Developing

  • Ofcom to probe BSkyB over sports channel supply

    Reuters - 3 hours ago

    LONDON (Reuters) - Ofcom said on Wednesday that it would launch an investigation into satellite TV firm BSkyB over the wholesale supply of its sports channels after a complaint by Sky's increasingly bitter rival BT. Ofcom said the probe would centre on BT's claims that the terms on which Sky offered its sports channels, Sky Sports 1 and Sky Sports 2, to BT's YouView platform amounted to an abuse of Sky's market dominance. BT has complained to Ofcom that Sky is making the supply of the two channels conditional on BT making its own sports channels available to Sky for retail on Sky's platform. ... More »Ofcom to probe BSkyB over sports channel supply

  • UK regulator to probe BSkyB over sports channel supply

    Reuters - 3 hours ago

    LONDON (Reuters) - Britain's telecom regulator said on Wednesday that it would launch an investigation into satellite TV firm BSkyB over the wholesale supply of its sports channels after a complaint by Sky's increasingly bitter rival BT. Ofcom said the probe would center on BT's claims that the terms on which Sky offered its sports channels, Sky Sports 1 and Sky Sports 2, to BT's YouView platform amounted to an abuse of Sky's market dominance. ... More »UK regulator to probe BSkyB over sports channel supply

  • China completes Internet, phone monitoring scheme for Tibet

    Reuters - 3 hours ago

    BEIJING (Reuters) - China has completed a monitoring scheme in restive Tibet that requires all telephone and internet users to register under their real names, state media said on Wednesday, as part of a campaign to crack down on what officials describe as rumours. Tibetans are already closely watched, due to decades of often violent unrest in protest at Chinese rule, which Beijing blames on exiled spiritual leader the Dalai Lama. By the end of last year, all 2.76 million fixed line and mobile telephone users and 1. ... More »China completes Internet, phone monitoring scheme for Tibet

  • Pratt wins deal to power 100 Embraer E-Jets for ILFC

    Reuters - 3 hours ago

    PARIS (Reuters) - Pratt & Whitney said it will provide engines for up to 100 Embraer E-Jets on order from International Lease Finance Corp . The agreement represents up to 200 PurePower PW1900G engines with deliveries scheduled to begin in 2018, Pratt said at the Paris Airshow on Wednesday. (Reporting by Alwyn Scott; Editing by James Regan) More »Pratt wins deal to power 100 Embraer E-Jets for ILFC

  • Santander says does not need to make new bad debt provisions

    Reuters - 3 hours ago

    SANTANDER, Spain (Reuters) - Spanish banking group Santander does not need additional provisions to meet new Bank of Spain rules on recognising bad debt, Deputy Chairman Matias Rodriguez Inciarte said on Wednesday. Economy Minister Luis de Guindos said on Tuesday that Spanish banks would face extra provisions against loan losses of up to 10 billion euros (8.54 billion pounds) over the next two years to meet new rules on loan refinancings. (Reporting By Andres Gonzalez; Editing by Elisabeth O'Leary) More »Santander says does not need to make new bad debt provisions

  • Brawn needs brains to avoid tyre trouble

    Reuters - 3 hours ago

    By Alan Baldwin LONDON (Reuters) - Mercedes principal Ross Brawn, a past master at finding Formula One loopholes, may need to pull another rabbit from his magician's hat on Thursday if his team are to escape potentially heavy sanctions. The burly Englishman will explain to an International Tribunal hearing in Paris why the team of 2008 world champion Lewis Hamilton and Germany's Nico Rosberg should escape punishment for apparently breaking strict rules on testing. ... More »Brawn needs brains to avoid tyre trouble

  • EU fines Lundbeck, 8 others 146 million euros for blocking cheaper drugs

    Reuters - 3 hours ago

    By Foo Yun Chee BRUSSELS (Reuters) - Nine drugmakers, including Denmark's Lundbeck , were fined a total of 146 million euros (124 million pounds) by EU antitrust regulators on Wednesday for blocking the supply of a cheaper anti-depressant medicine to the market. The punishments follow a 2009 report by the European Commission on the pharmaceutical sector, which said "pay-for-delay" deals lead to consumers paying as much as 20 percent more for their medicines. The EU action came two days after the U.S. Supreme Court said that U.S. ... More »EU fines Lundbeck, 8 others 146 million euros for blocking cheaper drugs

  • Airbus wins A350 order from Air France-KLM

    Reuters - 3 hours ago

    PARIS (Reuters) - Airbus sealed a long-awaited order for 25 A350-900 aircraft from Air France-KLM worth $7.2 billion (4.6 billion pounds) at list prices after Rolls-Royce and the airline reached a deal over engine maintenance. The airline also took a further 25 options on the planes, the companies said at the Paris Airshow on Wednesday. Industry sources had told Reuters on Tuesday the carrier was about to announce the deal after talks narrowly avoided collapse. ... More »Airbus wins A350 order from Air France-KLM

