• Thursday, September 03 2015
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Picture: REUTERS

IMF warns G-20 of increasing downside risks to global economy

Downside risks to global economy have risen and combination of threats including slower growth in China, rising market volatility could severely cut outlook


Novartis makes history with US launch of ‘biosimilar’ drug

A Novartis logo on its headquarters in Mumbai, India. Picture: REUTERS

Novartis starts new era in US medicine with launch of first ‘biosimilar’ copy of biotechnology drug approved in US, following green light from appeals court


Stars of Greek debt drama part ways over bail-out

Alexis Tsipras, right, and Yanis Varoufakis talk during the first round of a presidential vote at the Greek parliament in Athens in February. The fearsome duo, who took Greek politics by storm, have since had a serious fallout over Greece’s bail-out deal. Picture: REUTERS/ALKIS KONSTANTINDIS

Split between Alexis Tsipras and his former finance minister epitomises Greece’s struggles with austerity


Brazil’s president says Uber costs jobs, needs regulation

Brazilian President Dilma Rousseff. Picture: REUTERS

President Dilma Rousseff criticises ride-sharing software for increasing unemployment, adding to chorus of labour concerns about world’s most valuable venture-backed start-up


China announces it will cut troop levels

Xi Jinping

President Xi Jinping says country will reduce troop numbers as it holds display of military might in parade to commemorate victory over Japan in Second World War


At least 14 killed as boat capsizes off Malaysia

Maltese marines toss bottles of water to a group of immigrants whose vessel suffered engine trouble about 30km southwest of Malta. File picture:REUTERS

Boat believed to be carrying dozens of Indonesian illegal immigrants has capsized off Malaysian coast, was heading for Sumatra when accident happened


AT HOME AND ABROAD: Old-style leftover lefty who is attracting Britain’s youth

British socialist Jeremy Corbyn not new, mass-produced, plastic politician. He says what he believes without regard for popularity


STRAIGHT TALK: Today algorithms rule the day

What are we ordinary individuals meant to do amid all of this turmoil? Stand still — don’t be moved by these gusts of wind blowing nowhere


NEWS ANALYSIS: SA and Nigeria feel the pain of China’s new focus

Neglected infrastructure looks set to keep the continent reliant on commodities


Passengers evacuated after fire at Moscow airport

Passengers planes are parked on the tarmac of Moscow's Sheremetyevo airport, Russia. Picture:  REUTERS/SERGEI KARPUKHIN/FILES

Domodedovo International Airport is briefly evacuated, about 40 flights delayed after fire breaks out in the baggage handling area


Obama secures key vote to protect Iran nuclear deal

Barack Obama. Picture: AFP PHOTO/NICHOLAS KAMM

President Barack Obama secures 34th Senate vote needed to sustain a veto of any congressional resolution disapproving a nuclear deal with Iran, ensuring accord will not fail in Congress


Satellites pick up surge in forest loss


Analysts warn of rapid loss of forests in Cambodia, parts of West Africa and Madagascar as well as Gran Chaco region of South America

Middle East

Turmoil in politics and on borders gobble Turkey model

Ahmet Davutoglu. Picture: REUTERS

With economic growth slowing down and the lira plunging to record lows, business leaders and investors are already describing 2015 as a ‘lost year’ for the Turkish economy


China’s welcome mat out for ‘brother, friend’ Bashir

Sudanese President Omar al-Bashir and Chinese President Xi Jinping at the Great Hall of the People in Beijing on Tuesday. The African leader is in China for Second World War commemorations, Picture: REUTERS/PARKER SONG

As nonsignatory of International Criminal Court China not obliged to detain Sudanese President Omar al-Bashir to face war crimes charges

Other Sport

Olympic logo joins stadium in the bin

Kazumasa Nagai, chief of the Tokyo 2020 Olympic emblem selection, is silhouetted at a press briefing on the emblem in Tokyo, Japan. The logo was scrapped on Tuesday. Picture: EPA/KIMIMASA MAYAMA

Tokyo’s 2020 Olympics organisers scrap plagiarism-tainted logo and blame loss of public confidence not lawsuit

International companies


Judge grants Uber drivers’ bid to be staff

Ruling allows drivers to challenge status as contractors to entitle them to unemployment and workers’ compensation and right to form unions


Volkswagen board says Winterkorn to remain as CEO

Volkswagen CEO Martin Winterkorn arrives at a company shareholders' meeting in Hamburg, Germany. Picture: BLOOMBERG/MICHELE TANUSSIS

Proposal opens door to appointment of an outsider as strong independent chairman to replace Ferdinand Piech


