Browsing All Posts By Kurt Osterberg
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International buy-in for JCA programme, despite delays
The origins of the Joint Combat Aircraft (JCA) programme can be found in plans developed in the 1990s to replace our carrier-borne aircraft. The aircraft selected to meet the JCA requirement is the Lo... -
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UBS exceeds $1bn profit despite rogue trade loss
UBS on Tuesday said 3Q11 profits fell 39 percent owing to the financial loss of around CHF1.8bn ($2.2bn) from an unauthorised trading incident in September. The bank’s net profit beat analysts’ pr... -
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S Africa buys into “made in China” brand
Deputy President Kgalema Motlanthe finished a trip to China on Friday by praising how it had mobilised state-owned-enterprises (SOEs) to construct a global power. Pretoria should learn from Beijing’... -
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Citigroup to settle negligence charges
Federal regulators late on Wednesday charged a unit of Citigroup with negligence after they found it had sold $1bn worth of financial products linked to the flagging 2007 housing market. The bank’s ... -
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China’s GDP slows in Q3
China’s economic growth slowed down in 3Q11 to 9.1 percent, down from 9.5 percent in 2Q11 and 9.7 percent in 1Q11, the national Bureau of Statistics of China announced Tuesday. According to the s... -
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Philips to cut 4,500 jobs amid profit slump; Occupy Wall Street continues
Dutch electronics group Philips on Monday announced that 4,500 jobs will have to be cut “inevitably” to help restore earnings after 3Q11 profits dropped to a two-year low, as demonstrators in Lond... -
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S&P drops Spain rating one notch on weak growth
Standard & Poor’s late on Thursday slashed Spain’s credit rating one notch to AA- with a negative outlook from AA, citing economic woes. The lowering of Spain’s long term rating reflects it... -
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China trade slows; BlackBerry outrage continues
China’s trade surplus shrank for a second straight month in September to $14.5bn. Trade data published on Thursday showed September’s figures were $3.3bn lower than the $17.8bn in August and had r... -
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Brazil’s retail sales plunge; Occupy Wall Street kicks off
Brazil saw retail sales volumes drop 0.4 percent from a month earlier indication a slowdown as South America’s largest economy continues to struggle with rising inflation, the Brazilian Institute of... -
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Qatar’s royals to buy Dexia’s KBL and BIL
The royal family of Qatar is moving up its investment in Europe’s banking sector with plans to acquire private banking arms of Dexia and its Belgian competitor KBC. Private lender KBC said it was to...
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