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(MENAFN - AFP) China has broken the rules of global commerce by restricting exports of rare earths, tungsten and molybdenum, a move that benefited domestic industries, a World Trade Organization panel said on Wednesday.

A WTO disputes settlement panel said that Beijing's deployment of export duties and quotas, plus limits on who could trade in what are key raw materials ...


(MENAFN - AFP) Japanese automaker Nissan is recalling nearly a million of its vehicles in North America over a defect that could cause the front passenger airbag not to deploy in an accident.

The recall includes the 2013 and 2014 models of several of its cars and SUVs, including the latest generation of its Altima sedan and its all electric Leaf, according to a letter ...


(MENAFN - AFP) Toyota is to buy back as much as 1.89 percent of its shares for 360 billion yen ($3.5 billion), raiding a growing corporate cash chest for the first time in five years, the Japanese carmaker said Wednesday.

The world's largest automaker said it will purchase up to 60 million shares over a 10-month period following the next shareholders' meeting in June.

It ...


(MENAFN - AFP) Lufthansa, Germany's biggest airline, said it will cancel around 600 European and domestic flights on Thursday due to a strike by ground staff, baggage handlers and maintenance workers.

The giant services sector union Verdi has called for the walkout at Germany's major airports over a pay dispute.

"The airlines of the Lufthansa group expect substantial ...


(MENAFN - AFP) German media and publishing giant Bertelsmann said on Wednesday it expected further growth this year after a "gratifying" business performance in 2013.

"Bertelsmann delivered a gratifying business performance in 2013," said chief executive Thomas Rabe.

"Our figures demonstrate our company's economic capacity and solid financing. On this basis, in 2014 ...


(MENAFN - AFP) Rupert Murdoch said Wednesday he had promoted his son Lachlan to be vice president of the two companies that make up his media empire.

Those companies are News Corp and the mass media and entertainment multinational 21st Century Fox.

For years speculation had been rife over which of the six children of the 83-year-old magnate would take over for him.

Murdoch ...


(MENAFN - AFP) Spain's economy will grow by 1.2 percent in 2014 after shaking off a long, job-destroying downturn, the nation's central bank predicted Wednesday.

The bank's outlook for Spain, which boasts the eurozone's fourth-largest economy, paints a picture of gradual, modest recovery with stubbornly high rates of unemployment.

"After the start of the recovery ...


(MENAFN - AFP) Britain has sold an extra 7.8-percent stake in bailed-out Lloyds Banking Group for £4.2 billion ($6.9 billion, 5.0 billion euros), it said Wednesday.

The latest sale, pitched at 75.5 pence per share to institutional investors, takes the state's overall holding from 32.7 percent to 24.9 percent, the Treasury said in a statement.

Prime Minister David ...


(MENAFN - AFP) The amateur trapeze artist on the not very high wire juggles while trying to keep his balance, but fails and falls. A crowd of hundreds of villagers claps anyway.

After all, he is just a soldier -- part of a roving Colombian circus made up of military personnel.

The circus is part of efforts to ease local fears about Colombian armed forces after decades ...


(MENAFN - AFP) A collection of works by LS Lowry sold for £15.2 million ($25 million, 18.2 million euros)at a London auction, with a painting of Piccadilly Circus topping the night's bidding at £5.1 million.

The oil paintings belonged to Cambridge businessman and collector Tony Thompson, who died last year. The Sotheby's sale saw 13 paintings go under the hammer.

"We ...

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