White elephants abound in India’s aviation plan


Failure to co-ordinate leaves new airports unused while hubs burst at the seams, writes Tommy Wilkes

Voestalpine CE Wolfgang Eder at the company's headquarters in Linz, Austria. Picture: BLOOMBERG/AKOS STILLER

Steel bosses see mines as chasing phantoms

Steel industry scion perplexed by denial among biggest iron-ore mines of new reality


New Carlsberg CEO warns of lower profit

CHEERS: Danish brewer Carlsberg’s first-quarter operating profit and revenue beat forecasts on Tuesday. Picture: REUTERS

Cees ’t Hart says he will review company’s strategy after a poor second quarter forced world’s fourth-largest brewer to cut its profit outlook for the year


IMF sees weaker than expected global growth

Christine Lagarde. Picture: REUTERS / RUBEN SPRICH

International Monetary Fund MD Christine warns emerging economies to ‘be vigilant for spillovers’ from slowdown in China, tighter financial conditions


Seoul proposes peace talks with China and Japan

Chinese President Xi Jinping (centre) meets delegates to the Great Hall Of The People in Beijing, China, on Tuesday. Picture: REUTERS/LINTAO ZHATAO

Southeast Asian leaders set up meeting next month as co-operation between China, Japan and South Korea gains traction as route to stability in region


Shrinking Exit Glacier a powerful sign of warming climate

Melting glaciers on Alaska’s southeastern coast near the port of Seward expose the underlying rock structure.  Picture: BRENDAN RYAN

President Barack Obama’s trek to Alaska aims to make world pay heed to damage already caused by rising seas, and demand leaders reach deal in Paris to curb carbon emissions


EU asylum rules under threat as migrants protest

Migrants protest in front of the Keleti Railway Station after police closed the station in Budapest, Hungary, on Tuesday. Picture: EPA/ZOLTAN BALOGH

Migrants protest at closure of Budapest train service in response to large-scale flouting of asylum rules

African Business

Is Africa’s Chinese-led boom coming to an end?


Disappointing growth in SA, Nigeria highlights role of China in expansion of recent years, now that Asian country’s economy is slowing down


Probe into 7-Eleven wage fraud claims

Convenience store giant 7-Eleven is accused of unfair labour practices that exploit its vulnerable workers who are often international students. File picture: REUTERS/TIM WIMBORNE

Media probe shows 620 franchisee stores in Australia doctor payrolls and underpay workers


No let-up in Macau casino slump as Chinese stay away

People cross a road near the Lisboa Casino in Macau. Chinese punters are avoiding the city amid a crackdown on graft. Picture: BLOOMBERG/JEROME FAVRE

Casino downturn drags Macau’s GDP to lowest since 2011 as new gambling resorts fail to attract Chinese


Chinese central bank to clamp down on forwards trading

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China, on Wednesday. Picture: REUTERS/ALY SONG

Bank plans to tighten rules on trading of currency forwards from October in move to curb speculation, volatility after shock devaluation of yuan last month


Merkel urges unity to battle hatred against migrants

Demonstrators make their feelings known at the weekend when more than 1,000 people marched through the streets of the German city of Dresden. Picture: EPA/OLIVER KILLIG

Chancellor Angela Merkel decries xenophobia as Germany prepares for 800,000 migrants while other European countries resist


Eurozone factory growth eases in August despite modest price rises

Picture: REUTERS

Manufacturing growth eases, despite factories barely raising prices, adding to European Central Bank’s woes as it battles to spur expansion, inflation, survey shows


EU’s Tusk condemns racism, xenophobia against migrants

ROLE: Polish Prime Minister Donald Tusk delivers a speech during a ceremony marking the 75th anniversary of Nazi Germany’s invasion of Poland in Gdansk on Monday. Picture: REUTERS

European Union President Donald Tusk condemns xenophobic reactions to a record influx of refugees and migrants pouring into Europe


Only ethically sourced cocoa for KitKat

Women from a local cocoa farmers’ association called Blayeya walk in a cocoa farm in Djangobo, in eastern Côte d’Ivoire in November.   Picture: REUTERS

Nestle first global chocolate brand to make all its products with sustainably sourced cocoa


Dearth of digital defences opens door to illicit access

Picture: REUTERS

Protection against cyber risk could cost $22-trillion by 2020, write Simon Jessop and Ross Kerber

Middle East

Investors must share benefits, says Iran

Hassan Rowhani. Picture: EPA/ABEDIN TAHERKENAREH

President Hassan Rouhani says foreign investors welcome only if they partner with Iranians, hire locals and transfer technology


