22 October, 2014 by The TZ Newswire Staff Comments Off on Chinese trainmakers set to go head to head for California deal
Chinese trainmakers set to go head to head for California deal
China’s CSR Corp Ltd is keen to supply high-speed trains to California, a company official said, in a move that will pit the trainmaker against domestic rival China CNR Corp Ltd. China has made no secret of its desire to export its high-speed technology abroad, having built over 12,000 kilometers of track at home in less than a decade. CNR and CSR are China’s top locomotive makers, while China Railway Construction Corp Ltd and China Railway Group Ltd build track.
22 October, 2014 by The TZ Newswire Staff Comments Off on Tesco scraps profit outlook as accounting black hole deepens
Tesco scraps profit outlook as accounting black hole deepens
Tesco reported a bigger than expected hole in its accounts on Thursday after finding mistakes in booking income had gone back further than initially thought, forcing Britain’s biggest grocer to scrap its full-year profit outlook. Tesco, which has lost 20 percent of its market value this month after the accounting mis-statement compounded three earlier profit warnings, scrapped the outlook as its second-quarter underlying domestic sales fell 5.5 percent. Tesco shares dropped sharply at the open, down 4.5 percent in the first minutes of trading.
22 October, 2014 by The TZ Newswire Staff Comments Off on London Markets: Tesco slumps, sends FTSE lower for first time in three days
London Markets: Tesco slumps, sends FTSE lower for first time in three days
Tesco shares slumped on Thursday after a profit update, dragging down other U.K.
22 October, 2014 by The TZ Newswire Staff Comments Off on S&P warns Europe crisis not over, France output falls
S&P warns Europe crisis not over, France output falls
Ratings agency Standard & Poor’s warned on Thursday that the euro zone crisis was entering a “stubborn phase of subdued growth”.
22 October, 2014 by The TZ Newswire Staff Comments Off on Currencies: Dollar rises against yen, gets small boost from Chinese data
Currencies: Dollar rises against yen, gets small boost from Chinese data
The dollar was slightly higher against the yen and euro, with the Nikkei Stock Average giving a small boost to the greenback amid relatively quiet trading.
read more
22 October, 2014 by The TZ Newswire Staff Comments Off on Futures Movers: Oil prices subdued as Chinese data fails to lift market
Futures Movers: Oil prices subdued as Chinese data fails to lift market
Crude-oil futures are in negative territory as a positive reading of Chinese manufacturing fails to offset the impact of a large build-up in U.S.
22 October, 2014 by The TZ Newswire Staff Comments Off on Credit Suisse returns to forecast-beating profit
Credit Suisse returns to forecast-beating profit
Credit Suisse on Thursday reported third-quarter net profit above analyst forecasts as investment banking revenue rose.