(MENAFN - AFP) Brent oil slumped Tuesday to a new five-year low below $60 per barrel, as shrinking Chinese manufacturing activity stoked global demand concerns, with sentiment also plagued by over-supply.
In morning London deals, the price of Brent North Sea crude for delivery in January sank to $59.49, hitting a low last seen in July 2009.
(MENAFN - AFP) Japan's Hitachi and Swiss engineering giant ABB said Tuesday they will set up a joint venture to market power transmission equipment in Japan, as Tokyo deregulates the heavily protected sector.
The deal would see Hitachi and ABB take a 51 percent and 49 percent stake in the new business, respectively, they said in a joint statement.
(MENAFN - AFP) Japan's Hitachi and Swiss engineering giant ABB are close to setting up a joint venture to market power transmission equipment in Japan, as they eye deregulation of the heavily protected sector, a report said Tuesday.
The deal would see Hitachi -- which declined to comment on the story -- take a majority stake in the new business and appoint its chief executive, ...
(MENAFN - AFP) Asian markets mostly slipped Tuesday, following a sell-off in Europe and the United States, as oil prices plunged to more than five-year lows and data indicated Chinese manufacturing activity shrank in December.
The dollar and euro edged lower against the yen after losing pace Monday owing to the uncertainty caused by the weak crude, which has increased pressure ...
(MENAFN - AFP) The European Commission on Monday said it had opened an in-depth antitrust probe into a proposed joint venture between leading Dutch coffee supplier Douwe Egberts Master Blenders 1753 and US giant Mondelez.
The two companies announced in May that they would team up to take on other giants in the coffee market, such as Nestle.