Category Archives: business

State fund appoints administrator for Malaysia Airlines restructuring

KUALA LUMPUR (NEWS.GNOM.ES) – Malaysia’s Khazanah Nasional KHAZA.UL said it had appointed Mohammad Faiz Azmi to oversee the restructuring of now delisted Malaysian Airline System Bhd into a new company that will be owned by the sovereign fund. Azmi will oversee the transfer of the assets and liabilities of MAS and the new company, Malaysia Airlines Bhd, is due to start operating by September, Khazanah said in a statement Continue reading

Senator Warren calls for public hearings on bank waivers: FT

NEW YORK (NEWS.GNOM.ES) – U.S. Senator Elizabeth Warren is calling for U.S. Continue reading

Asian shares edge down on U.S. rate hike bets

By Lisa Twaronite By Lisa Twaronite TOKYO (NEWS.GNOM.ES) – Asian shares got off to a lackluster start on Monday, after rising inflation and a hawkish tone from the U.S. Continue reading

Amazon changes tax practices in Europe as investigations continue: WSJ

NEW YORK (NEWS.GNOM.ES) – Amazon.com Inc has started booking revenue from retail sales in individual European countries, instead of channeling all sales through low-tax Luxembourg, the Wall Street Journal reported Sunday. The change was made effective May 1, a company spokesman told the Journal. Amazon said it had started preparing to diversify its retail sales structure two years ago, the Journal reported. Continue reading

Alibaba’s latest gambit in fighting fakes: foster local brands

By John Ruwitch By John Ruwitch PUTIAN, China (NEWS.GNOM.ES) – Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source. In the coastal city of Putian, in Fujian province, Alibaba is working with 17 shoe manufacturers to cultivate home-grown brands online, revitalize a flagging industry and offer would-be counterfeiters an alternative source of livelihood. Critics say the scheme is misguided and Alibaba should instead focus on scrubbing its online marketplaces of widespread listings of fakes. Continue reading

Two dead as south-central U.S. storms force evacuations

By Jim Forsyth By Jim Forsyth SAN ANTONIO (Reuters) – Two people were killed in flash flooding and severe storms in Texas and Oklahoma that forced evacuations and rooftop rescues and left thousands without power, officials said on Sunday. The National Weather Service reported river flooding across southern Oklahoma and central Texas, where 6 to 9 inches of rain fell overnight Continue reading

Flash floods in Texas, Oklahoma kill 2; 100s of homes gone

By SETH ROBBINS SAN MARCOS, Texas (AP) — Record rainfall wreaked havoc across a swath of Texas and the Midwest on Sunday, causing flash floods in normally dry riverbeds, spawning tornadoes and forcing at least 2,000 people to flee. Tornadoes struck, severely damaging an apartment complex in Houston, Texas Continue reading

Man arrested after Washington state courthouse evacuation

SEATTLE (Reuters) – A man armed with a knife who caused the evacuation of a Washington state courthouse on Sunday has been arrested without incident, the Snohomish County Sheriff’s office said. Sheriff’s office employees saw the man with a knife and a crowbar at around 9 a.m. and the courthouse complex in Everett was evacuated and searched by law enforcement officials in what the sheriff’s office described as a “very dynamic situation.” The man was arrested several hours after the incident about a mile from the courthouse in the town some 30 miles north of Seattle, the sheriff’s office said on Twitter. Continue reading

In the coalfields, dilapidated sites make way for renewal

By JONATHAN DREW, Associated Press WILLIAMSON, W.Va. (AP) — Inside a 1920s-era warehouse in the heart of a once-bustling coalfields hub, Brandon Blankenship saws through 8-foot boards pulled up from the building’s floor, looking each one up and down for “a face that’s not splintered — smooth with no breaks — and an intact tongue and groove.” Portions that pass muster wind up in neat stacks for reuse by the crew remodeling the warehouse into office space, or for sale to builders looking to add a rustic touch to homes and restaurants. The building crew from the nonprofit Coalfield Development Corp Continue reading

Deadly weather soaks south central U.S., forces evacuations

By Jim Forsyth By Jim Forsyth SAN ANTONIO, Texas (Reuters) – Flash flooding and severe storms in Texas forced evacuations, submerged roads and left thousands without power on Sunday, after an Oklahoma firefighter was swept into a storm drain during an overnight rescue effort and died. The National Weather Service reported river flooding across southern Oklahoma and central Texas, where six to nine inches of rain fell overnight. Continue reading