Two held in China for giving flight passenger data to fugitive tycoon

Chinese authorities have ­detained two people working within the aviation sector for ­allegedly giving fugitive tycoon Guo Wengui information about passengers using Hainan Airlines, the carrier at the centre of his claims detailing corruption at the top ranks...

Germany’s Siemens says Russian partner violated Crimea sanctions

One of Germany’s biggest companies said Monday that it had become an unwitting pawn in a scheme to evade sanctions against Russia and break a de facto blockade of electricity to the annexed territory Crimea. The company, Siemens, a giant engineering and...

Passive investing boom is creating a ‘frightening’ risk for markets, Morgan Stanley says

Redeker said that investors into passive funds can choose risk strategies allowing them to sell out completely if their investment drops by a certain amount, and this can cause a cascade effect, where small market moves are amplified if passive funds automatically...

Hungarian government faces anti-Semitism claims amid vilification of George Soros

A government campaign portraying billionaire businessman George Soros as the enemy of the Hungarian people has prompted a public outcry with people accusing the ruling right-wing Fidesz party of Nazi-era anti-Semitism. The election campaign run by incumbent Prime...

Newspapers to bid for antitrust exemption to tackle Google and Facebook

The news industry is to band together to seek a limited antitrust exemption from Congress in an effort to fend off growing competition from Facebook and Google. Traditional competitors including The Washington Post, The Wall Street Journal and The New York Times, as...

The ‘bulk’ of job cuts are over for us, Keppel CEO says

It might take time for the offshore marine sector to regain its footing, but the worst of the downturn could be over for the largest offshore rig builder in the world. “We are watching carefully … As far as we are concerned, the bulk of it is done,”...