News Archive for October 21, 2014

  • Oscar Pistorius Sentenced to Five Years in Prison

    PRETORIA, South Africa—A judge sentenced star athlete Oscar Pistorius to five years behind bars for killing his girlfriend Reeva Steenkamp on Valentine’s Day last year.

  • European Bankers Broadcast Stress-Test Messages

    Europe’s banks will get the results of a key health check Sunday—and some executives are already managing expectations about the outcome of the “stress tests”.

  • Jaguar Land Rover Opens China Manufacturing Plant

    CHANGSHU, China—Tata Motors Ltd.’s Jaguar Land Rover opened its first plant in China on Tuesday as part of a manufacturing push there, even as it sees moderating growth in luxury-car sales in the country.

  • Hong Kong Protest Talks Set

    HONG KONG—Police braced for the risk of more street clashes Tuesday as pro-democracy student leaders and government officials prepared to meet publicly for the first time to discuss the city’s political crisis.

  • Cerberus Capital in Talks Over Trasmediterránea Acquisition

    MADRID—Spanish consortium Acciona SA is in talks to sell shipping company Trasmediterránea to New York-based Cerberus Capital Management LP, a person close to the situation said Tuesday.

  • South Korean Court Ruling Could Spur Nuclear-Power Plant Suits

    SEOUL--A South Korean court for the first time has ruled in favor of a plaintiff claiming a link between radiation from a nuclear power plant and cancer—a verdict that could trigger similar lawsuits in a country that depends heavily on ...

  • Shares in Total Recover Strongly After Opening Lower

    LONDON—Shares in French oil major Total SA staged a strong recovery after falling nearly 2% when markets opened on Tuesday after the death late Monday of its longtime Chief Executive Christophe de Margerie in a plane crash in Moscow.

  • EU Broadens Sanctions Over Syria

    BRUSSELS—The European Union named 16 people and two companies that will be targeted by fresh sanctions against Syrian President Bashar al-Assad’s regime, including an oil-trading firm from the United Arab Emirates.

  • Russia Opens Criminal Probe Into Death of Total CEO Christophe de Margerie in Plane Crash

    MOSCOW—The plane that crashed in Moscow late Monday killing Total SA’s chief executive and three crew members hit a snow-removal vehicle whose driver was drunk, Russian investigators said Tuesday.

  • European Stock Markets Edge Higher

    European stock markets edged tentatively higher Tuesday, buoyed by forecast-beating gross domestic product and industrial production data out of China, and upbeat earnings from technology heavyweight Apple Inc.

  • Eurozone Budget Deficits Fall Under New GDP Measure

    A change in the way the European Union measures gross domestic product has left governments with slightly smaller deficits and debts, according to figures released by the bloc’s statistics agency Tuesday.

  • Christophe de Margerie, CEO of French Oil Giant Total, Dies in Plane Crash

    PARIS—French oil company Total SA said Chairman and Chief Executive Christophe de Margerie died Monday in a plane crash at a Russian airport.

  • Asian Markets in Lackluster Finish After China GDP

    Asian shares had a lackluster finish Tuesday after data showed China’s economy grew at a slower pace in the third quarter, albeit a touch faster than expected.

  • Chinese Data Drives Oil Higher

    Oil prices were higher Tuesday morning, supported by better-than-expected Chinese data.China’s third-quarter gross domestic product rose 7.3% compared with a year earlier, exceeding market expectations of a 7.2% growth, but lower than the ...

  • Indonesia President Widodo Hits Snags in Selecting Cabinet

    JAKARTA, Indonesia—President Joko Widodo said Tuesday he is ready to work hard for Indonesia, but he is running into snags on background checks for potential members of a cabinet he needs to help get the job done.

  • BAE Systems Boosts Cybersecurity Arm

    LONDON—BAE Systems PLC, Europe’s largest defense company, is increasing its bet on cybersecurity as a future growth driver with the planned $232.5 million acquisition of SilverSky to take advantage of growing demand to protect remotely ...

  • British Public Sector Borrowed More Than Expected in September

    LONDON—The British public sector borrowed more than expected in September, increasing the risk that the government will overshoot its austerity targets.

  • British Chip Designer ARM’s Profit Swings Higher

    LONDON—British microchip designer ARM Holdings PLC reported on Tuesday a 34% rise in third-quarter profit, saying it saw strength in demand for high-tech chips for mobile phones and a pickup in demand for so-called smart objects.

  • Cyberjaya Program Aims to Help Malaysian Graduates Improve English

    CYBERJAYA, Malaysia—For a program that aims to improve English language skills, the name is a mouthful. But the Cyberjaya Graduate Employability Enabler is getting results.

  • U.S., South Korea to Detail Wartime Military Command Plans

    SEOUL—South Korea and the U.S. will this week set out conditions for Seoul to take control of its military in the event of war on the Korean peninsula, South Korea’s vice defense minister said.

  • Hermès’ Chinese Brand Slow to Gain Traction

    SHANGHAI— Hermès doesn’t expect its Chinese brand to break even until 2016, a date that consultants say reflects its slow traction in China and the difficulties it faces in the midst of Beijing’s crackdown on luxury gift-giving by ...

  • Switzerland Leaves Banks to Face the Music Alone

    ZURICH—The head of Switzerland’s finance department delivered a blunt message to one of the country’s banks this year: You’re on your own.In a private letter, Eveline Widmer-Schlumpf acknowledged concerns SB Saanen Bank AG had raised ...

