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Business Archive
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Inside the Nondescript Building Where Trillions Trade Each Day
Posted on April 14, 2016 | No CommentsSix miles northwest of the New York Stock Exchange as the microwave flies, across the Hudson River and within earshot of Interstate 95, is a building with no name. Only three numbers mark its address, and, like much of its surroundings, it’s nondescript, encircled by windblown trash and lonely semitrailers waiting to be hauled away somewhere. -
Leading global coal miner Peabody files for bankruptcy
Posted on April 14, 2016 | No CommentsLeading global coal producer Peabody Energy Corp (BTU.N) filed for U.S. bankruptcy protection on Wednesday after a sharp drop in coal prices left it unable to service debt of $10.1 billion, much of it incurred for an expansion into Australia. -
Panama raids offices of Mossack Fonseca law firm
Posted on April 14, 2016 | No CommentsPanama's attorney general late on Tuesday raided the offices of the Mossack Fonseca law firm to search for any evidence of illegal activities, authorities said in a statement. -
Uber says gave U.S. agencies data on more than 12 million users
Posted on April 14, 2016 | No CommentsA large number of the law enforcement requests were related to fraud investigations or the use of stolen credit cards, according to the report. Uber said it had not received any national security letters or orders under the Foreign Intelligence Surveillance act. -
Former Malaysian PM Dr Mahathir quits as chair of national carmaker Proton
Posted on March 31, 2016 | No CommentsFormer Malaysian premier Tun Dr Mahathir Mohamad has resigned as chairman of national carmaker Proton Holdings, effective March 30, his office said in a statement on Thursday. -
Malaysia State Fund 1MDB Plans to Pay $1.5 Billion Debt Soon
Posted on March 30, 2016 | No CommentsThe Malaysian state investment company at the center of multiple financial probes said it will repay 6 billion ringgit ($1.5 billion) in coming weeks as asset sales give it room to pare down debt. -
A slowing Malaysian economy
Posted on March 7, 2016 | No CommentsBusinesses and consumers remain wary of the economic outlook, judging from the money supply gauges of M3, also known as broad money, and M1, a narrower definition, used to measure the amount of money circulating in the economy. What is interesting to note is that M3 has shrunk by more than 86% over a span of four years. -
Moody’s Warns of 30% Rise in Commodity Based Company Bankruptcies in 2016
Posted on March 3, 2016 | No CommentsThe commodity industry is bracing for a high year of bankruptcy and default filings that will impact mining and metals along with oil and gas. Moody’s has also warned of global speculative-grade corporate defaults that will increase by more than 30% in 2016, reaching the highest level since 2009. -
Petronas May Cut 1,000 Jobs as Oil Slump Prompts Reorganization
Posted on March 1, 2016 | No CommentsPetroliam Nasional Bhd., Malaysia’s state oil company, announced management changes and plans to cut workers as it seeks to trim operating costs to cope with the worst price slump in a generation. -
China’s Bad Loans Rise to Highest in a Decade as Economy Slows
Posted on February 15, 2016 | No CommentsSoured loans at Chinese commercial banks rose to the highest level since June 2006 as the nation’s economic expansion slowed to the weakest pace in a quarter century.
