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LAST_UPDATESat, 23 Jun 2018 9pm

Rolls-Royce Cuts 4,600 Jobs At 'Pivotal Moment' For Business

Pic: Reuters

LONDON: Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to reduce costs and complexity and make Britain's best known engineering company more profitable and dynamic.

Read more: Rolls-Royce Cuts 4,600 Jobs At 'Pivotal Moment' For Business

U.S. SEC Official Says Ether Not A Security, Price Surges

Pic: ReutersNEW YORK: The price of ether rose on Thursday after a senior official at the U.S. Securities and Exchange Commission stated that the cryptocurrency was not a security, thus exempting certain transactions in the token from federal securities laws.

Read more: U.S. SEC Official Says Ether Not A Security, Price Surges

Embattled ZTE Seeks $10.7 Billion Credit Line, Nominates 8 Board Members

HONG KONG - Chinese telecommunications giant ZTE Corp (0763.HK)(000063.SZ) has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.

Read more: Embattled ZTE Seeks $10.7 Billion Credit Line, Nominates 8 Board Members

Exclusive: Microsoft Takes Aim At Amazon With Push For Checkout-Free Retail

SAN FRANCISCO - Microsoft Corp (MSFT.O) is working on technology that would eliminate cashiers and checkout lines from stores, in a nascent challenge to Amazon.com Inc’s (AMZN.O) automated grocery shop, six people familiar with the matter told Reuters.

Read more: Exclusive: Microsoft Takes Aim At Amazon With Push For Checkout-Free Retail

MAVCOM's Rejection Of Route Applications Hamper Malaysia's Tourism And Economic Growth: AirAsia

KUALA LUMPUR: Malaysian Aviation Commission’s (Mavcom) rejection of route applications will only further hamper Malaysia’s tourism and economic growth.

Read more: MAVCOM's Rejection Of Route Applications Hamper Malaysia's Tourism And Economic Growth: AirAsia

Malaysia's Current Account And Growth Are Positively Correlated With Oil Prices: SC

KUALA LUMPUR: Malaysia has benefitted from higher oil prices through higher commodity exports, higher fiscal revenue and higher commodity-related investments according to a report by Standard Chartered Research.

Read more: Malaysia's Current Account And Growth Are Positively Correlated With Oil Prices: SC

Rolls-Royce Announces 4,600 Job Cuts

Engineering firm Rolls-Royce is to cut 4,600 jobs over the next two years as part of a major reorganisation.

Read more: Rolls-Royce Announces 4,600 Job Cuts

Comcast Bids For Murdoch's Fox Assets In Disney Challenge

Comcast, the US media conglomerate, has launched a bid for parts of 21st Century Fox, after getting rebuffed last year in favour of Disney.

Read more: Comcast Bids For Murdoch's Fox Assets In Disney Challenge

Mavcom Does Not Understand Airline Business, Says AirAsia

KUALA LUMPUR: AirAsia Bhd today criticised the Malaysian Aviation Commission (Mavcom) for failing to understand the nature of the airline business.

Read more: Mavcom Does Not Understand Airline Business, Says AirAsia

Datasonic Re-Submitting Bid To Govt To Produce Malaysia Passports

Managing director Datuk Abu Hanifah Noordin said all proposals submitted in the past will have to reviewed and resubmitted as the new government has different priorities, constraints and objectives.

Read more: Datasonic Re-Submitting Bid To Govt To Produce Malaysia Passports