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(MENAFN - AFP) Lloyds Banking Group aims to shed 9,000 jobs and close 150 branches over three years to cut costs, the British state-rescued lender said on Tuesday, reporting improved profits.

LBG, which passed EU-wide bank stress tests at the weekend, is to shed about one-tenth of its workforce, as customers switch to banking online.

"Over the next three years, we need ...

 
(MENAFN - AFP) French drugmaking group Sanofi reported on Tuesday that net profit slipped in the third quarter but that its main treatments were doing well and research for new drugs including a dengue fever vaccine looked promising.

But the price of shares in the group plunged by 7.01 percent in initial trading in response to the news that net profit had fallen by 2.4 percent ...

 
(MENAFN - AFP) Honda on Tuesday said its six-month net profit jumped almost 19 percent, but the Japanese automaker, dented by a series of recalls, cut its earnings outlook for the full fiscal year.

The Civic and Accord maker posted a 288.41 billion yen ($2.67 billion) net profit in April-September, up from 242.87 billion a year earlier, while sales rose to 6.0 trillion yen ...

 
(MENAFN - AFP) SoftBank said Tuesday it would invest $627 million in Snapdeal, becoming the largest shareholder in India's leading online marketplace as the Japanese mobile carrier strengthens its presence in the fast-growing market.

The deal was expected to be completed by the end of November, said a SoftBank spokeswoman in Tokyo.

"With this investment, the SoftBank ...

 
(MENAFN - AFP) Jack Ma, founder of e-commerce giant Alibaba, is China's richest person with a fortune of nearly $20 billion, as billionaires increase despite a slowdown in the country's economy, Forbes magazine said Tuesday.

The number of Chinese billionaires surged to 242 this year from 168 in 2013, Forbes said in its annual "China Rich List", which ranks the wealthy.

Ma's ...

 
(MENAFN - AFP) Standard Chartered reported Tuesday a sharp fall in pre-tax profits in the third quarter and issued a profit warning, while saying it would "remain watchful in India, in China".

The Asia-focused British bank said pre-tax profit fell 16 percent to $1.53 billion from $1.83 billion a year earlier in a report to the Hong Kong stock exchange.

Pre-tax profit ...

 
(MENAFN - AFP) Britain's state-rescued Lloyds Banking Group announced on Tuesday that it intends to cut 9,000 jobs by the end of 2017 to reduce costs on its road to full recovery.

LBG, which passed EU-wide bank stress tests at the weekend, is to shed about one-tenth of its workforce and shutting about 150 branches over the next three years, it said in a statement.

The ...

 
(MENAFN - AFP) A new mobile telephone based mapping service has been created in a bid to track Ebola and better help communities hit by the virus in west Africa, developers said Monday.

The system, a collaboration between technology giant IBM, mobile telephone companies and academics, allows people in affected areas to send free text messages about Ebola to track problems ...

 
(MENAFN - AFP) Asian markets were mixed Tuesday ahead of the US Federal Reserve's next policy meeting, which will be scrutinised for an idea of what its plans are for interest rates.

Wall Street provided little direction as investors took a breather after last week's strong performance across all three main indexes.

Tokyo was down 0.76 percent by the break, Sydney shed ...

 
(MENAFN - AFP) Mining giant BHP Billiton is set to sell some of its shale gas assets in the United States, closing the chapter on a controversial acquisition three years ago that sparked a multi-billion dollar writedown.

The chief executive of the world's biggest miner, Andrew Mackenzie, said BHP was looking to sell its Fayetteville shale gas assets in Arkansas.

"As ...

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