Credit Suisse to cut 65 jobs in fixed income, say sources

LONDON: Credit Suisse will cut 65 jobs across its fixed income business next week as part of its recently announced plans to reduce its presence in rates, according to two sources with knowledge of the plans.

Barclays reviewing currency trades

Barclays Bank has said it will review how its currency trading operated over the past several years, amid a new inquiry into market manipulation.

Apple reports quarterly profit of $7.5 bn, sells 33.8 mn iPhones

SAN FRANCISCO: Apple on Monday reported a quarterly profit of $7.5 billion on the back of soaring iPhone sales.

Twitter share sale trial 'a success', says exchange

The New York Stock Exchange (NYSE) says a test run of Twitter's share sale was 'a success', as it tries to avoid the debacle surrounding Facebook's flotation on the Nasdaq.

Toyota settles US acceleration case after $3 mn verdict

Toyota Motor Corp reached a deal on Friday to resolve a lawsuit in the United States over unintended acceleration issues, one day after a jury found the Japanese carmaker liable and ordered it to pay $3 million for defects that caused a 2007 fatal crash.

Samsung profit rises 26% on smartphone boost

Samsung Electronics has reported a 26% jump in profit in the third quarter driven by strong smartphone sales and a recovery in its memory chip business.

Big companies push back against G20 tax avoidance plan

LONDON: Big companies have pushed back against an international drive to crack down on corporate tax avoidance, documents published by the body charged with drafting new rules showed on Wednesday.

Adidas shakes up management to restore Europe, US growth

FRANKFURT: Sporting goods group maker Adidas is shaking up its management structures in North America and western Europe as it seeks to boost growth in these regions.

Airbus Targets Doubling Japan Market Share in Boeing Challenge

Airbus SAS (EAD), which won its first order from Japan Airlines Co. (9201) this month, intends to double its market share in the country by 2020 as air travel demand climbs.

JPMorgan in tentative $13 billion deal with US Justice Department: Source

WASHINGTON: JPMorgan Chase & Co has reached a tentative $13 billion agreement with the US Justice Department to settle a range of mortgage issues, a source familiar with the talks said on Saturday.

Royal Mail shares: Vince Cable defends flotation price as shares hit 500p

Vince Cable has written to MPs to defend the pricing of the Royal Mail flotation as shares in the postal service closed above 500p at the end of their first full week of trading, representing a paper profit of 52% for investors.

IBM's China-driven revenue slide raises growth fears

IBM Corp shares fell more than 7 per cent on Thursday after a surprisingly steep drop in hardware sales in China fueled concerns the company is struggling to sustain growth through its emerging markets business.

Royal Mail shares begin full trading on stock market

Shares in Royal Mail have risen to 479.50p on the company's first day of full trading on the stock exchange.

Regulator could fine banks for 'swap' mis-selling

The Financial Conduct Authority (FCA) has said it could fine banks who mis-sold complex loan insurance products.

Italy denies Alitalia protectionism as shareholders meet

MILAN: Italy on Monday denied charges of protectionism as Alitalia held a shareholders meeting to approve a capital increase that would see the public postal service take a stake in the troubled airline.

BMW's China sales up 20 pct in January-September, eyes record sales

BEIJING: German luxury car maker BMW said on Saturday its China sales rose more than 20 per cent in the first nine months of this year, paving the way for another year of record sales in the world's biggest automobile market.

Boeing warns of layoffs as US shutdown drags on

WASHINGTON: Boeing said Saturday it may have to send home workers in its defense, space and security unit without pay if the US government shutdown in a budget battle continues.

JPMorgan sells off short-term US government debt

NEW YORK: Investment banking giant JPMorgan Chase said Thursday it has sold all of its exposure to short-term U.S. government debt out of its money market funds, following a similar move by other money market mutual fund managers.

Greggs slows sales decline as it battles to win back customers

The bakery chain Greggs has reported a modest decline in sales, as the company battles to win back customers to its hot pies and sausage rolls.

Mazda CEO says aims to sell around 500,000 Mazda3 vehicles a year

TOKYO: Mazda Motor Corp aims to sell around 500,000 redesigned Mazda3 compact cars a year around the world, Chief Executive Officer Masamichi Kogai said on Wednesday, setting the highest target ever for its best-selling model.

Royal Mail: Just 368 staff chose not to accept free shares

Just 368 out of the Royal Mail's 150,000 staff have chosen not to accept free shares in the privatised company, the BBC has learned.

Airbus and Japan Airlines agree landmark $9.5bn deal

Aircraft manufacturing giant Airbus has announced its first deal with Japanese carrier Japan Airlines (JAL).

BlackBerry faces class action shareholder lawsuit

TORONTO: A class action lawsuit has been filed against BlackBerry by a shareholder claiming the company misled investors about its future, including how the BlackBerry 10 smartphone line would fare against competitors.

Samsung Electronics reports record-high profit for 3Q

SEOUL: Operating profit at Samsung Electronics hit another record high in the July-September quarter, likely driven by robust sales of its cheaper mid-range smartphones in developing countries.

BP wins reprieve over Gulf of Mexico payouts

Oil giant BP's attempts to limit claims over the 2010 Gulf of Mexico oil spill have been given a boost after a US appeals court halted some payments.

Boeing warns US shutdown could slow jet, defense deliveries

NEW YORK: Boeing Co is taking steps to deal with possible delays in jetliner deliveries, including its new 787 Dreamliner, caused by the federal government shutdown that has idled thousands of US aviation officials needed to certify the planes.

Google offers rivals more space to get EU deal

Google has agreed to give rivals more space on its website, raising the chances of a deal with Europe's antitrust authorities and reducing the risk of a hefty fine.

Over-complicated RBS must lend more, says new chief executive Ross McEwan on first day in charge

Ross McEwan, said he wanted to “create a bank that is known for exceptional customer service and not for failure”, admitting that “sometimes we make it too hard for our customers to do business with us”.

Airlines promise a return to civility, for a fee

NEW YORK: Airlines are introducing a new bevy of fees, but this time passengers might actually like them. Unlike the first generation of charges which dinged fliers for once-free services like checking a bag, these new fees promise a taste of the good life, or at least a more civil flight.