Tue09022014

LAST_UPDATETue, 02 Sep 2014 3am

Japan’s Auto Sales Tumble To Three-Year Low Following Sales-Tax Hike

TOKYO - Japan’s auto sales tumbled to a three-year low last month, the latest sign that consumer spending is slumping in the world’s third-largest economy following a sales-tax increase.

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China Eastern Airlines Net Profit Drop 98pc

China Eastern AirlinesBEIJING - The net profit of China Eastern Airlines, one of the state-run carriers, plunged by 97.76 per cent year-on-year (yoy) in the first half of 2014 to 14 million yuan (US$2.28 million) .

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China Gives Microsoft 20 Days To Provide Explanation In Anti-Trust Probe

Pic: ReutersCHINA: A Chinese anti-trust regulator said on Monday it has given Microsoft Corp (MSFT.O) 20 days to reply to queries on the compatability of its Windows operating system and Office software suite amid a probe into the world's largest software company.

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China Banks Seek New Lending Horizons As Bad Debts Rise

Some banks, like Bank of China (BoC), were also looking to extend loans to domestic clients through their overseas branches to capitalise on higher interest margins. — Reuters pic SHANGHAI— Grappling with a slowing economy, China’s biggest banks are turning their back on mainstay borrowers like manufacturers and courting high growth industries such as healthcare, food and IT in a bid to boost revenue.

Read more: China Banks Seek New Lending Horizons As Bad Debts Rise

Euro Stumbles On Ukraine Worries, Dollar Up

Pro-Russian separatists stand in front of destroyed trains at a railway station in the eastern Ukrainian town of Ilovaysk, August 31, 2014. — Reuters pic SYDNEY— The euro slipped to a fresh one-year low early today as the situation in Ukraine worsened, although a holiday in the United Statesand major central bank events later in the week will probably keep investors sidelined.

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Citi To Pay Allowance To Compensate For Limited Bonuses

According to the Financial Times, half of the bankers had received similar allowances in the past after Citi introduced them a few years ago to mitigate the impact of regulatory demands for higher bonus deferrals for key staff. — AFP pic LONDON— Citigroup Inc has told senior staff in Europe that they would receive fixed monthly pay in addition to their salaries in an attempt to compensate for rules that limit bonuses to up to twice the level of base salaries, the Financial Times reported, citing several people.

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Will Latest MAS Revamp Work?

Malaysia Airlines“Success is by no means guaranteed.”

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Power Cuts Worsen In India

Pic: TRPNEW DELHI: Blackouts in India widened as inadequate coal supplies forced plants to shut down, after increased industrial activity and a monsoon deficit boosted electricity demand from factories and households.

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Cyber-Attacks May Trigger Major Banking System Bailout

Pic: TRPNEW YORK: Bankers and US officials have warned that cyber-terrorists will try to wreck the financial system’s computer networks.

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Fuel Subsidy Storm Clouds Indonesia Power Handover

JAKARTA - Just weeks before Joko Widodo takes office, a ham-fisted attempt by the state energy firm to tackle huge fuel subsidies has sparked panic buying and highlighted the most pressing economic issue confronting Indonesia’s next president.

Read more: Fuel Subsidy Storm Clouds Indonesia Power Handover