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WASHINGTON ,United States (AFP) — US doughnut chain Krispy Kreme is being bought by the German investment group JAB Holding, folding it into JAB’s strong portfolio of European and North American coffee and coffee-shop brands. JAB said Monday that its unit JAB Beech would pay $1.35 billion to take the New York Stock Exchange-listed Krispy Kreme Doughnuts private. That will put the nearly 80-year-old doughnut and coffee chain, with more than 1,100 shops in 26 […]
STOCKHOLM , Sweden (AFP) — Canadian mining company Lucara Diamond on Monday announced the sale of a huge 813 carat diamond for a record $63 million (55 million euros), ahead of the sale of an even bigger one. The sale of the massive “Constellation” diamond was “the highest price ever achieved for a rough diamond, breaking all records,” CEO William Lamb said in a statement. The name of the buyer for the diamond, discovered in […]
BEIJING, China (AFP) — US social network Facebook has won a trademark case in China against a local company, state media reported Monday, weeks after a court ruled against tech giant Apple in a similar suit over its iPhone brand. China’s trademark authorities in 2014 approved an application by a beverage factory to register the brand “face book” for products such as drinks and potato crisps, state broadcaster China Central Television’s English channel said on a […]
Scandal-hit Toshiba on Friday appointed a new president to steer the vast conglomerate past a huge accounting scandal that has hammered its reputation. Company veteran Satoshi Tsunakawa, 60, a senior vice president who joined Toshiba in 1979, will replace incumbent chief Masashi Muromachi in June, Toshiba said. Muromachi became interim president in July last year after top executives resigned over the scandal. The company on Friday also named a new chairman, saying that new leadership […]
DETROIT , United States (AFP) — Self-driving cars could hit roads within five years, the head of Fiat Chrysler Automobiles said Friday, days after the company announced an alliance with Google parent Alphabet. Chief executive Sergio Marchionne declined to disclose financial details of the partnership or a timetable for building minivans that will expand the Internet company’s test fleet of autonomous vehicles. “It’s not sort of ‘pie-in-the-sky,’ the thing is real and it’s coming,” Marchionne […]
QUEZON City, Philippines – The European Union continues consider the Philippines as a good investment. destination. During the celebration of the EU delegations 25th anniversary in the Philippines, Ambassador Franz Jessen, head of the EU delegation, discussed the Philippines’ status as EU’s investment destination as well as giving an update to the EU’s development project in Mindanao. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Aimee Mendoza and Uploaded by Vince Alvin […]
BERLIN, Germany (AFP) – The EU won’t sacrifice its high food safety standards for better US auto market access in a transatlantic trade deal being negotiated, a German minister said Friday. The comments by Agriculture Minister Christian Schmidt were the latest criticism of the thorny negotiations toward sealing a wide-ranging pact that would create a free-trade zone covering 850 million people. Washington and Brussels want the Transatlantic Trade and Investment Partnership (TTIP) completed this year […]
WASHINGTON, United States (AFP) – by Paul HANDLEY US employers cut back hiring in April in the wake of the economy’s sharp downturn, raising worries of a protracted slowdown in the world’s largest economy. Net new jobs fell unexpectedly to the lowest level in seven months, with just 160,000 additional jobs generated, over 40,000 less than economists predicted, the Labor Department reported Friday. That was still a strong enough pace to continue absorbing new entrants to […]
WASHINGTON, United States (AFP) – Seven big banks, including Bank of America, JP Morgan, Credit Suisse and Deutsche Bank, have agreed to pay a total of $324 million to settle a lawsuit accusing them of market manipulation of interest rates. The settlement Tuesday followed a federal judge’s ruling in March admitting the class action lawsuit brought by investors and pension funds against the banks. In all about 15 banks were named in the suit […]
MILAN, Italy (AFP) – German banking giant Deutsche Bank is the target of a criminal probe into government bond market manipulation, the bank and plaintiffs said on Friday. Five former Deutsche Bank top managers are being investigated by a prosecutor in Trani, southern Italy, including its ex-chief executive Josef Ackermann, consumer associations Adusbef and Federconsumatori said after filing their legal complaint. They accuse Deutsche Bank of selling “massive” amounts of Italian government debt between January […]
TOKYO, Japan (AFP) — Tokyo stocks slipped Friday as traders returned from a three-day break, with Takata hammered by news US regulators had ordered it to expand recalls of faulty airbags blamed for at least 13 deaths globally. The US National Highway Traffic Safety Administration on Wednesday ordered the embattled company to recall between 35 and 40 million more airbags installed in US cars. That is on top of the 50 million already recalled globally, including […]
HONG KONG, China (AFP) — Asian stock markets moved cautiously Thursday as worries over the global economy sap confidence but the dollar held the previous day’s gains and oil prices extended a rally. A disappointing set of readings and announcements from the world’s biggest economies over the past week have cast a pall over stock markets, reversing recent gains that were fuelled by hopes a recovery was taking hold. New York provided another negative lead, […]
