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(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.

China's manufacturing activity ...

 
(MENAFN - AFP) India's newest airline said Tuesday that it has received a permit to begin flying in the country.

Vistara, jointly owned by Singapore Airlines and the Mumbai-based Tata conglomerate, said it would soon make an announcement on the start of sales, routes and schedules.

"Vistara has received the Air Operator Permit (AOP) from the regulatory authority," airline ...

 
(MENAFN - AFP) McDonald's in Japan said Tuesday it is having to ration french fries, despite having airlifted in more than 1,000 tonnes of potatoes, as eateries grapple with a crippling chip shortage.

Industrial disputes on the United States West Coast are crimping exports of french fries, leaving Japanese restaurants scrambling to secure fresh supplies.

McDonald's ...

 
(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.

"This is the first ...

 
(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) China's manufacturing activity worsened in December, HSBC said Tuesday, with its closely watched purchasing managers' index (PMI) hitting a seven-month low.

The British banking giant's preliminary PMI for the month came in at 49.5, below the break-even point dividing expansion and contraction, the bank said in a statement.

The result, compiled by information ...

 
(MENAFN - AFP) Sony Pictures vows it will not be destroyed by a massive cyber attack, a day after hackers promised a big "Christmas gift" for the Hollywood studio.

Staff were called together in Los Angeles to hear how the company is responding to the November 24 hacking attack, which has produced a string of damaging and highly embarrassing leaks.

"This will not take ...

 
(MENAFN - AFP) US aerospace giant Boeing on Monday announced a $12 billion share repurchase plan and a 25-percent hike in its quarterly dividend to investors.

The Boeing board decided to replace the 2013 buyback plan, of which about $4.8 billion remains, the company said in a statement.

For 2014, buyback activity is complete at $6 billion; repurchases were expected ...

 
(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.

The deal would see Master ...

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