  • Spanish digital TV operators must pay back 260 million euros - EU

    Reuters - 3 hours ago

    BRUSSELS (Reuters) - Spanish television operators must pay back the 260 million euros (223 million pounds) they received to roll out digital TV in rural parts of Spain after the European Commission ruled this amounted to illegal subsidies. The Commission said on Wednesday that money given by Spanish authorities from 2005 to 2008 to companies offering digital terrestrial television (DTT), which uses traditional antennas, was unfair to competitors. ... More »Spanish digital TV operators must pay back 260 million euros - EU

  • Kuroda to ride out market storm without more stimulus

    Reuters - 3 hours ago

    By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda has no intention of blinking first in the face off with Japan's markets even as central bank officials grow increasingly worried about price volatility. Instead, he wants the BOJ to ride out the market storm in the hope that a pick up in the economy will turn investor sentiment and persuade them his policy prescription is working, sources familiar with central bank thinking say. ... More »Kuroda to ride out market storm without more stimulus

  • Leasing firm CIT orders 30 Boeing 737 MAX planes

    Reuters - 4 hours ago

    PARIS (Reuters) - Boeing has won an order for 30 of its 737 MAX 8 aircraft worth $3 billion (1 billion pounds) at list prices from leasing firm CIT Group , the two companies said at the Paris Airshow on Wednesday. The deal comprises 10 new aircraft and the conversion of 20 existing 737 orders, with deliveries due in 2019 and 2020, CIT said. It came two days after Boeing announced 737 MAX orders from SkyMark Airlines and TUI Travel . CIT is also "seriously looking" at the 787-10 aircraft that Boeing launched on Tuesday, said Jeff Knittel, president of transportation finance at CIT. ... More »Leasing firm CIT orders 30 Boeing 737 MAX planes

  • New Eurofighter chief aims to make jet cheaper

    Reuters - 4 hours ago

    PARIS (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS unit Airbus Military who became Eurofighter's chief executive in April, said the goal was to win at least 25 percent of 1,000 potential aircraft sales in the global market. ... More »New Eurofighter chief aims to make jet cheaper

  • Boeing says 737 MAX to enter service in third quarter of 2017

    Reuters - 4 hours ago

    PARIS (Reuters) - Boeing's upgraded and re-engined version of its 737 aircraft will come into service in the third quarter of 2017, around six months earlier than scheduled, a company executive said at the Paris Airshow. This helps the 737 MAX close the gap with its main rival - the upgraded Airbus 320neo due to enter service in October 2015 - in a highly competitive market segment making up almost 60 percent of all passenger aircraft in service. ... More »Boeing says 737 MAX to enter service in third quarter of 2017

  • Japan finds highly toxic strontium in Fukushima groundwater

    Reuters - 4 hours ago

    By Osamu Tsukimori and Yuka Obayashi TOKYO (Reuters) - High levels of a toxic substance called strontium-90 have been found in groundwater at the devastated Fukushima nuclear power plant in Japan, the utility that runs the facility said on Wednesday. Strontium-90 is a by-product of the fission of uranium and plutonium in nuclear reactors as well as nuclear weapons, the U.S. Environmental Protection Agency says on its website. ... More »Japan finds highly toxic strontium in Fukushima groundwater

  • WikiLeaks' Assange fears U.S., says will stay in embassy

    Reuters - 4 hours ago

    By Andrew Osborn LONDON (Reuters) - WikiLeaks founder Julian Assange says he will not leave the sanctuary of the Ecuadorean Embassy in London even if Sweden stops pursuing sexual assault claims against him because he fears arrest on the order of the United States. In an interview with Reuters and others to mark the first anniversary of taking refuge in the cramped diplomatic building, Assange said he remained hopeful he might be able to leave but offered little evidence to suggest he would be finding new living quarters anytime soon. "I wouldn't say I wouldn't leave," he said. ... More »WikiLeaks' Assange fears U.S., says will stay in embassy

  • Spain's credit squeeze thwarts small companies' export plans

    Reuters - 4 hours ago

    By Sonya Dowsett MADRID (Reuters) - For three generations the Posada family has exported candied chestnuts around the globe, but plans for further expansion are being hampered by the worst bank lending crunch in the business's history. The scarcity and high cost of credit for small businesses is holding back an economic recovery in Spain, which has swung in and out of recession for five years following the bursting of a massive property bubble in 2008. With record unemployment stifling consumer spending, exports are seen as the key to growth and job creation. ... More »Spain's credit squeeze thwarts small companies' export plans

