International Herald Tribune (Front Page News)
Business news from The International Herald Tribune, the world's daily newspaper online.
Updated: 10 min 2 sec ago
Allianz is in 'advanced talks' on the sale of Dresdner
A deal to sell Dresdner, which analysts have estimated is worth up to €9 billion, would reverse a seven-year novelty in which Allianz bought and ran a bank as a means to distribute its insurance products.
Euro-area inflation moderates, but sentiment stays weak
Euro-area inflation slowed more than expected in August as energy prices eased, data released Friday showed, but economic sentiment deteriorated, underlining concerns about a recession.
European luxury goods groups defy downturn
Hermes, Gucci and Tod's all published earnings that topped or met market expectations.
Despite high gas prices, Europeans find driving a hard habit to break
That raises questions as to how effective high prices by themselves can be in achieving the ambitious targets for reducing carbon dioxide emissions that European leaders have committed themselves to meeting.
Categories: Breaking News
Canadian airline shuts, stranding hundreds of passengers
Hundreds of travelers, including many in Europe, were stranded after Zoom Airlines, based in Ottawa, abruptly stopped operations and sought protection from creditors.
€38 million Siemens fine overturned
The German court partly lifted verdicts against two former Siemens managers who now must be retried in a bribery investigation.
U.S. stocks fall after data
Prices fell in early trading Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed.
The elder statesman of PR
Al Golin, who received a Lifetime Achievement Award from the Public Relations Society of America in 2004, is a legend among his peers. His breakthrough came in 1957 when he placed a cold call to the founder of a barely known restaurant.
U.S. consumer spending slowed in July
Spending slowed for the second consecutive month and personal income fell as the effect of economic stimulus checks tapered off and inflation lingered, the Commerce Department said.
Carrefour holds to business forecasts
Carrefour posted a 5.5 percent increase in first-half operating profit, lifted by strong performance in its Latin American growth markets.
Private jet cards emerge as alternative to ownership
Card programs offer flexibility and quality, but not the high cost and complexities of aircraft ownership.
Michelin scraps plans for second factory in Mexico
The tire maker said slow demand in North America led to its decision to hold off on building a plant in the Mexican state of Guanajuato to supply the North American market.
Japan unveils $16.5 billion economic stimulus plan
The package will include income tax cuts, financial aid to businesses and discounts for expressway tolls, Kyodo News reported, citing lawmakers.
Categories: Breaking News
German women struggle with gender wage gap
Disparities between working men and women, especially mothers, are creating a drag on female participation in the work force and, consequently, on economic growth.
Global banks may write down $10 billion of auction-rate securities
Eight banks have agreed to buy back more than $55 billion of auction-rate securities from investors at face value in recent weeks, after regulators accused them of failing to fully explain the securities' risks to clients.
In 1975, a U.S. president had a radical proposal for the oil problem
President Gerald Ford proposed to deal with the damage from rising oil prices by raising oil prices.
Euro-area inflation moderates, but sentiment stays weak
Euro-area inflation slowed more than expected in August as energy prices eased, data released Friday showed, but economic sentiment deteriorated, underlining concerns about a recession.
Vietnam central bank resists calls to cut interest rates
The State Bank of Vietnam kept its key lending rate unchanged at 14 percent in order to fight inflation of over 28 percent, while raising the interest rate paid on bank reserves.
Euro-area inflation moderates, but sentiment stays weak
Euro-area inflation slowed more than expected in August as energy prices eased, data released Friday showed, but economic sentiment deteriorated, underlining concerns about a recession.
Canadian budget airline collapses
Zoom Airlines, a Canadian discount transatlantic carrier stung by sky-high fuel costs, has cancelled all flights and started bankruptcy proceedings, stranding passengers at several airports.
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