BUSINESS

The Chrysler Building in New York City is one of the properties in the portfolio of Austria's real estate giant Signa, which is seeking court protection to restructure its operations

Austria Property Giant Signa To File For Insolvency

Austrian real estate giant Signa -- whose vast portfolio includes New York's iconic Chrysler building -- on Wednesday announced it would initiate insolvency proceedings, filing for court protection as it undergoes restructuring.

Philips Stock Slumps After New FDA Warning

Philips has been badly affected by the recalls
Shares in Dutch medical device manufacturer Philips plunged Wednesday after the US Food and Drug Administration warned that its new machine to help patients sleep risked overheating.
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Traders are keenly awaiting the release of the Federal Reserve's preferred gauge of inflation later in the week

Markets Mixed As Traders Await US Data, Fed Speakers

Asian markets were mixed Tuesday following a tepid performance on Wall Street, with profit-taking tempering hopes for Federal Reserve interest rate cuts next year and traders awaiting key US inflation data due later this week.
US new home sales eased to an annual rate of 679,000 in October, cooling from September's figure, said the Commerce Department

Sales Of New US Homes Slow In October

New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones.
A number of carmakers, including Volkswagen, are confronting lacklustre sales of electric vehicles

VW Weighs Staff Reductions As Electric Shift Stalls

German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.
Two-way trade between New Zealand and the EU is expected to grow by 30 percent under their pact

EU-NZ Trade Pact Gets Brussels' Final Green Light

Brussels on Monday gave the final green light for an EU-New Zealand trade deal that, while mutually lowering barriers for both markets, highlights the recent failure of EU-Australia negotiations.
While markets have fallen, traders are upbeat about the outlook for the end of the year

Asian Markets Ease As US Inflation Comes Into View

Asian markets dipped Monday as investors look ahead to the release this week of key US inflation data that could provide a guide for the Federal Reserve's plans for interest rates going into the new year.

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