John Elkann, 32, to become new czar of Italy's Fiat dynasty
AFP - Monday May 12, 03:08 AM
MILAN (AFP) - The Agnelli dynasty will crown the new czar of the Fiat automotive empire on Tuesday when John Elkann, scion of the family known as "Italy's Kennedys," takes over at the tender age of 32.

High oil prices will break some airlines: Ryanair boss
AFP - Monday May 12, 01:46 AM
BERLIN (AFP) - The current record highs in oil prices will force some airlines into bankruptcy, the outspoken chief executive of budget airline Ryanair told a German newspaper on Sunday.

China unveils new jumbo jet company: report
AFP - Sunday May 11, 05:17 PM
BEIJING (AFP) - China unveiled its own jumbo jet maker in Shanghai on Sunday, state press reported, in a move that could eventually rival Airbus and Boeing.

French contemplate bid for leading UK nuclear utility
AFP - Sunday May 11, 03:52 PM
LONDON (AFP) - French state-owned energy giant EDF, the world's biggest nuclear energy producer, has ambitions to expand into a lucrative future British market with a bid for the leading British nuclear energy producer.

South Africa faces up to 'wage apartheid'
AFP - Sunday May 11, 03:33 PM
JOHANNESBURG (AFP) - Whites in South Africa earn five times more than their black counterparts on average, according to a new study, illustrating the enduring legacy of apartheid 14 years after its abolition.

Bulgaria fears dirty money streaming in as foreign investment
AFP - Sunday May 11, 03:16 PM
SOFIA (AFP) - As EU newcomer Bulgaria aims to attract ever larger flows of foreign investment, authorities and analysts have raised fears that part of the money streaming into the country may have been laundered.

Chastened banks tighten up on lending: ECB
AFP - Sunday May 11, 03:02 PM
FRANKFURT (AFP) - Anyone looking for a bank loan is finding it tougher because of the recent financial market turbulence and there is little short-term relief in sight, a European Central Bank survey shows.

Genetically modified crops get mixed response in Asia
AFP - Sunday May 11, 02:50 PM
MANILA (AFP) - With food prices hitting record highs the jury is still out in Asia as to whether genetically modified crops hold the key to future food security.

Beijing Olympics to boost Chinese energy demand: analysts
AFP - Sunday May 11, 01:46 PM
LONDON (AFP) - The 2008 Beijing Olympic Games will boost China's rampant demand for energy, threatening to push world oil prices beyond current record heights, according to industry analysts.

Malaysia to spend more on subsidies than development: PM
AFP - Sunday May 11, 12:35 PM
KUALA LUMPUR (AFP) - Malaysia says it will spend more money subsidising oil and gas this year than on developing the country with Prime Minister Abdullah Ahmad Badawi calling for a review of all major projects.

Murdoch withdraws bid for Newsday: report
AFP - Sunday May 11, 04:42 AM
NEW YORK (AFP) - Media titan Rupert Murdoch's NewsCorp has withdrawn its bid to buy the New York area newspaper Newsday, leaving Cablevision the likely victor, the Wall Street Journal said on Saturday.

Japan's JVC, Kenwood to merge in October: report
AFP - Sunday May 11, 03:38 AM
TOKYO (AFP) - Japanese electronics maker Victor Co of Japan Ltd (JVC) and Kenwood Corp have reached a final agreement to merge on October 1 under a holding company, a newspaper reported Saturday.