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Major banks admit guilt in forex probe, fined $6 billion

Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and six banks were fined a total of nearly $6 billion in a settlement that substantially ends a global probe into misconduct in the $5-trillion-a-da [ … ]

 

Japan's economy grows faster than expected

Japan's economy, recovery, domestic consumption

Japan's economy grew faster than expected between January and March, boosting hopes that the economy is recovering from last year's recession.

   

US appeals court reverses part of Apple's $930 mln verdict vs Samsung

A US appeals court on Monday reversed part of a $930 million verdict that Apple Inc won in 2012 against Samsung Electronics Co Ltd, saying the iPhone maker's trademark-related appearance cou [ … ]

   

ESCAP: Weaknesses in infrastructure & skilled labor shortages are key concerns in SEA

Developing economies in the Asia-Pacific region continue to fare well in comparison to the rest of the world, but structural weaknesses constrain growth prospects, the United Nations Economi [ … ]

   

Ban Ki-moon's nephew connected to Sung case

United Nations Secretary General Ban Ki-moon's reputation is at risk as his nephew is caught up in allegations of shady dealings over the apptempted sale of a building built and owned by Kea [ … ]

   

QIA calls plan to acquire Keangnam fake news

Bahn Joo-hyun, managing director of a New York-based real estate firm, has been caught in the allegations of shady dealings over an attempted sale of a building.

   

German industrial giant Siemens to cut 4,500 jobs

German industrial giant Siemens plans to cut 4,500 jobs, or about 1% of its total global workforce, months after it announced plans to slash more than 7,000 jobs.


   

Buffett says minimum wage increase isn’t answer to income gulf

Billionaire Warren Buffett said the level of income inequality in the U.S. is “extraordinary” but that raising the minimum wage isn’t the best solution.

   

Siemens healthcare unit probed by China regulator for bribery - sources

Chinese regulator investigated Siemens AG last year over whether the German group's healthcare unit and its dealers bribed hospitals to buy expensive disposable products used in some of its [ … ]

   

ANZ: ASEAN to be global factory

Singapore

Southeast Asia will take up China’s mantle as a factory to the world over the next 10-15 years, as companies move to take advantage of cheap and abundant labour sources, according to ANZ Ban [ … ]

   

China is set to lose manufacturing crown

The cheap, young labor and strategic location of Myanmar, Cambodia and Laos are set to draw increasing numbers of manufacturers to Southeast Asia, which will eventually displace China for th [ … ]

   

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