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