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(MENAFN - AFP) Fast-food giant McDonald's announced Wednesday it would stop serving chicken raised with antibiotics that are important to human health, as worries grow over resistance to crucial drugs.

McDonald's, primarily a hamburger chain but which also sells a number of chicken-based meals, said it has been working closely with poultry farmers to cut back the use of antibiotics.

The ...

 
(MENAFN - AFP) Russia's state-controlled energy giant Rosneft said Wednesday its annual net profit for 2014 was down by nearly 10 percent after Russia's economy took a battering from plunging oil prices and Western sanctions over Ukraine.

Rosneft said its net profit last year was 350 billion rubles ($5.63 billion according to the current exchange rate), a decline of 9.8 percent ...

 
(MENAFN - AFP) Chinese online giant Alibaba will open a data center in Silicon Valley, it said Wednesday, challenging US rival Amazon in the field of cloud computing.

The company's Aliyun unit, which already competes with AWS (Amazon Web Services) in China, will offer cloud services to US firms in what was described as a gradual rollout.

"For the time being, we are ...

 
(MENAFN - AFP) US oil giant ExxonMobil said Wednesday it would reduce investment spending by nearly 12 percent this year in response to lower crude-oil prices, but projected higher production.

Exxon Mobil Corp. told analysts in New York that it planned capital spending of about $34 billion in 2015, down from $38.5 billion in 2014.

For 2016 and 2017, investments, including ...

 
(MENAFN - AFP) Minority owners of Norwegian music streaming service Wimp announced Wednesday they had blocked rap mogul Jay Z's $56-million bid and said the ball was now in the rap star's court.

Over 10 percent of the minority owners of Wimp's parent company Aspiro had rejected the bid, meaning Jay Z has to amend his original offer for a 90-percent stake in the company, the ...

 
(MENAFN - AFP) Oil prices were mixed Wednesday before the release of a key US supply report and as dealers eyed escalating violence in crude producer Libya, analysts said.

US benchmark West Texas Intermediate for April delivery gained 25 cents to $50.77 a barrel.

Brent North Sea crude for April fell 48 cents to stand at $60.54 a barrel in London afternoon deals.

Tetsu ...

 
(MENAFN - AFP) Europe's stock markets finished slightly higher Wednesday following earlier sluggishness and a downbeat session in Asia, as investors looked ahead to the European Central Bank's interest rate meeting.

London's benchmark FTSE 100 index of top companies inched up 0.44 percent to 6,919.24 points at the end of trading.

Frankfurt's DAX 30 rose 0.98 percent ...

 
(MENAFN - AFP) Spain's economy minister on Wednesday again raised the prospect of Greece heading for a third bailout, as it is unlikely to regain access to capital markets before its current programme expires in June.

Economy Minister Luis de Guindos, one of the frontrunners to take over the presidency of the Eurogroup of finance ministers this year, said "unfortunately it ...

 
(MENAFN - AFP) Europe's stock markets were mainly flat Wednesday following a downbeat session in Asia, as investors examined weak data on the eve of the European Central Bank's interest rate gathering.

London's benchmark FTSE 100 index of top companies slipped 0.01 percent to 6,888.11 points in mid-afternoon trading.

Frankfurt's DAX 30 inched up 0.12 percent to 11,293.67 ...

 
(MENAFN - AFP) Russian retailers are being hit by consumers' loss of purchasing power, but Ulmart, the country's version of Amazon, expects to strengthen its position as people begin to count every kopeck.

"We are optimistic about this year," said Ulmart board chairman Dmitry Kostygin.

"But for certain competitors it will be difficult," the 42-year-old entrepreneur ...

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