Germany bullied France into policy of austerity, says Stiglitz

Joseph Stiglitz. Picture: TREVOR SAMSON

Nobel laureate economist backs outspoken Yanis Varoufakis on German tactics to browbeat France in austerity march


Summertime, and living is uneasy

Europeans on summer vacation descend on Mediterranean beaches against a backdrop of arriving African and Syrian refugees. European Union governments are squabbling in the face of the refugee crisis. Picture: REUTERS

This year the Mediterranean is stage for two seasonal dramas that shows up cracks in European Union

Atsutoshi Nishida has resigned as an adviser to Toshiba, along with two other former CEs, in the wake of a huge accounting scandal exposed by a whistle-blower. Picture: REUTERS/SUPRI

Toshiba executive pushed staff towards ‘creative accounting’

Tough management style at centre of questions over how the nuclear-to-laptops conglomerate suffers Japan’s worst corporate scandal since Olympus, write Nathan Layne and Ritsuko Ando


Drop in jobless rates adds to hints of rebound in Europe

European Central Bank president Mario Draghi, middle, and his deputy, Vitor Constancio. Picture:  EPA/ARNE DEDERT

Unemployment rate in July lowest since February 2012 and below median forecast of 11.1%


Rebekah Brooks returns as UK News Corp’s CE

Former CEO of News Corporation’s British unit Rebekah Brooks. Picture: REUTERS

British former tabloid news editor Rebekah Brooks, who resigned at height of phone-hacking scandal, will return to News Corp as CE of UK division


UK prime minister promises tough fines for not paying minimum wage

British Prime Minister David Cameron. Picture: REUTERS

David Cameron says he will introduce tough fines for company bosses who fail to pay so-called ‘national living wage’, which will hit £9/hour by end of decade


Jimmy Carter’s recipe for life sustains us all

Jimmy Carter. Picture: REUTERS/JOHN AMIS

Former US president Jimmy Carter has overcome great adversity during his remarkable life


EDITORIAL: Migrants a tough test for EU

Migrants arrive in the landing dock of the HMS Bulwark in the middle of the Mediterranean on May 13. The migrants are from North Africa, according to the  British Ministry of Defence, which made the picture available. Picture: EPA/CARL OSMOND

Beleaguered Greece bears the brunt of historic influx as Germany pushes for European Union asylum policy review and tensions rise


Chrysler continues strong sales streak

Reid Bigland. Picture: BLOOMBERG/SCOTT EELLS

Car maker’s North American unit beats estimates, driven by sales of Ram trucks and Jeep SUVs


China punishes 197 people for market ‘rumours’

China Man Group’s country chair Li Yifei was understood to be assisting police with inquiries as authorities clamped down on the spreading of rumours about the stock market. Picture: BLOOMBERG

Head of hedge fund manager at Man Group’s China business detained amid crackdown on reporting during recent market volatility


Google redesigns iconic logo for the fifth time

New Google logo. Picture: AFP/GOOGLE

Google unveils redesign of its iconic logo, the fifth such modification since the search engine giant started in 1998


Boffins upbeat over climate change pact


Experts upbeat but Bonn talks clouded by earlier failures and persistent lack of consensus


Walmart cuts work hours to save on costs

Souvenir T-shirts are seen for sale at the Walmart Neighborhood Market. Picture: REUTERS

In the midst of spending $1bn to raise employees’ wages and give them extra training, company has been cutting work hours to keep costs in check


Autonomy vote in Kiev sparks riots against separatists

Smoke rises from the parliament building in Kiev as activists of radical Ukrainian parties, including the Ukrainian nationalist party Svoboda (Freedom), clash with police on Monday. Picture: AFP PHOTO/SERGEI SUPINSKU

Controversial reforms granting pro-Russian separatists greater autonomy ignite fierce clashes outside Ukrainian parliament


Suzuki and VW finally clear their throats

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

VW to dispose of Suzuki Motor Corporation stake worth $3.8bn at close of four-year dispute


Sanctions on China hackers mulled


White House considers applying sanctions against China-based companies and individuals it believes have benefited from Chinese hacking of US trade secrets


Climate ups odds of ‘grey swan’ superstorms

This satellite photo from May 25 2015 shows a weather system stretching from northern Mexico to Oklahomain the US. The tornado came as ferocious weather battered swathes of Mexico and the southern United States, where rescuers hunted for 12 people missing in flash floods across Texas and Oklahoma that left three people dead. Picture: AFP PHOTO/HANDOUT/NASA

Climate change will boost odds for extremely rare, hard-to-predict tropical cyclones for parts of Australia, the United States and Dubai by 2100, researchers say

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