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Business

Sanyo cuts US plant jobs to move to Malaysia

KUALA LUMPUR, Feb 7 — Sanyo Electric Co will close an ageing solar wafer factory in California to start up operations in Malaysia as solar panel prices continue to fall.

The Japanese company’s ¥45 billion (approximately RM1.77 billion) plant in the Kulim Hi-Tech Park, Kedah, will produce 300 megawatts (MW) of wafers, solar cells and modules ... Read More
A woman walks past a “Jobs” banner hung above the Chamber of Commerce in Washington February 6, 2012. — Reuters pic
A woman walks past a “Jobs” banner hung above the Chamber of Commerce in Washington February 6, 2012. — Reuters pic

Greeks delay bailout talks as Merkel demands action

PARIS, Feb 7 — German Chancellor Angela Merkel told Greece yesterday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country’s political leaders responded by ... Read More

Yum profit up as China keeps growing

NEW YORK, Feb 7 — KFC parent Yum Brands Inc reported fourth-quarter earnings that topped Wall Street’s view after accelerating sales and operating profit at established restaurants in China helped ease ... Read More

MF Global shortfall worsened as bankruptcy neared

WASHINGTON, Feb 7 — In its chaotic final days, MF Global’s floundering brokerage used increasingly large chunks of customer money in an effort to keep the company afloat, creating a massive shortfall in ... Read More

Wall St edges lower after string of gains

NEW YORK, Feb 7 — Stocks closed slightly lower yesterday as lingering questions about Europe’s debt crisis and corporate earnings overshadowed growing optimism about economic growth after a five-week ... Read More

China bans airlines from paying EU carbon charges

BEIJING, Feb 6 — China said today it has banned its airlines from complying with an EU scheme to impose charges on carbon emissions opposed by more than two dozen countries including India, Russia and the ... Read More

Lamborghini to follow Porsche with SUV

BERLIN, Feb 6 — Lamborghini, the maker of low-slung supercars once advertised as “closer to the road,” is planning a new model that will be further from the tarmac than ever: an SUV.The Italian brand, ... Read More

Miners drag on FTSE as traders eye Glencore deal premium

LONDON, Feb 6 — The FTSE 100 backtracked from last week’s strong gains by midsession today, led lower by Glencore and Xstrata as concern about prospects for their planned merger helped spark a bout of ... Read More

Global oil demand forecasts could be cut this week

LONDON, Feb 6 — The International Energy Agency may reduce its world oil demand forecast for 2012 this week due to a weaker outlook for the world economy, even though some evidence points to stronger ... Read More

UK gas prices shoot to 6-year high due to cold

LONDON, Feb 6 — UK spot gas prices rose to their highest levels since early 2006 today morning as extreme cold continued to sweep across Britain and most parts of Europe.Bitterly cold weather throughout ... Read More

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