  • Lufthansa Pilots Threaten More Strike Action

    FRANKFURT—Pilots of Deutsche Lufthansa AG are threatening more strikes in the coming days, if the German airline doesn’t resume negotiations over retirement benefits.

  • Japan Downgrades View on Economy Again

    TOKYO—Japan downgraded its overall assessment of the economy in October for the second consecutive month, citing a slowdown in production, likely adding to concerns over whether the government will go ahead with a second sales tax increase ...

  • Xi Jinping Sends Mixed Signals on Rule of Law

    BEIJING — The dominant image that Xi Jinping’s China projects to the world is one of a country that is thrusting determinedly outward.Naval fleets are pushing all the way down to Indonesia, while warplanes prowl a wider arc over the East ...

  • China Slowdown Without the Whiplash

    Don’t look for China to derail the global economy just yet.Official figures show China grew 7.3% in the third quarter from a year earlier, the slowest rate since the financial crisis, but far from a hard landing. On a seasonally adjusted ...

  • Actelion Boosted by New Drug

    ZURICH—Strong sales of a new drug helped push Actelion Ltd.’s earnings higher in the third quarter, prompting Europe’s biggest biotech to upgrade its full-year guidance for a second consecutive quarter.

  • Fashion Designer Oscar de la Renta Dies at 82

    Oscar de la Renta, a renowned American fashion designer famed for his glamorous red-carpet gowns and smart suits for ladies who lunch, died Monday evening at the age of 82, a spokeswoman for his fashion house confirmed.

  • Reckitt Benckiser Cautious on Full Year

    LONDON—Reckitt Benckiser Group PLC on Tuesday reported a weaker-than-expected rise in third-quarter revenue and cautioned that full-year sales would come in at the lower end of its previously forecast range.

  • New Wave of Startups in Korea Flourishes

    SEOUL –The trading debut of South Korea’s ubiquitous mobile messaging app maker Daum Kakao this month made an instant multi-billionaire of one of its founders, Kim Beom-soo.

  • Dish Network Dumps CNN, Other Turner Channels

    Satellite broadcaster Dish Network is no longer carrying several channels owned by Turner Broadcasting including CNN and Cartoon Network after the companies failed to agree on a new distribution deal.

  • Bank of Russia Holds Ruble Trading Band Steady

    MOSCOW—The Bank of Russia said Tuesday it didn’t shift the ruble’s trading band at the beginning of this week for the first time this month as oil prices recovered slightly from October lows.

  • Four Afghan Soldiers Killed in Taliban Attack in Kabul

    KABUL, Afghanistan—At least four Afghan soldiers have been killed in a roadside bomb attack on a bus in the capital.Gen. Mohammad Zahir Azimi, spokesman for the Afghan Ministry of Defense, says the blast occurred Tuesday morning while army ...

  • Akzo Nobel Lifted by Cost Cutting

    AMSTERDAM—Akzo Nobel NV on Tuesday said third-quarter profit rose 32% driven by cost savings and lower restructuring and financing costs, adding that it was on track to meet its 2015 targets despite a fragile economy.

  • Protests Against Met’s ‘Klinghoffer’ on Opening Night

    Hundreds protested the opening of “The Death of Klinghoffer” at Lincoln Center. Former mayor Rudy Giuliani said it “supports terrorism.”

  • Cheap Oil Spurs Record China Crude Runs

    BEIJING—Even amid a slowdown in economic growth, one government statistic on Tuesday showed China isn’t one to miss out on a good bargain.Beijing said crude-oil processing volumes reached a record high in September. Some analysts said that ...

  • What’s News: Business & Finance

    IBM scrapped an earnings target, posted sharply lower profit on a 4% drop in sales and said it would shed its chip business. Shares slid 7%.

  • Greater New York Watch: News Digest

    NEW JERSEYSports Leagues Attempt to Block Legal BettingThe four major professional sports leagues and the NCAA filed papers in federal court on Monday to stop New Jersey’s plan to allow legal sports betting beginning this weekend, when ...

  • What’s News: World-Wide

    Turkey responded to U.S. pressure and allowed Iraqi Kurdish forces to cross its territory to reinforce the besieged Syrian city of Kobani.Islamic State fighters launched a series of attacks against Peshmerga positions across northern Iraq.

  • GIC Buys Tokyo Office Property for $1.7 Billion

    Singapore sovereign-wealth fund GIC Pte. Ltd. said Tuesday it acquired prime office space in the Pacific Century Place Marunouchi building in central Tokyo, in a bid to grab a slice of the Japanese capital’s hot property market.

  • See The Wall Street Journal’s Front Page

    See The Wall Street Journal’s Front Page

  • Corporate Watch: News Digest

    Private-Equity Firm Boosts Stake in GroupPrivate-equity firm TPG Capital is investing close to $250 million in Creative Artists Agency LLC, a deal that will increase its stake in Hollywood’s largest talent agency to 53%, according to a ...

  • What’s News—

    Business & FinanceAn unsolicited bid for Reebok could put Adidas CEO Herbert Hainer into an unaccustomed position: Having to react to investors.

  • What’s News—

    Business & FinanceThe EU and China completed a deal that will end the threat of punitive import tariffs on Chinese telecommunications-equipment makers Huawei Technologies and ZTE, the EU said.

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