  • Swiss upper house keeps U.S. tax deal alive; set for lower house

    Reuters - 4 hours ago

    ZURICH (Reuters) - Swiss upper house lawmakers kept alive a draft law aimed at ending a long-running U.S. tax probe into hidden offshore accounts at Swiss banks on Wednesday, leaving the final say with the lower house, which has previously rejected it. Lawmakers are deeply divided on a bill aimed at allowing banks to sidestep strict Swiss secrecy laws by disclosing their U.S. dealings to prosecutors, helping them to strike deals that are nevertheless expected to include fines that could cost the industry as much as $10 billion. ... More »Swiss upper house keeps U.S. tax deal alive; set for lower house

  • Airbus wins $7.5 billion A350 order from Air France: KLM

    Reuters - 4 hours ago

    PARIS (Reuters) - Airbus won an order for 25 A350-900 aircraft from Franco-Dutch carrier Air France-KLM worth $7.5 billion (4.8 billion pounds) at list prices, the planemaker said at the Paris Airshow on Wednesday. The airline also took a further 25 options on the planes, Airbus said. The aircraft will come into service at Air France in 2017 and later at KLM, the airline said. ... More »Airbus wins $7.5 billion A350 order from Air France: KLM

  • Cable Presses For RBS Bonus Link To Lending

    Sky News - 4 hours ago

    Vince Cable is to push for the new boss of Royal Bank of Scotland (RBS) to have his pay more closely-tied to its small business lending amid intensifying debate about its future. More »Cable Presses For RBS Bonus Link To Lending

  • German cartel court takes on Porsche lawsuit: source

    Reuters - 4 hours ago

    BERLIN (Reuters) - A German court has assigned an investor lawsuit seeking about 2 billion euros ($2.7 billion) in damages from Porsche SE to a court specialising on cartel matters, a person familiar with the matter told Reuters. The regional court in Braunschweig, Germany, will delegate the case, brought by U.S. investment funds, to a Hanover-based court specializing in cartel matters, the source said on Wednesday on condition of not being identified because the matter is confidential. The court declined to comment. ... More »German cartel court takes on Porsche lawsuit: source

  • Teen country singer Bradbery captures 'The Voice' U.S. season crown

    Reuters - 4 hours ago

    By Eric Kelsey LOS ANGELES (Reuters) - Pitch-perfect teen country singer Danielle Bradbery won TV singing contest "The Voice" on Tuesday, scoring a contract with Universal Music Group and a $100,000 (63,942.71 pounds) cash prize. Bradbery, who was coached by fellow country singer Blake Shelton, covered her mouth and began to cry when named the winner, hugging runner-up Michelle Chamuel. "I'm so thankful," the 16-year-old Texan said. "I'm sorry, I'm speechless. ... More »Teen country singer Bradbery captures 'The Voice' U.S. season crown

  • Small global warming rise would have 'alarming' impact - World Bank

    Reuters - 4 hours ago

    WASHINGTON (Reuters) - Much of Bangkok could flood within the next two decades if global warming stays on its current trajectory, as sea levels rise and cyclones intensify, the World Bank said in a new report on Wednesday. The flooding of 40 percent of the Thai capital was just one of dozens of negative effects the Washington-based World Bank warned would happen if the world grew warmer by just 2 degrees Celsius (3.6 Fahrenheit), which it said is likely to occur in the next 20 to 30 years under a "business-as-usual" scenario. ... More »Small global warming rise would have 'alarming' impact - World Bank

  • South Africa current account deficit narrows, weaker rand helps

    Reuters - 4 hours ago

    By Stella Mapenzauswa PRETORIA (Reuters) - South Africa's current account deficit unexpectedly narrowed in the first quarter of the year, helped by increased external demand while a depreciation in the rand boosted local exports. The shortfall on the current account was at 5.8 percent of gross domestic product in the first quarter, from 6.5 percent in the last three months of 2012, the Reserve Bank said in its June quarterly bulletin on Wednesday. ... More »South Africa current account deficit narrows, weaker rand helps

  • China executes official for child rapes after online uproar

    Reuters - 4 hours ago

    BEIJING (Reuters) - Authorities in central China executed a former Communist Party official for raping 11 underage girls, state media said on Wednesday, following an online uproar about the latest case of abuse of power. Li Xingong, who was the party's deputy head in Yongcheng city in Henan province, was found guilty of assaulting the girls during police interrogations starting from the second half of 2011, the official Xinhua news agency reported. Li appealed against the guilty verdict, but was rejected by the Supreme Court, Xinhua said. ... More »China executes official for child rapes after online uproar

  • American Airlines, US Airways seek EU approval for merger

    Reuters - 5 hours ago

    BRUSSELS (Reuters) - US Airways Group and American Airlines are seeking EU antitrust approval for their planned $11 billion merger, which would create the world's largest carrier. The proposed tie-up, the fourth in the U.S. airline industry since 2008, could strengthen recovery in the sector and give carriers more power to raise prices. The European Commission, which assesses such deals in the 27-country European Union for their competition impact on consumers and rivals, said on its website on Wednesday that it would decide on the issue by July 23. ... More »American Airlines, US Airways seek EU approval for merger

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